In our upcoming newsletter, we will be sharing our MAGIC FORMULA for explosive financial success (as a contractor).

This is your ONE FREE SHOT at it.

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The Contractor Best Practices Newsletter

After next Tuesday night, the only way you can learn our magic formula will be to join our roster of coaching clients or join our upcoming membership site.

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The Magic Formula is Just That: Magic

(It’s also nearly top secret)

We’ve yet to meet one hugely successful contractor that hadn’t implemented the formula. We’ve also yet to meet one that was aware he or she had followed the formula.

Love it or hate it. It will make you a ton of money when you implement it!

We’ve never seen the magic formula mentioned anywhere else.

Not during our unnecessarily extensive academic educations; not during our extensive reading of business articles and books; not on the web; not in seminars. Not in the way we’ve pulled the magic formula together.

The magic formula is simple, yet profound.

We came across it while working with dozens of contractors and then verified it’s accuracy through interviews with a select group of highly, highly profitable contractors.

The magic formula applies to large and small, commercial and residential contractors alike. It even applies to contractors who only work on government projects. It applies to every trade, geographic market, and customer base.

Don’t miss out. Make sure you are signed up for the newsletter by next Tuesday night. It goes out early Wednesday and then it’s gone.

The Contractor Best Practices Newsletter

Wishing your great success with your business.

Ron & Guy

Ready to get back to work after the craziness that is Thanksgiving and the day after?

I thought you might find the following two catchy blocks of advice interesting. They were passed on to me from Tim Hmelar (650-888-4745). Tim has perfected the execution of kitchen and bath remodels. Soon his system will be available via the internet as a membership site.

Tim follows a handful of key thoughts to drive his success. I don’t know the origin of the two sayings he shared, but they’re both really good and really useful. Here they are.

Tim’s 4 Conditions For Profitable Selling

1. Visibility

2. Credibility

3. Convertibility

4. Profitability

Your business must have visibility and credibility. Your prospect must be convertible and willing to pay a sufficient price for you to be profitable.  Only when you have all four conditions will you be able to consistently land profitable work.

Tim’s Five E’s to Wowing Customers

Expectations: set them correctly

Economics: make sure the money is sufficient to meet expectations

Efficiency: get in and get out quickly

Effectiveness: manage the client through the entire process

Evangelist: turn your client into someone who will stand on the mountain and sing your name to all he or she meets

I’m not sure where Tim found these nuggets of advice, but the sure are dead on.

Do yourself a favor. Have someone in your office make large posters of these two sayings and hang them in your office in clear line of sight.

Wishing you great luck with your business.

Ron & Guy

I just returned from a six day trip to the west coast that consisted of speaking engagements and visiting clients. I met many wonderful people in my classes and learned much from them too. Of course there is much to do when you return from a “road trip” and being out of the office for that long a period of time. It is good to be home and reflect before one of my favorite holidays. Thanksgiving!

I am truly blessed. I spent time with Jeff Stokes and Brad Humphrey two wonderful people. My Seattle clients treated me to a wonderful show Sunday night. If you are in Seattle you must see Teatro ZinZanni. I just spoke to one of my local clients and they are inviting Sandy and I to their company Christmas party. What an honor. I have a great business partner with Ron and my words of joy and gratitude are just a few adjectives that describe my life partner Sandy. Life is Good!

So I wanted to share with you some additional words inscribed on a piece of ceramic artwork that is hanging in my Chicago office. It was given to me a few years ago by Alan Rose of Rose Paving when I was their COO.

“Watch your thoughts, they become words”
“Watch your words they become actions”
“Watch your actions, they become habits”
“Watch your habits they become character”
“Watch your character it become your destiny”

Happy Thanksgiving to all!

Guy and Ron

Ron and I both present keynote speeches, seminars and workshops for industry conventions and company specific organizations . If you are interested in a list of our seminar topics or workshops feel free to drop us an email. In case you are in Las Vegas this week I will be speaking at the National Pavement Exposition West located at the Las Vegas Convention Center.

• On Friday November 21st, at 8:00 am I will present the popular 90 minute seminar tilted “Secrets of Successful Job Costing and Creating Measurable Goals”.
• On Saturday November 22nd, at 8:00 am I will present the renowned 90 minute seminar tilted “Gotcha! Attitude Is Everything In Sales”

Hope to see you at one of our future presentations or we would be delighted to customize one just for your organization.

Guy and Ron

I just reviewed the list of 85 newsletters that Ron has written over the last 2 years. They have given you readers an awesome amount of helpful information and inspiration. Oh and did I mention that Ron provided these free of charge!

I figure that at an average of 1500 words per newsletter multiplied by 85 issues, Ron has provided you with facts and information equivalent to two business books. Again Ron has done this selflessly without pay and much praise.

So I ask all of you who have benefited to send Ron a thank you email. Send it to: ron@filtyrichcontractor.com

For those of you who haven’t subscribed yet… What are you waiting for? It is some of the best info. and advice out there for contractors.

Ron thanks for your newsletter, partnership and friendship!

Guy

I thought about posting this blog before the election took place but I just was unable to find the time to accomplish it. Let me reiterate that we do not promote or discuss any political viewpoints on our website. The purpose of this post is very direct. Don’t allow national or state election results or the state of the economy to provide an excuse as to why you or your company is not doing as well as it should.

Unless you are part of a global or national company which probably excludes most of our readers you can develop a strategic plan that will minimize the impact of what the economy and government have on your business. Don’t get me wrong, this doesn’t mean that you necessarily can continue doing things the same way you always have. Change has been and will continue to be in the making for most facets of the construction industry. The reality is you have control on what changes your company will make. We also have a choice on how we react to market conditions.

Now is the time to analyze your business according to our six critical success factors which you can navigate to by clicking on this topic from our home page. One of the points I would like to make is for you to spend less time worrying and allocate more time to planning your future successes.

Guy and Ron

Had lunch today with a couple of pipe fitters.

Good food. Good conversation.

I find that field guys often have really insightful perspectives about business and life. Anyway…

During the conversation each threw out a saying that they had heard recently. One from his minister and the other during a visitation. I thought you might reading enjoy them.

From Danny:

“Following the path of least resistance makes rivers and men run crooked.”

From Ray:

“Uphold your name. Every morning, your goal should be to better your name. Everything you do throughout the day should better your name. In the end, people remember your name.”

Thank you Danny and Ray for the sage advice.

Best of luck with your business.

Ron & Guy

You know when you’re listening to someone or reading something how a word will really grab your attention in a new way? A word that is very familiar to you but suddenly hits you with a new meaning or insight?

That happened to me the other day.

In this case, the word that made me go “hmmmm” was TALENT.

I hear the words ABILITY and SKILL used frequently.  When I heard a talk radio guy mention that a well known public figure had a TALENT, I thought eureka! That’s a great way to phrase a person’s natural gifts. They are TALENTS.

When you hear that someone does or does not have a certain talent, you know what that means, right? It means the related task will be really easy or really hard for the individual to perform.

It made me think about the difficulties of running a business by yourself. The wide range of talents required to run a business effectively is almost mind boggling.

That wide range really points out the difficulties of being the one and only rock of your business. It explains why all great businesses, no matter how large or small, are built on a high performance team. Sure, they are inspired, lead, and driven by the top dog. But, it takes a team to pull it off because rare is the person who was born with all the talents necessary to run smoothly something as complex as a business.

If you’ve been thinking that maybe you need to find some additional players to help you with your business, you’re probably right. It’s highly unlikely that you possess all the talents necessary to achieve your business goals all by yourself.

Wishing you the best of luck with your business.

Ron & Guy,
The Contractor’s Business Coach

Your bank probably hasn’t brought something to your attention that you need to be aware of. So, I’m going to. That’s what we’re here for, right?

A couple of weeks back, I deposited a check from a very large, very credible company. A company that has offices throughout the world. A day later, I happened to be looking at my account online and noticed my bank hadn’t cleared the deposit yet.  In other words the money wasn’t available.  It took three days for the money to become available.

Banks are allowed to take up to 3 days to clear deposits. When times are good, meaning when they can trust each other, deposits typically clear in less than a day. When times are not so good, meaning when they can’t trust each other – like right now, they take the full amount of time they are allowed by regulation.

Fortunately, I didn’t need my deposit to be accessible. Many contractors are not so lucky.

Many wait desperately for large checks on long past due accounts to arrive. They shout for joy the moment the check arrives and race off to the bank to deposit it. Often, due to payroll, payroll taxes, and overdue material bills, they need the money to be available almost the second it hits the bank.

That’s not going to happen right now or in the near future. Plan ahead. Keep a close eye on your bank accounts. Don’t try to withdraw the money before it is available.

Wishing you all the best.

Ron & Guy