My father was a carpenter.
Inspired by him, I took up the tool and spent 7 years as a plumber before I ventured into business.
So, believe me…
I can totally see how tough it is to navigate this industry.
Whether you’re a builder, plumber, carpenter etc
There are some incredibly unique factors that come with owning a business of this nature.
Factors that aren’t often considered.
What happens when you’re in your 40s, 50s… or even 60s?
I have all the respect in the world for those who do it,
But that’s not an easy field to work in later in life.
Even outside of the pressures on the body, there is business pressure too.
What about the 90-day term cash flow cycles that apply to almost every trade?
If not extremely careful, I can totally see why many unknowing business owners are getting caught by this.
I don’t mean to put down the industry…
Actually, quite the opposite.
There are some huge advantages to having this skill set.
If played right…
You have a unique opportunity to grow your wealth that other business owners don’t.
Once you have built a business that is sustaining itself,
Why not begin to accumulate cash-flowing assets by working on your own projects?
When I was a tradesman, I didn’t see the benefits…
Fortunately, I’m here to share what I would do differently! ☺️
In this week’s podcast episode, Grant and I are breaking down how we would scale a building company.
We’ll be discussing:
– Leveraging your skill sets
– De-risking your cash flow cycles
– As well as risks, funding and more!
All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision
00:00 Welcome to Business and Investing
06:07 Challenges in the trades industry
10:00 Getting to know the people in trades
12:59 Looking into the demand for work
17:57 De-risking your cash flow cycle
21:07 The importance of referrals and marketing
24:42 Leveraging your skills as a tradie
28:05 What are the risks you should avoid in trades?
33:22 Exploring the potential of prefab houses and second dwellings
45:10 Funding your building services
51:38 Scaling your building company
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