#07: Scott Stroud, Key Drivers for Your Business

Scott Stroud is a founding partner of Cash Flow Engineering, a company that helps home builders and business owners create process to simplify business management and optimize cash flow. He is also a nationally-known speaker and the co-author of three books, including Managing Your Business with 7 Key Numbers, which is among the top selling home building books. Show Notes: [1:40] – The 7 key numbers every builder should review. [4:50] – The frequency you should be reviewing your numbers. [6:20] – Scott’s cash flow dashboard. [7:20] – The most difficult metrics to control and what to do about it. [9:00] – Why you should first establish a profit goal and then put in the processes to support it. [10:10] – Managing change orders. [11:00] – Finding the optimal pricing for your homes. [12:00] – Establishing the value of our offering. [13:40] – Why the best value propositions have nothing to do with quality. [15:10] – On knowing your customer’s value system. [15:35] – How to craft an amazing story to tell your clients. [18:00] – Why you should be using video in your marketing. [19:50] – How to reduce your costs without sacrificing quality [22:35] – Three drivers for your business you should be watching. [24:10] – The importance of speed and efficiency. [25:00] – Thoughts on leverage. [29:30] – On customer deposits. [32:00] – Valuing your time. Selected Links: www.cashflowengineering.com www.storybrand.com