196. The Financial Secrets of $10MM Contractors - Bob Gauvreau

Grab your free "goodie bag" of financial management templates here: https://trybta.com/DL196  To learn more about Breakthrough Academy, click here: https://trybta.com/EP196  If you’ve made it this far in business, I probably don’t need to tell you that need to budget, track your overhead, and do job costing. The problem is: nobody ever shows you HOW. A few weeks back, we co-hosted a webinar with our friend Bob Gauvreau from Gauvreau Accounting Tax Law Advisory to teach 7-figure contractors everything they need to know about managing their finances. We talked about budgeting, job costing, avoiding cash crunches and more. And today, we’re replaying it here on the podcast so more contractors can benefit from the insights. This is a must-listen for anyone whose New Year’s Resolution is to get better at financial management. Episode Highlights: 00:00-Intro02:34-About the session03:47-About our free templates (link in description)05:24-Why talk cash flow and budgeting?06:50-About Benji & Bob08:05-Purpose, Outcomes & Agenda10:59-Why is staying on top of your numbers so hard?13:41-Common challenges with financial management21:41-3 Core Systems of Financial Management36:23-Industry Benchmarks - Profit Margins41:20-Margins as you evolve46:21-Signs you should be worried about your cash flow51:04-Five Cash Flow Destroyers59:33-How to implement change01:07:18-Q&ASee omnystudio.com/listener for privacy information.