29. Understanding Construction Financials With Andy Skarda

In episode 29 of the Professional Builders Secrets podcast, we’re joined by APB’s Head Coach, Andy Skarda. Throughout this episode, we get into the fundamentals of construction financials, and how much of a part financial awareness can play in a builder's success. During this episode, Andy discusses the reason builders fail when it comes to their financials, and how they can start to take action, analyse their financials, and come out on top in the end. Its evident builders need to set targets, exceed benchmarks, and closely monitor their KPIs. Within episode 29, Andy goes into detail about why these aspects are so important, and how you can better implement them. Andy also delves into the five key things you need to focus in on as a professional builder. Revenue, cost of sales, gross profit, fixed expenses and net profit/margin. Listen to the full episode to learn more about these key fundamentals and better understand your construction financials. ABOUT ANDY SKARDA Andy Skarda has owned and led businesses in South Africa, the United States, South-East Asia, and for the last decade, Australia. With 30+ years of business experience, Andy heads up the coaching team at the Association of Professional Builders (APB), helping business owners in the building industry identify and implement the skills and systems they need to be successful, without needing to go back to school or more importantly, without going bust.. Connect with Andy: linkedin.com/in/andy-skarda-92a6875/ TIMELINE 1:15 The fundamentals in construction financials. 4:37 How financial awareness plays part in a builder's success. 5:37 The financial framework for professional builders. 12:23 Setting targets and exceeding benchmarks. 25:48 KPIs builders must be monitoring. 31:10 How APB members efficiently monitor their numbers. 36:18 Why builders fail when it comes to financials. 38:36 How to take action after analysing your financials. 41:23 Financial trends affecting builders. 43:35 Where to start. LINKS, RESOURCES & MORE APB Website: associationofprofessionalbuilders.com APB on Instagram: instagram.com/apbbuilders/ APB on Facebook: facebook.com/associationofprofessionalbuilders APB on YouTube: youtube.com/c/associationofprofessionalbuilders Join the Professional Builders Secrets Facebook group for builders & connect with professional builders world-wide: facebook.com/groups/builderssecrets