Building Optimal Radio: Recent Episodes
Jared Gossett
A podcast for builders by a builder. Host, Jared Gossett, President of award-winning Gossett & Co in Austin, offers lessons and interviews with industry leaders that will help you build not just great houses but a great business.
Joey Fentress is the founder and owner of Proform Builds, a Seattle-based luxury home builder. Joey recently expanded his operation into Austin, where I was introduced to him and his team. The level of professionalism with which Joey runs his business is evident in just a short conversation, and it's reflected in the quality of their builds.
This episode is a conversation with Joey about his in-house labor, and how he manages that aspect of his business. Enjoy the episode, and if you like this and others we have done, it would be a huge help if you leave us a review here in your podcast player. Thanks for listening!
Also, we just released new products to take your home building company to the next level at the BUILDING OPTIMAL SHOP.
Thank you to our amazing brand partners
Subzero Wolf Cove
Grand Openings
A quick 7-minute episode to help you make more progress and find some big wins in your business. Credit to Tim Ferriss for his recent blog post on the topic, the inspiration for this episode.
If you enjoy listening to the podcast, please do us a favor and leave us a review on Spotify or Apple!
Also, we just released new products to take your home building company to the next level at the BUILDING OPTIMAL SHOP.
Thank you to our amazing brand partners
Subzero Wolf Cove
Grand Openings
We've been obsessed for over a year now with different AI apps that can help home builders. This is an extremely short episode on the best we've found. Enjoy!
If you enjoy listening to the podcast, please do us a favor and leave us a review on Spotify or Apple!
Also, we just released new products to take your home building company to the next level at the BUILDING OPTIMAL SHOP.
Thank you to our amazing brand partners
Subzero Wolf Cove
Grand Openings
This is one of the most inspiring episodes I've recorded. I have mentored Joe Hodge over the last few years as he set out on his dream to start his own home building company. Starting alone is difficult enough, but the market forces over the last few years added major complications as Joe came out of the gate.
But Joe is a fighter (literally and metaphorically), and built a resoundingly successful project even with serious headwinds. We visit on both his wins and his lessons learned from this first of what will surely be many successful projects as Joe grows his company.
Enjoy the episode!
If you enjoy listening to the podcast, please do us a favor and leave us a review on Spotify or Apple!
Also, we just released new products to take your home building company to the next level at the BUILDING OPTIMAL SHOP.
Thank you to our amazing brand partners
Subzero Wolf Cove
Grand Openings
Quaker
Gossett & Co recently closed two construction loans with Arixa Capital, and sat down with executive Greg Hebner and his team during their visit to Austin. The group discusses the Austin market, California immigration, the latest market and financing trends, qualities of a good lender, and more. Thanks for listening.
If you enjoy listening to the podcast, please do us a favor and leave us a review on Spotify or Apple!
Also, we just released new products to take your home building company to the next level at the BUILDING OPTIMAL SHOP.
Thank you to our amazing brand partners
Subzero Wolf Cove
Grand Openings
Quaker
This is the final installment of our series on Charlie Munger, an episode devoted to the memory of the late investor who recently passed away. In this episode we cover the reason to read, the need to get into a great business, and the only way to run a good company.
If you enjoy listening to the podcast, please do us a favor and leave us a review on Spotify or Apple!
Also, we just released new products to take your home building company to the next level at the BUILDING OPTIMAL SHOP.
Thank you to our amazing brand partners
Subzero Wolf Cove
Grand Openings
Quaker
In the third installment of our mini-series on Charlie Munger, we delve deeper into the wisdom of one of the greatest investors and thinkers of our time. This episode continues up our series with a focus on Munger's most impactful strategies and philosophies that have influenced generations of investors and entrepreneurs.
If you enjoy listening to the podcast, please do us a favor and leave us a review on Spotify or Apple!
Also, we just released new products to take your home building company to the next level at the BUILDING OPTIMAL SHOP.
Thank you to our amazing brand partners
Subzero Wolf Cove
Grand Openings
Quaker
Part 2 of our mini-series on Charlie Munger, one of the greatest investors of all time. He’s also one of the most profound thinkers of our era. This continues a multi-part series of short episodes dissecting some of Jared’s favorite lessons from the investing giant.
If you enjoy listening to the podcast, please do us a favor and leave us a review on Spotify or Apple!
Also, we just released new products to take your home building company to the next level at the BUILDING OPTIMAL SHOP.
And don't forget to sign up for our NEWSLETTER where we have all kinds of good tips and info you don't get with the podcast.
Thank you to our amazing brand partners
Subzero Wolf Cove
Grand Openings
Quaker
Charlie Munger is one of the greatest investors of all time. He’s also one of the most profound thinkers of our era. This begins a multi-part series of short episodes dissecting some of Jared’s favorite lessons from the investing giant.
If you enjoy listening to the podcast, please do us a favor and leave us a review on Spotify or Apple!
And don't forget to sign up for our NEWSLETTER where we have all kinds of good tips and info you don't get with the podcast.
Tools to make more money and grow your biz
Need a little help growing your business or making more money at it? In addition to almost 100 free episodes of the podcast, check out The Building Optimal Shop, a place where we have business tools for builders and contractors…and the list is growing. Or, if you want full-scale consulting or business startup help, check out our brand new:
Building Optimal Business Accelerator
Thank you to our amazing brand partners
Lowe’s and the new Lowe’s MVP Pro Rewards Program
Subzero Wolf Cove
Huber Engineered Woods
Grand Openings
Quaker
This is a departure from our regular programming - Jared shares a very short story from World War II, and how you can apply it as a problem-solving model in your own business.
If you enjoy listening to the podcast, please do us a favor and leave us a review on Spotify or Apple!
And don't forget to sign up for our NEWSLETTER where we have all kinds of good tips and info you don't get with the podcast.
Looking for tools to make more money and grow your biz?
In addition to almost 100 free episodes of the podcast, check out The Building Optimal Shop, a place where we have business tools for builders and contractors…and the list is growing. Or, if you want full-scale consulting or business startup help, check out our:
Building Optimal Business Accelerator
Thank you to our amazing brand partners...
Lowe’s and the new Lowe’s MVP Pro Rewards Program
Subzero Wolf Cove
RAM Windows
Trey Farmer is an architect with Forge Craft Architecturehere in Austin. We interviewed him previously on#63: Lessons From a Passive House Build. Today we revisit some of those passive home principles and also discuss some of his beliefs for building healthier, more grid-resilient homes.
If you enjoy listening to the podcast, please do us a favor and leave us a review on Spotify or Apple!
And don't forget to sign up for our NEWSLETTER where we have all kinds of good tips and info you don't get with the podcast.
Tools to make more money and grow your biz
Need a little help growing your business or making more money at it? In addition to almost 100 free episodes of the podcast, check out The Building Optimal Shop, a place where we have business tools for builders and contractors…and the list is growing. Or, if you want full-scale consulting or business startup help, check out our brand new:
Building Optimal Business Accelerator
Thank you to our amazing brand partners
Lowe’s and the new Lowe’s MVP Pro Rewards Program
Subzero Wolf Cove
Huber Engineered Woods
RAM Windows
It's hard to spend a few minutes chatting with Jacob Deva Racusin without leaving inspired. He is the Director of Building Science and Sustainability for New Frameworks, an innovative, socially inclusive design/build firm in Vermont. He also serves as an Embodied Carbon Analyst and BEAM Trainer with Builders for Climate Action.
In this conversation we discuss Jacob's ideas on how to minimize the embodied carbon in our buildings or even turn them into carbon sinks. Jacob also shares his benefits of straw bale building techniques and the socially inclusive culture they have created through a worker's co-op structure at New Frameworks.
Enjoy!
Links from the episode:
Builders for Climate Action
BEAM Estimator
New Frameworks Website
New Frameworks on Instagram
Croft Straw Panels
The U.S. Federation of Worker Cooperatives
Companies We Keep, by John Abrams
Tools to make more money and grow your biz
Need a little help growing your business or making more money at it? In addition to almost 100 free episodes of the podcast, check out The Building Optimal Shop, a place where we have business tools for builders and contractors…and the list is growing. Or, if you want full-scale consulting or business startup help, check out our brand new:
Building Optimal Business Accelerator
Thank you to our amazing brand partners
Lowe’s and the new Lowe’s MVP Pro Rewards Program
Subzero Wolf Cove
Huber Engineered Woods
RAM Windows
In this conversation we sit down with Dan Kolbert, co-author of Pretty Good House, and owner of Kolbert Building in Portland, Maine, to discuss high performance homes, the next evolution in building, and Dan's advice in today's economy.
Links mentioned:
Pretty Good House Book
Water in Buildings, by Bill Rose
Christine Williamson's Instagram
Huber Engineered Wood
Climate Zone Map
Timber HP
BEAM Estimator
BS and Beer
Tools to make more money and grow your biz
Need a little help growing your business or making more money at it? In addition to almost 100 free episodes of the podcast, check out The Building Optimal Shop, a place where we have business tools for builders and contractors…and the list is growing. Or, if you want full-scale consulting or business startup help, check out our brand new:
Building Optimal Business Accelerator
Thank you to our amazing brand partners
Lowe’s and the new Lowe’s MVP Pro Rewards Program
Subzero Wolf Cove
Huber Engineered Woods
RAM Windows
We have a new, slightly different (and hopefully upgraded) direction for Building Optimal, and are excited to share it with you in this episode.
We also visit with Mark Sprague, State Director of Information Capital for Independence Title. Mark is one of the most respected real estate market analysts and forecasters in Texas, and shares some of his insights with us in this short, 25-minute episode. In full disclosure, 75% of the information Mark Shares is specific to Austin or Texas, but 25% covers a national focus.
Enjoy!
Tools to make more money and grow your biz
Need a little help growing your business or making more money at it? In addition to almost 100 free episodes of the podcast, check out The Building Optimal Shop, a place where we have business tools for builders and contractors…and the list is growing. Or, if you want full-scale consulting or business startup help, check out our brand new:
Building Optimal Business Accelerator
Thank you to our amazing brand partners
Lowe’s and the new Lowe’s MVP Pro Rewards Program
Subzero Wolf Cove
Huber Engineered Woods
RAM Windows
David Gerstel has written some of the top books available for construction professionals who want to build a better business. His latest book, https://www.amazon.com/Building-Freedom-Construction-Financial-Independence/dp/0982670923/ref=sr_1_2?crid=1A13F1OKZTAY5&keywords=david+gerstel&qid=1660227466&sprefix=david+gerstel%2Caps%2C162&sr=8-2 (Building Freedom: A Construction Pro's Path to Financial Independence), is the topic of today's conversation. We cover some novel concepts from David such as Employee-Centered Companies, thinking errors that hold us back, his research on selling construction companies, and more. In the episode we discuss a few books:
https://amzn.to/3ds7ds3 (Small Giants: Companies That Choose to be Great Instead of Big) https://amzn.to/3pgyy34 (Cognitive Behavioral Therapy Made Simple)
Please enjoy this enlightening episode!
Tools to make more money and grow your biz Need a little help growing your business or making more money at it? In addition to almost 100 free episodes of the podcast, check out https://www.buildingoptimal.com/shop (The Building Optimal Shop), a place where we have business tools for builders and contractors…and the list is growing. Or, if you want full-scale consulting or business startup help, check out our brand new: https://www.buildingoptimal.com/the-builder-accelerator (Building Optimal Business Accelerator)
Muchas gracias to our amazing brand partners https://www.lowes.com/l/Pro/pro-benefits (Lowe’s and the new Lowe’s MVP Pro Rewards Program) https://www.subzero-wolf.com/ (Subzero Wolf Cove) https://www.huberwood.com/ (Huber Engineered Woods) https://ramwindows.com/ (RAM Windows)
We are visiting with https://www.linkedin.com/in/amy-kerr-13b4a198/ (Amy Kerr) of https://www.subzero-wolf.com/ (Sub-Zero Wolf Cove) to discuss supply chain updates and new innovations in their appliance lines. This episode is a short one, but full of great updates. Enjoy! Tools to make more money and grow your biz Need a little help growing your business or making more money at it? In addition to almost 100 free episodes of the podcast, check out https://www.buildingoptimal.com/shop (The Building Optimal Shop), a place where we have business tools for builders and contractors…and the list is growing. Or, if you want full-scale consulting or business startup help, check out our brand new: https://www.buildingoptimal.com/the-builder-accelerator (Building Optimal Business Accelerator)
Muchas gracias to our amazing brand partners https://www.lowes.com/l/Pro/pro-benefits (Lowe’s and the new Lowe’s MVP Pro Rewards Program) https://www.subzero-wolf.com/ (Subzero Wolf Cove) https://www.huberwood.com/ (Huber Engineered Woods) https://ramwindows.com/ (RAM Windows)
https://wjsbuilders.com/ (Wally Staples) is back. This time, we talk specifics of his employee compensation practices as well as some of his principles for being an "anti-fragile" builder. And don't miss my first interview with Wally, https://www.buildingoptimal.com/episodes/68-ensuring-profitability-and-employees-first-with-wally-staples (#68: Ensuring Profitability and Employees First with Wally Staples). Enjoy the episode!
Tools to make more money and grow your biz
Need a little help growing your business or making more money at it? In addition to almost 100 free episodes of the podcast, check out https://www.buildingoptimal.com/shop (the Building Optimal Shop), a place where we have business tools for builders and contractors…and the list is growing. Or, if you want full-scale consulting or business startup help, check out our brand new: https://www.buildingoptimal.com/the-builder-accelerator (Building Optimal Business Accelerator)
Muchas gracias to our amazing brand partners
https://www.lowes.com/l/Pro/pro-benefits (Lowe’s and the new Lowe’s MVP Pro Rewards Program) https://www.subzero-wolf.com/ (Subzero Wolf Cove) https://www.huberwood.com/ (Huber Engineered Woods) https://ramwindows.com/ (RAM Windows)
Vik Szemerei is the Vice President of Sales for luxury plumbing company, https://houseofrohl.com/ (House of Rohl). They own brands such as Riobel, Victoria and Albert, and Rohl. We discuss cool new plumbing trends like https://www.moen.com/aromatherapy?utm_source=google&utm_medium=cpc&utm_campaign=brand_part_bath_shower_inly_google_broad&utm_content=brand_inly_broad-_-&utm_term=moen%20aromatherapy&gclid=CjwKCAjwjZmTBhB4EiwAynRmDzzTNuGsNI5FxSTXgD1ngor2fxVA1n9lg7UZwzgC4D9qdfrdh2tGwxoC1R8QAvD_BwE&gclsrc=aw.ds (aromatherapy shower heads), https://houseofrohl.com/shaws/ (hand-crafted fireclay sinks), https://houseofrohl.com/armstrong-pulldown-touchless-kitchen-faucet-polished-chrome-with-metal-lever-handle-u-4534ht-apc-2/ (touchless faucets), and more.
And, to my delight, Vik explains the rise in popularity of biophilic design as we find ways to make our homes healthier and more comfortable.
Enjoy the episode!
Tools to make more money and grow your biz
Need a little help growing your business or making more money at it? In addition to almost 100 free episodes of the podcast, check out the Building Optimal Shop, a place where we have business tools for builders and contractors…and the list is growing. Or, if you want full-scale consulting or business startup help, check out our brand new:
https://www.buildingoptimal.com/the-builder-accelerator (Building Optimal Business Accelerator)
Muchas gracias to our amazing brand partners
https://www.lowes.com/l/Pro/pro-benefits (Lowe’s and the new Lowe’s MVP Pro Rewards Program)https://www.subzero-wolf.com/sub-zero?PID=ppcpreference_subzero_2020:google:cpc:tribrand_preference:paidsearch&promoID=AAAA0654&ef_id=CjwKCAjwuYWSBhByEiwAKd_n_kR3kLWCZbpJOwTBE2WczsyMdNgoWs91uPgLqja1NPrxXY10cja2lRoCv7wQAvD_BwE:G:s&s_kwcid=AL!8580!3!421658033233!e!!g!!sub%20zero!9520549080!93984483101&gclid=CjwKCAjwuYWSBhByEiwAKd_n_kR3kLWCZbpJOwTBE2WczsyMdNgoWs91uPgLqja1NPrxXY10cja2lRoCv7wQAvD_BwE (Wolf/Subzero) https://www.huberwood.com/ (Huber Engineered Woods) https://ramwindows.com/ (RAM Windows)
Jared shares some of the lessons from his home building journey, and announces the latest offering from Building Optimal...our Builder Accelerator, to help others find success and build a great company. To learn more about the Builder Accelerator, go to: https://www.buildingoptimal.com/the-builder-accelerator (https://www.buildingoptimal.com/the-builder-accelerator) Use code LAUNCH between now and 5/19/22 For 20% off all our products at the Building Optimal Shop.
As always, a special thanks to our show sponsors:
https://www.lowes.com/l/Pro/pro-benefits (Lowe’s and the new Lowe’s MVP Pro Rewards Program) https://www.subzero-wolf.com/sub-zero?PID=ppcpreference_subzero_2020:google:cpc:tribrand_preference:paidsearch&promoID=AAAA0654&ef_id=CjwKCAjwuYWSBhByEiwAKd_n_kR3kLWCZbpJOwTBE2WczsyMdNgoWs91uPgLqja1NPrxXY10cja2lRoCv7wQAvD_BwE:G:s&s_kwcid=AL!8580!3!421658033233!e!!g!!sub%20zero!9520549080!93984483101&gclid=CjwKCAjwuYWSBhByEiwAKd_n_kR3kLWCZbpJOwTBE2WczsyMdNgoWs91uPgLqja1NPrxXY10cja2lRoCv7wQAvD_BwE (Wolf/Subzero) https://www.huberwood.com/ (Huber Engineered Woods) https://ramwindows.com/ (RAM Windows)
There are a lot of misconceptions about https://www.huberwood.com/zip-system/wall-sheathing?gclid=CjwKCAjw9e6SBhB2EiwA5myr9pVuF8eF1c2XKjJmxJ52FNEOp1k2IJsUJG3PujQXRNzBcv6jK1ZH9xoCqpsQAvD_BwE (Zip System).® Mike Dye, Senior Engineer at https://www.huberwood.com/ (Huber Engineered Woods), joins us to dispel those and also provide some useful ideas to improve the efficiency and sustainability of your builds. Enjoy the episode! New products launching in the Building Optimal Shop!
Need a little help growing your business or making more money at it?
In addition to almost 100 free episodes of the podcast, check out the Building Optimal Shop, a place where we have business tools for builders and contractors…and the list is growing.
Or, if you want full-scale consulting or business startup help, check out our brand new:
https://www.buildingoptimal.com/the-builder-accelerator (Building Optimal Business Accelerator)
Muchas gracias to our amazing brand partners:
https://www.lowes.com/l/Pro/pro-benefits (Lowe’s and the new Lowe’s MVP Pro Rewards Program)
https://www.subzero-wolf.com/sub-zero?PID=ppcpreference_subzero_2020:google:cpc:tribrand_preference:paidsearch&promoID=AAAA0654&ef_id=CjwKCAjwuYWSBhByEiwAKd_n_kR3kLWCZbpJOwTBE2WczsyMdNgoWs91uPgLqja1NPrxXY10cja2lRoCv7wQAvD_BwE:G:s&s_kwcid=AL!8580!3!421658033233!e!!g!!sub%20zero!9520549080!93984483101&gclid=CjwKCAjwuYWSBhByEiwAKd_n_kR3kLWCZbpJOwTBE2WczsyMdNgoWs91uPgLqja1NPrxXY10cja2lRoCv7wQAvD_BwE (Wolf/Subzero)
https://www.huberwood.com/ (Huber Engineered Woods)
https://ramwindows.com/ (RAM Windows)
https://ramwindows.com/ (RAM Windows) has emerged as one of the leading window manufacturers in the State of Texas and beyond. We use their modern-design, aluminum windows on most of our projects (you can see them on our recent https://gossettco.com/portfolio/445/ (Kennelwood project here)). As a brand partner of ours, I’ve gotten to personally know Eric Spence, President and CEO. It’s easy to see why RAM has experienced the growth trajectory it has with him at the helm. He is a superb leader and a master with all things windows and building science. In this interview, we cover a wide range of topics from Eric’s leadership advice to his views on the future of window technology. Enjoy a discussion with one of the industry’s truly great leaders.
Video referenced in the episode - https://www.youtube.com/watch?v=SnfWATH9xG8 (Cement: The Scale of the Problem)
Need a little help growing your business or making more money at it?
In addition to almost 100 free episodes of the podcast, check out the https://www.buildingoptimal.com/the-shop (Building Optimal Shop), a place where we have business tools for builders and contractors…and the list is growing.
Or, if you want full-scale consulting or business startup help, contact me at jared@gossettco.com. We are a full-time building company - not a coach or mentor - but we have doubled over revenue to more than $50 million while actually cutting our overhead. And I’m happy to share what I know with those who could benefit from it.
Fair warning, if it were a restaurant it would be $$$, my friends. But it also would have made me a few million more dollars if I had access to my current systems and thinking early in my career. Send me an email if you want to visit further.
Muchas gracias to our amazing brand partners:
https://www.lowes.com/l/Pro/pro-benefits (Lowe’s and the new Lowe’s MVP Pro Rewards Program)
https://www.subzero-wolf.com/sub-zero?PID=ppcpreference_subzero_2020:google:cpc:tribrand_preference:paidsearch&promoID=AAAA0654&ef_id=CjwKCAjwuYWSBhByEiwAKd_n_kR3kLWCZbpJOwTBE2WczsyMdNgoWs91uPgLqja1NPrxXY10cja2lRoCv7wQAvD_BwE:G:s&s_kwcid=AL!8580!3!421658033233!e!!g!!sub%20zero!9520549080!93984483101&gclid=CjwKCAjwuYWSBhByEiwAKd_n_kR3kLWCZbpJOwTBE2WczsyMdNgoWs91uPgLqja1NPrxXY10cja2lRoCv7wQAvD_BwE (Wolf/Subzero)
https://www.huberwood.com/ (Huber Engineered Woods)
https://ramwindows.com/ (RAM Windows)
Brian Potter is the author of https://constructionphysics.substack.com/ (Construction Physics), the best blog on construction news and innovation that I've found. "https://constructionphysics.substack.com/p/why-its-hard-to-innovate-in-construction?utm_source=url (Why It's Hard to Innovate in Construction)" is one of my favorite and a central theme in today's discussion. Brian is a structural engineer by training. He is currently a Senior Fellow at the Institute for Progress and previously led an engineering team at Katerra. Enjoy the episode!
Have any topics you want me to discuss, guests to interview, or feedback about the show? DM me on Instagram https://www.instagram.com/buildingoptimal/ (@buildingoptimal) or send me an email at jared@gossettco.com. And thank you to Lowe’s for sponsoring today’s episode! Learn more about Lowe’s for Pros https://www.lowes.com/l/Pro/pro-benefits.html?cm_mmc=inf-_-b-_-prd-_-tol-_-gpr-_-jgos-_-wb-_-smp-_-rev-_-spy081221 (HERE) Want more good stuff? Sign up for the Building Optimal email http://buildingoptimal.com/email (HERE).
This is one of my favorite conversations to date with Luke Mezger, a top builder from Austin, Texas. Luke is Owner of https://mezgerhomes.com/ (Mezger Homes), a superb leader, and a brilliant student of the game. He lays out probably a dozen actionable tips most of us can implement today to build a better company. Enjoy the episode! Have any topics you want me to discuss, guests to interview, or feedback about the show? DM me on Instagram https://www.instagram.com/buildingoptimal/ (@buildingoptimal) or send me an email at jared@gossettco.com. And thank you to Lowe’s for sponsoring today’s episode! Learn more about Lowe’s for Pros https://www.lowes.com/l/Pro/pro-benefits.html?cm_mmc=inf-_-b-_-prd-_-tol-_-gpr-_-jgos-_-wb-_-smp-_-rev-_-spy081221 (HERE) Want more good stuff? Sign up for the Building Optimal email http://buildingoptimal.com/email (HERE).
Austin Miller is an Australian carpenter and builder who moved to Canada six years ago to build in the remote Arctic. In this episode we are exploring how building works in one of the world's most inhospitable places. If nothing else, this episode will make you extremely grateful next time you are looking for a bolt on your own jobsite (gotta listen to understand)! Have any topics you want me to discuss, guests to interview, or feedback about the show? DM me on Instagram https://www.instagram.com/buildingoptimal/ (@buildingoptimal) or send me an email at jared@gossettco.com. And thank you to Lowe’s for sponsoring today’s episode! Learn more about Lowe’s for Pros https://www.lowes.com/l/Pro/pro-benefits.html?cm_mmc=inf-_-b-_-prd-_-tol-_-gpr-_-jgos-_-wb-_-smp-_-rev-_-spy081221 (HERE) Want more good stuff? Sign up for the Building Optimal email http://buildingoptimal.com/email (HERE). Visit our online store to see our products to build a better business. https://www.buildingoptimal.com/the-shop (HERE)
Gabe Jewell is CEO of https://mtcopeland.com/ (MT Copeland), a new online education platform to learn the building and construction trades. We need more affordable, accessible education within our industry. It’s why I started Building Optimal, and it’s why I’m a fan of what Gabe and his team are doing. Check out the episode to learn about what these innovators are doing to help builders, and you just may find a class you want to take. I have no financial incentive, btw. Just like what these guys are about! Keep up to date with MT Copeland on Instagram, https://instagram.com/mt.copeland?utm_medium=copy_link (@mt.copeland).
Have any topics you want me to discuss, guests to interview, or feedback about the show? DM me on Instagram https://www.instagram.com/buildingoptimal/ (@buildingoptimal) or send me an email at jared@gossettco.com. ... And thank you to Lowe’s for sponsoring today’s episode! Learn more about Lowe’s for Pros https://www.lowes.com/l/Pro/pro-benefits.html?cm_mmc=inf-_-b-_-prd-_-tol-_-gpr-_-jgos-_-wb-_-smp-_-rev-_-spy081221 (HERE) ... Want more good stuff? Sign up for the Building Optimal email http://buildingoptimal.com/email (HERE).
Pre-selling your homes under construction isn’t all rainbows and kittens, as many veterans know. Check out this short episode to learn the pros, cons, and nuances of pre-selling. Plus, I share some of my own strategies for crafting a more favorable pre-sell for your company. Have any topics you want me to discuss, guests to interview, or feedback about the show? DM me on Instagram https://www.instagram.com/buildingoptimal/ (@buildingoptimal) or send me an email at jared@gossettco.com.
And thank you to Lowe’s for sponsoring today’s episode! Learn more about Lowe’s for Pros https://www.lowes.com/l/Pro/pro-benefits.html?cm_mmc=inf-_-b-_-prd-_-tol-_-gpr-_-jgos-_-wb-_-smp-_-rev-_-spy081221 (HERE)
Want more good stuff? Sign up for the Building Optimal email http://buildingoptimal.com/email (HERE) (sign-up top of home page).
A messy or worse, non-existent, change order system can sink a home builder. What should be a source of profits is often a place of loss and chaos. We can fix that in a hurry, though. Here is my company’s strategy to change order the right way. Have any topics you want me to discuss, guests to interview, or feedback about the show? DM me on Instagram https://www.instagram.com/buildingoptimal/ (@buildingoptimal) or send me an email at jared@gossettco.com. Learn more about Lowe’s for Pros https://www.lowes.com/l/Pro/pro-benefits.html?cm_mmc=inf-_-b-_-prd-_-tol-_-gpr-_-jgos-_-wb-_-smp-_-rev-_-spy081221 (HERE) Sign up for the best newsletter on the planet http://buildingoptimal.com/email (HERE) (sign-up top of home page) BTW, refer our newsletter to 3 other builders and get a copy of my client pre-construction guide. Refer 10 and get a 20-minute Q&A with me. Details of how in the newsletters, my friends.
The success of every project is built upon meeting, or better, exceeding expectations. So it stands to reason that one of your many jobs as a builder is to proactively address with clients topics that could later become issues. In this episode I share 12 topics I always cover with new clients as soon as we enter into our pre-construction agreement. Have any topics you want me to discuss, guests to interview, or feedback about the show? DM me on Instagram https://www.instagram.com/buildingoptimal/ (@buildingoptimal) or send me an email at jared@gossettco.com. Thank you to our brand partner, Lowe's! Learn more about Lowe's for Pros https://www.lowes.com/l/Pro/pro-benefits.html?cm_mmc=inf-_-b-_-prd-_-tol-_-gpr-_-jgos-_-wb-_-smp-_-rev-_-spy081221 (HERE). Sign up for the best newsletter on the planet https://my.captivate.fm/www.buildingoptimal.com (HERE) (sign-up top of home page) BTW, refer our newsletter to 3 other builders and get a copy of my client pre-construction guide.
Most builders I know are overworked and underpaid. Today's short episode covers a framework I like to use called The Eisenhower Matrix. It is a simple tool that can help you prioritize the things that will really propel you forward and leave behind the things that are sucking your time. Have any topics you want me to discuss, guests to interview, or feedback about the show? DM me on Instagram https://www.instagram.com/buildingoptimal/ (@buildingoptimal) or send me an email at jared@gossettco.com.
Learn more about Lowe's for Pros https://www.lowes.com/l/Pro/pro-benefits.html?cm_mmc=inf-_-b-_-prd-_-tol-_-gpr-_-jgos-_-wb-_-smp-_-rev-_-spy081221 (HERE) Check out Spyder Blades https://www.lowes.com/pl/Spyder--Tools/4294936478?refinement=4294775783 (HERE) Sign up for the best newsletter on the planet https://my.captivate.fm/www.buildingoptimal.com (HERE) (sign-up top of home page) BTW, refer our newsletter to 3 other builders and get a copy of my client pre-construction guide. Refer 10 and get a 20-minute Q&A with me. Details of how in the newsletters, my friends.
Working with a difficult or exhausting client can make life miserable and put your company in danger. After working with hundreds of clients I've identified four red flags. If I start working with a client who demonstrates any of these behaviors in our early interactions, I will graciously walk away before signing a construction contract. Just as important (if not more) than securing good clients who can help elevate your business is steering clear of those who will damage it. Have any red flags you've learned along the way? DM me on Instagram https://www.instagram.com/buildingoptimal/ (@buildingoptimal) or send me an email at jared@gossettco.com. Learn more about Lowe's for Pros https://www.lowes.com/l/Pro/pro-benefits.html?cm_mmc=inf-_-b-_-prd-_-tol-_-gpr-_-jgos-_-wb-_-smp-_-rev-_-spy081221 (HERE) Check out Spyder Blades https://www.lowes.com/pl/Spyder--Tools/4294936478?refinement=4294775783 (HERE) Sign up for our YUGE newsletter https://buildingoptimal.com/ (HERE) (sign-up top of home page) BTW, refer our newsletter to 3 other builders and get a copy of my client pre-construction guide. Refer 10 and get a 20-minute Q&A with me. Details of how in the newsletters, my friends. Have any builders who are making waves in the industry and would be good guests? Email me at jared@gossettco.com.
Kyle Diamond is partner of https://www.ndccontracting.com/ (New Dimension Construction), in Millbrook, New York. The family-owned business has operated for more than 30 years with a stellar reputation. Check out some of the tips that Kyle graciously shares with us. Y'all enjoy the episode.
Treacy, of https://nwcalliance.com/ (NWC Alliance), returns to answer some FAQ from our community about insurance and third party warranties. Sit back, enjoy a nice cocktail, and sharpen up your insurance skills my friends.
You've probably seen Jason Pietruszka on https://www.instagram.com/jjpconstruction/ (Instagram) or https://www.youtube.com/jasonpie (YouTube). He shares some great content on social media, but his day job is owner of https://www.jjpconstructioninc.com/ (JJP Construction), a luxury builder in L.A. Jason has had a rocket ship growth trajectory from an unlikely background, and now he's not only building but sharing his lessons with others. Y'all enjoy the episode!
If you're getting hammered on lumber prices, well so is the rest of America. What's happening and when will it get better? Lumber economist, Dustin Jalbert, has a few answers. Dustin leads the lumber analysis on Fastmarkets RISI's Wood Products team. He is responsible for the monthly Lumber Commentary, the North American Lumber 5- and 15-Year Forecasts, and both consulting engagements related to the North American lumber markets. Find Dustin on Twitter (@2x4caster) and on LinkedIn. Build on, and enjoy the episode!
This is a reading of an article we just published on the Building Optimal blog. If you prefer the written word, check it out here: https://buildingoptimal.com/8-tips-to-combat-soaring-costs/ (https://buildingoptimal.com/8-tips-to-combat-soaring-costs/) By the way, if you aren't already signed up for our Building Optimal newsletter, head over to buildingoptimal.com and sign up for free right now. Should take about 15 seconds and the extra value we will be delivering in that newsletter won't be found anywhere. So, check it out.
Michael Anschel is owner of https://otogawa-anschel.com/ (Otogawa-Anschel), a design-build firm out of Minnesota. Michael frequently lectures on topics in the industry and also writes for several well-known publications. He has built a company that allowed him to actually take three years off! If that isn't enough incentive to listen to this episode, we also discuss ideas to implement from culture to transparency. Enjoy the episode!
This is one of my favorite episodes to date. https://wjsbuilders.com/ (Wally Staples), a builder from Maine, has always made a profit over his 28 years in business. He has never had to lay anyone off. And, he has a financial freedom plan for himself and his entire team. Tune in for the secrets and wisdom of Wally. As I say in the episode, it's an avalanche of good ideas. Enjoy, and happy building out there. Edit: In the episode we incorrectly stated the number of Wally's employees, Wally has 18 employees (whom by the way have been with him for an average of 9 1/2 years). Amazing retention rate!
Dan Edelman with Rockwool joins us to share his perfect wall assembly and discuss a few new innovations and changes in the building science space. Enjoy the episode!
If employee benefits make your head spin, you aren't alone. Luckily, we have Lauren Allen and Elisa Thornton on today's episode to help you out. They are with Brookstone Insurance, my own company's health and commercial liability provider. Enjoy the episode!
https://buildingoptimal.com/episodes/06-ed-earl-secrets-happy-clients/ (Ed Earl) and https://buildingoptimal.com/episodes/11-paul-sanneman-getting-business-architects/ (Paul Sanneman), both previous guests, share the reasons why they like cost-plus contracts. As a fixed-price builder myself, I wanted to get the perspective from the other side of the aisle. If you want to learn more about Paul and Ed's work, visit https://residentialcontractorservicesgroup.com/ (https://residentialcontractorservicesgroup.com). Enjoy the episode! “The wise man knows exactly what value should be put upon everything.” — Seneca Over my 15 years to date of structuring real estate development deals, I’ve screwed up many a deal. I’ve left money on the table. I’ve shouldered too much risk. But luckily, on close to 100 projects I’ve sponsored, I’ve only ever lost money one one. The rest have performed well, and a good many surprisingly well (listen to my story in https://buildingoptimal.com/captivate-podcast/57-interviewing-show-host-jared-gossett/ (Episode 57)). What has been the single biggest improvement I’ve made in how I structure my deals? I’ve started thinking of the deal components as separate “Value Buckets.” As a result, I have a much easier job identifying an equitable deal for everyone and easily selling it to my investors. Value Buckets in a Nutshell To use value buckets, think of deal structuring as an accountant would. Each deal is a new company in a sense, and that company will have assets, liabilities, and equity that each of the parties to the deal should value at some notion of fair market value. This sounds basic, like a foregone conclusion, but many people miss this point. And when they start thinking of projects through Value Buckets, what seemed like a reasonable deal may no longer be. Most Common Value Buckets Developer
The developer finds, organizes, and sponsors the deal. He arranges all capital and oversees professionals such as accountants, lawyers, etc. The time, effort, and expertise in this role needs to be considered and compensated, usually as a percentage of back-end profits in the home building business. My company receives 50% of the back-end profits in exchange for this role. General Contractor
Home builders often plays the role of developer and general contractor in a speculative deal, which is why it’s important to distinguish these. A home builder needs to understand what his profit would be on this project if, hypothetically, it was a simple fee-based project for a client. Why? Because the additional roles the builder is playing in a speculative project, plus the risk, should result in a higher projected income to the builder versus a project for a client. I establish up front a fee between 7-8% of a deal’s projected sale price, depending on the size and complexity of the project. This fee is paid out to my company with the construction draws from the bank. This fee covers my company’s overhead in the deal but not my general contractor profit, which I defer to the end so that my investors and I are better aligned. The back-end profits I’m expecting to receive should be enough to account for both my role as general contractor and separately as developer. If the projected profits aren’t sufficient in that sense, I either restructure the deal or pass on it. Investor
The investor may be putting up all the cost of a deal, or if financing is involved, the portion of equity that sits behind the debt in the capital stack. The investor obviously needs to get compensated for the risk they are taking with their investment. Our development projects are far less liquid and less diversified than one can achieve in the stock market, which means we should be paying a premium to investors over typical stock market returns for the added risk profile of our projects. Beyond...
Most builders would get an F on our digital marketing, but it's an area that can exponentially grow your business if you develop the right strategy. I'm visiting with Spencer Powell, a digital marketing expert who specializes in builders and contractors, to share a few ideas of how to get started or get better. Spencer is the Inbound Marketing Director at https://www.builderfunnel.com/ (Builder Funnel). Since 2010, he’s been building out a proven model and system that has helped generate thousands of leads for his clients. He specializes in helping home builders and remodelers bring their websites up to speed – not only building traffic but focusing on lead conversion and ROI. Enjoy the episode!
What are some of the top systems you can install in your project to move it closer to a passive house? Trey Farmer has a few answers for us. In this episode we are exploring Trey’s personal home he just built as a case study of what worked great and what he would do differently next time. Trey is a licensed architect with the well-reputed firm, http://forgecraftarchitecture.com/ (Forge Craft Architecture). He is also a partner in https://www.studioferme.com/ (Studio Ferme), an interior design firm out of Austin. He sits on the board of the Austin Passive House Alliance and is an expert on sustainable design and construction. Enjoy the episode, and happy building!
I've been using a framework I call "Value Buckets" to structure my deals. It's nothing more than a mental system I created to help me optimize my returns and also create alignment and trust with my investors. It's a short episode - 12ish minutes. If you prefer to read, https://buildingoptimal.com/value-buckets-better-deal-structuring/ (here is the link to the blog article). Enjoy the episode!
Matt Risinger is, in many circles, now a household name. His https://www.youtube.com/user/MattRisinger (YouTube channel) has 700,000 at the time of publication. While many people know him for his social media presence, I wanted to go behind the scenes to learn more about Matt Risinger, the business owner. His company, https://risingerbuild.com/ (Risinger Build), is one of the top luxury home builders in Austin, a market with a tremendous crop of talent at the top. In this interview we cover everything from an inside look at his business to his social media tips and business advice to all builders. Thanks to Lowes for bringing us together for this special episode. Be sure to check out their https://www.lowesforpros.com/l/pro-loyalty-learn-more.html (Lowes for Pros) to learn how Lowe’s can help your company. Be well, be safe, and happy building my friends.
Jared walks you through the apps and other virtual tools he uses to build and manage his business. Enjoy!
http://www.constructionconsulting.co/ (Bryan Kaplan) is an international consultant for builders and the construction industry. Over his 21-year career in the industry, he has been an owner, general manager, and home inspector. With his breadth of experience, Bryan brings a systems-oriented approach to his clients. In this interview, we visit with Bryan on punch list systems that help you end projects on great terms with your clients.
Connect with Bryan and learn more about his company http://www.constructionconsulting.co/ (here).
And last but not least, a special thanks to Treacy Duerfeldt of https://nwcalliance.com/ (NWC Alliance) and https://douglaslynch.com/ (Doug Lynch), my insurance pros and today’s sponsors!
David Gerstel returns to share his ideas on how builders can achieve financial freedom. David is a best-selling author of several construction books, including his most recent, https://amzn.to/2yELQg5 (Nail Your Numbers: A Path to Skilled Construction Estimating and Bidding). He is also a well-known speaker. In addition to being an expert on many things “home building,” David is also a model of success, having achieved financial freedom with his own construction business by the age of 34. And last but not least, a special thanks to Treacy Duerfeldt of https://nwcalliance.com/ (NWC Alliance) and https://douglaslynch.com/ (Doug Lynch), my insurance pros and today’s sponsors! Enjoy the episode! And be sure to sign up for email updates and new information at http://www.buildingoptimal.com/ (www.buildingoptimal.com)!
Building Optimal Director of Marketing, José Luis Guerra, puts me in the hot seat to talk about my company and my experience in the industry. I need to start doing more builder profiles other than me! If you have any recs, send me an email!
If you are hearing a lot of conflicting and confusing info about how the stimulus package affects builders, well, I am too. That’s why I called Sheri Allshouse, our go-to expert on all home building finance matters. In this brief episode, Sheri covers the two primary loans that are available as well as the new tax credits. Please note the information surrounding these loans is very dynamic and changing frequently. Please consult your accountant for the latest information.
I also highly recommend you navigate our to Sheri’s website, https://www.allshousegrp.com/contact/ (The Allshouse Group), to request from them their white paper on the topic. It’s filled with a lot of good, actionable info.
Be well, amigos.
Tracy Duerfeldt is back for a second episode with us to talk Coronavirus and a few strategies to cope with it not just from a business and risk management standpoint, but from a mental health standpoint. Treacy is an insurance expert who runs The https://nwcalliance.com/ (NationWide Contractors’ Alliance) and also WISE Insure. He and https://douglaslynch.com/ (Doug Lynch) also happen to be my company’s insurance providers and recurring sponsors for our show. So a special thank you to them for their support! And finally, if you aren’t following us yet on Instagram, check us out for some good tips and updates (@buildingoptimal). And be sure you are signed up for our emails on the home page of our website, http://www.buildingoptimal.com/ (www.buildingoptimal.com).
If you aren’t separating your wages from your profits, you’re losing money and fooling yourself along the way. This was a conversation I began with Bryan Uhler, second generation builder at http://www.pioneerbuildersonline.com/ (Pioneer Builders, Inc), a company his father started 42 years ago. We decided to record the conversation and share it as an episode. Many of you already know this, but it never hurts as a refresher. And for some of you it will be a much-needed splash of cold water.
We are in these building trenches together, so listen, learn, and implement. Enjoy the episode!
And last but not least, a special thanks to Treacy Duerfeldt of https://nwcalliance.com/ (NWC Alliance) and https://douglaslynch.com/ (Doug Lynch), my insurance pros and today’s sponsors!
Show Notes: Nah, this is a short episode. Next time!
We are talking with fellow custom home builder, Byron Brooks, of http://brookwright.ca/ (Brookwright Developments) on today’s episode. Byron does an excellent job creating a unique brand for his company, and he graciously shares that with us, along with his strategy for developing architect relationships. Byron and his company operate in Calgary, Canada where they build beautiful custom homes. In their own words:
We are design conscious carpenters who are energized by the idea of helping homeowners and architects realize their vision. We’re individuals who have been drawn together by a quest to fashion tangible things with our hands and the desire to create quality results every day.
This is one of those episodes where we get to learn from a fellow builder who is in the trenches, and who has invested heavily in developing his business.
And last but not least, a special thanks to Treacy Duerfeldt of https://nwcalliance.com/ (NWC Alliance) and https://douglaslynch.com/ (Doug Lynch), my insurance pros and today’s sponsors!
Enjoy the episode!
https://www.buildersandbrews.ca/ (Byron’s Builders and Brews Group)
https://www.instagram.com/brookwright_construction/ (Brookwright on Instagram)
Show Notes:
2:39 - An overview of Brookwright. 5:37 - What is Brookwright’s “why?” 9:21 - Brookwright’s unique branding and value proposition. 14:06 - Brookwright’s strategy of working through architects as the client. 20:16 - Taking care of the architect relationship. 21:42 - What is going on up in Canada?! Dedication to the building craft seems exceptionally high. 24:33 - How to connect with Byron. 25:14 - Byron’s Builder’s and Brews group.
While we love this business, it has its ugly sides. There’s no “disputing" the legal dangers of home building (dad joke). Large sums of money are in play, the largest investments of people’s lives are unfolding, you get the idea… So, if this were school, this subject would be pretty damned important to ace. That’s why today we are talking to Don Shelton about the major risks he regularly sees and how to improve the grades on your legal report card. Don, in addition to being one of the top home building attorneys in Texas, is a partner at one of the top home building firms in the state…https://brstexas.com/ (Bush Rudnicki Shelton). They have multiple offices across the state. Don is out of Dallas-Fort Worth. We interviewed James Rudnicki, one of his partners, https://buildingoptimal.com/episodes/12-james-rudnicki-attorney-builders-contracts-warranties-lien-waivers/ (a while back here). Their firm consults for industry giants you all know. They literally wrote the contract the Texas Association of Builders uses as its standard form. So, Don’s the professor for the day, and on a subject you don’t want to sleep through. And last but not least, a special thanks to Treacy Duerfeldt of https://nwcalliance.com/ (NWC Alliance) and https://douglaslynch.com/ (Doug Lynch), my insurance pros and today’s sponsors! Show Notes: 3:06 - What is the biggest source of lawsuits for builders? 15:47 - What can builders do to protect themselves? 18:30 - The best strategies to deal with contentious situations. 28:56 - Is it common for plaintiffs to pierce the corporate veil? 35:25- What are the best legal strategies should a builder employee?
We are covering our listener accounting and tax questions in today’s AMA (Ask Me Anything) episode with Sheri Allshouse. Sheri, a repeat guest, is a CPA with an expertise in home building and construction. Her firm is https://www.allshousegrp.com/ (The Allshouse Group) in Houston, Texas. In this discussion, we cover a wide variety of accounting and tax topics, from accounting software and tracking change orders to new tax updates. To stay up to date on our latest interviews, be sure to sign up for our emails at http://www.buildingoptimal.com/ (www.buildingoptimal.com). You can also follow us on https://www.facebook.com/buildingoptimal/ (Facebook) and https://www.instagram.com/buildingoptimal/ (Instagram). Enjoy the interview! Show Notes: 03:15 - What software do you recommend? 12:50 - What’s the best way to process changes orders through your accounting system? 16:30 - What is the best way to track expenses that don’t have PO’s like runs to Home Depot? 21:40 - Tax updates affecting us for 2019 filings. 25:50 - What are the energy tax credits available to builders? 30:20 - Any last advice Sheri has for us.
Is it better to work with Realtors or internal sales staff? How much should you pay? How can you build a high performing sales team? We have your answer. Today’s guest is https://www.linkedin.com/in/retech/ (Sean McDonald), a seasoned building executive with more than 30 years experience. He has built countless sales teams and most recently ran the San Antonio division of Gehan Homes. Sean is currently working on several startup ventures in the home building space, including http://landonearth.com (Land on Earth). Enjoy the episode! Show Notes: [2:43] - The pros and cons of Realtors vs. internal sales team. [9:25] - Sean’s preferred comp structures. [15:02] - The specific role of the sales person in the life cycle of the customer. [18:15] - Comp differences between a spec home vs true custom. [22:30] - The biggest traps to fall into when building a sales team. [25:20] - The common qualities of high-performing sales teams.
Ever wonder what you can do to build your brand and better stand out as a builder? Our guest, https://www.linkedin.com/in/carollynnemorgan/ (Carol Morgan), has the answer. Or to be precise, five answers. We interview Carol, President of https://denimmarketing.com/ (Denim Marketing), on her top five ways to stand out in this competitive market! Carol runs her own successful marketing firm, has an https://www.atlantarealestateforum.com/ (award-winning radio show), has written four books, and if that’s not enough, she’s served as chair of the National Home Builders Association’s Professional Women in Building Council. Ways to stay in touch with us, by the way! Sign up for our newsletter https://buildingoptimal.com/ (here) or on Instagram http://instagram.com/buildingoptimal (here). Show Notes 3:50 - Carol’s #1 piece of advice: Be fun. Be creative. 9:35 - #2: Use social media and use it well. 15:30 - #3: Promotions. 19:10 - #4: Geofencing. 26:35 - #5: Simply be responsive!
ROCKWOOL insulation is picking up steam as a go-to insulation in many parts of the country. With it’s thermal performance, durability, and effect on indoor air quality, it’s easy to see why. Dan Edelman, Head of Business Development for http://rockwool.com/ (ROCKWOOL), joins us on the show for an overview of their product. Show Notes: [4:04] - The history and growth of ROCKWOOL. [5:18] - What makes ROCKWOOL different. [8:10] - ROCKWOOL indoor air quality relative to other options. [12:08] - How does ROCKWOOL stack up with price. [14:22] - How to get a crew trained on ROCKWOOL insulation. [16:30] - The thermal performance of ROCKWOOL. [18:10] - ROCKWOOL’s exterior insulation product. [19:44] - Dan’s preferred wall assembly. [22:45] - Where to find Dan and ROCKWOOL’s Elite Builder Program.
David Lupberger of https://www.davidlupberger.com/ (remodelforce.com) is back ONE MORE TIME to show us how to win more clients and build a remarkable brand by selling our “why.” In a commodity-like business such as building, finding your metaphorical moat to differentiate you from your competitors is a must. David is a speaker, author, and consultant on the national stage. He has some wonderful programs, so be sure to check him out online. This episode is brought to you by our own personal insurance agent and broker, Treacy Duerfeldt of http://nwcalliance.com/ (NWC Alliance) and http://douglaslynch.com/ (Doug Lynch) of Brookstone Insurance. Liability insurance is a dangerous place where you can easily fall victim to bad coverage or bad agents. That’s why we switched to Doug and Treacy. Check them out and make an informed decision on your liability coverage. Enjoy the episode! Show Notes: [4:00] - An intro to the concept of selling your why. [7:50] - What is the process to determine your “why?" [16:50] - How can a builder use this to truly stand out? [24:28] - The need for giving clients a “leave-behind.” [27:30] - The best place to go to learn more about David’s programs.
David Lupberger of https://www.davidlupberger.com/ (remodelforce.com) returns for an eye-opening episode on how to grow your business, diversify your income, AND create clients for life at the same time! David is a speaker, author, and consultant on the national stage. He’s also a brilliant mind for developing this deceptively simple strategy. Enjoy the episode!
Show Notes: [1:55] - The overview of David’s Clients for Life program. [9:50] - Some mechanics of how it works.
Speaker, author, and owner of https://www.davidlupberger.com (remodelforce.com), David Lupberger, joins us to discuss the different margins in new homes vs remodels as well as the benefits of developing architects as a primary referral source. This is the first of a three part series with David. We will also be featuring interviews with him over creating clients for life and selling your why. Be sure to check out David’s site, remodelforce.com to learn more about his suite of products to help you in your business.
And if you aren’t tired of me saying it by now, make sure you’ve signed up for our free newsletter on the home page of our website, buildingoptimal.com.
Enjoy the episode!
Show Notes:
[1:50] What are the differences in skill sets needed between a new home builder and a remodeler. [5:10] The difference in profit margins between the two. [8:45] Dis-economies of scale on small jobs. [12:15] Growing your business with architects.
Curious what's new in the smart home space? Dave LaMere indulges us. Dave is the owner of https://smarthomz.com/ (Smart Homz), with locations in both Ramsey and Beach Haven, New Jersey. Dave's company offers the whole suite of home automation and technology services, so he's just the guy for today's episode. Show notes: [1:45] - What's new in the smart home space.
[5:55] - What can you accomplish without a huge budget.
[8:30] - The most popular things Dave is asked to install.
[17:06] - David's recommendation to builders.
[21:41] - Where to find Dave online.
Kirsten Danielle is the owner of award-winning Alma Homes in Minnesota. In addition to being a talented builder, Kirsten has a strong brand in the industry for her designs. We talk to her about her selections program, working better with designers, and the design trends she is seeing in the market. This is the third and final episode featuring women leaders in the industry. However, I want to have a better balance of guests in the future between men and women, so if you have anyone you think would be a good guest for the show, holler!
Show Notes:
[1:50] – Kirsten’s story that led her to found Alma Homes.
[4:40] – How can builders and designers work better together?
[9:50] – What’s the best way to handle selections?
[12:45] – What Kirsten keeps in her showroom.
[14:50] – What are those small design things that add big value?
[24:20] – Kirsten’s take on the latest design trends.
Christine Williamson is one of the top minds in the field of building science. She travels the continent consulting for architects and developers and also forensically investigating building failures.
A few of her projects include the restoration of Belvedere Castle in New York City’s Central Park, forensic investigations of building failures at the air traffic control tower of LAX and the Wheeler Opera House in Aspen, Colorado. Not a bad place to get called out to.
And of course, her other project you may know her for is her Instagram account, https://www.instagram.com/buildingsciencefightclub/ (@buildingsciencefightclub), where she takes her wealth of knowledge and distills it into actionable, insightful lessons that just about anyone can understand.
This is also the second part of our series featuring women leaders in the industry. I’m excited to have Christine on the show. I’ve wanted to visit with her for a while. I hope you all enjoy the episode.
By the way, let us know by the way what you’re enjoying, what you want to hear more of. Drop us a line at hello@buildingoptimal.com, or send us a message on Instagram.
Show Notes
[2:20] – Christine’s story and rise in the business of building science.
[8:40] – Story behind @buildingsciencefightclub
[9:50] – Is the building industry broken? What’s the fix?
[18:30] – Have we outpaced ourselves with some of our new building innovations?
[22:25] – How does a builder up their building science game?
[27:30] – The nuances of following manufacturer instructions.
[30:30] – Christine’s advice on low hanging fruit to improve the performance of your builds.
[34:00] – Where to find Christine online.
Ultra-luxury home developer, Joanna Lily Wong, discusses her journey, her $15 million spec home, and her ideas for better design and marketing. Joanna brings a deep insight of home buyers into all elements of her projects, and she shares some of these with our listeners on this special episode, the first in a series of women in the industry.
Joanna is a rising star. This was a lot of fun to record, and I hope you all enjoy it as much as I did! You can find Joanna on http://www.instagram.com/joannalilywong (Instagram) or at http://www.ennate.com/ (Ennate), her design and development company based in San Francisco.
P.S. Follow us on Instagram (http://instagram.com/buildingoptimal (@buildingoptimal)), and also sign up for our newsletter on our http://buildingoptimal.com/ (home page) to get continuously new tips that will help you in your business!
Show Notes:
[1:15] – Joanna shares her background.
[5:10] – Joanna’s perspective on being a female in a traditionally male-dominated industry.
[7:30] – How buyers identify the fine touches.
[9:28] – The story of the $15 million Jones St. project.
[12:26] – Assessing the risk when building an ultra luxury home.
[13:15] – Features people want in a luxury home.
[18:05] Tricks to better market your properties.
[25:20] – How feng shui can help in building design even if you don’t practice it.
[28:40] – Where to find Joanna online.
Here’s a short, nine-minute episode on how to manage your project pipeline to keep cash coming in faster than it’s going out. Cash is the source of many stresses for builders, so fix this and life gets a little easier! Enjoy, and more importantly, be sure to implement!
Liability insurance is one of the most complicated aspects of your business. Unfortunately, poor or deficient coverage is much more common than we know, and the consequences for your business can be severe.
https://buildingoptimal.com/wp-content/uploads/2019/09/Treacy-pro-pic--e1568893162871.jpg ()Treacy Duerfeldt, an insurance expert who runs The https://nwcalliance.com/ (NationWide Contractors’ Alliance) and also WISE Insure, covers some of the top issues in today’s interview. Learn what can go wrong and how to protect against these things, so you can focus on building your business with confidence.
If you aren’t following us yet on Instagram, check us out for some good tips and updates (@buildingoptimal). And be sure you are signed up for our emails on the home page of our website, http://www.buildingoptimal.com/ (www.buildingoptimal.com).
Show Notes
[2:55] – Where do you find a good insurance agent and how do you know when you’ve found one?
[6:20] – The insurance carrier you choose matters. There are huge differences. How can you compare the good vs. bad insurance carriers?
[10:20] – What is the difference between non-admitted carriers and admitted-preferred carriers? And why does it matter?
[17:00] – What is the difference between “audit ready” and “claims ready?”
[23:55] – How do you get a copy of the policy from all your trade partners?
[26:55] – How does it work with your architect agreements?
[28:30] – The difference between claims-made and occurrence policies.
[30:40] – On prior work exclusions.
[35:20] – Other typical exclusions to know.
[43:30] – The need for builders to understand these issues themselves.
[48:05] – What is the biggest mistake Treacy sees builders make?
[50:30] – Where to find Treacy online.
Who hasn’t had a client try to negotiate their fee down? Spend a short amount of time in this business, and it’s going to happen. Here’s what I’ve found as the best approach to avoid those discussions altogether.
Adam Conley understands the dynamic between builders and contractors in a hot market. He wrote a post on social media that originally caught my attention and spurred our conversation. We talk about his views on building stronger builder/trade partner relationships, even covering a few specific recommendations.
Adam is the President of https://www.glassexpanse.com/ (Glass Expanse), a company that manufactures and sells directly to builders innovative, architectural glass door systems for luxury homes. You can also follow them on Instagram at https://www.instagram.com/glassexpanse/ (@glassexpanse).
Show Notes
[1:50] – Adam’s quote on the relationship dynamics between builders and contractors that are unfolding in this market.
[6:10] – Adam’s advice on building better relationships with their contractors.
[15:30] – Any mistakes builders make that poison the unknowingly poison the relationship?
[22:55] – Adam’s take on the industry.
[27:50] – Adam’s story and business at Glass Expanse.
https://buildingoptimal.com/wp-content/uploads/2019/07/ShawnVanDyke_121118_FINCH_BW-96-e1563897807313.jpg ()
Welcome to a mini-episode, the final of three with business coach and construction consultant, Shawn Van Dyke. Shawn is a national speaker and author of https://www.amazon.com/Profit-First-Contractors-Construction-Money-Making/dp/1790264502/ref=sr_1_1?keywords=profit+first+for+contractors&qid=1563896765&s=gateway&sr=8-1 (Profit First for Contractors), available on Amazon.
We covered ‘Attracting Talent’ and ‘Getting Paid for Pre-Con’ in our first two episodes. This time, we cover a few random topics from common bad advice he hears to preparing for the next recession.
You can find Shawn and his menu of offerings at http://shawnvandyke.com/ (shawnvandyke.com), and also on social media, @shawnvandyke.
Show Notes:
[1:00] – The worst advice Shawn hears.
[3:25] – What Shawn preaches that he doesn’t hear anyone else preaching.
[6:40] – Shawn’s advice for weathering a downturn.
https://buildingoptimal.com/wp-content/uploads/2019/07/ShawnVanDyke_121118_FINCH_BW-96-e1563897807313.jpg ()Welcome to the second of three episodes with business coach and construction consultant, Shawn Van Dyke. Shawn is a national speaker and author of https://www.amazon.com/Profit-First-Contractors-Construction-Money-Making/dp/1790264502/ref=sr_1_1?keywords=profit+first+for+contractors&qid=1563896765&s=gateway&sr=8-1 (Profit First for Contractors), available on Amazon.
In this episode Shawn outlines plan to help you get paid for your pre-con work. If you’re not doing it already, this is worth a listen! And if you are, well Shawn may have a few ways to enhance your program. Stay tuned for our third installment with Shawn coming next. It’s a good one.
You can find Shawn and his menu of offerings at http://shawnvandyke.com/ (shawnvandyke.com), and also on social media, @shawnvandyke.
Show Notes:
[1:20] – Why do we need to get paid for pre-construction work?
[4:30] – The difference between an up-front estimate and professional services.
[7:40] – How do you sell the client on paying you to perform the pre-con work?
[14:45] – What are the specifics that should be included or excluded in a pre-con
phase?
[20:40] – The trap of offering ballpark pricing.
[29:10] – A major cause of litigation.
[30:00] – A few more specifics to include in your pre-con agreement.
https://buildingoptimal.com/wp-content/uploads/2019/07/ShawnVanDyke_121118_FINCH_BW-96.jpg ()Shawn Van Dyke is a business coach and consultant to the construction industry. He travels the county speaking, and he even has authored a book, https://www.amazon.com/Profit-First-Contractors-Construction-Money-Making/dp/1790264502/ref=sr_1_1?keywords=profit+first+for+contractors&qid=1563896765&s=gateway&sr=8-1 (Profit First for Contractors), available on Amazon.
This episode covers attracting talent. We’re doing two more episodes with Shawn, one on getting paid for your pre-construction work, and the other, an episode on bad advice and other timely musings such as thoughts about the economy.
You can find Shawn and his menu of offerings at http://shawnvandyke.com/ (shawnvandyke.com), and also on social media, @shawnvandyke.
Show Notes:
[1:25] – Where should we be looking to find our next hire? [2:50] – The cost of a bad hire. [6:20] – The percentage of people who actually hate their jobs and what to do about it. [7:00] – Why you need to always be cultivating a pool of hire candidates. [9:40] – Why ‘we’re hiring’ isn’t the right message. [12:10] – What terms are builders having to offer to attract the right people? [15:30] – What are the best systems to retain employees? [20:30] – Why are employees typically disengaged? [23:40] – Where to find more of Shawn.
It’s an admittedly idiotic name for the episode that we couldn’t resist, in honor of the Seinfeld Soup Nazi, an appropriate flag bearer for this final episode on happy client hacks. This is a reading of our recent article published in our Building Optimal Journal. You can read it https://buildingoptimal.com/blog/happy-client-hack-no-soup/ (HERE).
This is a reading of our recent article published in our Building Optimal Journal. You can read it https://buildingoptimal.com/blog/happy-client-hack-zero-cost-change-orders/ (HERE).
This is a reading of our recent article published in our Building Optimal Journal. You can read it https://buildingoptimal.com/blog/happy-client-hack-client-contingency/ (HERE).
https://buildingoptimal.com/wp-content/uploads/2019/06/RESS-19-October-22-25-2017-in-Las-Vegas-Nevada-Day-2-12a.jpg ()Joel Block is a long-time venture capitalist and hedge fund manager who is one of the foremost authorities on creating real estate funds and syndications. Joel joins us to talk about creating syndications and funds for home builders.
Be sure to check out Joel’s website, http://syndicatefast.com/ (syndicatefast.com). He’s got some great videos on there as well as other helpful services. Also, be sure to check out Joel’s podcast, http://bit.ly/Joels-Podcast (Profit from the Inside), where he discusses strategies to give your business the inside track. And as always, enjoy the episode.
Show Notes
[1:20] – How can we determine the capital available to us at any given time to know which projects to pursue?
[4:10] – Are a lot of builders going the fund route?
[6:20] – Where do we find new investors leads?
[9:45] – What exactly are investors buying when they buy shares in a fund?
[11:40] – What are the pieces of the puzzle needed if you go the fund route?
[14:00] – What’s needed for creating a syndication?
[19:20] – What’s the ideal structure for a home building deal?
[23:40] – Finding co-guarantors for your deals.
[26:00] – A conceptual way to create fair fee structures.
[29:25] – Joel’s advice on keeping in touch with current investors.
[31:00] – What Joel sees go wrong the most…
[34:30] – Where to find Joel online.
This conversation with tiny home builder, Bob Clarizio, ranges from hilarious to enlightening. Bob, of https://bantambuilthomes.com/ (Bantam Built Homes), takes us on his journey into the tiny home business and shares some of his hardest lessons and greatest achievements. If you missed Bob’s first interview with us, check it out:
https://buildingoptimal.com/25 (https://buildingoptimal.com/25)
Show Notes:
[1:40] – Bob’s journey into tiny homes.
[7:40] – Bob’s early struggles in his transition.
[13:30] – The seasonality of tiny homes.
[15:45] – The making his three business-saving sales.
[26:00] – Bob’s wild trip out east.
[29:00] – Shipping tiny homes to Switzerland off YouTube.
[32:50] – Bob’s current business focus.
[34:30] – The constraints facing the tiny home industry.
https://buildingoptimal.com/wp-content/uploads/2019/05/Captura-de-pantalla-2019-05-13-a-las-11.41.25-a.-m..png ()We’re talking to Vicki Suiter, President and CEO of https://suiterbusinessbuilders.com/ (Suiter Business Builders) about everything from interviewing and hiring best practices to managing margins in a difficult industry. Vicki is a speaker, consultant, and coach with more than 28 years helping contractors succeed in their businesses. She’s also an author. Her most recent book is https://www.theprofitbleed.com/get (The Profit Bleed: How Managing Margin Can Save Your Contracting Business.)
https://www.theprofitbleed.com/free (Vicki’s special offer )https://www.theprofitbleed.com/free (here.)
Show Notes:
[1:25] – The biggest mistakes in hiring.
[5:35] – Red flags in an interview.
[7:15] – Position agreements vs job descriptions.
[8:35] – Better bonus structures.
[10:45] – The importance of finding people with passion.
[13:55] – How to create meaning for everyone in the company.
[17:05] – Autonomy vs abdication.
[18:35] – Vicki’s master class: How to Get Your Team to Take More Ownership.
[19:55] – A conversation on protecting margins.
[25:15] – The most important variable in protecting margins.
[27:55] – Where do builders miss the mark.
[30:05] – Construction accounting software preferences.
[31:50] – Setting up systems for for feedback and consistency.
[35:15] – Vicki’s offer to all our listeners!
https://buildingoptimal.com/wp-content/uploads/2019/05/unnamed.jpg ()Healthy homes are by no means a new concept, but as of recent they have entered more of the mainstream conversation as the “green” movement has evolved. In this episode, we are visiting with Caroline Blazovsky, a national expert on healthy homes, to learn more about what’s going on and the market opportunities for builders who want to capitalize on the trend.
Caroline is the President and Founder of http://healthyhomeexpert.com (My Healthy Home). She has over 17 years in the space as a public educator, media personality, and consultant. Her clients span both the U.S. and internationally.
Enjoy the episode!
Show Notes:
[3:07] – What’s missing in new home construction?
[5:42] – Where to start educating yourself on solutions.
[7:55] – Easy solutions you can implement right now.
[15:35] – The drivers behind the healthy home movement.
[22:00] – How marketable are healthy homes, really?
[31:43] – The inflection point.
Sheri Allshouse is back to share a few commonly overlooked financial accounts that could be costing you money. Sheri is a CPA with an expertise in home building and construction. Her firm is https://www.allshousegrp.com/ (The Allshouse Group) in Houston, Texas.
If you missed https://buildingoptimal.com/08-sheri-allshouse-common-tax-questions/ (Episode 8: Common Tax Questons) with Sheri, be sure to check it out!
If you’re interested in the financial book Sheri recommends, visit: https://amzn.to/2ZkRGPq (https://amzn.to/2ZkRGPq)
And finally, if you want The Allshouse Group’s financial checklist, they have generously offered it to our listeners for free. Please email Avi at AvirieF@AllshouseGRP.com. In the subject line, please write “Building Optimal – QB Check List.”
Show Notes:
[3:30] – Reconciling bank statements.
[10:05] – Reconciling credit cards.
[15:00] – Considerations for accounts payable and receivable.
[23:40] – Considerations with the inventory account.
[24:50] – Customer deposits.
[31:06] – Classifying contracts.
Bob Clarizio, founder of https://bantambuilthomes.com/ (Bantam Built Tiny Homes), has built a substantial audience across https://www.youtube.com/channel/UCgyjabpFCAeU36s-HhNZriQ (YouTube), https://www.facebook.com/bantambuilt/ (Facebook), and https://www.instagram.com/bantambuilt/ (Instagram). Bob has eight steps to going viral and making it big on social media. He shares these tips with us in this latest episode. Check it out!
Show Notes:
[2:00] – Bob’s history with social media. [6:58] – Eight things to make a post go viral. [37:20] – Should your social media be in your name or in your company’s? [47:40] – Hacks to get better photos and videos
https://buildingoptimal.com/wp-content/uploads/2019/02/FernandoTight.jpg ()
Fernando Pagés Ruiz is a builder, developer, and author of the popular book, https://amzn.to/2D9prIV (Building an Affordable House). He has a deep knowledge of how to save money on your homes, including how to mine the code for savings and how to go beyond the plans to cut costs. Fernando has operations in Colorado, Nebraska, and internationally in Ecuador. You can see his work at http://hamptonlands.com (hamptonlands.com) and read more about his expertise with affordable homes at http://buildingaffordable.com (buildingaffordable.com)
Show Notes:
[2:00] – Fernando’s background and evolution in his career. [12:35] – The roots of Fernando’s affordable building model. [18:45] – How Fernando took the savings beyond the blueprints. [32:45] – The little-known savings Fernando found in his building code studies. [40:30] – More savings beyond the blueprints. [48:40] – New innovations Fernando is excited about. [54:50] – Fernando’s building projects on the coast of Ecuador.
You can read several of Fernando’s articles:
https://www.protradecraft.com/photos/tropical-timbers-forest-framing (Tro)https://www.protradecraft.com/photos/tropical-timbers-forest-framing (p)https://www.protradecraft.com/photos/tropical-timbers-forest-framing (ical Tim)https://www.protradecraft.com/photos/tropical-timbers-forest-framing (bers: From Forest To F)https://www.protradecraft.com/photos/tropical-timbers-forest-framing (raming)
https://www.protradecraft.com/cottage-made-completely-native-materials-and-local-labor (A Cottage Made Compl)https://www.protradecraft.com/cottage-made-completely-native-materials-and-local-labor (etely With Native Materials and Local Labor)
https://www.protradecraft.com/crown-molding-special-effects (Crown Molding Special Effects)
Many people get this deceptively simple practice wrong, but it’s an easy fix. In this episode, Jared reads a recent article he wrote for our newly launched, Building Optimal Journal.
If you haven’t yet, be sure to check out our new articles, such as https://buildingoptimal.com/blog/bulletproofing-against-downturns/ (Bulletproofing Against Downturns).
Show Notes:
[0:30] – The two most important reasons for customer deposits. [4:55] – The best way to do a customer deposit and the typical complicating factor. [11:12] – Less-than-ideal alternatives that the bank may accept.
They say you never get a second chance to make a first impression. Kyle Hunt shares a few pointers on how to make the “best” first impression we possibly can during that initial call with a potential client.
Kyle is the owner of http://www.remodelyourmarketing.com (Remodel Your Marketing), a business coach focused on remodelers. For 10 years he’s helped his clients improve their sales process, implement proven marketing strategies, and take control of their operations. Kyle has spoken at the International Builders Show, and also has a podcast for remodelers called https://remodelersontherise.libsyn.com/ (Remodelers on the Rise).
Do you have particular topics you want to hear in 2019? Email us at hello@buildingoptimal.com or direct message us on Facebook or Instagram at @buildingoptimal.
Happy 2019 to all. Thank you for your support. May everyone have a prosperous, fun, and PROFITABLE year!
Show Notes:
[1:30] – The importance of the initial call.
[3:50] – Aim for this outcome from the call. [6:25] – The best way to prep for the call. [13:15] – The 5 P’s. [13:50] – Most important questions to ask. [20:40] – The steps you should be taking AFTER the call. [23:00] – The best lead sources. [27:40] – Where to find more of Kyle.
If you thought we were going to let David Gerstel off the hook with a paltry two-episode series, well think again. He’s back with some tips to improve our relationships with our subcontractors (affectionately called trade partners). These are tips he’s developed over his decades of experience in the construction business. For those of you ne’er-do-wells who haven’t listened to Episode 19 or 20 with David, he is a best-selling author of several construction books, including his most recent, https://amzn.to/2S8wl7B (Nail Your Numbers: A Path to Skilled Construction Estimating and Bidding.) In addition to being an expert on many things “home building,” David is also a model of success, having achieved financial freedom with his own construction business by the age of 34.
Enjoy the episode! And be sure to sign up for email updates and new information at http://www.buildingoptimal.com (www.buildingoptimal.com)!
Show Notes
[1:10] – Why you need “Included/Not Included” form to save you miscommunications with subcontractors. [6:30] – Is there a magic bullet to ensure quality control with subcontractors? [11:10] – Why you should approach competitive bidding differently from jobs with pre-construction agreements. [16:20] – The optimal pay cycle and the importance of a strong capital reserve. [20:30] – David on competitive bidding and another strategy he’s seen that works.
David Gerstel is back to talk about the decision between hiring in-house crews or subcontractors. We also discuss the advantages of employee-centered companies. For those of you who haven’t listened to Episode 19 with David, he is a best-selling author of several construction books, including his most recent, https://www.amazon.com/gp/product/0982670907/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0982670907&linkCode=as2&tag=buildingopt03-20&linkId=d625b6d99b11c2f2c02a3946396978fc (Nail Your Numbers: A Path to Skilled Construction Estimating and Bidding). He is also a well-known speaker, and will be featured at the https://nw.jlclive.com/en/home.html (JLC Live Show) November 28-30 in Portland. In addition to being an expert on many things “home building,” David is also a model of success, having achieved financial freedom with his own construction business by the age of 34.
Enjoy the episode! And be sure to sign up for email updates and new information at http://www.buildingoptimal.com (www.buildingoptimal.com)!
Show Notes [1:15] – The pros and cons of in-house crews vs. subcontractors. [4:00] – The best part of having an in-house crew. [7:32] – What questions should you be asking before making the decision. [9:18] – David’s business setup. [13:00] – How to find and hire your crew. [17:03] – The benefits of giving your employees a 4-10 workweek. [18:10] – David’s staffing/employee structure in his company. [20:55] – David’s prescription for stronger subcontractor relationships.
David Gerstel joins us to talking bidding, estimating, and achieving financial freedom as a builder. David is a best-selling author of several construction books, including his most recent, https://amzn.to/2yELQg5 (Nail Your Numbers: A Path to Skilled Construction Estimating and Bidding). He is also a well-known speaker, and will be featured at the https://nw.jlclive.com/en/home.html (JLC Live Show) November 28-30 in Portland. In addition to being an expert on many things “home building,” David is also a model of success, having achieved financial independence in his mid-thirties (less than 10 years after starting his business), much of which he attributes to his passion for the craft. Enjoy the episode! And be sure to sign up for email updates and new information at http://www.buildingoptimal.com (www.buildingoptimal.com)!
Show Notes [1:50] – Why we shouldn’t confuse bidding and estimating. [9:20] – David’s 5 construction cost categories. [15:45] – The three overhead allocation methods and David’s recommendation. [22:25] – Allocating overhead when you aren’t operating at capacity. [25:30] – Using Labor Productivity Records for estimating direct labor on projects. [31:30] – What David sees as the standard profit margins. [34:30] – David’s opinion on the best business models. [41:30] – David’s strategy to financial freedom as a builder. [44:50] – Ensuring you know where your pricing stands compared to your competition. [52:40] – Ed Earl’s collaborative construction approach.
This is the third episode in a mini-series exploring how to raise money for your projects. In this episode, we explore the logistics and other considerations of how to raise the money and structure your deals. Enjoy the episode! And one more thing…follow us on https://www.instagram.com/buildingoptimal/ (Instagram) and https://www.facebook.com/buildingoptimal (Facebook) for more tips and ideas to take your construction business to the next level!
Show Notes: [1:48] – The number one priority: Talk to a securities attorney! [3:20] – Talking to accredited investors and building an investment platform. [4:40] – Types of entities in which to raise money. [5:40] – The pros and cons of single-asset entities. [8:55] – Raising money at the operational level. [10:40] – Raising money with promissory notes. [13:50] – Considerations if you are raising equity-only for your project.
It’s time to enter the wonderful, magical world of…security cameras. Our guest, Nate Carty, explains a simple, affordable system to help with theft deterrence, subcontractor management, client communication, and more.
Nate and his brother Chris are the founders of Carty Custom Builders, an Austin-based residential home home builder. Nate is a CFA Charterholder and a graduate of the University of Texas. He’s also a smart dude and a tech whiz, as you will see in the interview.
Show Notes: [2:32] – Deterring theft with security cameras. [3:34] – Visibility and signage with the cameras. [4:00] – The unforeseen benefits of using security cameras (hint: more than just theft deterrence). [6:01] – The nuances of allowing clients access to security cameras. [8:32] – How many cameras should you use and where do you place them? [9:21] – Specifics of the cameras. [10:21] – Nate’s setup for his security camera system. [16:15] – The all-in cost for Nate’s system. [17:52] – A few things to consider before getting started. [20:21] – Getting in touch with Nate.
Selected Links: https://www.amazon.com/dp/B077G4Y89Y/?coliid=IPR2BEDOUIDLP&colid=2I4EU86R1441F&psc=0&ref_=lv_ov_lig_dp_it (Vimtag Security Cameras) https://www.amazon.com/Kingston-Canvas-Select-32GB-SDS/dp/B079GTYCW4/ref=sr_1_1_sspa?s=pc&ie=UTF8&qid=1534610469&sr=1-1-spons&keywords=sd%2Bcard&refinements=p_n_feature_two_browse-bin%3A6518304011&th=1 (Kingston 32GB SD Cards) https://www.homedepot.com/p/1-Gang-Weather-Box-While-In-Use-Cover-WIU-1/206469236 (1-Gang Weather Box) https://www.t-mobile.com/internet-device/alcatel-linkzone-4g-lte-mobile-hotspot (T-Mobile Hotspots) http://www.cartycustombuilders.com (www.cartycustombuilders.com )
This is the second episode in a mini-series exploring how to raise money for your projects. In this episode, Jared offers tips on how to raise money and structure your deals.
To get for free Jared’s deal pro forma template that he mentions at the beginning of the episode, write us a review on iTunes (https://discussions.apple.com/thread/8093987 (Here’s How)) and send us a message letting us know.
Enjoy the episode! And one more thing…follow us on https://www.instagram.com/buildingoptimal/ (Instagram) and https://www.facebook.com/buildingoptimal/ (Facebook) for more tips and ideas to improve your business!
Show Notes:
1:00 – Our pro-forma template giveaway (https://discussions.apple.com/thread/8093987 (How to leave an iTunes review)). [2:00] – The two ways to finance a project. [5:33] – A common debt/equity split. [7:40] – The need to budget all project expenses into the project capitalization. [8:30] – Sources for raising equity. [12:20] – A simple way to raise money from your personal network. [16:10] – Working with a single investor vs multiple. [16:55] – The different ways to structure your deals with your equity partners. [24:30] – Basing your deal terms off your investor’s required rate of return. [27:10] – Strategies if you are struggling to raise loans/debt. [30:45] – Strategies if you are struggling to raise equity.
Peter Yost, one of our most popular interviews to date, returns for a short episode on more great high performance construction tips! Peter is a building science expert and VP of Technical Services with http://buildinggreen.com (buildinggreen.com)
To check out Peter’s popular first interview with us, visit https://buildingoptimal.com/05-peter-yost-tips-high-performance-builds/ (here).
Peter will be hosting a live webinar on 7/31 over high performance building assemblies. To learn more, visit their https://www.buildinggreen.com/continuing-education/live-webinar-high-performance-building-assemblies-introduction-and-approach?utm_source=BuildingGreen.com+Mailing+List&utm_campaign=fb9dc39a00-PeterWebinarPromo_18-07-19_COPY_01&utm_medium=email&utm_term=0_d558b0594a-fb9dc39a00-157568913&mc_cid=fb9dc39a00&mc_eid=2596afe538 (webinar registration) page.
Enjoy the interview!
Show Notes:
[1:40] – The best way to upgrade your building assemblies. [6:30] – Importance of installing back dams. [8:00] – Peter’s take on 2×6 on 24 framing. [11:00] – Peter’s preferred weather resistive barriers. 14:30 – Upcoming http://buildinggreen.com (buildinggreen.com) webinar on high performance assemblies.
This is the first episode (19 minutes) in a mini-series exploring how to raise money for your projects. In this heavily opinionated, rant-laden (yet valuable) episode, Jared explores a few dangers, dead-ends, and pitfalls to avoid when raising money. Enjoy the episode! And one more thing…follow us on https://www.instagram.com/buildingoptimal/ (Instagram) and https://www.facebook.com/buildingoptimal/ (Facebook) for more tips and ideas to improve your business!
Show Notes:
[3:00] – The need to have your policies and procedures written down. [4:30] – Protecting yourself by getting info from customers for invoicing, checking credit and references. [8:50] – Incorporating Accounts Receivable reports are circulated during staff meetings. [11:20] – Fraud risk is highest in the area of accepting payments. [12:30] – Fraud is often driven as much or more by opportunity than motive. [13:10] – The need to monitor bank reconciliations.
Nathan Owen, CPA, is an expert is accounting for contractors. In this episode he discusses best practices for subcontractors’ back offices as well as preventing fraud amongst your employees. Nathan’s company, https://www.vinefinancialpartners.com (Vine Financial Partners), provides full scope accounting solutions. Enjoy the episode! And one more thing…follow us on https://www.instagram.com/buildingoptimal/ (Instagram) and https://www.facebook.com/buildingoptimal/ (Facebook) for more tips and ideas to improve your business!
Show Notes:
[3:00] – The need to have your policies and procedures written down. [4:30] – Protecting yourself by getting info from customers for invoicing, checking credit and references. [8:50] – Incorporating Accounts Receivable reports are circulated during staff meetings. [11:20] – Fraud risk is highest in the area of accepting payments. [12:30] – Fraud is often driven as much or more by opportunity than motive. [13:10] – The need to monitor bank reconciliations.
Selected Links:
https://www.vinefinancialpartners.com (Vine Financial Partners)
James Rudnicki is a Texas attorney specializing in home building. He actually wrote the contracts for the Texas Association of Builders. Bottom line…he knows his stuff, probably as well as anyone. And when it comes to risk management, we can always learn a little more. Enjoy this conversation as we explore contracts, warranty liability, and lien waivers. You will learn a lot, but please don’t do anything without consulting your own attorney.
Show Notes:
[2:10] – Cost Plus vs. Fixed Price contracts…What James prefers. [5:50] – The importance of a Builder’s Services Agreement. [6:50] – Protecting yourself against price increases in Fixed Price contracts. [11:45] – Protecting against client onset delays. [15:45] – Pricing change orders. [16:10] – On the necessity of signing change orders up front. [19:50] – Fixed schedule milestone draws vs. periodic progress draws. [21:10] – The ins and outs of retainage and why you should avoid it. [27:00] – On managing warranty liability. [28:15] – On third party warranties. [30:40] – The warranty standards you need to follow. [34:25] – The low-down on lien waivers.
Selected Links:
http://www.brstexas.com/ (Bush Rudnicki Shelton)
Paul Sanneman is a consultant to builders and remodelers through his firm, http://dreambusinesscoaching.com (Dream Business Coaching). He has coached hundreds of businesses over his more than 30 years of experience in the industry. Along the way, he has developed has some strong, and undoubtedly well-earned, opinions as to how you should be marketing. And it centers around the relationships you build with architects. You may not agree with everything Paul says in the interview, but his viewpoints are definitely worth your attention, as they just may change your strategy. I shifted my perspective on a few topics after our discussion, and I guarantee you will learn some valuable information. Enjoy.
And by the way, be sure to follow us on https://www.instagram.com/buildingoptimal/ (Instagram) and https://www.facebook.com/buildingoptimal/ (Facebook), as we post new tips and content on there weekly.
Show Notes:
[1:50] – The benefits of focusing on architect referrals as your primary marketing strategy. [5:00] – How to get Houzz testimonials and why you shouldn’t email prospectives. [6:35] – Houw to use Houzz to build your database of architects. [17:00] – “Buying” your first job. [20:55] – Managing the inherent potential for conflict in the builder/architect relationship. [23:05] – How design/build firms can work with outside architects. [24:30] – Incorporating an architects/designers section on your website.
Selected Links:
http://dreambusinesscoaching.com (Dream Business Coaching)
https://www.houzz.com (Houzz)
David Wright is an expert in conflict resolution, salesmanship, and building influence. He is the CEO of https://www.dalecarnegie.com/locations/austin/en/ (Dale Carnegie of Austin) and https://www.dalecarnegie.com/locations/houston/en/ (Houston). Dale Carnegie one of the world’s preeminent sales and relationship building programs with offices in more than 93 countries. David has more than 30 years experience in the business. He was the youngest-ever certified trainer in the organization and he has racked up an impressive clientele list, including Dell among many others. We hit on three primary topics during the conversation with David: (1) how to resolve conflict more effectively, (2) how to improve your sales, and (3) building influence to win others over to your ideas.
Show Notes:
[3:00] – What is the Dale Carnegie method all about and Jared’s story with Dale Carnegie. [6:20] – David’s story into Dale Carnegie. [9:38] – Carnegie’s approach to conflict resolution. [12:00] – Diffusing conflict by taking ownership of mistakes. [15:20] – Biggest mistakes people make in trying to resolve conflict. [16:50] – Biggest sales mistakes. [21:30] – Selling in the unique dynamic of the construction industry. [24:00] – Principles behind building influence. [28:50] – How to master these skills.
Selected Links:
https://www.amazon.com/gp/product/0606030085/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0606030085&linkCode=as2&tag=buildingoptim-20&linkId=40b4f5ddc20e57a6941b2cf8c2a207e9 (How to Win Friends and Influence People)
https://www.dalecarnegie.com/locations/austin/en/ (Dale Carnegie of Austin)
https://www.dalecarnegie.com/locations/houston/en/ (Dale Carnegie of Houston)
Karine Woodman is the Founder of http://www.24hrbookkeeper.com/ (24 Hour Bookkeeper), a company with expertise in construction accounting and systems integration. Karine has spoken extensively on construction bookkeeping topics, and is one of the best minds in the industry. She has built an award-winning team that strives to help businesses create efficient systems and simplified workflows using QuickBooks Online and 3rd party applications. She’s passionate about entrepreneurship, loves the world of business, and is on a mission to guide businesses to financial clarity.
Show Notes:
[2:30] – The systems you need to create a best practice accounting system. [4:35] – The benefits of Quickbooks Online over Desktop. [5:50] – Using 3rd party construction software for job costing. [8:35] – The benefits of purchase orders in project management. [11:50] – Why you should be reconciling monthly. [14:20] – Karine’s take on construction draws. [17:30] – Ensuring your draws and expenses are properly matched and the job remains well funded. [18:40] – Integrating Co-Construct and Builder Trend into Quickbooks. [20:30] – Properly managing clients’ funds during a construction project. [24:30] – Karine’s journey building and scaling her own business. [31:30] – Karine’s advice on automating and scaling.
Selected Links:
https://quickbooks.intuit.com/ (Quickbooks Online) https://global.co-construct.com/ (Co-Construct) http://buildertrend.com/ (Builder Trend) http://apps.com (apps.com) http://knowify.com (knowify.com) https://www.amazon.com/gp/product/0986019526/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0986019526&linkCode=as2&tag=buildingoptim-20&linkId=f2237a01d0007532e0ddaf8ffd3eec4c (Scaling Up: How a Few Companies Make It…and Why the Rest Don’t (Rockefeller Habits 2.0))
Sheri Allshouse is a CPA with an expertise in home building and construction. Her firm is https://www.allshousegrp.com/ (The Allshouse Group) in Houston, Texas. In this discussion, we cover a wide variety of tax topics, including the most commonly asked questions from her builders to new tax strategies that have emerged from the recent legislative changes. Sheri lays out some valuable information, but as always, consult your own CPA before implementing anything you hear.
To stay up to date on our latest interviews, be sure to sign up for our emails at http://www.buildingoptimal.com/ (www.buildingoptimal.com). You can also follow us on https://www.facebook.com/buildingoptimal/ (Facebook) and https://www.instagram.com/buildingoptimal/ (Instagram). Enjoy the interview!
Show Notes:
[3:30] – The best entity for your situation. [8:15] – Automobiles…should they be a company purchase or personal? [9:00] – Considering commercial Automobile Insurance. [9:40] – Tracking your business mileage. [10:55] – IRS classification of vehicle types. [13:30] – Employee Truck Allowance. [14:05] – How 2018 tax law changes affect vehicles. [15:00] – Sheri’s recommendation about business mileage. [15:30] – Who should receive a 1099? [18:35] – The various ways the Tax Cuts & Jobs Act affects home builders. [31:50] – Common misunderstandings cleared up and suggested areas of improvement. [32:20] – Accounting choices for cost plus vs fixed price. [39:15] – Fixed asset write-offs. [41:25] – Domestic production deduction explained. [43:20] – Energy credit explained. [47:15] – Value of paying for an expert CPA. [48:24] – Criteria builders should be utilizing to select a tax accountant.
Scott Stroud is a founding partner of http://www.cashflowengineering.com (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 https://www.amazon.com/gp/product/0867187352/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0867187352&linkCode=as2&tag=buildingoptim-20&linkId=3ba57e70b60dd22d79053b92a36c37a9 (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: http://www.cashflowengineering.com (www.cashflowengineering.com) http://www.storybrand.com (www.storybrand.com)
Meet Ed Earl, http://www.thezenbuilder.com/ (the Zen Builder). Ed is consistently one of the top presenters at the International Builders Show, where he typically discusses his methods for building happy clients and making the construction process go much smoother for everyone. He’s developed a term called “collaborative construction,” which is based on open communication, trust and shared objectives with all parties.
Ed is the principal of http://www.priorityoneproperties-sd.com/ (Priority 1 Projects), a construction project management firm based in San Diego. He has 28 years of construction experience and an MBA from Stanford University. Ed is also a business coach working exclusively with contractors to help increase both profitability and enjoyment in their construction companies.
To stay up to date on our latest interviews, be sure to sign up for our emails at http://www.buildingoptimal.com/ (www.buildingoptimal.com). You can also follow us on https://www.facebook.com/buildingoptimal/ (Facebook) and https://www.instagram.com/buildingoptimal/ (Instagram). Enjoy the interview!
Show Notes:
[1:50] – How Ed became to be known as “The Zen Builder.” [4:00] – The reason why so many issues arise between clients and their builders. [6:45] – The four types of most difficult clients and the strategies for successful relationships with them. [16:10] – When and why you should turn down a potential client. [19:20] – Tricks to managing client expectations (the prototype explanation, the emotional home owner). [26:20] – The importance of weekly meetings with clients. [27:50] – The construction kickoff meeting and what is discussed. [29:43] – Setting expectations for text and email responses. [33:10] – Creating your homeowner’s manual. [34:35] – Using an up front questionnaire. [37:10] – The benefits of cloud-based project management software. [44:20] – The features of three different programs: Co-Construct, Builder Trend, and UDA. [46:22] – The biggest pitfall with the cloud-based systems and the best way to roll one out. [48:50] – Setting client expectations regarding the construction schedule. [51:22] – Why Ed favors cost-plus over fixed price contracts. [55:00] – Finding Ed online.
Selected Links:
https://www.amazon.com/Managing-Emotional-Homeowner-Remodelers-Customers/dp/0867185198 (Managing the Emotional Homeowner) https://www.boomeranggmail.com/ (Boomerang for Gmail) https://global.co-construct.com/ (Co-Construct) https://buildertrend.com/ (Builder Trend) http://www.constructiononline.com/co_plans_pricing-cm.html (UDA Construction Online)
Ed Earl Online:
http://www.thezenbuilder.com (www.thezenbuilder.com) http://www.priorityoneproperties-sd.com/ (http://www.priorityoneproperties-sd.com/)
Peter Yost is the Vice President of Technical Services with Building Green, Inc., one of the preeminent voices and thought leaders in the high performance home space. Amongst his lengthy resume, Peter is also a lecturer at Yale University and was recently awarded NAHB’s Green Educator of the Year.
As you will see from the interview, he knows a thing or two about energy efficiency, sustainability, and high performance homes. We hit on some of the biggest myths that still pervade the industry, some of Peter’s top recommendations for builders and remodelers, and much more.
To stay up to date on our latest interviews, be sure to sign up for our emails at http://www.buildingoptimal.com/ (www.buildingoptimal.com). You can also follow us on https://www.facebook.com/buildingoptimal/ (Facebook) and https://www.instagram.com/buildingoptimal/ (Instagram).
Show Notes: [3:05] – About Building Green and Peter’s role. [3:40] – Peter’s top three innovative building products from the buildinggreen.com 2017 Top 10 Products [10:10] – Peter’s top three biggest myths that builders still believe. [15:00] – Top three value propositions that builders can implement. [22:10] – What’s in store in the future for building performance.
Selected Links: https://www.buildinggreen.com/product-review/buildinggreen-announces-top-10-products-2018 (Buildinggreen.com Top 10 Products for 2018) https://www.kingspan.com/us/en-us/product-groups/insulation/insulation-boards/kooltherm (Kingspan Kooltherm) http://www.versadryllc.com/our-product/ (VersaDry Track System) https://us.sunpower.com/commercial-solar/ (Sunpower Carport Solutions PV Panels) https://buildingscience.com/documents/insights/bsi-030-advanced-framing (Advanced Framing Technique) http://bondedbuilders.com/builders/products/residential-energy-guarantee/ (Bonded Builders Residential Energy Guarantee)
Peter Yost and Building Green Online: https://www.buildinggreen.com/ (buildinggreen.com) http://www.greenbuildingadvisor.com/ (greenbuildingadvisor.com)
Twitter: @bglive Facebook: @bgsocial / BuildingGreen, Inc. LinkedIn: @BuildingGreen, Inc. and @Peter Yost
Tom Woodcock is the Founder and President of http://www.tomwoodcocksealthedeal.com (Seal the Deal). Tom is an author and nationally known branding, marketing, and selling expert. He is one of the most dynamic sales trainers and consultants in the country. He routinely speaks to thousands of contractors and suppliers concerning the sales skills necessary to compete in this intensely challenging construction industry. His latest book, “http://www.tomwoodcocksealthedeal.com/?page_id=14 (You’re Not Sellin, They’re Buyin)‘” is comprehensive in developing the proper sales skills, persona, and methodology to rise above the competition.
In this interview we dive into some of Tom’s top advice for builders to win more contracts, differentiate yourself, and much more. Enjoy!
To stay up to date on our latest interviews, be sure to sign up for our emails at http://www.buildingoptimal.com (www.buildingoptimal.com). You can also follow us on https://www.facebook.com/buildingoptimal/ (Facebook) and https://www.instagram.com/buildingoptimal/ (Instagram).
Show Notes:
[1:30] – Avoiding the low bid game. “You’re not buying a price. You’re buying the service, the workmanship, craftsmanship, experience.” [2:30] – Differentiating yourself so that a customer will actually pay more to use you. “If we had an anniversary dinner with our significant other and we were buying by price, we’d always take them to McDonald’s for their anniversary.” [3:20] – Taking inventory of what you bring to the table and determining how to sell it up front. [4:40] – Tom’s client test questions. [7:46] – “What does it say about the value you feel you or your company brings to the table when you’re ready to discount fairly quickly into the process? If you’re not believing your own value, well you can’t expect the customer to believe that value.” [8:30] – Selling your value rather than discounting. [10:50] – Your points of separation..finding 2-3 points that TRULY make you different, that truly get you separation. [13:10] – “Price is not enough. There’s room for ONE low cost provider in every market.” [15:38] – Being better vs different and the need for perceived value. [17:30] – The importance of truly identifying WHO is your customer. [19:40] – “If you don’t sell, you don’t get projects. None of the other stuff matters.” [20:30] – “[The best marketing strategy] is the one you will actually do.” The role of consistency in marketing. [21:30] – The benefit of a monthly newsletter for your customer base. [22:20] – Networking is replacing cold-calling. [23:10] – “Spending, spending, spending without a purpose is the wrong thing to do.” [24:10] – How networking differentiates you. “You don’t have to be a Type A person with tremendous people skills to be successful in selling. But you have to have an approach and be consistent in that approach.” [28:00] – Raising your close rate 10% to 15% immediately…the face-to-face approach. [29:40] – “Engage with the customer on the delivery of your pricing. It’s much harder to tell you to your face that I’m not going to use you.”
Show Links:
http://www.tomwoodcocksealthedeal.com (www.tomwoodcocksealthedeal.com)
John Leggett is the Founder and CEO of http://onpointcustomhomes.com/ (On Point Custom Homes) in Houston, Texas. On Point won 2017 Texas Custom Builder of the Year and Houston Builder of the Year. John is regarded as a thought leader in the industry and was a panelist at the 2018 International Builders Show.
They are doing something right over there at On Point, so we decided to dig in and hear a little more. As you will see, John and his team have an innovative approach to running their business. We touch on everything from client relations to construction software to hiring and much more.
You can find On Point Custom Homes at http://www.onpointcustomhomes.com (www.onpointcustomhomes.com) and also on https://www.facebook.com/OnPointCustomHomes (Facebook), https://www.instagram.com/onpointcustomhomes/ (Instagram), and https://www.houzz.com/pro/onpointcustomhomes-/on-point-custom-homes (Houzz). Show Notes:
[1:45] - John’s foray into home building. [3:51] - Best business advice John has received: “You gotta be easy to work with.” [5:10] - John’s advice on builder software systems. [6:10] - Cloud-based resources...Docusign/Dropbox. [6:52] - Google Drive vs Dropbox. [7:25] - Field equipment for superintendents. [7:35] - “Where we loose on customs is on selections.” [8:38] - “How do we differentiate ourselves? Our ideas with process and speed.” [9:35] - Differentiators = team, process, and innovative design and trends. 11:03 - Today's world = shorter lifecycle of design trends. [11:30] - Why you should be texting your clients. [12:08] - Importance of culture in hiring. [13:10] - Pre-hire dinner with the spouse. [14:10] - The benefits of utilizing Revit for 3D. “If you’re not making the move to 3D now, you’re gonna be behind.” [16:75] - Benefit of Revit for budgeting. [18:23] - Biggest areas were builders are screwing up. [19:31] - “You have to constantly look to innovate in this business.” [20:32] - Understanding the financial side of the business. [21:57] - Spending time on your specifications. [22:40] - John’s top 3 recommendations for builder to see payoffs: (1) social media reviews anduser generated content...why more good reviews are better than fewer stellar reviews. (2) Embrace technology, don’t fight it. (3) Work on corporate culture from the get go. “Pay less for land and more for people.” 25:50 - John's preferred review platforms. [26:50] - John’s construction horror stories. [32:15] - On Point’s plans for 2018. Show Links:
http://www.onpointcustomhomes.com (www.onpointcustomhomes.com) (On Point website) https://www.facebook.com/OnPointCustomHomes (Facebook), https://www.instagram.com/onpointcustomhomes/ (Instagram), https://www.houzz.com/pro/onpointcustomhomes-/on-point-custom-homes (Houzz) (On Point social media) http://www.docusign.com (Docusign) http://www.dropbox.com (Dropbox) https://en.wikipedia.org/wiki/Autodesk_Revit (Revit)
Dennis Dixon is the author of https://www.amazon.com/gp/product/0867187549/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0867187549&linkCode=as2&tag=buildingoptim-20&linkId=931528ca09494096c282277e3137dd1a (Finding Hidden Profits: A Guide for Custom Builders, Remodelers, and Architects). The book is a comprehensive guide that offers a multitude of best practices and ideas to improve every aspect of your business. It’s a must-read for all construction professionals. Everyone WILL learn something valuable.
Dennis been building both commercial and residential projects since 1984. He’s built over 300 custom homes and remodels. Dennis is one of the more prominent leaders in the industry, a consultant, author, and speaker on the national level. His website is http://www.dadthebuilder.com (www.dadthebuilder.com).
To stay up to date on our latest interviews, be sure to sign up for our emails at http://www.buildingoptimal.com (www.buildingoptimal.com). You can also follow us on https://www.facebook.com/buildingoptimal/ (Facebook) and https://www.instagram.com/buildingoptimal/ (Instagram).
Show Notes: [1:50] – Overview of Finding Hidden Profits. [2:40] – Importance of A-grade plans, specifications, and contract with owner. The more you can get on paper, the better off you will be. [5:15] – “When you go to court, the one with the most paperwork wins.” [5:38] – “If you’re running the company, hire someone to do the paperwork.” [7:05] – The Grandma Rule. [7:40] – Write up your own specs that are alphabetical and put bullet point nuances in each category (model numbers, finishes, etc). Most of it will stay the same between projects. [9:05] – Noting exclusions in specs. [10:20] – Separating yourself from the competition…having a contract and specs that outshines the rest. [11:35] – “If the project priority is money, then I probably don’t want to take on the project.” [11:55] – “People that are worried about the money, they’re gonna worry about whether you are using 200 nails or 192 nails and did they get a credit on the 8 nails you didn’t use.” [12:35] – Dennis’ client test questions. [14:10] – Addressing budget issues with clients whose priority is money. [14:40] – The cost per square foot conundrum and the garage footage paradox. [16:55] – Try to get a deposit for preparing estimates, which will be credited on the contract. [18:00] – Take your time and do a great job with the estimate. Don’t give a ballpark estimate on unfinished plans. [19:05] – The importance of supervision. [19:25] – Setting expectations with clients up front. [19:55] – Dennis’ construction horror story. The lesson: People hire us for our managerial skills. You have to double check everything. [24:40] – Dennis’ 2018 projects.
Show Links: http://www.jlconline.com/ (Journal of Light Construction) (Dennis’ recommended construction publication) http://www.dadthebuilder.com (www.dadthebuilder.com) (Dennis’ website) http://www.builderbooks.com (www.builderbooks.com) (Finding Hidden Profits, Dennis Dixon) http://www.dadthebuilder.com/store/ (http://www.dadthebuilder.com/store/) (Dennis’ construction contract)
Building Optimal Radio is a podcast for custom builders and remodelers. The lessons and strategies you will learn from our interviews with leading industry experts and top performers will give you all the tools you need to grow your revenue, improve your bottom line, and build your brand.
The show is hosted by Jared Gossett. Jared is founder and co-owner of Gossett and Company, an innovative, employee-owned custom home building company in Austin, Texas. The company builds high quality custom homes that center on three tenants: craftsmanship, design, and performance. They believe in combining innovation with time-tested principles, and are working to advance the industry in several key areas, especially with health and wellness in the homes they build.
Jared started building and remodeling homes on his own in 2009, and later formed a partnership to start Gossett Jones Homes, a company that focused primarily on building ‘spec’ homes and small multi-unit communities in urban Austin. They achieved early success, earning a spot on the Inc 500 Fastest Growing Companies list in 2014 and winning Austin Business Journal’s Builder of the Year in 2012. Prior to that, Jared worked in investment banking and real estate private equity, developing a strong base of knowledge around structuring deals and investments and raising capital for projects.
The team at Gossett and Company, including Lindsay Davis, Dave Kerns, and Brian Winburne, will join the show from time to time to offer their wisdom. Combined, the team brings more than 75 years of construction and building experience and themselves have won personal accolades in the industry, including Brian Winburne’s Construction Manager of the Year Award in 2015.
To stay up to date on our latest interviews, be sure to sign up for our emails at http://www.buildingoptimal.com (www.buildingoptimal.com). You can also follow us on https://www.facebook.com/buildingoptimal/ (Facebook) and https://www.instagram.com/buildingoptimal/ (Instagram).