In this thought-provoking episode, Martin and Khalil explore the 10 least asked questions business owners should be asking themselves. These powerful questions challenge contractors to shift from working in their business to working on it, helping you gain clarity, improve profitability, and reduce stress in your operations.

What You’ll Learn

• How to clarify what you actually want your business to do for you
• Which key metrics reveal the health of your business
• How to identify and plug profit leaks throughout your operations
• Where fear might be holding you back from making crucial decisions
• Practical strategies to build cash reserves for stability and opportunity

Time Stamps

• 00:39 - Life Updates
• 03:30 - Episode Intro
• 04:33 - Question 1: Purpose and Focus
• 09:00 - Question 2: Key Metrics
• 14:28 - Question 3: Weak Systems
• 16:11 - Question 4: Managing or Babysitting
• 18:18 - Question 5: Critical Gaps
• 20:59 - Question 6: Decision Avoidance
• 25:27 - Question 7: Bold Actions
• 29:33 - Question 8: Leaking Margins
• 35:14 - Question 9: Cash Reserves
• 40:10 - Question 10: Root Cause of Stress
• 46:02 - Conclusion

Snippets from the Episode

• "Everybody wants to double their sales, and I say, what the hell you wanna do that for? How about you just double your profit? You can double your profit with far less effort and risk than it takes to double your sales."— Martin
• "If customers aren't saying no to you, then you're bidding too low. You should be striving to win 50% of jobs. That means you're getting market value and the better customers who are willing to pay a premium."— Khalil
• "What gets measured gets managed. What gets managed gets better. It just does. If you're paying attention to something, it gets better."— Martin
• "Weariness comes from work not done. That is the source of my stress - all the things that aren't done. It's what causes the worry, it's what keeps my mind thinking at night."— Khalil
• "Worry is a misuse of imagination."— Martin (quoting Mark Twain)

Key Takeaways

1. Clarify Your Business Purpose
2. Identify Your Critical Number
3. Prepare Systems for Growth
4. Develop People Instead of Babysitting
5. Document Your Critical Knowledge
6. Face Avoided Decisions
7. Confront Fear-Based Limitations
8. Plug Profit Leaks Systematically
9. Build Adequate Cash Reserves
10. Address Root Causes of Stress

Resources

• ⁠⁠⁠24 Things⁠⁠⁠⁠⁠⁠⁠⁠⁠ Construction Business Owners Need to Successfully Hire & Train an Executive Assistant
• ⁠⁠⁠⁠⁠⁠⁠⁠⁠Schedule⁠⁠⁠⁠⁠⁠⁠⁠⁠ a 15-Minute Roadblock Call
• Check out ⁠⁠⁠⁠⁠⁠⁠⁠⁠OpenPhone⁠⁠⁠⁠⁠⁠⁠⁠⁠
• Build a Business that Runs without you. Explore our ⁠⁠⁠⁠⁠⁠⁠⁠⁠GrowthKits ⁠⁠⁠⁠⁠⁠⁠⁠⁠
• Need Marketing Help? We Recommend ⁠⁠⁠⁠⁠⁠⁠⁠⁠Benali⁠⁠⁠⁠⁠⁠⁠⁠⁠
• Need Help with podcast production? We recommend ⁠⁠⁠⁠⁠⁠⁠⁠⁠Demandcast⁠⁠⁠⁠⁠⁠⁠⁠⁠

More from Martin Holland

• ⁠⁠⁠⁠⁠⁠⁠⁠⁠theprofitproblem.com⁠⁠⁠⁠⁠⁠⁠⁠⁠
• ⁠⁠⁠⁠⁠⁠⁠⁠⁠annealbc.com ⁠⁠⁠⁠⁠⁠⁠⁠⁠
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More from Khalil

• ⁠⁠⁠⁠⁠⁠⁠⁠⁠benali.com ⁠⁠⁠⁠⁠⁠⁠⁠⁠
• ⁠⁠⁠⁠⁠⁠⁠⁠⁠Email Khalil⁠⁠⁠⁠⁠⁠⁠⁠⁠
• ⁠⁠⁠⁠⁠⁠⁠⁠⁠Meet With Khalil⁠⁠⁠⁠⁠⁠⁠⁠⁠
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• ⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠
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