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E22 - Buying a Family Member Out of Your Contracting Business
Description
In this episode of Beers with Contractors, hosts Will and Drake talk about the most important metric contractors ignore: gross profit margin. They're joined by guest Brandon Powell, the proprietor of Foundation Doctor in Charlotte, North Carolina, who shares his journey from banking to foundation repair, shedding light on transitioning careers, starting a family-run enterprise, and the critical importance of customer service for business growth. The episode also digs into the creation of 'Dirt Dollars', a unique performance pay system designed to enhance employee motivation and productivity.
00:00 Introduction
00:24 Special Co-Host Introduction of Drake Scifers
01:53 Gross Profit Margins Explained for Construction Success
11:44 Brandon Powell's Journey from Banking to Foundation Repair
17:48 The Pros and Cons of Family-Run Businesses
29:17 Successfully Navigating Family Business Succession
36:08 Unveiling Dirt Dollars as a Game-Changing Performance Pay System
42:23 The Importance of Playing Offense in Customer Service
47:08 Conclusion
Contact Brandon Powell at:
Website: https://www.foundationdoctornc.com
LinkedIn: https://www.linkedin.com/in/brandon-powell-95722312/
Email: brandon@foundationdoctornc.com
The Worker Incentive Program that Contractors Love! - Per4mance Software
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Learn more at https://unisonworx.com/industries/construction