The Contractor's Profit Hackz

🔗 https://www.foundationacs.com Welcome back, Profit Hackers! Today I’m sharing a story from my childhood — involving a wooden spoon — and how it shaped the way I think about motivation and efficiency in business. We talk about the difference between punishment and positive reinforcement, why your crews perform better when they’re encouraged instead of criticized, and how small incentives can dra...

🔗 https://www.foundationacs.com Hello Profit Hackers! I’m Jeremy Lott with Foundation Accounting and Consulting. Today we’re diving deeper into job costing and understanding why tracking your numbers is the key to building a profitable contracting business. I break down how to record your labor, materials, and subcontractor costs in real time, why percentages matter more than dollar amounts, and...

🔗 https://www.foundationacs.com Hey, Profit Hackers, it’s Jeremy Lott with Foundation Accounting and Consulting. In this episode, we’re talking about something that every contractor needs to master: how to plan for profit, not just hope for it. Jeremy breaks down the process of creating a Profit Plan that pays you what you’re worth while keeping your business strong and stable. He explains how to...

🔗 https://www.foundationacs.com Hey, Profit Hackers, Jeremy Lott here with Foundation Accounting and Consulting. In this episode, we’re breaking down overhead, what it really is, how to calculate it, and why most contractors underestimate it. Overhead isn’t just your rent or insurance. It’s every hidden cost that keeps your business running, and if you don’t track it properly, it can quietly eat...

🔗 https://www.foundationacs.com Hello, Profit Hackers! I’m Jeremy Lott, Chief Visionary at Foundation Accounting and Consulting. In this episode, we’re digging into something that separates the good contractors from the great ones, knowing your numbers . It’s not just about your bank balance. It’s about understanding your true costs, your gross profit margin, and how much you really take home aft...

🔗 https://www.foundationacs.com Welcome back to The Contractors Profit Hack Show! In this episode, Jeremy Lott sits down with Blair from Inventa Wealth Advisors to unpack what real financial growth looks like from building a foundation to scaling into true wealth. Blair shares his journey from banking to financial advising, the lessons he learned along the way, and how intentional effort (even ju...

Website: https://foundationaccounting.comHello, Profit Hackers! I’m Jeremy Lott, Chief Visionary for Foundation Accounting and Consulting. In this episode of the Contractor Profit Hackz Show, we wrap up our four-step budgeting process. We cover the final step: figuring out your selling general and admin expenses, handling recurring vs. non-recurring costs, and tying everything back to your net pro...

https://www.foundationacs.com/Hey Profit Hackers, Jeremy Lott here — Chief Visionary of Foundation Accounting and Consulting. In this episode of *The Contractors Profit Hack Show*, we continue our deep dive into budgeting. I share a story about a family prank war and tie it to Stephen Covey’s lesson about picking up the stick — every action has consequences. From there, I break down **direct vs. i...

https://www.foundationacs.com In this special episode of the Contractor's Profit Hack Show, Jeremy Lott, Chief Visionary for Foundation Accounting and Consulting, interviews Rob Hutton. They discuss strategies for simplifying accounting for construction company owners, enhancing profits, and improving cash flow management. Rob shares his diverse career journey and how his background in diplomacy a...

https://www.foundationacs.com/Hey Profit Hackers, Jeremy Lott here — Chief Visionary of Foundation Accounting and Consulting. In this episode of The Contractors Profit Hack Show, I share a story about coaching my younger brother Eric in wrestling — and how focus (or the lack of it) can change everything. From there, I connect it to your business and budgeting: why revenue isn’t the number to obses...

https://www.foundationacs.com/ https://www.bluecollarconnect.com/ In this episode of the Contractor's Profit Hacks Show, I am thrilled to welcome Joe Mikitish and Mark Hansen from Blue Collar Connect. We dive deep into Joe's entrepreneurial journey and how Blue Collar Connect is pioneering a unique masterminding and networking platform exclusively for blue-collar businesses. Joe shares his...

https://www.foundationacs.com/In this episode of The Contractor Profit Hackz Show, I share a funny story from my eighth grade days with a hypnotist — and how it taught me the power of focus. From there, I connect it to your business: what you choose to focus on (your WHY) is the key to building a budget that actually works. You’ll learn about the “Five Whys” method I use with clients, and how it h...

https://www.foundationacs.com In this episode I discuss effective bill pay strategies specifically designed for construction company owners. Drawing from my own experiences, including a memorable high school wrestling match, I emphasize the importance of changing old habits and adopting a strategy that aligns bill payments with incoming cash flow, prioritizing critical expenses and profit allocati...

https://www.foundationacs.com Jeremy Lott, Chief Visionary of Foundation Accounting and Consulting, shares strategies for improving cash flow and implementing an effective bill pay strategy specifically for construction company owners. Drawing from his personal experience, Jeremy discusses analyzing bills, prioritizing payments, and focusing on cash flow over debt. He explains how using accounts,...

https://www.foundationacs.com In this episode of the Contractor's Profit Hack Show, Jeremy Lott discusses the importance of shifting the mindset surrounding debt, especially for construction company owners. He shares personal stories from his landscaping days, illustrating the crucial lesson of prioritizing customer needs. Jeremy emphasizes the outdated pension mentality on debt and argues for...

https://www.foundationacs.com In this episode of the Contractor's Profit Hack Show, Jeremy Lott shares insights on creating an effective bill pay strategy by emphasizing the importance of prioritizing expenses to ensure business survival. He shares a personal story about his wrestling career and sacrifice for his faith to underscore the importance of prioritizing what truly matters. Jeremy adv...

https://www.foundationacs.com/ In this episode of the Contractor's Profit Hack Show, Jeremy Lott discusses the importance of having a strategic approach to paying bills for construction companies. Drawing from a personal anecdote about a rockhounding expedition that led to a lesson in priorities, Jeremy emphasizes understanding the repercussions of not paying specific bills. He explains how to...

https://www.foundationacs.com Welcome back to the Contractor's Profit Hacks Show with Jeremy Lott. In this episode I share an important personal story about my wrestling journey to highlight the excitement and satisfaction of reaching milestones. I then dive into the final step of the Profit First methodology: celebration. You've adjusted your mindset, set up multiple bank accounts, alloca...

https://www.foundationacs.com Welcome back to the Contractor's Profit Hacks! I'm Jeremy Lott, and today we're diving deeper into the Profit First system. Building on previous discussions about mindset, Parkinson's law, and setting up various bank accounts with designated percentages, today's focus is on the essential discipline required to manage these accounts effectively. Usi...

https://www.foundationacs.com In this episode of the Contractors Profit Hacks Show I discuss actionable techniques to implement the Profit First method. I share a personal story about my childhood that illustrates the importance of fair division of tasks. I outline the first step of implementing Profit First, which involves setting up separate bank accounts for different expenses, such as income,...

https://www.foundationacs.com In this episode of the Contractor's Profit Hacks Show we dive into the Profit First system, developed by Mike Michalowicz, aimed at helping contractors and entrepreneurs pay themselves appropriately by reshaping financial mindsets. We explore Parkinson's Law and how it affects resource allocation, particularly with time and money. By shifting the traditional p...

https://www.foundationacs.com In this episode of the Contractors Profit Hacks Show I dive into the importance of cash flow projections for improving business cash flow. I share a personal story from my soccer coaching days to illustrate the importance of making strategic adjustments. I then provide a step-by-step guide on creating a cash flow projection spreadsheet, detailing how to list direct co...

https://www.foundationacs.com In this episode, Jeremy from Foundation Accounting and Consulting wraps up the series on job bidding and estimating. We've previously covered the bidding process, cost determination, and markup. Today, we discuss the importance of market comparison, emphasizing the need to know how you fit into your industry. Jeremy shares a nostalgic story about childhood antics...

https://www.foundationacs.com In this episode of the Contractor's Profit Hack Show, Jeremy from Foundation Accounting and Consulting delves into the topic of markup. He explains the four steps in the bidding and estimating process: bidding a process, calculating costs, adding markup, and comparing to market. Through simple analogies, Jeremy clarifies the often-confused concepts of markup and m...

https://www.foundationacs.com⁠ In this episode of the Contractors Profit Hack Show, Jeremy Lott from Foundation Accounting and Consulting elaborates on the process of bidding a job. He covers how to allocate overhead costs such as insurance, cell phones, and vehicle expenses across multiple jobs to ensure accurate pricing. Using a personal anecdote, Jeremy explains the importance of spreading out...