Blueprints for Success: Building Financial Foundations
About the webinar
Building strong financial foundations is essential for long-term success in the construction industry. Join us in this webinar as we provide you with the strategies and tools you need to effectively manage finances and drive profitability in your construction business.
Agenda
- Understand the importance of having a business plan for your construction company.
- Learn how a well-defined business plan can help you clarify your vision and objectives.
- Understand the role of market research in analyzing your target market and understanding customer needs and preferences.
- Learn how to identify the services you will offer and how they differentiate you from competitors.
- Understand what is involved with a strong marketing and sales plan to attract clients and generate leads.
- Learn the factors to consider when determining your business operations, including staffing, equipment, and supply chain management.
- What factors should be considered while creating financial forecasts, including revenue projections, expenses, and cash flow analysis?
Agenda
Agenda
- Motivations
- Objectives
- The Critical 4 numbers every CEO should be watching
- Stage 1 - The Process of Building a Budget
- Stage 2 - Managing the Project
- Stage 3 - Project Post Mortem
Agenda
- Understanding the 7 critical phases of the project life cycle: Concept, Criteria, Configuration, Construction, Commissioning, Completion, and Closeout.
- Deep dive into Budget, Schedule, Quality, and Safety.
- Strategies to balance these pillars and ensure project success.
- The dynamics of assembling and managing a strong construction team.
- Roles, responsibilities, and the importance of communication and collaboration.
- Important steps to take when closing out the project and getting it ready for owner occupation
Agenda
- Why are you posting?
- Who are you targeting?
- What should you post?
- Where should you post?
- When should you post?
- How should you go about doing social media?
Agenda
- Elevate standards of care for their team
- Resolve production challenges efficiently
- Cultivate buy-in
- Spread the gains across teams
Agenda
- What is a 401(k) plan?
- How it helps with employee retention and recruitment
- How Human Interest simplifies 401(k) for small and medium businesses
- Key benefits and compliance support for construction companies
- Cost breakdown overview
- Affordability for small to mid-size companies
Agenda
- Background on the FAR, uniform guidance, and unique requirements for federal jobs
- Summary of Davis-Bacon prevailing wage and administrative requirements
- DOL 2023 update to DBRA implementing regulations and ongoing legal challenges
- Related development: Project Labor Agreement (PLA) mandate for large federal construction contracts
- Compliance challenges and best practices
- Features of an effective ethics and compliance program, per DOJ’s Evaluation of Corporate Compliance Programs (updated Sept. 2024)
- Requirements for federal contracts and federally-funded projects
- Recent developments for federal grants and assistance: whistleblower protections; mandatory disclosures; debarment standards
- Enforcement trends: bribery and kickbacks; collusive bidding (including an update on DOJ’s Procurement Collusion Strikeforce); False Claims Act
- Compliance challenges and best practices
Agenda
Agenda
Agenda
- Importance of job costing in construction.
- How accurate cost tracking impacts profitability.
Speakers
With 24 years of experience as an entrepreneur and CFO/COO, Greg has successfully led multiple organizations, from startups to businesses generating multiple eight-figure revenues. His extensive expertise includes guiding companies from near bankruptcy to profitability, expanding single-location businesses into franchises, and steering firms through the challenges of the COVID-19 pandemic to achieve high profits. He is a graduate of the Harvard Executive Education program and was nominated for CFO of the Year in San Diego.
A noted influencer and self-proclaimed troublemaker in the construction industry. Lance brings a unique perspective and wealth of experience to the table, making him the perfect guide for our webinar series.