407: Why Builders Shouldn't Be the Bank with Shane Durkin

407: Why Builders Shouldn't Be the Bank with Shane Durkin

A lot of builders run millions of dollars through the business without a clear view of what they actually make. Shane Durkin talks through construction finance, project money, cash flow, profitability, and why builders need better systems than acting like the bank for every job.

Shane's Websites:

https://www.buildpatriot.com

http://www.ledgerwise.com

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Show Notes:
00:00 The Builder's 16% Slice
00:23 Meet Shane Durkin
05:14 Tyler's Superior Walls Foundation
10:37 From Maryland to Coronado
16:03 Engineering, Lacrosse & the Naval Academy
20:41 9/11 and the Pull to Serve
25:35 What the Naval Academy Was Really Like
32:37 Leaving the Military
38:00 Getting Back Into Building
42:00 The Value of Higher Education
50:00 Business School Meets Construction
54:50 Construction Fund Control
60:00 The Missing Piece in Construction Finance
65:20 Why Builders Shouldn't Be the Escrow
74:30 Revenue, Profit & the Financial Tornado
80:10 Selling Financial Stability to Clients
84:10 Building a Better Pay Chain
98:20 How LedgerWise Came Together
102:30 Let Builders Be Builders
108:20 Why More Work Doesn't Always Mean More Money

Video Version:

https://youtu.be/JcYe0DN0Om8

Partners:

Andersen Windows

Harnish Workwear

Use code H1025 and get 10% off their H-label gear

The Modern Craftsman:

linktr.ee/moderncraftsmanpodcast

Find Our Hosts:

Nick Schiffer

Tyler Grace

Podcast Produced By:

Motif Media

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Jaksot(594)

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