407: Why Builders Shouldn't Be the Bank with Shane Durkin
About this episode
Shane Durkin discusses the importance of financial clarity for builders and the need for better systems in construction finance.
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 Sign up for the Modern Craftsman Community: 👉🏻 MC Community Sign-up Sign up for the newsletter: Newsletter Sign-up 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…
Sponsors
Harnish Workwear, Andersen Windows
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