How to Survive a CASHFLOW CRISIS (for Roofers)
About this episode
Kody shares his experience of overcoming a cash flow crisis in the roofing business by implementing effective cash management practices.
Kody had nearly $1M in revenue due that month when the phone started ringing… It was the solar companies calling - the same solar companies he was installing roofs for. They said they were having cashflow problems and couldn’t pay what they owed. In a few short weeks, Kody was stiffed for $1M. Payroll was staring him in the face. His company owed more than he was bringing in. He had two choices. 1. Figure out how to survive the cashflow crisis. 2. Go out of business. Kody worked seemingly non-stop to save his company by focusing on one simple concept: Speed up cash coming in and slow down cash going out. He survived by focusing on using these 5 cash flow management practices. P.S. Behind most successful roofers is a story like Kody’s. People just don’t talk about it in the open. But when you are surrounded by a value-aligned community, you can be real, ask real questions, and get helpful advice. That’s how we support each other inside the Roofing Strong Alliance™. Learn more or apply to join us: https://rsa.pro/ ============= Join The Roofing STRONG Alliance by TAMKO™ (RSA): https://rsa.pro/ Exclusively available to The TAMKO Edge® Certified Contractors at no additional cost…
Topics covered
- cash flow management
- roofing industry
- business survival
- entrepreneurship
- financial crisis
Sponsors
TAMKO
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