Struggling with cash flow during the festive season? Discover our top 5 Christmas hacks to ensure your trade business gets paid promptly. In this episode of The Site Shed, we delve into practical and effective strategies to manage invoices, negotiate payment terms, and use technology to streamline your financial processes. Christmas is a crucial time for contractors and understanding these hacks can be a game-changer in maintaining healthy cash flow.
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Watch the video version of this podcast at https://youtu.be/P6o6_VgVcIU
Discussion Points:
00:00 Episode highlight
06:29 Get paid before work, avoid losses.
08:00 Builders need to charge for scoping sessions.
10:38 Get variations and approvals in writing always.
14:21 Regular leads empower clients to be choosier.
16:57 Negotiating contracts can create powerful opportunities.
22:12 Add admin fee to quote, use as discount.
25:48 Hourly rate calculators help determine true costs.
28:13 Track job costs and overheads for profits.
33:11 Negotiation is essential, especially in unrealistic situations.
Resources:
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