Attending Scaling New Heights

Scaling New Heights in accounting to better serve clients in construction

We’re here in Salt Lake City, Utah at the Scaling New Heights convention produced by Woodard. We thought we would let you in on what we’ve been up to while we’re here. Keep in mind, everything we do (including convention attendance) hinges on our mission of helping our clients (small to medium commercial construction contractors) Run With the Big Dogs. And, we must tell you, we believe our experiences here have added to our ability to do so.

Scaling New Heights through attendance

From the Woodard website: “Each year, over one thousand of the world’s leading small business advisors and over 100 of the world’s leading software developers gather to gain knowledge, cross-refer services, develop practice skills…and more!”

From Tonya and Yvonne: Yes! Let’s roll!

We arrived eager to expand our knowledge and expertise, one keynote, one breakout, and one handshake at a time.

We were not disappointed!

In addition to that, we came with a set of objectives. Following our own advice  we had these goals in mind before we got here.

  • Expand our industry knowledge in general ✅
  • Find solutions for two client related problems
  • Look for new or updated app and SaaS vendors ✅
  • Network with peers ✅
  • Position Tonya as an expert* ✅

Learning from our peers, swapping big (and little) ideas, checking out the fun tech, and finding solutions for real life, real time problems our construction contractor clients encounter is exhilarating!

*Tonya was among the 4 people who served on a panel discussing best ways to serve construction contracting clients.

Scaling New Heights for the fun of it!

From joining the Knowify gang at Eva for tapas, to Jennifer Dymond showing us how the study of Improv  can make us better at serving our clients, we’ve been having fun! For Tonya, connecting with returning friends and for both of us making new friends has been the mortar to the building blocks we encounter in the breakout sessions.

Sharing tips, insights, and information one trowel blade at a time, is allowing us to share and compare with top notch accounting and business advisors from all across Canada and the US.

Scaling New Heights for the plums

It is possible we will still find more plums as this day and the next roll out. As of now, we’ve discovered 2 plums which have caught our attention and have already been acted upon in one way or another.

Plum 1. “We need to build out a very good website intake form to be available for potential clients to prior to initial consultation.”

Initial action step: Speak with website designer concerning placement. ✅

Secondary action step: Send info to calendar to begin design process. ✅

Plum 2. Need to take definitive action on the move towards AI in the accounting sector.

Initial action step: Begin brainstorm discussion with notes concerning possibilities. ✅

Secondary action step: Set up firm wide meeting to discuss iterations in business model. ✅

We’re excited to move on to the next sessions, meetings, and encounters as we finish up the week here at Scaling New Heights. And we’re excited about the upcoming possibilities.

 

Hope you’ve enjoyed this small peek into the happenings at the Schulte and Schulte firm.

Providing Accounting, Contract Document Management, and Advisory Board Level counsel for small to medium commercial construction subcontractors.

So you can Run With the Big Dogs. Call us! 866-629-7735 

Investing in Convention Attendance

Investing in Convention Attendance can bring you a great ROI

Investing is different than paying to attend

No matter which industry you’re in, seems there’s a convention or trade show for it. Perhaps more than one. And, unless your money tree is sprouting new leaves there is likely to be a cash consideration concerning attendance.

So, you must make your attendance evaluation based on the ROI. Yep, Return on Investment. If you get more in value than what you pay, a conference can certainly be worth it.

Look for the 3 “Es.” The best conventions will Educate, Enlighten, and Entertain you. As a matter of fact, conferences can be information avalanches. That is why it is important to have a goal in mind when you attend. (Hint: You can have more than one goal. Just make sure you have at least one. And don’t count free food and drinks in your goals.) 😉

  • Expand your industry knowledge in general (bring value to your clients)
  • Find solutions to specific business or client related problems (bring added value to your clients)
  • Encounter new vendors and suppliers (who may have options you’ve never thought of)
  • Network with peers (for the sheer joy of it)
  • Position yourself as an expert* (you’ll see an example below as you continue reading)

And, if more than one person from your commercial construction subcontracting business will be attending, it is wise to divide and conquer. Choose different break-out groups, classes, or training sessions. You can meet up for lunch or at the end of the day to share what you’ve learned or found.

Make your way to the exhibit hall; you’ll have opportunity to check out the vendor and partner exhibits so you can view all the new products, equipment, and technology available.

Important Investment returns

Plus, there are two less-measurable (yet highly important) investment returns you’ll want to consider.

  1. Conferences are a bargain when you think about how much education costs.
  2. When you’re immersed for a few days with other go-getters you can’t help but want to get out there and hustle too. Yes! Conferences are a motivation boost for you and your team.

Investing in convention attendance when you get home

Besides the fact you’re likely to meet allies and make friends during your conference days, there is another way to make the most of your investment. Set aside time to pass on what you learned to those who held down the fort while you were gone. In your morning huddle or at a special meeting, allow all who attended time to talk about something they learned, share a way they were inspired, or teach a new skill.

Speaking of conventions

Both Tonya and I will be attending Scaling New Heights this year. This is a conference put on annually by Woodard.

“Scaling New Heights is an internationally-renowned, in-depth training conference for accountants, bookkeepers and other small business advisors.”

And yes, we’ve chosen a few goals. Surprise, surprise! Between us, these are our goals:

  • Expand our industry knowledge in general
  • Find solutions for two client related problems
  • Look for new or updated app and SaaS vendors
  • Network with peers
  • Position Tonya as an expert*

*Tonya has been asked by the Woodard team to be part of a break-out session. It will be comprised of a four-member panel which will discuss the junction of QuickBooks and Construction Contracting. So yeah, we’re tooting our own horn here!

So, look out Salt Lake City and Salt Palace Convention Center! Some (not so) boring accounting, bookkeeping, and small business advisors will be rocking out the place June 16 – 19, 2019!

 

It is our desire this article (among our growing library of construction-centric informational articles) is helpful in assisting commercial construction contractors build better building businesses.

Providing Accounting, Contract Document Management, and Advisory Board Level counsel for small to medium commercial construction subcontractors.

So you can Run With the Big Dogs. Call us! 866-629-7735 

10 Qualities Needed for Scaling Your Construction Contracting or Service Business

10 Qualities Needed for Scaling Your Construction Contracting or Service Business part 1

Being an entrepreneur in the construction field comes with a few challenges other entrepreneurs don’t face.

There are a lot of ideas concerning what it takes to be an entrepreneur. For example, you’ll hear things like:

  • You need to be motivated by challenges
  • You’ll have to be tenacious
  • You’ll need the support of your family and friends
  • You will be one who loves new ideas
  • You must see and fulfill needs
  • You should notice how things can be improved

And, those are all good ideas about entrepreneurship, (you’ll do well to heed them) yet there are 10 very specific qualities it takes to be an entrepreneur in the construction field, to be a construction contractor who is ready to scale.

  1. You need to get “shower ideas” – and act on them

Even if it means you need to bolt from the shower to call your superintendent to tell him the solution you’ve discovered concerning the nagging problem you been having with [you fill in the blank.]

Perhaps you need to keep one of those gizmos in the shower meant for writing on in wet conditions – although you’re more likely to make a few drawings then add a note to get true measurements.

Or, it could be you create a mantra in your head as you’re driving down the freeway, so you’ll still remember your great idea when you reach home. Therefore, you’ll have the basics of the good idea, and you can put it into action.

The main point is, no matter when (in the shower or not) you get ideas you’re willing to put the idea into action in order to make your construction contracting or service business better tomorrow than it was yesterday.

  1. You’ll have to love growth – in oh so many ways

The unique position in which you as a construction contractor find yourself is one in which growth; your own, your businesses, your employees, your community all meld together into one cohesive unit that turns out to be rather stunning.

As you and your employees work together to grow your business while being a part of the growth of your community there comes a moment when you can stand back and say, “I did that!”

It can start at the level of being able to say, “Because I and my team had the right system in place in my construction business, I took Joe Right from apprentice, to craftsman, to master craftsman, to supervisor.”

It might take the shape of understanding that because you and your employees showed up there are more families across your city who need not worry about how to stay cool or warm or protected.

Or, it could be you drive past the latest of your builds and see the finished project knowing you had an integral part of making sure that location houses a family, or provides a place of employment for many, or allows a space for medical personnel to care for patients, or improves the infrastructure of your city or state.

Growing your business is important to you, partly because you know you’re growing more than “just” a construction contracting or service business. You’re growing, your people are growing, your community is growing. Stunning!

  1. You need to understand you’re a leader – and lead the way

Whether or not you awaken in the morning thinking, “I’m a leader,” you really must possess the qualities of a leader if you’re going to pull this off. If you own a construction contracting or service business you’ve already taken a lot of steps in the leadership role.

Being THE leader means you’re the one with the vision of how your construction contracting business fits in the industry now, how it will look a year from now, and what it will look like in the long term.

You also have to be able to communicate the vision in ways that enlighten your potential customers, enable your employees, and empower you as well as your team to each next level.

You are the one who is creating the work culture for your employees, delegating, making decisions, encouraging your team, and (bottom line) working on your business, not in it.

It doesn’t matter if you know how to pick up and use the tools necessary to build for or provide a service your customers. You can and should get someone else to do that. It does matter that you know how to be an entrepreneur, how to use your financial reports to lead into the future, how to see the big picture and take the necessary next steps to scale your business.

You may wish to join a structured entrepreneur group where other members will be available as mentors or advisors concerning the specific issues you face as a business owner.

  1. You need to network with your colleagues – for their sake as well as your own

Let’s face it, people like doing business with people they like. Beyond that, when can you ever have too many contacts in your chosen field?

Join your trade association

Most trade associations host various conferences, events, and meetings on a regular basis. By getting involved you have an excellent place to make new connections. It takes more than just paying the membership fees, it takes becoming a recognized and trusted face. When you become known as the “go-to person” it just makes sense that when business opportunities do arise, so will your name.

Yet, if you live in a location where regularly attending meetings of your trade association (think – more than a 2 hour drive) requires too much time and travel you may want to consider the next option.

Join or develop a private group

I recently read about a fellow who had formed a private group which he said included eight to nine other subcontractors, developers, and a land broker. They call their group The Meeting of the Geniuses, and they get together every six weeks at a favorite (in his words) “watering hole to discuss what is going on and what we are working on at the time, and football, and cars, and…….”

The crucial aspect is they can support one another, discuss their problems or issues then talk about possible solutions.

Attend networking events sponsored by large contracting firms

When you’re invited to attend an event sponsored by a contractor for whom you’ve worked GO! It is a great opportunity to spend time getting to know other subs, suppliers, and vendors. Besides, there is usually food and drink on hand at these events.

Network on the job site

Don’t overlook the construction industry’s unique ecosystem of enmeshed, intertwined, and overlapping network of professional connections. Take time when you’re on the job site to check around for other subs. Who knows when a brief chat on a job site may lead to another job or a relationship which adds value to your construction company.

Maintain contacts

Having good relationships with former employers, coworkers, and subcontractors with whom you’ve worked in the past is a networking tactic worth the time and effort.

And, because most people do genuinely appreciate it when you seek them out with questions you have concerning their area of expertise you’re likely to get a good response when approaching them with your needs. BUT, more important than seeking them to solve your problem you may approach them when you have a connection you think they may be interested in or you’ve come across a solution you know they would appreciate seeing.

Your main networking goal

Your main goal when thinking about networking should be finding ways to help your new contact! Miss this important aspect of networking and the truth is you miss it all.  Don’t become the guy who interrupts conversations, thrusts business cards on everyone, talks incessantly about himself, and annoys the heck out of everyone.

Instead, be the guy who focuses on how he can help those he meets. The simple equation is when someone needs a contractor in your field and you’re the one he thinks of because he has been helped by you, and has seen what you’ve done for others he is most likely going to give you the call.

  1. You’ll have to surround yourself with advisors – who mean business

Getting the right business advisors in place as soon as possible helps any business grow. Getting the right advisors in place for your construction contracting business can make the difference concerning whether you live in the paycheck to paycheck lane, of if you move into the lane where the big dogs are running.

Some of the advisors you’ll need to consider are:

  • Attorney
  • Banker
  • Accounting Advisor
  • Information Technologist
  • Insurance Agent
  • Marketing Guru
  • Tax Preparer

Surround yourself with good people who offer good solutions to your bad problems.

Surround yourself with good people who are honest and have integrity.

Surround yourself with good people who aren’t afraid to stand up to you and let you know when you’re missing an important part of the picture.

There is more to come

Part 2 coming soon. We’ll present 5 more Qualities Needed for Scaling Your Construction Contracting or Service Business.