Once again, LBM Expo has put together a lineup of world-class education that will help you maximize your profits in 2018.
How to Improve Your Contractor Customers’ Cash Flow, and Yours Too!
Shawn McCadden, Remodel My Business, Inc., Consultant, Educator and Speaker for the Remodeling Industry
The economic recession in 2009 created many challenges for contractors as well as LBM Dealers. One they definitely still share is cash flow. Probably one of the most typical reasons an LBM dealer has cash flow problems is because their contractor customers are also having cash flow problems and are therefore challenged to pay their bills on time. If that statement is so obvious, then why does the problem persist and why hasn’t it already been solved?
Unlike their vendors, the reasons contractors have cash flow problems usually has nothing to do with their customers’ ability to pay. Instead it has to do with a lack of financial understanding and best business practices. By understanding why contractors have cash flow problems contractors, LBM Dealers, and their employees can all help each other improve everyone’s cash flow.
By attending this seminar you will:
- Consider several different ways to figure out in advance that a contractor will likely have cash flow problems.
- Explore several reasons contractors have cash flow problems and how to help them create solutions.
- Examine the difference between under-billing and under-charging.
Shawn McCadden is one of the most prominent figures in the remodeling industry. He obtained his builder’s license by age 18; founded, operated, and sold a successful employee-managed design/build firm; co‐founded the Residential Design/Build Institute; and went on to become director of education for a major national bath and kitchen remodeling franchise company. Today he speaks frequently at industry conferences and trade events, consults with remodeling companies, blogs, and writes an award winning monthly column for Remodeling magazine. Shawn also consults with construction-related product manufacturers and suppliers, helping them understand, find, educate and better serve remodelers in mutually beneficial ways.
Growing Your Bottom Line
(Luncheon Panel Presentation)
Installed Sales: Reed Kneale Sr., VP Operations OC Cluss Lumber & Building Supplies, Uniontown, Pa.
Multi-unit Housing: Neal Fruman, Principal, National Lumber, Baltimore, Md.
Leveraging Your Online Presence: Zach Williams, Founder, Venveo, Blacksburg, Va.
Reed Kneale Sr. will cover:
Installed Sales & the Major Factors Affecting the Profitable Operations of Independent LBMs:
- Examine the major factors for sustainably increasing profits.
- Discuss some common improvements which can be made to an installed sales program.
- What are some of the “Best Practices” for installed framing?
Neal Fruman will cover:
National’s strategy towards supplying the apartment communities throughout Baltimore and D.C. :
- Consider how a dedicated sales and operations team who focus on supplying cabinetry/ countertops/ and millwork to apartments communities will assist in the process.
- Examine how this process drastically differs from selling builders/ remodelers.
- Discover the importance of involvement in local multi-family trade associations to help drive business.
Zach Williams will cover:
Zach will be talking about how Lumber Dealers and manufacturers can leverage their online presence to not only improve awareness but grow sales as well. During Zach’s session you will:
- Explore 5 simple digital strategies that will help your sales today.
- Discuss what lumber dealers don’t know about digital and how it effects the sales channel.
- Learn about 3 lumber dealers who are outperforming their competition through digital and how you can replicate their strategy.
Tim Costello, President and CEO Builder Homesite, Inc., and New Home Technologies, LLC
The rate of technology change and consumer adoption continues to accelerate, greatly outpacing the ability of most companies to adopt and change. Artificial intelligence, chat bots, virtual reality, augmented reality, voice control, machine learning, human bionics … the list grows every day. How are you not only coping with but embracing the opportunity these technologies offer? Competitive differentiators and barriers to entry are vulnerable to technology disruption and nimble technically advanced challengers. This is being played out all around us whether it be Airbnb, Uber, Tesla, Netflix, Amazon... or right here in the heart of the building industry. Managing the digital transformation will be the deciding factor between future success and failure. The mandate is clear, “prepare to disrupt or be disrupted.” The $10,000 question is how to manage the digital transformation of an existing enterprise. The democratization of technology has put advanced technology within the grasp of any organization, leveling the playing field between large and small companies. Come learn why businesses of all kinds are facing an onslaught of change along with increasing customer expectations and what to do about it.
- Gain a more in-depth understanding of why change seems more unmanageable in today’s environment.
- Understand the key technologies driving change within B2B and B2C organizations.
- Learn how other businesses have embraced these new technologies to grow their businesses and build competitive advantage.
- Explore how these technologies can impact companies within the homebuilding vertical.