S2 E50 - Stop Leaking 20% Of Your Profits

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Beers With Contractors

Beers with Contractors

109 episodes

4 days ago

Welcome to Beers with Contractors. We're cracking a cold one and taking a deep dive into the foundations of your construction business, pun intended, to unearth the strategies, techniques, and insider knowledge that can take your contracting business to the next level. So, grab your favorite beer, pull up a seat, and let's have a chat about the nuts and bolts of the construction industry.

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S2 E50 - Stop Leaking 20% Of Your Profits

Beers With Contractors

52 minutes 48 seconds

3 weeks ago

S2 E50 - Stop Leaking 20% Of Your Profits

In this episode of Beers with Contractors, hosts Terry and Will sit down with Duane Deason, the Founder and President of The Efficacy Group and author of “Operationally Svelte”. Duane shares his expert insights on cost management and efficiency improvements. Duane also delves into common profit leaks in companies, the impact of a company's culture on cost control, and effective strategies for leveraging technology to reduce costs without sacrificing quality or headcount. He discusses the challenges and rewards of working with both private equity groups and mom-and-pop organizations, and highlights the importance of creating a cost-conscious culture to ensure long-term profitability and growth.

00:00 Introduction to Cost Savings

00:55 Challenges in Implementing Change

01:13 Entrepreneurial Influence on Business Efficiency

02:01 Growth and Organizational Waste

02:45 Balancing Spending and Results

05:21 Misconceptions About Cost Management

07:48 Leadership and Organizational Balance

12:03 Effective Cost Control Strategies

22:30 Real-World Examples of Cost Management

25:48 The Impact of Financial Decisions on Company Culture

26:27 The Technology Bubble and Its Implications

28:23 AI Bubble: Potential Risks and Opportunities

31:22 Cost-Saving Strategies for Contractors

32:02 The Value of Performance-Based Consulting

35:50 Leveraging Technology to Cut Costs

38:18 Common Profit Leaks in Businesses

41:41 Working with Different Types of Organizations

48:30 The Importance of Cost Management Centers

50:32 Final Thoughts and Farewell

Contact Duane Deason at:

Email: ddeason@efficacygroup.com

Website: https://efficacygroup.com

LinkedIn: https://www.linkedin.com/in/duanedeason

Link to Book “Operationally Svelte“: https://www.amazon.com/Operationally-Svelte-Increase-Enhance-Performance/dp/B0FRN125K1

Foundation Rescue Supply Link:

https://www.foundationrescuesupply.com/

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