Imagine finding a $600K error in your books! Cory Parks shares his journey from near disaster to business revival. You don’t want to miss this!Time Stamps00:45 - Episode & Guest Intro03:25 - Cory's Business Journey07:28 - Financial Struggles and Solutions11:41 - Management Team and Roles16:44 - Cory's Profit Problem22:14 - Cory's Financial Literacy Journey30:31 - CRM and Bookkeeping Challenges31:56 - Automating QuickBooks Integration32:22 - Identifying and Solving Duplicate Entry Issues33:31 - Leadership and Financial Challenges34:58 - Implementing Salary Cuts & Transparency36:52 - Rebuilding Financial Stability37:49 - The Importance of Trust and Transparency39:02 - Navigating Financial Statements42:42 - Learning from Mistakes and Seeking Guidance53:18 - Transitioning from Cash to Accrual AccountingSnippets from the Episode“I have made every single mistake that Martin talks about in his book. Every single one of 'em!” -Cory Parks“We were doing well, but we kept coming back to our books.” -Cory ParksMy income statement is telling me that we are absolutely killing it. We're making $600,000 profit, but where is the money? - Corr ParksResources24 Things Construction Business Owners Need to Successfully Hire & Train an Executive AssistantSchedule a 15-Minute Roadblock CallCheck out OpenPhoneBuild a Business that Runs without you. Explore our GrowthKits Need Marketing Help? We Recommend BenaliNeed Help with podcast production? We recommend DemandcastMore from Cory ParksHydroHelp911 websiteCory Parks on LinkedInEmail CoryMore from Martin Hollandtheprofitproblem.comannealbc.com Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cash Flow ContractorSubscribe to our YouTube channelSubscribe to our NewsletterFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Visit our websiteEmail The Cashflow Contractor
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If you’re like most contractors we know, then you started your business because you’re passionate about and great at your craft. You also wanted to be your own boss. Owning a business has a lot of advantages, but also a lot of challenges.
We started this podcast to talk about things that matter to you as an owner, like business fundamentals, sales processes, marketing, leadership, and much more. Armed with knowledge, you’ll be able to reach your goals, whether that’s growth, getting your shop to run without you, or anything in between.