How to Build a Construction Business That Actually Creates Wealth (Ep 285)

Did you build your construction company by default—or by design? 🔨💼

Today, Max takes a deep dive into the difference it makes when you build your business with intention and a clear plan—and the consequences of letting it grow by default.

Your business can become a source of profit and productivity, 📈 or a source of debt and chaos.🔥

Catch today's episode on the whiteboard --> https://www.youtube.com/playlist?list=PL76rc3DrCOMb7VM9icAOQmLodNCSZTfKf

--------------

🔗 🚀 Get Organized with JobTread – Start Your Free Trial!
👉 JobTread Signup: http://www.jobtread.com/invite?referralCode=max27

💡 Important: Before signing up for the 30-day trial, email Paris Woolever to request her as your support manager. She’ll help you get set up and maximize your trial!

📧 Email: paris@jobtread.com

--------------
💡 Important: Before signing up for the 30-day trial, email Paris Woolever to request her as your support manager. She’ll help you get set up and maximize your trial!
📧 Email: paris@jobtread.com
--------------
📲 Connect with Max Directly:
📞 WhatsApp: +1 604.227.2115
📧 Email: max@elitebusinessadvisory.com
--------------
💼 Elite Business Advisory: https://elitebusinessadvisory.com/
🎓 Silver Bullet Academy: https://elitebusinessadvisory.com/academy
--------------
🔥 Join Our VIP Group for General Contractors!
Discuss business tips, download checklists, and network with top contractors.
👉 Business for Builders VIP Group: https://www.facebook.com/groups/b4bvip
--------------
🔗 Follow Us on Social Media:
📱 TikTok: https://www.tiktok.com/@business_for_builders
📘 Facebook: https://www.facebook.com/businessforbuilders
📷 Instagram: https://www.instagram.com/business_for_builders
💼 LinkedIn: https://www.linkedin.com/company/businessforbuilders
🐦 Twitter: https://twitter.com/bizforbuilders
--------------
🏗️ #generalcontractors #contractors #builders #businessadvice #construction

Transcript

SPEAKER_01 0:00

Why are you and your builder mates all broke? On today's episode, I'm going to chat with you about how the tail doesn't get to wag the dog and you get to create wealth if you build a business by design, not by default. Enjoy.

SPEAKER_00 0:13

How old are you going to be before you start to experience life like you want it? I want to tell you right now, whether you like it or not, there is a better way to do business.

SPEAKER_01 0:23

Hi everyone, welcome to the Business for Builders podcast. My name's Max. I am your host. Great to have you in the room. Good if you're in YouTube, land. Welcome to you as well. Let me say to the guys and gals on the podcast, you may want to get across to check out the YouTube channel at some point because it's got a bunch of good visual stuff on there as it relates to growing a high performance, highly profitable business. Alright, a little bit of housekeeping, like and subscribe, all that kind of good stuff. Ding. And uh if you've got any questions, Max at elitebusinessadvisory.com. If you want to chat with me about uh how your business is doing, I'll I offer a complimentary coaching session. So get across to elitebusinessadvisory.com, hit the uh consultation or book a book a meeting or book a consultation, big yellow button, and uh that will help you uh see what's on you know see where I'm available on my calendar, and then you and I can sit down and have a quick chat about what you're doing good, maybe what you're not doing so well, and hopefully uh we can figure out a plan after that. All right, let's get after it. Don't forget Facebook pages, business for builders VIP, private group, answer three questions, let you in. Uh business for builders, uh just a regular open group there as well. And I encourage you guys the whole reason for that is that I am not the magic of this industry, right? I'm sure you know that. Um, but you can get across there and just talk amongst yourselves. And obviously, I curate and I manage I manage that and I make sure that you know there's no unwanted salesy bullshit going on in there because I want that to be a good environment where people can put out questions, and if you have got the experience and the knowledge and you're confident that what you're about to say is gonna work for somebody else, then uh I think it's important that we share the good oil. Okay, so uh do that. Look, um today, as you can see on the board behind me, for those that are on the uh on the YouTubes, you can see that we're gonna talk about a structured wealth creation model for builders. Now, this is an introduction because as I was preparing for this, I'm just thinking it's kind of like you and I are on base camp, right? Bottom of Mount Everest. And so we can map out the plan, we can see the trail that's kind of been worn, and we've got an understanding of the direction and how we're gonna go about it. The biggest challenge for mountain climbers on that mountain, as best as I understand, based on some of the documentaries that I've watched, um, that it's not so much the that that you can't see where you've got to go. You've got the plan, you understand it's been done enough times now. Um, but there's weather conditions as you get up the mountain, there's a lack of oxygen the higher you go, all that sort of business. And then it's up to the individual. Some are more athletic than others, some have a more resilient mindset than others, and they make it to the top and come back. Although the majority of people that do die in Mount Everest, like uh interesting point, is on the decline coming back down. Okay, so they've made it to the summit, got the picks, and uh haven't been successful in returning to base camp. So, you know, we today it's about okay, we're gonna talk about a creation, a wealth creation model for builders, which means that is the summit, that's where we want to go. However, there's a lot of people that die in this mountain, okay, who don't make it. And so, you know, there's a few really, you know, and this could you could be sitting there going, what a load of you know, garbage. I'm not interested in that, I just want to know how to make more money. Well, we've got to have the end result in mind, okay? And so to be able to do that, you can sort of see the summer, but you've got to be able to understand that the process is not that easy. I think it's simple. I think it's it's not a complex. If you can understand the basics and you execute accordingly, I don't think anyone's gonna turn and go, oh, that was really complex. I think it's fairly simple, you know, but it it does require uh a very large commitment over a large amount of time because it doesn't happen that easy. It doesn't, you don't get to put it together in five minutes, okay? If you want to do that, keep scratching lotto tickets, then you might have a chance, right? So, first thing here is uh is company financials. Probably lost half the crowd already. Um, financials and pricing. Now the two go together hand in hand, right? So your numbers tell the truth. So profit, okay, not just profit margin, but I'm gonna talk about profit, I want to talk about margin, and I want to talk about cash flow. That's what reveals what's happening in your business. So we've talked about this before. If you have a cost of goods sold, cogs, okay, and you you have and that is a hundred bucks, and then you add 25% markup, you create a margin of uh 20%, right? Which is 25 bucks. Now, if you don't get that, right, forget about going to the apex, forget about going to the summit. If you don't understand the difference between markup and margin, then you need to start educating yourself, and that gives you an understanding that in my books, you are at a very elementary level, you are not secondary, and you certainly are not tertiary, right? So you've got to understand that at the drop of a hat. So when I mark up 33%, it creates a 25% margin. So if I marked up$100 right here by 30 uh 33%, that would be equivalent to a$33 like cash profit position, which is 25% margin of that$133 sales price. That I'm not going to dive into that today, but that's part of knowing your financials. Um, a profitable pricing system. So let's just come back to that. Knowing your numbers around company operations or operational activity is important as knowing the budget numbers for each project that you do. So who goes and starts a project and you don't know what materials, what labor, what profits you've got allocated, what your company running expenses are for that project, for the time that you've got to manage the project. You you say, You well, who wouldn't start who would start a job without knowing your numbers? Exactly. My question to you is who run, who who out there runs a building company and doesn't know the numbers for that operation? And I would say at least 50% of guys and gals do not. And the reason I say that is because after five or at five at the five-year mark, 50% of builders are either broke or out of the business. Of the 50% that's left by year 10, 50% of that lot is also broke or out of the business. Which means over 10 years, we've only got 25% of builders that start today are still there in 10 years. And they're probably not that profitable, they're just hanging on by the skin of their teeth. Okay. So it's important that you understand that the company financials. Um, and there's a whole bunch of things. If you sort of said to me, What is that? We haven't got time to do that. If you can look back in some of the past episodes, I've talked about my activity key metrics. All of my uh EBA uh clients, past and present, will know exactly what I'm talking about. We start with the Rev target over here and we go right across till we can see what we're getting for um ROAS as far as the marketing's concerned, okay? And everything in between. It's all about whenever there's activity. This is not a historical kind of thing like accounting is. Okay, we've got to understand the financials where we're going, we've got to understand that our behavior in the business or the business's behavior is on point. It is acceptable. And in the event that it's not, um, first of all, we've got to be able to identify when it is and when it is not. And once we identify where it is not, then we've got to take action here and now. We're like, okay, the last 90 days, we've been watching it. We watch this revolving 90 days. So we look back and say, well, what was the trends in the first quarter of the year, uh, January to March? And we go, well, we had two good months, one bad month. All right, so what is trending up? Not trending up well enough, but it's trending up, it's better than trending down. That's the sort of thing that we do if you're not monitoring it, or as you're waiting on the accountant to do at the end of the year to tell you how much money you've either made or lost. And here's the sad part: you once you've once you get to the end of the year and the accountant says mate, you made a$50,000 loss, there's no chance that you can go back and claw that back because you were made aware of it at the end of the financial year, too late. The other side is true, if you've made really good money or it shows on your uh PL and your balance sheet that you've made good money, um, and I've got a situation, and the reason you could show that you've made money, and hey, let's face it, if you make money and you pay tax, it's a good thing, it's not bad. Okay, problem is a lot of guys will show good income right at the back end of the financial year, it'll get posted on their financials, and then they'll pay their wonderful tax department more tax than they ought, and then they've kind of got to wait for the next financial year to come back around before they correct that. But if they don't know what they're doing, because they don't have an understanding of their company financials, they'll just keep doing the same thing, and eventually it'll be too much and they go, bugger this, I'm doing something else, so I'm getting out, right? So we're not gonna really dive into the micro. Um, now what supports if you've got your eyes on company financials it and and they're good, it's probably because I'm gonna ditch this because it's not working. Um, it's probably because you've got your pricing thing sorted out. Now, some of my previous episodes, um, and I've certainly evolved, you know, in my world in the last five to seven years. I've gone, I I've been involved in the construction industry at multiple levels, okay? Um, but specifically in the last 15 months, you know, it's been challenging even for me coming out the back of not so much COVID, but everything was just so good in COVID for us builders that at the end of COVID, people got on planes and everything in the way of lead gen and construction fell off a cliff. And if you weren't careful and you were maintaining costs that you would in that you'd put together inside of COVID, you could no longer afford that. And what you were doing is any of your stat cash was diminishing because you thought it was going to come back. Because you didn't have the experience or the wherewithal to go, hang on a minute, the gravy train is finished. So I've got to let go of a bunch of people, sell a bunch of assets to release some leases, etc., to make sure that I can create financial stability in my business. That's the game. And I've seen guys that have just said to me, Oh Max, you don't understand. I can't get rid of that human, it's too good. And I'm like, mate, you can't afford him or her, he or her has to go. See, it's all about your company and the shareholders inside of or the folks that are shareholders of your company, and for the most part, it's going to be you and the missus, or you're alone, you're the shareholder. So we're looking after our own family by doing that. But I think what happens is, and I've fallen into this trap, is optimism gets the best of us, and we think, ah, shabby, right, mate, it'll come back. Don't worry about it, it'll bounce back. And it does because the real estate market is very cyclic. However, it doesn't come back when you want it to come back, it comes back when it comes back. Okay, and so my even my own numbers in our own company are ridiculously like it's 10x. The first 12 months compared to the second 12 months is 12x. Because I was very staunch on fixed price, and guys and gals that have been around, you know me. But I I had to make a pivot. It wasn't like, well, I've told the rest of the world that they should all do fixed price. Do we do cost plus? Yeah, we do. I've got one going on right now, right? I've got another one coming up shortly here, and probably would they would like us to start now, but we can't. Okay, I've had to just put them back a little bit. But this is the thing: I had to pivot. So if I've got a pivot to survive, so do you. Okay, and the only way you know that is to make sure that you're looking at your company financials and that you are using a profitable pricing system. A profitable pricing system is the foundation of long-term wealth, and without financial clarity, growth, growth only amplifies problems. So if you think, well, if my business is growing, my stress will come down. Wrong, ain't gonna happen. Not all the time, and that's because you don't know your financials and your pricing model or methodology is wrong. If you're not monitoring your metrics and if you are not pricing right, when your business grows in revenue, you'll make less money or you'll start going backwards. Something to think about. Right, point number two sales and marketing. Okay, obviously, what we're shooting for is uh more leads. Now I sat down with our local radio station uh last week, and you know, they had met up with us met up with us at the home show. Interesting that go they go around and talk to all the businesses and try to put together some some promotion for their own business, so they use the home show and they they you know they've got an affiliation with the home show organizers. Um, but I got talking to one one person there and then I met with them last week, and I made it clear when I sat down two things. One, I think radio is overpriced. Okay, it's not that you don't have the eyeballs or the reach, it's just overpriced. Okay, so let me make that clear. Second thing, I said if I want more leads, I'll go and just turn up Google. You pay to play, you have good campaigns like we do, you have good SEO, a website that gives plenty of information, uh, that's very uh, you know, good resource for homeowners. If I want more leads, I will just turn up Google and I will spend anywhere between 35 and 50 a day, and I will have enough leads to do what I need to do. So, where do you think that put the radio station? They're like, okay, well, I'm not sure what we're gonna do here. Anyway, there's some stuff that's evolving, but at the end of the day, you and I just want more inquiry because that equals opportunity, okay. But what you must do to get leads is you need to, and this is why I talked to the radio station like I did, you've got to control the demand. And so for a brand like you know, Smith and Sons here in little old Vernon, it's got about 40, 45,000 people in the city, and then outside of that, there's probably another 15 to 20 in the surrounding areas. I think there's plenty of opportunity for little old me and Jed, okay, to run our two million dollar business, no problems at all, right? Um, the challenge is, and only yesterday I got an email, lead, lead in, right? And it was something to do, and it was, you know, it was something to do with Estrata and all this kind of stuff. And so for me, we're in residential, and I said that to the person, I said, Look, we uh the response was something along the lines of we specialize in mid to large residential renovations. So I sent her back an email and I never got a response, which is typical, right? They're just users and abusers. The thing is, what you and I have to do is we have to control the demand. Because if you don't, as the dog, if you don't wag the tail, the tag, the tail will wag the dog, and that's not on. Okay, so for you and I, if we are going to build wealth from this business, we only have 365 days per year. We don't know how many of those days we have left, and so it's important to make sure that we are making the most of every opportunity. And in some cases, like Alex Ormozy says, sometimes your level of success is determined by what you say no to. Right? Um, and so you know, shot off an email to a client uh last night, and we I think we talked about doing a deck for 50 to 75, and I just shot her an email yesterday saying, hey, look, we're going to come in around the$100,000 mark, subject to some quotes. Now, what's going to happen out the back of that, I don't know yet. But I know this, I am not building their deck for free. Right? So part of that is knowing that now, did I do myself a disservice in that regard by shooting my mouth off and thinking that we could do it for that sort of parameter, 50 to 75? Of course I did. But I've still got to address that promptly. I can't just let it linger because it will destroy my credibility, my relationship. And if you don't ask, you'll never get the understanding. So, for all I know, she will hit me back and say, you know what, it's more than what we want to spend, Max, but we really enjoyed you at the home show. We enjoyed you coming around our house, the chat that we had, everything looks positive. You can keep it at 100, Mosletov, great. We're we're happy to sort of go to the next step. You don't know. So you don't say no for the other guy. And this is the problem is if we don't communicate at the highest level, we will miss opportunity, and that's super important. So niche and client selection, determine the quality of your projects and profit. Now, I didn't say the size, okay, because we've got jobs on the go now for seven grand and we've got seven-figure contracts on the go. So what we understand is our pricing model is that in some cases the larger jobs quite easily cover our operations, which we've got, you know, ground right down as much as we can. And then all of the smaller jobs that we take on are actually just free money. So when I was able to do a commercial job, small commercial job, which we're doing currently, and it took no time or no headspace from Jed, I was able to set it up with a subcontractor who took on the whole amount of work because it is cost plus, then what it did is it created another stream of income without me having to mobilize or disrupt or upset the momentum that we've got in the bigger job. Because that's where I need my guys. This other thing was simple. We had a drywall that could do the job. I would just facilitate it, ordered things, got it all there, gave them access, and then for me spending maybe one or two hours a week, we can create some income, which is going to go straight to the bottom line, no problem. Okay, so don't get distracted by going, I only do big jobs. See, what I say to people is I don't know who you know. And I don't know if you know someone who's already looking for a general contractor and you're just waiting to see how I go on this little job before you recommend me. Because we smith and zones are easy to find, good and bad. Okay, so the fact is, hopefully we've got more good out there than bad. In some cases, you know, you guys will fight to develop your reputation, that's super important, and you've got to protect it, okay, like it's your family, because it does, it is okay. And so this is why you know we we we've got to operate at such a high level all the time, and that's what creates stress because we want to procrastinate, we want to get lazy, and we want to do what's comfortable. Success lies outside your comfort zones. If you want to create wealth from this little vehicle called construction, then it's going to take you getting outside your comfort zone. I'm sorry about that, but success does not negotiate. Copy, good, right? Consistent organic marketing builds trust before the first conversation. I've said this before. People will know 70 to 80 percent that who are who they're gonna go with, which general contractor they're gonna go with. You know, it's funny. I got another text from uh yesterday from a lady, and uh she was supposed to meet with another general contractor who has had he who she has had do work for them before, right? Sorry, I coughed that up a little bit. Okay, previously she's used another contractor. I said, as minute she told me that, I'm like, okay, so I'm a price checker. And she's like, no, no, no, no, no. Anyway, she texted me yesterday saying, Well, he didn't call me on Friday, we only don't want to do business with you. Boom. And so, purely from my ability to serve her at the highest level, communicate at the highest level, gives me the best chance. Does it guarantee me? No. Okay, but it gives me the best chance when I'm competent and coherent in how we deal with it. Now, where did she find us? She found us on Google, right? But if she does a little bit more digging around, there'll be lots of organic content where she can understand that I've met that guy. He sat in my dining room. We talked about my project, and that's the guy who's doing that big job on the west side. Okay. So that organic will build the trust, and trust is important. The further I go, it's very, it's very separate. You know, I like to trust, but then I like to verify it. Anyone that says to me I know what I'm worth is a red flag. Well, Max, I want this much money because I know what I'm worth. I'll tell you what you're worth to me right now, and that's zero. So it's all up from here, but you gotta prove it. You know, and if I was to yield and go, okay, I'll give you what you want, then over the short amount of time, like Gary Vaynerchuk says, hire quickly, all right, let's go. But I'll fire quickly because now I hold the leverage. Okay. So the trust is important. I love, you know what, I've done business with people and continue to do peaceful uh business with people that I absolutely trust 100%. And a lot of that has been determined by the behavior that's happened over the last, you know, two, five, ten years, right? Still there, very stable, very predictable, okay, not too volatile. Nobody's perfect, just not too volatile. But there's other people that there is zero trust with, and I might have been done business with them for two or three years, but their behavior maps to an end result that that is not trustworthy, okay? So you need to have consistency in everything that you do. So we just finished a home show a couple of weeks ago. I've sent off the documents for the next home show in I think September of. October of 2026. Why? Because kids walk in there and they want to know where the inflatable hammers are. And I think I had one here, but I've lost it somewhere. Oh no, there it is. Um, you know, it's because the more that we put it out there, the consistency, the certainty, people come back around and go, Yeah, I spoke to you in you know, uh March, but we couldn't make a move because X amount of you know drama that we're having, we couldn't do it, but now we're ready. And it's just that consistent. That's organic, just by the way. So here's a trick: local market dominance creates stability and predictable opportunity. That's your reputation, kids. That's your reputation. Protect it at all costs, right? And the way that you dominate locally is because you're predictable, is because you're reliable, because you communicate well, because you do good organic. You kind of do it all well. You do it all well. Put yourself in the shoes or the seat of a homeowner who knows nothing about construction but is now searching because they've watched enough HGTV, they think they want to do a reno. Where do they start if they don't know anybody? Well, they're gonna go to the Googles and they're gonna go to the socials. That's the place. And then they might, if you're lucky, they end up on your website. Okay, so you'd want to have something good in the way of SEO, right, on your website, and you'd certainly want to have something in the way of some sort of testimonial from previous clients. Because if I've got information and I've got social proof, okay, and I'm not talking about you know, SEO being good pictures. Gosh, there's guys out there right now that have got great pictures with no text, and that's that's gonna really detract from their SEO, their search engine optimization, their capability for Google to connect search ease with your website because you're the authority, okay. Think about that, and that is, you know, it's hard to understand the whole digital marketing side of things. I get it. But local marketing dominance. Now, local market dominance doesn't come because I do a home show. I see enough guys at that home show who are in the construction sector that don't do it the way I do it, you know, and so you you've got to sort of so if I was starting out, I said, okay, and I've got clients, EBA clients, so I've got coaching builders, general contractors who are my clients, that I talk to about a home show. Because what we're trying to do is create another area of identification. So we've got people in this town that see us at the home show, they then go on, you know, Facebook or they go on Insta or then they go and you know check out our website, etc. etc. And all of a sudden, all of that puts together that that really that trust circle, whereby now, and then they go to the hockey and they see Smith and Son's, you know, 16-foot logos and there's a 16-foot rink board, okay, and they're like, okay, and then they see my truck getting around town because I've very well behaved as a driver when I've got decles on my vehicle, it's amazing. Just ask my wife. Um, it all changes the minute you put that logo on. Now I just become a different human. It's funny, but it's the truth. Um, and so all of a sudden you get this identification of got this. That's market dominance because what I said to uh the radio station last week in this town. Remember, I'm going for market dominance just like you are. Local market dominance. Um, I want people like when I ask you, which brand do you think of when I say the word hamburger? There's gonna be like three at the most, okay? Predominantly it's normally the golden arches, right? That's called branding, okay? That's called market dominance. So for you in your area, with all the other builders that are in your area, what you're trying to do is dominate the market at a higher level. Now, is is McDonald's as successful as AW as successful as Hungry Jack's? Um, I don't know what they call it in Canada here, I don't go to it. But anyway, like there's burger joints all over the place, and it doesn't mean that they all only one brand like McDonald's is successful. There is enough opportunity out there. Some people have bad experiences with McDonald's and want to go to AW or whatever. Okay, so what you've got to do is worry about you. Be the best you can be. Learn as much as you can about how branding and marketing improves your ability to dominate your local market. So that's that. Good reputation is important. That's the last thing here, you've heard me talk about this before teams and systems. It is what it is. I don't know what else to say. Wealth is built through people and processes, not individual effort. If it was that easy, we'd all just keep our all of our hats on and we'd do it all ourselves and we'd become multi-millionaires. Now, if you're in the tech world, some of that can function that way, can make it happen. But for us general contractors in a very heavy-duty service-oriented type business where we can only be in one place at one time, which is why Jed's out there doing construction and I work the administration side and sales side of the business, is because we divide and we conquer and it works really well, okay. Um clear values, expectations, and accountability drive performance. Okay, so you know when we're talking about teams and systems, you've heard me say before good businesses are run off the back of good systems, and good people run good systems. So we got people, we've got systems, and we got a successful biz. And that is just the way it works. Now I'm not saying that anyone is better than anyone else, but the ultimate goal is that people that come and work in our business, they want success in their life, right? You and I want success in our in our construction business. So the hinge point is systems, but it is people as well, okay? And so we've just, instead of going, all right, I just need you to download that concept in your brain and go, okay, I get it, I see this. There's people out there who are good. People would say to me in the industry, oh, there's no such thing as good people. Now, I am nobody special, I've just been in the game for over 30 years, but I'm the type of guy that's committed to helping somebody else first before I get what I want. And I'm just an I could be just an employee. Now I get you, I bet you there's a lot of guys and gals out there that have that attitude. But for every one of us, let's say, there's 10 knobs, okay? There's 10 knuckleheads that just want to clock in, do the least amount, get the paycheck, and they don't really care about the future, right? Now we've got to make sure that these folks in here, um, you know, make sure that they're being recognized. We work for a paycheck, but we die for recognition. So make sure there's something that rewards these people outside of financially when they deserve it, okay? Don't go give them participation trophies. That's garbage, it doesn't work. I've raised six kids, none of them get participation trophies. They work, they flex, they build it, they make it happen, they work hard, all of that. You and I got to do the same. Right, systems that are documented ensure smooth workflow and help identify reasons for inefficiency or failure. Right? That's what systems do. Systems will create a platform of accountability. Now, who's ever seen somebody who you can just feel that they don't enjoy being accountable? In other words, they don't have an ability to account for what they did. So, what do they do first? They deflect, they cast the blame, they make excuses. Those sorts of people, get off my island, not interested in having any kind of association with you. We've got no time for that. See, because remember, we're trying to get to the summit. We need people and systems to help us get to scale that summit, that to that summit. That's what we want to do in our business. So if we're going to create wealth from this business model, which is we know the odds are against us. I don't know what the odds are of making the summit when everyone's anyone starts at base camp and wants to then you know wants to climb Mount Everest, but there'll be a percentage of people that fail, and that failure rate will be quite high. Well, I think 50% is quite high as well in the building game. So, what are you doing differently today that's gonna ensure that you're still in the game in five years and love it? Furthermore, what what's gonna what's gonna guarantee that you're gonna be in the game for 10 years? See, what you what you know at the top, you learn at the bottom. See, it's what you're gonna learn here and now that's gonna create the foundation that by pushing the the the the you know the the weight right builds the muscle mass mass that then helps you go to the next level, get you to the next base camp, right? Guys, we've got it enough with the entitlement, okay? That's got to stop. Okay, transparency with king key with key team members builds trust and alignment. Okay, so we want to celebrate the wins and talk about where we maybe didn't win, right? We've got to have that element of transparency, otherwise it becomes of them and us. You know, I've just uh I've been watching a little bit of Gordon Ramsay lately, and there was one instance where he was trying to help this hotel owner, and he would have out the front of the hotel parked all of these wonderful motor cars, and yet everybody inside's working for bare minimum. Now, we don't know how well the business was going, but there was this, it was fairly, there was this polarizing view between people that were working in the restaurant and the hotel, and then the wealth that this guy had inherited, essentially. And so that guy had had a silver spoon jammed up his crack, and so he just thought it was like rosy and he didn't really care, had no empathy. Guys and gals, we have to empathize. Now, not everyone that we bring onto our team is going to be perfect, but transparency it helps both them and you, and hopefully the business in the long term. Uh, upper level key uh key team leaders need to understand the good, the bad, and the ugly. Okay, some of those will have it'll be subject to the information that you give them, okay? Somebody who's just started with your company is not going to have the same level of clearance that someone's been with your company for five years. It's completely different. And that's why there is a hierarchy. You know, that's why you have an apprentice and then you have a carpenter, and then you might have a lead hand, and then you'll have a foreman. Like these guys and gals have proven themselves over time that they are worth um get using or delivering more responsibility to. You pay them more, they give you more output. That's kind of how it's supposed to go. Where we get bothered is where we pay this and get this, right? So that straight away means that uh we're not maybe not recruiting well enough, or we've we should fire that person. Or educate, retrain, get to know the person, what's their goals? Spend a little bit of time, okay? All right, let's close this thing out. Uh, wealth isn't built by chance, it's built through structure, discipline, and leverage. That's called a business that is built by design, not by default. Okay, so we want to have this business. If we are going to have wealth creation, it's gonna be it's gonna happen based on design, not by default. People just think people that are entitled think it'll happen by default. We are smart business operators and we know that we must design the process going forward. Hope that helps, okay? I want you to go and build a kick-ass business for you and your family, make sure that you're looked after, look after your reputation, okay? Make sure that you understand the numbers within your business, make sure that you have some understanding around the power of both sort of organic and paid marketing, things like that, and then understand the power of building good teams because you can't do it by yourself, all right? Um, like and subscribe, all that kind of good stuff. Get across and hit me on email if you want to have a chat with me. Book a consultation, complimentary coaching session, no strings attached. Get after that, pick a spot, send me an email, maxelite businessadvisory.com, go and build a kick-ass business, and I will see you on the next episode. Cheers.