Per Diem Podcast
Jump in the front seat as the host Keaton Turner takes you on a daily ride through his life as if you were sitting right there in the action with him. The Per Diem Podcast is a daily dialogue of the good, the bad, and the ugly of building a business.
From the Edge of Failure to the Beginning of Success: Overcoming Financial Strain on a Path to Greatness
In this episode, Keaton Turner delves into a listener's struggles with a Tennessee rock quarry contract, highlighting financial strains from unpaid invoices and litigation. He discusses challenges with payroll, vendor payments, and dwindling savings, sharing personal stories of business hardships. Keaton emphasizes avoiding risky customers, understanding contract details, and knowing when to halt work. He explores monitoring customer payment reliability and avoiding unhealthy business relationships. The conversation includes steps to move forward, the importance of transparency, managing finances, and considering equity sales, while stressing self-awareness and resilience.
Key Points
- Pay close attention to the small details in contracts to avoid costly mistakes and ensure you have the necessary protections.
- Stop work immediately if a customer misses their first scheduled payment to prevent further financial loss.
- Being transparent with your team about financial struggles can build trust and help navigate through tough times together.
Chapters
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| 2:25 | |
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| 7:58 | |
| 12:20 | |
| 18:01 | |
| 26:05 | |
| 29:02 | |
| 33:03 | |
| 36:26 | |
| 39:48 | |
| 47:12 | |
| 53:33 | |
| 56:27 |
Transcript
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