Concrete Profitability with Nick Dancer

December 21, 2015

Concrete Profitability with Nick Dancer

Show Summary

Nick Dancer joins Mike Michalowicz, Chris Curran and Kristina Bolduc for Episode 59 of the Profit First Podcast! Nick talk about his experience with implementing the Profit First system in his business.

Our Guest

Nick Dancer began his work with concrete right out of high school working a summer job pouring concrete basements. In 2007 he started what is now known as Dancer Concrete Design. Initially creating custom architectural elements out of concrete such as countertops and furniture he found his true passion in changing the design of a space through concrete flooring. Nick has a vast portfolio including works installed on projects ranging from small residential to large commercial projects. His passion and love for concrete and his developing awareness of design encourages Nick to always find solution to various problems. Dancer Concrete Design works with clients who value open communication, quality workmanship, and good design and they hold themselves to a high level of accountability and look to serve. Nick and his team only complete projects that they can be proud of. Nick is also very involved in the decorative concrete industry by speaking at conferences and writing for various trade publications. Dancer Concrete + Design serves residential, commercial and industrial clients and has no limit on project size or concrete condition and welcomes the challenges that other contractors may turn away.

Show Quotes

Prior to Profit First, Nick tried to grow his business by forcing growth. He thought if he hired enough people growth would just come… but that didn’t work so well and they ran out of funds. They were a 10 person company and brought in a little less than $1 Million dollars in revenue; November and December were their weakest months. Nick sold his personal car to make payroll which was a wake-up call. They needed a systematized way to handle their bills and incoming receipts. That’s when Nick was introduced to Profit First… now they are a 14 person company and will do over $1 Million dollars in sales, and November and December have been their best months.

What we don’t like we push off until later; whatever get’s pushed off until later never gets done.

Start a tax account to prepare for taxes. Also consider setting up an extra account for “charitable giving” – if you’re involved in your community and someone asks for donations or sponsorship, you already have money budgeted for it. “When in doubt, set up another account.”

Staying disciplined with your accounts is crucial!