When Billd CCO Jesse Weissburg joined Dave Procida on the Elevate The Industry podcast, the pair discussed something every subcontractor needs to know: how to grow your business without digging yourself into a financial hole.
As part of his take on “Construction Finance 101”, Jesse talks about how subs can use financing to create more leverage with suppliers, while maintaining their brand and improving their relationships with GCs at the same time. And, as something that goes without saying, relationships in construction are everything.
Our biggest takeaway is regarding material purchases: finding ways to increase purchasing power can help subs take on twice as many projects as they normally could if they were relying solely on supplier terms or with cash.
“There will be a cost associated with financing, but you’re going to make it up in your profit margin because you’ll have the ability to take on a larger number of projects.” – Jesse Weissburg