Shayne Glass

speaker

667 appearances 2 recordings 1 series first heard Mar 2025 last heard Apr 2025

Shayne Glass’s voice in public audio — every appearance, attributed to the second.

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Builders, Budgets, and Beers · Bonding and Tight Financials for Construction Businesses with Shayne Glass · 5 Mar 2025 podcast

Now, you've got to understand it well enough to know how it should be mapping and how it should be set up and costing.

But yeah, so if you can get those inputs under control and know where and how you're making money, the rest of it just starts to fall into place, I think, from an accounting perspective.

And a business perspective.

Right.

So if we were, if we did not have a great relationship, if we, if we rewind probably six, seven years,

or not even great, but new relationship with a bonding company, which we've been bonded for a long time, but, but our financial strength has really hit over the past six years.

So I'll answer that question in two ways.

If we rewind 10 years, the bonding company is really closely looking at cash.

They care a lot about cash, how much cash you have on hand, because they want to take your cash if you don't perform.

So that's the very first thing they're going to do.

So they want to have cash.

They want their,

They want to know what's going on with your jobs.

They want to know how much you have bonded at any point in time, which they're going to know that already.

And then they're going to look at your WIP report pretty regularly.

But you have to have a WIP report and you have to have an accurate.

So at this point, if we fast forward 10 years to where we are today, they look at pretty much nothing other than if we have a huge project that's maybe a little beyond something we've done in the past.

Then they're like, hey, can you get us some internal numbers?

Unless they knew the review's ready, then we'll send them the financial review.

So that's a really big relationship thing with a bonding company that could be all over the board.

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