In this episode of "Cracking the Cash Flow Code," host Josh Patrick interviews Robert Silano, an expert in MEP Consulting, about the biggest mistakes he has made in his 43 years in business and the lessons he has learned. Silano emphasizes the importance of having written contracts, managing risks and insurance, and focusing on profitability rather than just sales.
Key takeaways:
Trust is important, but it should be supported by written contracts to mitigate risks and ensure clarity. Understanding the financial aspects of the business, such as contracts and overhead, is crucial for profitability. Managing cash flow, including timely payments to suppliers, plays a vital role in a company's success.