11. Debtors system and reviewing average spend and average # of purchases

Written by Pete O'Keeffe

October 16, 2024

Unlocking the Secrets to Sustainable Success in Your Construction Business

You’ve built a successful construction business, and with that comes the thrill of pushing boundaries, testing your limits, and seeing just how far you can go. There’s immense satisfaction in what you’ve achieved so far—turning your vision into reality, watching your projects take shape, and creating something tangible from your hard work.

But now, as your business grows, so do the demands on your time. Days have become longer, and nights seem shorter. Your personal life and family time are slipping away, buried beneath the weight of daily operations, staffing issues, and constant demands. While revenue might be stable, profit margins are shrinking, and the overwhelming stress of keeping everything afloat is starting to take its toll.

The truth is, the strategies and tools that got you here may no longer be enough to take you where you want to go. The same approaches that fueled your initial success could be costing you more than you realize—in time, in stress, in chaos, and perhaps most importantly, in the strain they place on your relationships.

It’s time for a new approach. You need a system that allows you to grow your business without burning out—a method that ensures sustainable success, greater profitability, and gives you your life back.

That’s where my Leadership Newsletter comes in. Each week, I introduce simple yet powerful tools and strategies designed specifically to help you build your business systematically and profitably—without sacrificing your personal life in the process. You’ll learn how to streamline operations, get off-site more often, reclaim your time, and see more daylight than midnight hours.

Backed by solid research from fields like NLP, neuroscience, psychology, and physiology, my newsletter covers the three pillars of great leadership:

  • Vision: How to see the big picture and set clear, inspiring goals.
  • Velocity: Creating steady, sustained growth without burnout.
  • Value: Delivering exceptional service and products to clients, ensuring their satisfaction and loyalty.

Each edition follows the journey of “Tony,” my fictional construction business owner who faces real-world challenges just like you. Through Tony’s story, I explore the pitfalls, setbacks, and victories that every business owner encounters. His challenges might mirror some of the obstacles you’re dealing with right now—and his successes can be yours too.

Ready to transform the way you lead your business? Sign up today and discover the tools that will help you grow with less stress, more profit, and more time for what really matters.

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  1. Debtors system and reviewing average spend and average # of purchases

 

Steve arrived right on time, as always, carrying his signature packet of chocolate biscuits, the sweet comfort he often brought to intense business discussions. Tony and Jayne were ready. Tony had a sheet of paper in hand—numbers he and Jayne had been meticulously working on, both hopeful and a little anxious to present their findings.

With a flick of the wrist, Tony laid out the sheet in front of Steve. The numbers were plain to see, but Steve’s keen eyes scrutinized them with precision. Average spend: £29,357. Average number of purchases: still 1. Steve’s brow furrowed slightly, but before he could utter a word, Tony raised his hand in a gesture of pause.

“Before you say anything, Steve,” Tony began, voice steady, “Jayne and I have been at this. We’ve already figured out how to boost that average spend.”

Jayne, smiling with a hint of pride, chimed in, “In fact, we’ve taken your Profit Maximiser sheet from last week and started putting three of your suggestions into action. And guess what? We’ve already had a client ask for a better quality shower in their new build—that’s going to give us an extra 27%!”

Steve leaned back, an approving smile spreading across his face. “I was going to congratulate you for nailing K.Y.N.—‘Knowing Your Numbers.’ You’ve increased your average spend by £3,357, but with this news—well, that’s a double whammy! Brilliant work, both of you. This is exactly what helps the bottom line, isn’t it?”

Tony and Jayne grinned in response. The hard work was paying off, and Steve’s recognition felt like fuel for the next steps.

But Steve’s demeanor shifted, becoming more serious. “Now the important part—keep working those numbers. Every week. Consistency is key,” he said with a resolute nod. “Now, let’s tackle another area. Your debtors—how much are you owed over 30 days?”

Tony and Jayne exchanged glances, the air thick with hesitation. Tony’s voice dropped slightly, “£121,000.”

Steve’s eyes widened slightly, but his tone remained steady, “Wow. And how much of that is 60+ days?”

Tony shifted uncomfortably in his seat, his voice nearly a whisper, “Most of it.”

“How much is ‘most of it,’ Tony?” Steve pressed.

“Uh… £98,000,” Tony admitted, eyes downcast.

“Great,” said Steve, unexpectedly upbeat. “Now we know what we’re dealing with! Again, it’s about knowing your numbers and facing the facts head-on. So, let’s get to it and start getting that money into your account, shall we?”

With that, Steve dove into his proven Debtors system, laying out a step-by-step process for Tony and Jayne to follow—firm, fair, and friendly. The system was simple, but it was effective, and it made immediate sense to them.

Jayne was particularly struck by how balanced the approach was. “Firm, fair, and friendly,” she repeated with a smile. “I can do that.”

“Exactly,” Steve replied. “Tony, you keep working those numbers. And Jayne, now that you’ve got the process down, start reaching out. Send emails, make calls, and begin with the most recent debtors. Work your way through the list.”

The energy in the room shifted as Tony and Jayne absorbed Steve’s instructions, determination sparking in their eyes. As Steve gathered his things and prepared to leave, he heard the unmistakable sound of the phone being picked up. Jayne was already diving into the Debtors process.

Steve smiled to himself as he closed the door behind him. Action was already in motion.

Action Step: Are you owed money? Let’s talk. I can show you how to recover what’s yours using my firm, fair, and friendly Debtors system. Let’s get your money flowing back into your business where it belongs.

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Success in the construction industry isn’t just about working harder; it’s about working smarter. The road ahead may be challenging, but with the right mindset, a creative approach, and a well-defined strategy, it’s a journey that leads to incredible rewards.

If you recognize yourself in Tony’s story and are ready to transform your business—whether it’s tightening operations, reducing costs, or optimizing project timelines—let’s talk. Book a call with me today, and let’s see how I can help you create a more efficient and profitable future for your construction business.

Contact me:

  • Email: petersokeeffe@gmail.com
  • Phone: +44 7468 339 450

Together, we can identify your weak links and build a business that not only survives—but thrives for years to come.

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An action step you can take today:

Are you owed money? Let’s talk. I can show you how to recover what’s yours using my firm, fair, and friendly Debtors system. Let’s get your money flowing back into your business where it belongs.

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I’m Pete O’Keeffe – The Peak Performance Business Coaching Specialist.

I’ve run my own businesses and along with my wife Janelle, we coach and mentor Construction Business owners in the UK, USA, and New Zealand. We Coach Across Continents.

We are currently driving home – Overland – to NZ. Our journey kicked off in April 2024 and we expect to be home possibly the end of 2025. However, the allure of new places keeps us turning left or right, adding unexpected detours and extending our adventure. What makes this odyssey possible? We’ve structured our business in a way that allows us to Coach Across Continents. That’s right—we’re able to coach our clients from wherever we are, whether we’re overlooking mountain ranges, exploring hidden beaches, or navigating bustling city streets

If you’re ready to advance your business please watch this quick video (2:40) on how I can help you and your business….

I’m the creator of the “7 Step Business Growth Roadmap” my system to help you fast-track your business to make even more money, have more time freedom, and have a business that can effectively work without you.

Take my free test to see where your business rates…

I am the author of “Family Matters, So Does Business. 5 Ways To Keep Your Family & Business Flying.” It was a #1 best seller on Amazon in March 2020. Order your copy here.

P.S. If you have missed the previous 10 parts of Tony’s story then you can find them in the features section of my LinkedIn profile https://www.linkedin.com/in/pete-okeeffe-business-leadership-training/

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