Construction Accounting: Focusing On Adaptability & Critical Thinking Skills with Scott Franchini - Red Hammer

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Construction Accounting: Focusing On Adaptability & Critical Thinking Skills with Scott Franchini - Red Hammer

E106 • Oct 8, 2024 • 58 mins

Scott Franchini joins the episode to discuss his career journey and the growth of RedHammer from Hawaii to Arizona. He shares insights on managing outsourced teams and addressing client concerns about outsourcing. Scott highlights the use of Predictive Index in hiring and performance assessments, along with the importance of performance feedback and construction accounting processes. The conversation covers common mistakes in construction accounting, including the segregation of duties. Scott also discusses expanding into new markets and adjusting sales approaches.

Key Points

Building trust through understanding client problems and focusing on relationship-based sales can lead to more effective solutions and stronger client relationships.
The importance of segregation of duties and rigorous training in outsourced accounting to prevent fraud and ensure precision in construction accounting tasks.
Adapting to different market environments requires a combination of leveraging existing relationships, effective communication, and a tailored approach to client needs while maintaining core business values and practices.

Connect with - LinkedIn: https://www.linkedin.com/in/scottfranchini/ Website: https://www.redhammer.io/ Connect with Justin & Will - Will's LinkedIn: https://www.linkedin.com/in/willforet/ Justin's LinkedIn: https://www.linkedin.com/in/justneagle/ Learn More & Connect With Spot Migration - Website: https://www.spotmigration.com LinkedIn: https://www.linkedin.com/company/spot-migration Facebook: https://www.facebook.com/spotmigration Youtube: https://www.youtube.com/c/Spotmigration Do you want to be a guest on the show? Go to https://buildingscale.net/guests Need to discuss your IT and Cybersecurity Strategy? Go to https://buildingscale.net/help

Speakers

Scott Franchini

Guest • 82%

Will Foret

Host • 11%

Justin Neagle

Host • 7%

Chapters

0:00	Introduction and focus on problem statements
1:32	Guest introduction: Scott Franchini from Red Hammer
3:12	Scott's career journey and scaling Red Hammer
9:14	Outsourcing and client security concerns
13:20	Training and hiring philosophies in construction accounting
23:01	Interview process and personality assessments
30:28	Fundamentals and integration in construction accounting
36:37	Addressing common issues and preventing fraud
44:16	Starting a business in a new market and sales strategies
49:40	Relationship-based sales and client relationship fit
53:20	Service offering strategies and leadership advice
56:07	Conclusion and contact information
56:51	Closing remarks and mission statement

Transcript

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