In this episode of the Construction Disruption podcast, host Todd Miller and co-host Ethan Young sit down with Timothy Wingate Jr., founder of G+F Business and Financial Consulting, to discuss the financial struggles commonly faced by construction companies. Timothy shares his journey from working in the field with his father to founding a company that helps construction businesses manage their finances, improve cash flow, and understand the importance of project management software.
He also shares his company's unique approach of focusing on construction-specific accounting and offers advice for new business owners. Whether you're a seasoned professional or just starting in the construction industry, Timothy’s insights provide valuable guidance for maintaining financial health and achieving long-term success.
Timestamps
01:43 Meet Our Guest: Timothy Wingate Jr.
02:42 Timothy's Journey in Construction and Finance
07:08 Challenges Faced by Construction Companies
11:19 Specialized Accounting for Construction
13:52 Virtual Accounting and Client Relationships
17:27 Setting Profit Margins and Business Goals
20:57 Choosing the Right Tech for Construction Companies
22:38 Choosing the Right Project Management Software
24:11 The Importance of Trust in Implementation
26:34 Advice for Newcomers in the Construction Industry
28:25 Balancing Costs and Growth
29:28 The Emotional Cost of Starting a Business
30:15 Consulting and Long-Term Relationships
31:12 Rapid Fire Questions
35:19 Closing Thoughts and Contact Information
Connect with Timothy Online
Website: https://www.gplusf.com/
LinkedIn: https://www.linkedin.com/in/twingatejr/
For more Construction Disruption, listen on Apple Podcasts or YouTube
Connect with us on Facebook, Instagram, or LinkedIn
This episode was produced by Isaiah Industries, Inc.
Construction Disruption was recently featured in this 15 Best Podcasts for Contractors list!
This podcast uses the following third-party services for analysis:
Podtrac - https://analytics.podtrac.com/privacy-policy-gdrp
Chartable - https://chartable.com/privacy
Welcome to the Construction Disruption Podcast, where we
Intro:uncover the future of design, building, and remodeling.
Todd Miller:I'm Todd Miller, Vizay Industries manufacturer of specialty metal
Todd Miller:roofing and other building materials.
Todd Miller:Today, my co host is Ethan Young.
Todd Miller:Mr.
Todd Miller:Young, how are you?
Ethan Young:I'm doing good, Todd.
Ethan Young:It's a holiday weekend.
Ethan Young:Excited to be here with you and getting, you know, excited
Ethan Young:to wrap up this weekend well.
Ethan Young:This week.
Ethan Young:Well, I should say that's true.
Todd Miller:I wonder if someday you'll be called old.
Todd Miller:Mr.
Todd Miller:Young, you know,
Ethan Young:forever young, you know,
Todd Miller:forever young.
Todd Miller:That's good.
Todd Miller:That's a good one.
Todd Miller:Okay.
Todd Miller:Well, let's go into things.
Todd Miller:I do want to mention.
Todd Miller:We are once again, this episode doing our challenge words were
Todd Miller:both Ethan and myself and also our soon to be announced mystery guest.
Todd Miller:Uh, we each have a word that we have been challenged to
Todd Miller:work into the conversation is.
Todd Miller:Seamlessly as possible, you, the audience, can be listening for any unusual words
Todd Miller:we might use, and perhaps you'll figure out what our challenge words were.
Todd Miller:And at the end, we will tell you whether we were each successful
Todd Miller:at working in our word or not.
Todd Miller:So, um, let's go ahead and get this thing started.
Todd Miller:So, um, one thing that many construction companies struggle with is bridging
Todd Miller:that gap between their work in the field, um, which oftentimes
Todd Miller:they are really, really good at.
Todd Miller:But then also their financial tracking, their reports, and even their results.
Todd Miller:And unfortunately, of course, if they do have difficulties bridging that gap,
Todd Miller:they end up struggling to make ends meet.
Todd Miller:Um, today's guest is Timothy Wingate Jr.
Todd Miller:Um, Timothy is the founder of G plus F business and financial
Todd Miller:consulting, uh, based in beautiful West Palm beach, Florida.
Todd Miller:Timothy founded G plus F in 2016 to provide specialized accounting
Todd Miller:and tax services specifically for construction companies.
Todd Miller:Timothy provides his clients with tools, advice, and financial advice, uh, so
Todd Miller:that they know better or so that they can better understand their finances
Todd Miller:and they can improve their cashflow.
Todd Miller:With a bachelor's degree in business administration from the University
Todd Miller:of South Florida, Timothy is also a member of the Construction
Todd Miller:Financial Management Association.
Todd Miller:Timothy, welcome to Construction Disruption.
Todd Miller:Pleasure to have you here today.
Todd Miller:Timothy Wingate Jr.: Ah, thank you for having me.
Todd Miller:I feel blessed to be here and Just glad to be on the show.
Todd Miller:I can share what I have.
Todd Miller:Well, that's what we're looking forward to.
Todd Miller:So, um, you had your start in construction, uh, working for many
Todd Miller:years with your father, um, who was a licensed general contractor.
Todd Miller:I, now I got started in this industry also.
Todd Miller:Uh, you then went on to work in banking, uh, nonprofit management
Todd Miller:and also real estate investing.
Todd Miller:Kind of curious, what is it about?
Todd Miller:All of those experiences, because a lot of stuff there, uh, that
Todd Miller:made you want to help constructions the way that you're able to today.
Todd Miller:Timothy Wingate Jr.: You know, growing up with my father, I start with him.
Todd Miller:You know, he raised us in the field.
Todd Miller:So in bright, sunny Florida, sweating in the sun,
Todd Miller:you know,
Todd Miller:Timothy Wingate Jr.: carrying a wheelbarrow and dumping dirt.
Todd Miller:So definitely had my fair share of working out there in the field and just really
Todd Miller:got a true understanding of what it means to work hard and most construction owners
Todd Miller:or people who work in the construction industry, they are very, very hard
Todd Miller:workers and I respected that, but.
Todd Miller:I also found out that they didn't like working in the office.
Todd Miller:And so a lot of paperwork was spread out across my father's desk all the time,
Todd Miller:plans, bills, papers, you know, all these different things and just never saw.
Todd Miller:Office, you know, organized and, and I, at the time I didn't know
Todd Miller:if he was getting things done timely in a timely fashion or not.
Todd Miller:But, um, when I became of age, come to find out that he needed
Todd Miller:a lot of help in the office.
Todd Miller:This sounds just like my dad.
Todd Miller:I gotta tell you.
Todd Miller:Okay.
Todd Miller:Timothy Wingate Jr.: Yeah.
Todd Miller:So that was really, um, where I just had my exposure to the construction
Todd Miller:industry, but then I had a love for just, Helping small business owners,
Todd Miller:because working with the nonprofit organization there, I was helping
Todd Miller:my grandmother run her organization.
Todd Miller:And so seeing the struggles that she had within the organization when it
Todd Miller:came to, you know, not having proper accounting, not having any systems
Todd Miller:in place on how to manage employees or how to hire, how to recruit, you
Todd Miller:know, do all these different things.
Todd Miller:And so to bring all of that and to gain that experience.
Todd Miller:Uh, of how to do that.
Todd Miller:I seen that, Hey, this is something that all small businesses need.
Todd Miller:And I said, I want to make sure that I can be a part of the solution.
Todd Miller:So starting G plus F.
Todd Miller:Was part of the solution of being able to come out here and help
Todd Miller:small business owners altogether.
Todd Miller:Very cool.
Todd Miller:So I also understand that, uh, the name G plus F was chosen very intentionally
Todd Miller:and has very special meaning.
Todd Miller:Uh, can you tell us what that is?
Todd Miller:Timothy Wingate Jr.: Yeah, it means God plus family.
Todd Miller:Because when I left the nonprofit organization and it started G plus
Todd Miller:F, well, I'll say, you know, let me give you the in between that.
Todd Miller:So when I left the nonprofit organization, I didn't know what I was going to do.
Todd Miller:And I say, you know, um, I know I want to help small business owners,
Todd Miller:but in what way can I help them?
Todd Miller:And I went back to my.
Todd Miller:The roots of what I was able to do for my grandmother's organization, which is
Todd Miller:bring financial structure to a company.
Todd Miller:And so I said, well, let me just because I didn't go the
Todd Miller:traditional accounting route.
Todd Miller:You know, I got my degree in finance.
Todd Miller:So I said, let me go ahead and understand this accounting at a higher level.
Todd Miller:And I went out and got my enrolled agent license.
Todd Miller:And so that gave me the tax knowledge that I needed to help people get out of tax
Todd Miller:problems and to help them get in a better tax position or understand what their tax
Todd Miller:position will be at the end of the year.
Todd Miller:And so G plus F was given to me as the name, because it says when you go
Todd Miller:through what you're getting ready to go through, you're, you're only going to be
Todd Miller:able to depend on God and your family.
Todd Miller:And so that's where G plus F came from, God plus family.
Todd Miller:And it has been carrying me through ever since.
Todd Miller:Wow.
Todd Miller:That's very cool.
Todd Miller:And I understand that, you know, faith, your, your life revolves around it.
Todd Miller:And so you reflect that in your business and, uh, That just makes a lot of sense.
Todd Miller:And yeah, kind of what we try to do here at Isaiah Industries too.
Todd Miller:So I love that.
Todd Miller:Absolutely.
Todd Miller:Love it too.
Todd Miller:I'm kind of curious, um, in what areas do you find that many owners
Todd Miller:of construction businesses really don't understand their businesses?
Todd Miller:And, you know, I think a lot of times we find that.
Todd Miller:These are folks who, you know, became, uh, really good at doing things out
Todd Miller:in the field and eventually got a, uh, their own crew or a nicer truck
Todd Miller:or whatever they thought it was that made them start their own business.
Todd Miller:But, you know, what, what are some of the things that you find they, they
Todd Miller:kind of struggle with once they make that jump into their own business?
Todd Miller:Timothy Wingate Jr.: Yeah, a lot of times they, they struggle with,
Todd Miller:it's like three things, you know, number one, cashflow management.
Todd Miller:Yeah.
Todd Miller:Number two, estimating.
Todd Miller:And then number three, managing the accounts payable process.
Todd Miller:So a lot of times cash is a constant worry.
Todd Miller:And to know that, you know, money's coming in at the right time, at
Todd Miller:the right speed, um, it, it usually starts with what happens up front.
Todd Miller:So setting the tone with the, with the client and the customer, with your
Todd Miller:And also setting the tone with the subcontractors as well, um, to let them
Todd Miller:know, and everybody needs to be on the same page, know how they're going to get
Todd Miller:paid, when they're going to get paid.
Todd Miller:Like you gotta have a lot of conversation around getting paid.
Todd Miller:You know, and paying out in the very beginning and make sure that it's clear.
Todd Miller:And so a lot of them, they just don't do that.
Todd Miller:They, you know, some of these guys are still doing handshake deals.
Todd Miller:Um, and that kind of can blow up in their face a little bit at the end.
Todd Miller:Cause it's a friend, they don't want to offend them and, you know, all these
Todd Miller:different things and, or they end up doing more work for them than they should have,
Todd Miller:because they actually don't realize that they're actually paying workers to go
Todd Miller:do this work for a friend for free, but.
Todd Miller:You know, you're basically financing that whole, that whole, uh, project
Todd Miller:or that part of the project.
Todd Miller:So teaching them how to, um, So, yeah, so they usually just have problems managing
Todd Miller:those three specific areas, you know, cash management, estimating, and the
Todd Miller:accounts payable process can get out of hand quickly, especially when the same
Todd Miller:vendor is sending reminder invoices.
Todd Miller:So those reminder invoices can sometimes get double paid.
Todd Miller:Right.
Todd Miller:Yep.
Todd Miller:Timothy Wingate Jr.: And that becomes a problem.
Todd Miller:Now you're trying to, you know, get a credit and now you're trying
Todd Miller:to, or you, you can't get a credit.
Todd Miller:So you're trying to sell off material to another job, you know, so it just,
Todd Miller:a lot of different things can happen.
Todd Miller:With the accounts preamble process, it's not managed properly.
Todd Miller:And then with the estimating, of course, estimating is there for historical data.
Todd Miller:So estimating gets better as you keep track of it and analyze it at the
Todd Miller:end of these job to see how well you did and how your margins pan out.
Todd Miller:And so just, uh, A lot of, you know, construction, um, owners or, you know,
Todd Miller:project managers are just not used to managing that process in a very
Todd Miller:efficient manner where they can analyze it properly at the end of the job.
Todd Miller:You know, that's interesting.
Todd Miller:I, I, I can't say how many times over the years I've been working with a
Todd Miller:contractor who, you know, already has the contract to do a metal roof and
Todd Miller:he comes to us and is asking us to, to help him kind of detail things out.
Todd Miller:And, you know, my question is, What does the contract say?
Todd Miller:What do you, what did you commit to doing here?
Todd Miller:And honestly, they don't know.
Todd Miller:Um, and I'm just like pretty shocked by that.
Todd Miller:Well, I mean, a contractor out there, a construction company, they have
Todd Miller:tons of options as far as CPAs and accountants and bookkeeper options and
Todd Miller:their sister in law and everything else.
Todd Miller:You know, how, how is it that you feel?
Todd Miller:You focusing just on construction companies can help them more than that
Todd Miller:CPA down, down the street or their sister in law who keeps books, uh, can.
Todd Miller:Timothy Wingate Jr.: Well, I'll tell you this, you know, there's three areas of
Todd Miller:accounting that are very specialized.
Todd Miller:We've mentioned all of them on the show today, construction,
Todd Miller:accounting, manufacturing, accounting, and nonprofit accounting.
Todd Miller:Very, very different because there's a lot of moving pieces, you know,
Todd Miller:in construction, you're managing multiple jobs and keeping track
Todd Miller:of multiple jobs and tracking the profitability of multiple jobs.
Todd Miller:You know, in manufacturing, you're keeping it together with the raw materials.
Todd Miller:Finished materials, and then with the product sales tax,
Todd Miller:all those different things.
Todd Miller:And then nonprofit, you have all these different grants and things that
Todd Miller:you need to satisfy with, you know, reporting the report just on their grant,
Todd Miller:you
Todd Miller:Timothy Wingate Jr.: know, and, and then you have one system to do that.
Todd Miller:Right.
Todd Miller:So what makes it different or unique in the way that I approach accounting
Todd Miller:versus a traditional accounting is that I have specialized knowledge.
Todd Miller:Um, so I understand, you know, there's a ton of systems out there like this.
Todd Miller:You know, a bunch of project management softwares out there,
Todd Miller:job trip, pro core, build a trend.
Todd Miller:I mean, the list goes on, but what we've done is we pick one to master, you know,
Todd Miller:and we, so we know what project management system that we use is going to integrate
Todd Miller:well with your accounting system.
Todd Miller:Also is going to integrate well with your accounts payable system.
Todd Miller:And then it's going to integrate well with your accounts receivable system.
Todd Miller:So like all these things.
Todd Miller:We know how to set those up and make sure that the information
Todd Miller:flows through all systems properly.
Todd Miller:And so that information is reported properly to you to make
Todd Miller:higher level decisions about a job or the company at large.
Todd Miller:So that is what we do.
Todd Miller:You know, we come to bring organization to your back office.
Todd Miller:We come to clear paper.
Todd Miller:Offer your desk, you know, and make it
Todd Miller:organized.
Todd Miller:Ethan will probably tell you that I could perhaps use your help.
Ethan Young:Yeah.
Ethan Young:I was thinking about that a little bit, but I think it's usually something that's
Ethan Young:better than normal, but I don't know.
Ethan Young:Timothy Wingate Jr.: Now we'll say we don't do that in person.
Ethan Young:We're, we're completely virtual accounting firm, but the, we've have
Ethan Young:perfected, you know, the process and how we onboard and how we do things.
Ethan Young:It's a learning curve for.
Ethan Young:Um, most construction owners when they come with us, but they never go back
Ethan Young:to the papers scrambled on the desk.
Todd Miller:Amen.
Todd Miller:Good stuff.
Todd Miller:Well, I was, I was going to ask you, I mean, I assume you do have, since
Todd Miller:everything is virtual, you probably have clients all over the country.
Todd Miller:I assume.
Todd Miller:Timothy Wingate Jr.: I do.
Todd Miller:Yeah.
Todd Miller:We have some clients in Wisconsin, Colorado, North Carolina.
Todd Miller:You know, uh, just to name a few, Arizona.
Todd Miller:Yeah.
Todd Miller:So they are kind of all over and it's, it's, it's really unique.
Todd Miller:So I definitely am able to share a unique, I guess, a, a unique perspective, you
Todd Miller:know, to the construct, construction industry, to any of my clients, because
Todd Miller:sometimes they're wondering like, what, what are the other guys doing?
Todd Miller:You know, and I can tell them what's working and what's not.
Todd Miller:So what does that relationship look like?
Todd Miller:I mean, do you have weekly calls?
Todd Miller:They're sitting there in their office, sipping on their coconut water and you're
Todd Miller:helping them out or what, what does that relationship typically look like?
Todd Miller:Timothy Wingate Jr.: Now they're not sipping coconut water and eating flapjacks
Todd Miller:and doing the other kind of thing.
Todd Miller:But they, they, um, They're definitely what it looks like is we have to
Todd Miller:meet with a construction company every week or every two weeks.
Todd Miller:So they're meeting with someone from our team every week and it's usually to
Todd Miller:discuss everything accounts receivable and accounts payable, because those
Todd Miller:are the most fluid things that are moving, um, in a construction company.
Todd Miller:And then they choose to meet with me either monthly, bimonthly, quarterly,
Todd Miller:at, um, at, at the least to discuss.
Todd Miller:All things strategic, you know, strategy.
Todd Miller:Hey, I want to buy a house, a car, a building, you know, I
Todd Miller:want to hire a new employee.
Todd Miller:I want to pay someone commission.
Todd Miller:I want to find a new estimator.
Todd Miller:How much is it going to cost me?
Todd Miller:Is it the right time?
Todd Miller:Um, does it make sense?
Todd Miller:You know, so all those things, Hey, this last job, you know, these things went
Todd Miller:wrong and I helped them to strategically think about the job because when you're
Todd Miller:in it, you think a different way.
Todd Miller:When someone's on the outside looking in, they bring a
Todd Miller:totally different perspective.
Todd Miller:And so that's what I do.
Todd Miller:I help them think about the jobs differently and what happened,
Todd Miller:because a lot of times what you see in the numbers is just didn't
Todd Miller:happen from a financial standpoint.
Todd Miller:Like it, it wasn't.
Todd Miller:Just an estimating problem or a, um, accounts payable problem or whatever
Todd Miller:it is, it may be something operational.
Todd Miller:It may be saying that, hey, it took Tommy 10, 10 hours longer to do this part of the
Todd Miller:project than Billy, who would have done it in 5 hours, you know, and that's where.
Todd Miller:You lost money or that's where the margins have changed.
Todd Miller:So it's just looking at those different things all the time.
Ethan Young:I would guess most people like new prospective clients come to
Ethan Young:you, like in a time of like struggle, it's probably not, it's kind of the
Ethan Young:opposite of a fair weather friend.
Ethan Young:You know, they want you around when things are really going
Ethan Young:bad, not the other way around.
Ethan Young:Is that, is that true?
Ethan Young:Timothy Wingate Jr.: Most time it is because we're, we're best suited for.
Ethan Young:Someone who's kind of bumped their head a little bit.
Ethan Young:We're not really suited for the startup construction company.
Ethan Young:Definitely, you know, they may have found a way to, to reach
Ethan Young:their first million already.
Ethan Young:And now they're, they're just on the overload.
Ethan Young:Like it's, it's getting out of control, you know, because the jobs are moving
Ethan Young:quickly, they have more people on the team and they've, you know, found a way to
Ethan Young:make it that far, but now they need some help bringing some organization around
Ethan Young:the company to really streamline and grow.
Ethan Young:Uh, at a better rate with a lot more peace.
Todd Miller:I like that.
Todd Miller:Like the piece.
Todd Miller:Well, I think one thing I have seen a lot of construction companies struggle
Todd Miller:with is how to set their profit margin.
Todd Miller:I mean, uh, you kind of go into this and you think, well, as long as I sell
Todd Miller:anything above what I know my cost is going to be, I'm going to work.
Todd Miller:It's all going to work out.
Todd Miller:And that just isn't necessarily the case.
Todd Miller:Um, so any advice for, Listeners out there who may be thinking
Todd Miller:about, well, how do I decide what my optimal profit margin should be?
Todd Miller:Timothy Wingate Jr.: Yeah.
Todd Miller:So this is going to sound maybe way left, but I'm a different accountant,
Todd Miller:you know, from when you think about profit margin, you have to think
Todd Miller:about your operation, profit margin.
Todd Miller:As well, and then you also need to think about what type of company you want to
Todd Miller:be, because it really starts with the big picture, which is what type of company
Todd Miller:I want to be, because I may want to make sure that all my employees get 10 days
Todd Miller:paid time off every year, the construction company down the street may not want that.
Todd Miller:They don't care if the guys get one day or two days.
Todd Miller:You know, I may wanna offer my guys a 401k company down the street.
Todd Miller:May not think that way.
Todd Miller:So what I'm getting getting at is if I'm construction company A, who wants
Todd Miller:the 401k and want to give the guys PTO versus construction company B, then
Todd Miller:my margins on the job needs to support my operating margin, which will then
Todd Miller:support the growth of my company and allow me to provide those things.
Todd Miller:To my employees.
Todd Miller:So I need to think about setting my prices based on where I want to go.
Todd Miller:And that is different.
Todd Miller:It sounds like, well, it may be like Tim, well, how, how do we, how do we do that?
Todd Miller:And, or where do we start and all those things?
Todd Miller:Well, I always say there's, there's, you know, I forgot who the author was,
Todd Miller:but there's a book, I think that's titled start with the end in mind.
Todd Miller:Okay.
Todd Miller:You know, and if you don't know where you're going, you would just go anywhere,
Todd Miller:you know, and it definitely ties down to the Bible where you should plan,
Todd Miller:you know, um, how are you going to build before you actually build it.
Todd Miller:It's the same thing with a company, you know, so I have to think about
Todd Miller:where I want the company to end up.
Todd Miller:You know, do I eventually want to sell it one day?
Todd Miller:Do I want to pass it to my kids one day?
Todd Miller:Do I want to give it to the employees one day?
Todd Miller:Well, they don't want anything that's not profitable.
Todd Miller:And they don't want anything that's going to cause a burden.
Todd Miller:And so you got to set it up in a way where anyone is excited to take it on.
Todd Miller:And anyone is excited to work, work there as well.
Todd Miller:So profit margin is.
Todd Miller:Is is is something that you really have to sit down and think about and you
Todd Miller:think about that first, and then you go all the way back to your estimates.
Todd Miller:And then now you're not going to care if a customer disagrees with you with
Todd Miller:your price, because, you know, it needs to be that price for me to offer.
Todd Miller:What I want to offer to my employees and to everybody who works here.
Todd Miller:You know, it, it just takes a lot of pressure off of everything.
Todd Miller:Um, when you know what that price has to be in and from a selling
Todd Miller:standpoint, it allows you to build your, uh, your value, uh, around that.
Todd Miller:And so it makes a lot of sense.
Todd Miller:Yeah, absolutely.
Todd Miller:You you, you alluded earlier to project management software and
Todd Miller:you said that you have one that you like to see your clients on it.
Todd Miller:You know, one of the things I see in construction, especially
Todd Miller:in recent years, every time you turn around, there's a new app.
Todd Miller:There's a new software platform for construction companies to use to to to.
Todd Miller:Track their numbers, report their numbers, help with communication,
Todd Miller:help with bidding jobs, help with planning, all that type of things.
Todd Miller:Um, I know you mentioned project management software that you folks
Todd Miller:recommend, but in general, um, what advice do you have for construction companies in
Todd Miller:determining what tech is right for them?
Todd Miller:Um, you know, not everything that glitters is gold necessarily.
Todd Miller:They, you gotta know what to chase.
Todd Miller:Timothy Wingate Jr.: Yeah.
Todd Miller:So the first thing that you, you have to consider is there needs to be an
Todd Miller:implementer, you know what I mean?
Todd Miller:Within the company or who's hired from with outside of the company, because tech
Todd Miller:is complex and there's a learning curve.
Todd Miller:It's going to be challenges.
Todd Miller:But what helps you get through it and see it to the end is the implementer
Todd Miller:being very strong, you know?
Todd Miller:So when they're strong, they can kind of carry and motivate everybody
Todd Miller:and keep everybody, you know, um, from pulling their hat out
Intro:and
Intro:Timothy Wingate Jr.: saying, why did we just, can we just go back
Intro:to Excel spreadsheets and paper and write down estimates, like.
Intro:You're going to constantly fight that, but the implementer is going to be able to
Intro:hold you, hold you to the ground and make sure that we, we, we see it to the end.
Intro:And so I will say this, there's a ton of project management software out there.
Intro:Like I mentioned before, and I was go as far to say that all of them
Intro:work because they have customers.
Intro:So, and so it's all about.
Intro:Identifying whether the implementer, the implementer really understands
Intro:what the software can do.
Intro:And if it's a good fit for your operation, and so, because.
Intro:Because I understand one project management software very, very well.
Intro:And I'm, you know, an outside accounting firm.
Intro:I'm really not going to work with a client who I can't serve with that software.
Intro:So that's kind of where, and I have done that because there's, there's been a, um,
Intro:a client who works, who puts down pipe in the ground, you know, for utility, utility
Intro:companies and those types of things.
Intro:Well, they need, they need to be able to calculate dirt and gravel and,
Intro:you know, and all these different things that are, you know, all project
Intro:management softwares won't be able to do.
Intro:And so you need a very specialized project management software
Intro:for that particular operation.
Intro:And that's kind of where the implementer has to be an expert
Intro:and say, you know, what that is.
Intro:A good fit for us, or this is, this is not.
Intro:And then, cause you gotta think about it.
Intro:As long as you have trust in the implementer, you know,
Intro:that is, he understands it, or she understands it very well.
Intro:So.
Intro:It's going to work.
Intro:It's just, we're going to have to catch up, but they're going to hold our hand.
Intro:They're going to make sure that we obtain the knowledge that we need to obtain.
Intro:So that way we can move forward with this, with this software.
Intro:So if you, as the owner are saying that you're going to be the implementer,
Intro:well, then you need to go out and study these, these different softwares,
Intro:like I did, and take demo classes and take certifications and test the
Intro:software out, buy a subscription.
Intro:Test it out, do a test project, all those different things.
Intro:In order to know if it's going to work, you're not going to know it's
Intro:going to work just by hearing about it.
Intro:I can tell you that.
Todd Miller:Yeah.
Todd Miller:And the people selling it are always quick to tell you, oh, it's
Todd Miller:going to do all that and more.
Todd Miller:Yeah, that's good advice.
Todd Miller:That's good advice.
Todd Miller:You know, one of the things I can tell about you is that.
Todd Miller:You really love this industry and you, you know, you love serving folks
Todd Miller:in serving folks in general, but in particular in the construction
Todd Miller:industry, I'm just kind of curious.
Todd Miller:Is there anything specifically about the construction industry that you
Todd Miller:really, um, love being a part of?
Todd Miller:Timothy Wingate Jr.: I love being a part of that aha moment because I
Todd Miller:get it with every, every new client.
Todd Miller:It's that moment where it's like, man, I'm no longer doing this.
Todd Miller:That used to take me 15 hours a week to do, you know, or five hours a week to do.
Todd Miller:And it's like, man, I'm so glad we made the change.
Todd Miller:I just like hearing that.
Todd Miller:Like, I'm just so glad we made the change and that's always a blessing to me.
Todd Miller:Good stuff.
Todd Miller:Well, I'm sure that, uh, You have, uh, your clients are
Todd Miller:greatly blessed by that as well.
Todd Miller:I'm, I'm kind of curious, are, are most of your clients
Todd Miller:fairly long term relationships?
Todd Miller:Or do you find that, you know, you spend a year or so with them and kind of get
Todd Miller:them to the point of where, uh, they're comfortable going on, on their own?
Todd Miller:Or what's that usually look like?
Todd Miller:Timothy Wingate Jr.: We're long term, you know, I That's what I figured.
Todd Miller:Yeah, we want to stay together, we want to grow together.
Todd Miller:And I still have clients who are still with me from, from, um, 2016.
Todd Miller:Very good.
Todd Miller:And that speaks volumes about you and what you're doing also.
Todd Miller:Yeah.
Todd Miller:So what advice would you have?
Todd Miller:We, we know that a lot of our audience members are folks fairly new to this
Todd Miller:industry and, you know, maybe even young in their careers, any particular
Todd Miller:advice you'd have for younger folks starting out, uh, in this industry,
Todd Miller:Timothy Wingate Jr.: Really make sure that you have counted the costs of
Todd Miller:what it takes to survive, because most businesses fail because they didn't count
Todd Miller:the costs and they didn't know how much it true, how much the capital that he truly
Todd Miller:needed to, to start this company because.
Todd Miller:Nothing's going to go perfectly.
Todd Miller:Things are going to crumble, go up, crumble again, grow up, crumble again.
Todd Miller:It's like the stock market, but I hope it's a good stock.
Todd Miller:So it keeps going up.
Todd Miller:And so that's kind of how you got to think about your company.
Todd Miller:It's like, you're constantly always preparing for the worst of times.
Todd Miller:And so in doing that, do that from the beginning, always
Todd Miller:prepare for the worst of times.
Todd Miller:And get help fast.
Todd Miller:Know that it's not a race and that you're, you're not trying
Todd Miller:to build this company overnight.
Todd Miller:And then you're also not trying to eat.
Todd Miller:Like steak, you know, from the first, from the first job, you know, um,
Todd Miller:you're, you're, you're really trying to get yourself to a place where
Todd Miller:hopefully you, you least want to have one or two people on the team, um, to
Todd Miller:help get things done at the company, because putting that all on yourself,
Todd Miller:trying to work and do the office stuff.
Todd Miller:And I mean, get jobs, it's just, it's just a lot you wear yourself out.
Todd Miller:So just knowing that, Hey, get help where you're your weekend.
Todd Miller:Really early.
Todd Miller:Um, don't try to eat a steak from your first, you know, a couple of projects.
Todd Miller:You know, keep eating that ramen noodles and, um,
Todd Miller:and, um, and, and just stay the course and can continue to study the industry,
Todd Miller:knowing what technology is out there because technology needs to be a part of.
Todd Miller:What you do, and you need to find a way of how, how to implement that.
Todd Miller:Um, and so, and if you're not good at the finances from the very beginning,
Todd Miller:don't try to, don't try to start it.
Todd Miller:They just go hire some bookkeeper who certified somebody who really
Todd Miller:understands bookkeeping at a basic level.
Todd Miller:You may not be job costing, but you at least have solid books.
Todd Miller:You know what I mean?
Todd Miller:Because you don't need to be, because when you're doing one or two
Todd Miller:projects, you know, every, every.
Todd Miller:Couple of months or so like that.
Todd Miller:You don't really need a job costing right at right at the start.
Todd Miller:You can you can get you can get away with just.
Todd Miller:Standard bookkeeping and just knowing that you just being profitable for the month.
Todd Miller:Very interesting.
Todd Miller:Well, and I love that where you started out, you know, you got to know the cost.
Todd Miller:And, you know, I think, you know, you were talking about financial
Todd Miller:costs, but I think a lot of folks to, um, kind of underestimate just the
Todd Miller:emotional cost of starting a business and the amount of time and so forth.
Todd Miller:And, you know, I've seen that really.
Todd Miller:Kind of, uh, surprise some folks also and put them in some pretty dark spots.
Todd Miller:So, yeah, find yourself a mentor, uh, find yourself somebody like Timothy
Todd Miller:to help guide you through that.
Todd Miller:Uh, I think that's all good.
Todd Miller:Good stuff.
Todd Miller:Excellent.
Todd Miller:Well, This has been a great time together.
Todd Miller:Um, really enjoyed it.
Todd Miller:Um, we're going to hear shortly, uh, close up the business end of things
Todd Miller:and move on to a little bit of fun.
Todd Miller:But, um, is there anything that we haven't covered yet today that you, uh, wanted
Todd Miller:to be sure to share with our audience?
Todd Miller:Timothy Wingate Jr.: No, I think, um, you know, I'm always available.
Todd Miller:You know, you can always just visit me that construction.
Todd Miller:accountant or at G plus F.
Todd Miller:com and reach out to me.
Todd Miller:And if you're not a good fit for, from a, a month to month client, it
Todd Miller:may be a good fit for just, it's the consulting piece, you know what I mean?
Todd Miller:Just to have someone you can meet with every couple of months and talk
Todd Miller:things through and to make sure that you're heading down the right path.
Todd Miller:So you do have relationships sometimes that are,
Todd Miller:look a little bit more like that also.
Todd Miller:Timothy Wingate Jr.: Yeah.
Todd Miller:Just like with some startups, you know, they, it doesn't make sense
Todd Miller:for them to hire a big County firm.
Todd Miller:But it does make sense to have someone they can consult with.
Todd Miller:Um, every now and then, um, about some big decisions to make.
Todd Miller:Very good.
Todd Miller:That's a neat option.
Todd Miller:And I, I don't often see that from consultants.
Todd Miller:So I love that.
Todd Miller:You're, you're willing to grow with them also.
Todd Miller:And that's cool.
Todd Miller:Absolutely.
Todd Miller:Absolutely.
Todd Miller:Well, before we do close out, um, I'm going to ask you, uh, Timothy, if you're
Todd Miller:willing to participate in something we call our rapid fire questions.
Todd Miller:So these are seven questions carefully curated.
Todd Miller:Okay.
Todd Miller:Thank you.
Todd Miller:No, maybe not.
Todd Miller:So carefully.
Todd Miller:Um, some of these questions may be serious.
Todd Miller:That may be a little bit silly.
Todd Miller:Um, all you have to do is give your quick response.
Todd Miller:Um, and audience understands you don't have a clue what we're about to ask.
Todd Miller:So you're
Todd Miller:Timothy Wingate Jr.: cool with
Todd Miller:this.
Todd Miller:Timothy Wingate Jr.: I'm cool.
Todd Miller:Okay.
Todd Miller:Well, we will alternate asking Ethan.
Todd Miller:You want to ask number question number one?
Ethan Young:Yeah.
Ethan Young:Yeah.
Ethan Young:I can start this off.
Ethan Young:Um, Well, we know you're a busy guy working on the business and all
Ethan Young:that, but what's one of your favorite things to do to relax on the weekends?
Ethan Young:Oh, golf.
Ethan Young:Gotcha.
Ethan Young:Nice.
Ethan Young:Sure.
Ethan Young:It's great down there with the good weather and all the
Ethan Young:shirts, a lot of nice courses.
Ethan Young:Yeah.
Ethan Young:Timothy Wingate Jr.: Perfect weather.
Ethan Young:It's getting too, it's getting a little hot right now, but we
Ethan Young:just came out of golf season.
Ethan Young:So yeah, it was busy.
Ethan Young:It was busy down this way for sure.
Todd Miller:Okay.
Todd Miller:Question number two.
Todd Miller:So last evening, I believe, or at least recently, I don't know, maybe we were
Todd Miller:watching on DVR, but here recently, another season of Survivor wrapped up.
Todd Miller:I'm curious, what TV game or reality show would you most like to be on?
Todd Miller:Timothy Wingate Jr.: I forgot the, I forgot the name of it.
Todd Miller:It was like Expedition.
Todd Miller:It was a show called Expedition before.
Todd Miller:Really?
Todd Miller:Yeah.
Todd Miller:There was a show cause they will, you know, you'll have your own team and
Todd Miller:they'll drop you off in like this country and you have to make this expedition
Todd Miller:to, to a, uh, some different point.
Todd Miller:It may be in a different country too.
Todd Miller:Like from one country to the next, you have to go through, you
Todd Miller:know, mountains or waterfalls and you have to, you know, it was.
Todd Miller:Really, really unique.
Todd Miller:Yeah.
Todd Miller:But I think it was called expedition.
Ethan Young:I want
Todd Miller:to check that out.
Ethan Young:Thank you.
Ethan Young:Alrighty.
Ethan Young:Um, next one.
Ethan Young:Do you have a favorite family tradition?
Ethan Young:And if so, what would that be?
Ethan Young:Timothy Wingate Jr.: Uh, favorite family tradition is.
Ethan Young:On Thanksgiving morning, all the cousins would get together and play basketball.
Ethan Young:And so we'll play half court basketball, four on four, and
Ethan Young:just play until we get tired.
Todd Miller:And then golf in the afternoon.
Todd Miller:Uh, very cool.
Todd Miller:So next question, what is a product or service that you've maybe acquired
Todd Miller:recently that was a real game changer for you, sort of a, you know, where
Todd Miller:has this been all my life moment?
Todd Miller:Timothy Wingate Jr.: Uh, there was this.
Todd Miller:Uh, software called fireflies and so fireflies is this AI recording software.
Todd Miller:So every time we log into a zoom meeting, it records everything and transcribes it.
Todd Miller:And so it's been a game changer because I don't have to repeat
Todd Miller:myself twice to an employee.
Todd Miller:So game changer.
Todd Miller:I was, uh, I was on a zoom call not too long
Todd Miller:ago and someone was using that.
Todd Miller:And I thought, yeah, that's pretty cool.
Todd Miller:Timothy Wingate Jr.: Yeah.
Todd Miller:Yeah.
Todd Miller:So like a digital note taker.
Todd Miller:I'm like, I'm like an old dog here.
Todd Miller:It's hard to teach me new tricks, but I may, I may give that one a try.
Todd Miller:Timothy Wingate Jr.: Oh yeah.
Todd Miller:It's good.
Todd Miller:Change of life.
Ethan Young:All right.
Ethan Young:This is a, this is a fun question.
Ethan Young:Um, if you were a professional wrestler, what would your entrance
Ethan Young:song be like your walkout song?
Ethan Young:Timothy Wingate Jr.: Probably be a Thai tribute song because he can get, you
Ethan Young:know, really how he's a gospel artist.
Ethan Young:Yeah.
Ethan Young:Yeah.
Ethan Young:But he's, um, yeah, it, it probably, maybe victory.
Ethan Young:He got a song called victory.
Todd Miller:I have to look that
Ethan Young:up.
Ethan Young:Yeah.
Ethan Young:Timothy Wingate Jr.: Yeah.
Todd Miller:Okay.
Todd Miller:This next question is a little weird.
Todd Miller:Um, would you rather have hands for feet or feet for hands?
Todd Miller:Timothy Wingate Jr.: It's definitely got to be hands for feet.
Todd Miller:I can't imagine having everything with your feet.
Ethan Young:Good answer.
Ethan Young:All right.
Ethan Young:And last question.
Ethan Young:This is always an interesting one.
Ethan Young:Um, what do you want to be remembered for at the end of your days?
Ethan Young:Timothy Wingate Jr.: At the end of my days, um, a God fearing
Ethan Young:man who, who served everyone.
Ethan Young:You know, family, friends, everybody knows that I was a giver.
Ethan Young:I gave more than what I receive.
Ethan Young:I think that's really good.
Ethan Young:Yeah.
Todd Miller:Good stuff.
Todd Miller:Well, Timothy, you had thrown it in earlier, but please again, tell
Todd Miller:us how folks can get in contact with you or check out your website.
Todd Miller:Timothy Wingate Jr.: Yeah.
Todd Miller:So you can reach me at construction.
Todd Miller:accountant or gplusf.
Todd Miller:com.
Todd Miller:And then on there, you just go in and there's a booking link.
Todd Miller:And you can book time with me and I'll show up
Todd Miller:very cool and I'm trying to remember is that G plus F the plus sign or
Todd Miller:is that spelled out plus is spelled out.
Todd Miller:Okay.
Todd Miller:G plus F.
Todd Miller:Very good.
Todd Miller:G plus F dot com and we will put that in the show notes as well.
Todd Miller:So, Timothy, thank you so much.
Todd Miller:Um, this has been a great time and, uh, happy to tell your story a little bit too.
Todd Miller:Timothy Wingate Jr.: Yeah.
Todd Miller:Yeah.
Todd Miller:I'm excited.
Todd Miller:You know, this was good time.
Todd Miller:Love being in on a call, especially with some brothers in the faith.
Todd Miller:So it's, it's, it's been excellent time way to cap off my Friday.
Todd Miller:Amen.
Todd Miller:Good one.
Todd Miller:Well, we were all successful at our challenge words.
Todd Miller:Um, Ethan, you had the word I had fair weather.
Todd Miller:Yep.
Todd Miller:You worked in there real well.
Todd Miller:Yeah.
Todd Miller:Yeah.
Todd Miller:I worked in there.
Todd Miller:Well, thanks.
Todd Miller:Timothy, you had flapjack, you worked at it there while also plus
Todd Miller:you get bonus points for using my word again, which was coconut water.
Todd Miller:So that was cool too.
Todd Miller:So good stuff.
Todd Miller:We had a little bit, a little bit of food, uh, stuff going on there anyway.
Todd Miller:Well, thank you again.
Todd Miller:Timothy has been a pleasure and, uh, enjoyed spending some time
Todd Miller:getting to know you a little bit.
Todd Miller:Timothy Wingate Jr.: Thank you so much, Todd, and I appreciate you as well, Ethan,
Todd Miller:for taking the time to meet with me.
Todd Miller:And I want to thank our audience for tuning into this
Todd Miller:very special episode of Construction Disruption with Timothy Wingate Jr.
Todd Miller:of G Plus F Business and Financial Consulting.
Todd Miller:Please watch for future episodes of our podcast.
Todd Miller:We're always blessed with great guests just like Timothy.
Todd Miller:Don't forget to leave a review, uh, on Apple podcast or YouTube until the next
Todd Miller:time we're together, though, keep on disrupting things, keep on challenging
Todd Miller:things, keep on looking for better ways of doing things and keep on making people
Todd Miller:smile, uh, doing those acts of service to make life a little bit better for others.
Todd Miller:Um, so God bless and take care.
Todd Miller:This is Isaiah Industries signing off until the next episode
Todd Miller:of Construction Disruption.
Intro:This podcast is produced by Isaiah Industries, manufacturer of specialty
Intro:metal roofing and other building products.