🎙️ In this episode of the No BS Podcast for Contractors, Andrew Houston 🧑💼 is joined by
Anna Caruso 🧑🏫, PFC Financial Coach, to discuss the 🔑 importance of pricing profitably for contractors.
Andrew emphasizes that the podcast is not just about theory, but also provides 💡 insights, 🎓 techniques, 💰 tips, and 💎 golden nuggets that can be applied to contracting businesses to improve profitability.
Anna and Andrew stress the significance of making data-driven decisions in pricing jobs, regardless of trade, location, or team size.
They highlight that using data ensures accuracy and confidence when presenting information and emphasize the need to leverage a profit and loss statement for pricing jobs profitably.
Andrew also introduces a tool 🛠️ that listeners can use to walk through the process, making it practical and easy to follow.
Andrew and Anna make it clear that the podcast offers practical tools that contractors can apply to their businesses to improve profitability, rather than just talking about theoretical concepts. 💪
Chapters:
0:00 Introduction
1:30 Pricing your jobs profitably
7:13 Using your profit and loss statement to determine pricing jobs
9:20 Pricing for profits is a legal binding document
14:43 What are the expenses you need to do to operate the business?
17:04 What’s the next number?
22:48 Why is it so critical to get this number right?
25:04 How to figure out your breakeven profit margin
30:36 The importance of getting down to the specifics.
32:42 If you don’t follow through, you’re going to get the ignorance tax
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Full episode available to listen to on:
📌 Apple Podcast
https://podcasts.apple.com/us/podcast/the-profit-for-contractors-podcast/id1504320346
📌 Spotify:
https://anchor.fm/profitforcontractors
