In this episode, Gerritt Bake addresses the critical issue of underpricing jobs, which often leads to financial loss and burnout, especially for tradespeople like finish carpenters. Through an engaging conversation with a seasoned trim carpenter struggling despite being busier than ever, the discussion highlights the dangers of underestimating job costs, neglecting profit margins, and the false belief that more jobs automatically translate to more money. The episode emphasizes the importance of knowing the true cost of labor, materials, and overhead. Practical strategies are shared, including the use of estimating software, targeted marketing towards high-paying clients, and the transformative power of valuing one's work and raising prices. Listeners are encouraged to abandon the low-bid mindset, identify their ideal clients, and confidently charge what they are worth to avoid the pitfalls of underpricing.00:00 The Cost of Underpricing: A Carpenter's Story01:49 Identifying the Root Cause of Financial Strain03:39 Shifting Focus to Profitable Jobs05:08 Building a Game Plan for Success07:11 Knowing Your Numbers: The Key to Proper Pricing08:48 The Power of Raising Your Prices09:49 Final Thoughts: Value Your Work and Get Paid What You're Worth
