Today, Tom is taking it back to the fundamentals of running a successful contracting business. Join him as he offers a crash course on basic contractor business, explaining the key terms of the business world in simple language to help contractors understand the numbers behind their business.
Conversation Highlights:
[00:00] - Intro
[01:50] - Revenue
[02:15] - Sales
[03:14] - Cost of goods sold/ Direct costs
[05:50] - Gross profit
[06:52] - Overhead
[08:31] - Break-even point
[10:34] - Net profit
[12:58] - Cost per lead
[13:46] - Cost per sale
[14:03] - Closing rate
[14:22] - Average sale
[15:47] - Closing remarks
Get your free Contractor Math Cheat Sheet and dive deeper into these concepts. Get access to it here: https://thecontractorfight.com/math/
Resources:
❄️ Winter slowdown? No problem! Jump into BATTLEGROUND with this HOT offer! Sign up for 3 months of contractor coaching and we'll gift you 1 month FREE. Make the most of your winter downtime and learn from our kick-ass team of coaches. Jump in before October 31st. https://thecontractorfight.com/battleground
💰 You didn’t become a contractor to struggle financially. Download our worksheet and start calculating a 50% gross profit on every job. It’s time to get your shit together! https://thecontractorfight.com/50/
💸 Grab your copy of our FREE Contractors Guide to Spotting Cheap Prospects here: https://thecontractorfight.com/cheap
== Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook
== Grab the Gear ==
https://gear.thecontractorfight.com/
== Find Us on Social Media ==
YouTube: https://www.youtube.com/c/TomReber
Instagram: https://thecontractorfight.com/ig
== Rate the Podcast ==
Help your fellow contractors find the podcast! Please leave a rating/review!