Contractor U: Bottom line thinking
Not making enough money? Then learn to think about the bottom line, not just what you’re billing (top line) on every job you do.
Contractor U: Learning to be a bottom-line thinker
If you are making a 20 per cent gross profit, and you increase your price on a job by 10 per cent, you will be increasing your gross profit by 50 per cent. So that’s the importance of watching your discounting, because the reverse is true. Decreasing your price by 10 per cent cuts your profit in half!
Contractor U – The Upfront Contract
Your goal with an Upfront Contract is to reduce the number of proposals you do for people who never wanted to buy from you in the first place.
Contractor U – The assumptive sales close
The assumptive close works. And it’s not manipulative. If the client doesn’t want to move ahead with you, as their renovator, they will tell you. But this close makes it less likely that they will do that.
Closing the sale: The Bracket Close
Sales closing techniques don’t have to be pushy. You are simply helping the customer to come to a decision that they want to make, or they wouldn’t have called you in to quote on their job in the first place.
Training, time-management and your contracting firm
Training should be an ongoing, routine part of your company. It shouldn’t be something you only do when a new hire is brought on.
Why are so many homeowners holding up that last cheque?
What is it about February that makes some renovation customers so difficult to deal with – and get cheques from on a timely basis?
Dreaming of making more money from contracting? Start acting…
The plateau effect, where you grow your business to a certain size and it never gets any bigger, can be overcome. Systems are everything. And getting outside help in setting up these systems is a really good idea.
Join this renovator group on LinkedIn
Social media connections like this LinkedIn group can be a vital part of your marketing strategy. Why not give this one a try? It’s free and we already have over 130 renovators connected. Join us!
Loading ...
May 16, 2013
Joe — Hi rob
I can't agree more
Us experienced contractors know the real time required to complete a job
I have in...
May 16, 2013
Denise Power — I am a home owner and have been so for six years, when we bought our home we had two...
May 15, 2013
Alec Caldwell — On that article in the Toronto Star Business section on Monday 13, 2013. The spin doctors said:
"there are almost 300,000...
