Overheads aren't the enemy
When the vast majority of Plumbing, Electrical, Glazing, Tiling, and other similar service based trades businesses want to increase profit, they look at the overhead costs and find things to cut. But is that really the best option? In almost all cases, trying to reduce overhead costs is the enemy of progress because when you’re running too lean you don’t have the necessary infrastructure to grow or operate at a high level.
Think of it like this, when you were setting up your business you brought a vehicle, any tools you needed, materials, a laptop for admin, and you weren’t concerned with the overheads because you knew you needed to spend money to make money, you believed in yourself to make that money back. So what happened? Don’t let that mentality change. When it comes to growing your business, scaling, reducing the reliance on you as the owner, you need to have the same attitude toward those costs.
In this episode you’ll learn why overheads are not the enemy and how they can be used to sculpt your business into whatever you want it to be. You will learn about the overhead range and where you want to be so that you are getting the most out of your business. Remember, reducing overheads actually comes at a cost of its own, which is all explained in the episode, if you don’t get this right it will eat into your growth, your profit, and your time.
WHAT YOU’LL GAIN FROM IMPLEMENTING TODAYS PODCAST:
- A new lens to look at overheads
- An understanding of the overhead range
- Maximization of the return you get from your business
LINKS MENTIONED IN THIS EPISODE:
- Join our FREE private community of trades business owners in our Facebook group
- Subscribe to our YouTube Channel
- Get a copy of the Profitable Tradie book
- Ready to take your business to the next level? Fill in this form to see if what we do will work for you and your business
Thanks for joining us this week. Want to subscribe to The Profitable Tradie Podcast? Have some feedback you’d like to share? Connect with us and leave us a review with a 5-star rating. If you think that’s too high, tell us why that is, we’d love to hear from you! Just shoot me an email with the word ‘PODCAST’ in the subject line to tony.fraserjones@profitabletradie.com
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