Episode 58

full
Published on:

3rd Mar 2023

This Type of Profit is KEY to Your Business's Success

Your ‘on the job profit’ is something that’s more important than almost anything else in your business.

But many business owners just wing it on their pricing.

And they do very little to check on the profitability of the jobs once they’ve finished them.

This leads to serious problems…

People running their business like this end up with cash flow issues and not enough money to pay bills and wages.

If you’re not making any profit you’ll struggle to provide a great service to your clients in the long run because you’ll be in the penny-pinching mindset.

This stops you investing money back into your systems and team.

Plus you’ll be overworked, tired and eventually broken because you try to do everything yourself to keep costs down.

That’s why in today’s podcast Phil and I are going to give you some real practical skills to ensure you’re making enough ‘on the job profit’, on every job.

Let’s get into it…

 

WHAT YOU’LL GAIN FROM IMPLEMENTING TODAY’S PODCAST:

  • You’ll generate good cash flow and have money for bills, wages and profit for yourself
  • You can continually invest money back into the business to improve your systems and hire the best people
  • You can grow a team that will allow you to create a great lifestyle
  • You feel in control of your destiny because you have a clear picture of what is happening in terms of your job profits giving you confidence to make decisions and changes based on the right information rather than guess work


LINKS MENTIONED IN THIS EPISODE:


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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About the Podcast

The Profitable Tradie Podcast
How to build a profitable Plumbing, Electrical or similar business that gives you the time, money and freedom to enjoy life.
Are you the owner of a Plumbing, Electrical, or similar service business and looking to increase your profits and regain your freedom?


If you answered yes to any of the above then follow/subscribe now, this is the podcast for you!

Presented by Tony Fraser-Jones and Phil Smith from Profitable Tradie. We dive into what it takes to build a profitable trades business that gives you the time and freedom you deserve.

We touch on topics like...
- How to hire decent tradespeople.
- What to do when clients don't pay their invoice.
- How to get around people beating me down on what I charge.
- Should I buy or lease my next van/truck?
- How to get my team to get off their phones and be motivated for work.
- The second easiest way to increase your profitability.

Along with sharing a ton of free resources so you can get started on what we're discussing right away!

We also talk with some of the world's most successful trades business owners and learn how they took their businesses from mediocre to multimillion.

In short. We don't know what we don't know.

Subscribe/follow now and join the global community of Profitable Tradie

About your host

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Tony Fraser Jones