The Profit Builder

how doing this one thing will make for a smoother job process

The project started great, and the results were beautiful, but the middle felt like a slog!

Sound familiar?

You become so focused on getting the work done right, and delivering a result you can be proud of, but then the customer interface is not always smooth. Adding this one small detail can make the entire experience for both you and the customer significantly better, and allow for a smoother job process.

In today’s video discover how doing this one thing can get clients to be more cooperative and make decisions faster and help you and them have a more collaborative relationship.

If you missed my last video titled “the first step to solving that problem,” you may want to check it out.

the 1st step to solving that project problem

When Jason posed the question below, I immediately wanted to jump in and solve his problem.

As I considered all the possible reasons he is experiencing this challenge on projects, I thought about all the possible issues that could be causing Jason’s problem.  “I’m the expert,” I thought – so I’d better give him a thorough answer!

Well – no.  At least not right away.  That’s when I remembered the first step in solving any problem . . . and I’d not yet taken that step.

Here is Jason’s question: “I’m struggling with the client experience during the project. The beginning is great, the end result is stellar, middle really sucks. What advice would you have to help?”

In today’s video, I talk about what the first step is to resolve any problem or breakdown, and what questions I asked Jason to allow me to best help him solve his issue.

Make sure to tune into next week’s video where you’ll learn how I helped Jason solve his problem/

Give today’s video a listen now (just 7 minutes) so you can begin using this 1st step in solving that problem you’re currently facing.

how much should rent be for your contracting business?

As a contractor have you ever wondered if the amount you spend on rent, (facility costs) is on par with how much other contractors are spending? Or have you ever considered moving into a new space or buying a building but just were not sure of the amount you should charge the business?

If you said yes, you’re not alone.

When Reese asked me this question I was compelled to go dig into the data and find the answer. Some of what I learned surprised me, and it may you too!

“What percent of revenue should my rent be if I’m trying to grow my business? Next year I’m going to look into buying property and then rent it to the business, but I’m not sure what a reasonable monthly payment should look like?”

In today’s video, you’ll learn what the numbers showed is the average cost for subcontractors and general contractors (of varying sizes) for facility costs (rent, utilities, insurance, repairs & maintenance, taxes, and janitorial). After watching this short video you’ll be able to do this analysis on your company as well!

Go do a bit of analysis on your own business and see what your numbers show for facility costs and see where you compare. Simply run a profit & loss statement for the last 5 years and do a side-by-side comparison (make sure to click the button that says “% of income”).

If you are interested in more ways to increase the profitability of your business, make sure to check out my book, “The Profit Bleed – how managing margin can save your contracting business.”

Connor asked, “should I bid by product or by services?”

frustrated person on the phone with hand on head

As a contractor do you ever struggle with trying to explain to a prospective customer the reasoning behind the pricing of a project?

Last week in the “just ask Vicki” series, a kitchen and bath remodeler (Connor) asked me this question on the subject:

“Would you recommend building our bids in terms of the “product” that the customer is buying (e.g., Bathroom Remodel, Kitchen Remodel) – or based on the actual “services” offered (e.g., demo, tiling, painting)?”

I love Connor’s question, and in the rest of his question, he actually answered his own question – in part, but there are two distinctions that as you read on, can help him (and you) find an easier path in the sales process. Here is what Connor adds to his question:

(more…)

start getting paid what you’re worth!

Contractors are some of the smartest people I know, and yet, they rarely give themselves credit for the value and contribution they make, and this is often reflected in their prices, and in their bottom line.

Is this you? Is your bottom line not matching up with your worth?

In today’s video, I share the story of a client who went from being on the brink of bankruptcy to making more money than they ever dreamed possible, taking off 4-6 weeks a year and loving what they do again.

Discover what Alex and Joe did to turn their business around and how you can apply those same few key steps to your business and start getting the return you deserve and getting paid what you’re worth!

finding more ease in running your contracting business

As a contractor have you ever experienced that low level of angst and worry about how to maintain control over your business? And have you ever found yourself not being able to let go of work, even when you’re not working?

I get it – I lived with a painting contractor for years who operated from that place. The stress on him and our family was tough.

It was when Bill and I began brainstorming ways for him to know how he could stop worrying and let go of work when he wasn’t working that the answer became clear, and he started having more peace and ease in how he runs his business.

In today’s video, you’ll learn how I helped Bill and hundreds of other contractors over the past 25 years, change all that. You’ll discover one of the keys to having less angst and worry, and how to have more peace of mind and ease in running your contracting business.

the secret to more control with less work

As a contractor do you ever feel like trying to control the results in your business is a little like the guy at the circus who’s juggling all the balls in the air, running here and fro to make sure one of them doesn’t drop?  While it’s impressive to watch them do it and end up with all the balls in their arms, it’s also very obvious when they finish that they’re exhausted.

Sometimes running a contract business that has several projects going at one time can feel that way too.

While it can feel like that is your only choice, I’m here to tell you  – there IS something you can do to have more control, that doesn’t involve you just working hard, or more hours.

The one thing that always gives you more control is information. Information gives you…

Clarity 
so you can have More Confidence,
so you can take more Powerful actions

Today’s video is an interview I did with Devon Tilly, host of the podcast, Art of Construction.  In this interview, Devon starts out by asking me…

“How do you see contractors are being controlled by their business?”

What a great question! As you watch and listen, here are a few questions to ask yourself…

What DO I know and how can I get even more clarity?
How CAN I plan for the unknown?
What choices DO I have now?

Here’s to you not being the juggler anymore!

is that candidate who they say they are? (6 of 6 in the “Hiring Right” series)

Most of us know at least one business that has been embezzled from or had employees use their accounts to purchase materials for a side job.  Heck, maybe that’s even you!  In over 30 years of working with contractors, the one thing I’ve found is that if you take a few extra steps before you make that job offer, you can avoid the horrors of dishonest employees.

In today’s video, I share with you a proven system for verifying a candidate’s background. This system is used by many head-hunters and successful contractors to ensure that what a candidate tells you or puts on their resume is true, or if they are lying.

In this video get the steps to help you have the peace of mind that the hire you’re about to make can be trusted.  The special offer I make at the end of this video is good until Friday, July 2nd at midnight – check it out!

narrowing in on the right candidate (5 of 6 in the “Hiring Right” series)

Have you ever second-guessed yourself after you’ve interviewed a candidate, wondering if the one you chose is really a right fit? Or maybe you have interviewed two or more people and can’t remember some of the specifics on their skillset and are now wondering who the best candidate is to hire.

In this week’s video 5 of 6 in my Hiring Right series, I share a simple way for you to narrow in on the right candidate with confidence.

Take a few minutes now to watch so you can add this into your hiring toolbox.

Stay tuned for the 6th and final video of the “Hiring Right” series – how to know if you can really trust that person your about to hire.

the secret to being a great interviewer (4 of 6 in the “Hiring Right” series)

If you’ve ever hired the wrong person for a job, you know how frustrating and costly it can be.

More often than not, the real problem is interviewing techniques that don’t actually reveal if a candidate’s skills match your needs.

In this session 4 of my 6 part Hiring Right series, I share with you the secret to being a great interviewer.

In this video, you’ll learn the skills that great interviewers use to gain clarity and confidence on whether or not a candidate can actually do the job you need them to do.

Stay tuned for video 5 of 6 in my “Hiring Right” series where you’ll learn how to select the right candidate!

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