I had the most interesting experience last month being a guest on my friend Kyle Hunt’s podcast, Remodelers on the Rise.
I came prepared to talk about pricing for profit and ready to answer the questions we’d outlined ahead of time. But right from the get-go, Kyle went off script. At first, I was concerned and thought “where is he going with these questions?”
He’d make these funny comments, or intersperse a light-hearted observation while I’d be making a point, which threw me off a bit.
But within a short time, it occurred to me that what Kyle was doing was digging for a deeper answer than the one I’d come prepared to give.
He wanted to know the nugget of truth. He’d ask, “so why is that important?”
As his questions peeled away the layers of my thoughts, I found myself getting excited to dig deeper into the “why.”. He pulled from me, the essence of what I know to be true about pricing, and, about growing a business that can thrive and prosper.
The “essence of truth” that Kyle pulled out of me was this… know your numbers.
I mean really know your numbers. Not because it’s what your “supposed to do” and not because you want to model what other successful contractors are doing, but because it will make your life so much easier.
Last week while ending a meeting with my client Joyce she said to me “you know, my life has been completely transformed in the past few years.” When I asked how she said…
“Because I no longer live in worry and wonder. I no longer fret whether there will be enough money in the bank, or if I’ll meet my revenue goals. Now I know because I have the right feedback and numbers to tell me to know where I stand. Even if I’m off course, at least I know how big or small the gap is. I have certainty and confidence in what I’m doing in ways I never had before, and I love my work again.”
That is why you want to know your numbers.
If the idea of having more confidence and certainty in your pricing sounds appealing to you, check out the podcast I did with Kyle.
In my book, The Profit Bleed, I share with you what specific numbers you want to pay attention in your business that will let you get more control over your bottom line, and your life like my client Joyce.
For a limited time, I’m offering the book for free, you just pay the shipping and handling.
As always, I’d love to hear your thoughts about this post and the video – so feel free to leave a comment below or reach out to me on LinkedIn or Facebook.
p.s. you may find my article “Beyond Breakeven” a good tool to help you know your numbers better when your pricing.
Vicki Suiter helps people see their businesses differently, then gives them the tools to do things differently. Since beginning her business in 1990, Vicki has helped hundreds of contractors achieve the kind of success they never dreamed possible. Today, in addition to consulting, Vicki is an in-demand speaker at industry conferences nationally and internationally. Vicki’s articles and opinions have been widely shared in print and across the web. She is also the author of the book “The Profit Bleed” How managing margin can save your contracting business.