TCF966: Responding to Hate Comments

Nov 21, 2024

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In this episode, Tom Reber and BATTLEGROUND coach Micah Miller tackle some of the hate comments they’ve received online, addressing common misconceptions about pricing, profitability, and the contractor industry. This candid discussion sheds light on the challenges contractors face and the importance of standing firm on pricing for the value delivered.

Episode Highlights:

[00:00] - Opening comment: "Why People Hate Contractors" and discussing profit margins
[01:00] - The Catch-22 of pricing and the misconceptions about contractor fees
[02:14] - Why many contractors aren’t ready for high-value clients
[03:04] - The importance of professionalism in securing larger clients
[05:29] - Breaking down where the money actually goes in a project
[07:12] - Calculating true costs beyond materials and labor
[08:19] - The reality of profit margins and comparison to employee salaries
[09:56] - How undercharging affects contractors’ ability to deliver quality work
[11:27] - Why many contractors should still be working on the tools at certain revenue levels
[15:22] - Understanding lifestyle goals and tailoring business growth accordingly
[17:27] - The benefit of specialization and “staying in your lane” for efficiency
[18:50] - Why "take it or leave it" pricing is a poor sales strategy
[21:02] - A personal story of losing a bid and learning the true reason behind it
[23:41] - Knowing your numbers and the dangers of undercharging
[24:56] - Examples of intentional pricing strategies and job costing
[29:18] - Balancing price increases with retaining the right clients
[31:55] - Final thoughts: The impact of specialization and offloading tasks

Resources:

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