The Contractor Fight with Tom Reber TCF1058: Why Your Money Fear is Killing Your Business
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Sep 13, 2025 Contractors often shy away from money talk, but this discussion emphasizes its importance for profitability. Learn how transparent pricing can streamline sales and build trust with clients. The hosts tackle common cash flow challenges and highlight effective strategies like upfront payments. They also explore how to shift the taboo mindset around money to foster healthy financial habits, breaking generational cycles of anxiety. Get ready to rethink your approach to pricing and enhance client relationships!
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Always Collect A Deposit Before Starting
- Do not go to a job site without having collected the deposit check first.
- Require clear payment terms upfront and refuse to start work until money is secured.
Use Progress Draws To Avoid Financing
- Use progress draws on long projects instead of financing the entire job yourself.
- Request periodic draws (e.g., $25k) so you don't leave large sums unpaid while work proceeds.
Money Talk Breaks Old Cultural Taboos
- Money is a learned cultural habit and many contractors avoid talking about it.
- Breaking the taboo and discussing money openly shortens sales cycles and improves decisions.