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Owned and Operated - A Plumbing, Electrical, and HVAC Business Growth Podcast
#149 - Leadership Through Open Book Management with Ellen Rohr
Oct 29, 2024
Ellen Rohr, a plumbing entrepreneur and business consultant known for her roles at Zoom Drain and ServiceTitan, shares her journey from plumbing to business success. She delves into the transformative power of open book management and how financial transparency can elevate team morale. Ellen discusses strategic pricing and its role in overcoming debt, alongside practical advice for tracking financial metrics in the trades. Her insights on leadership and aligning personal and business goals are a must for anyone looking to thrive in service industries.
01:03:05
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Quick takeaways
- Establishing accurate pricing is essential for profitability, requiring a clear strategy based on comprehensive cost analysis and desired profits.
- Open book management fosters accountability by sharing financial insights with employees, enhancing trust and collaboration to improve overall performance.
Deep dives
Understanding Costs and Pricing Strategies
Determining accurate pricing is crucial for running a profitable business. To succeed, it is essential to understand your costs of doing business, including salaries, vehicle expenses, and other operational costs. A clear pricing strategy should be established by adding costs and desired profits into billable hours. This approach simplifies pricing and ensures that businesses charge appropriately for their services.
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