Owned and Operated - A Plumbing, Electrical, and HVAC Business Growth Podcast Double Your Profit Day #7 The Profit First Pricing Mindset EVERY 7-Figure Owner Uses
4 snips
Aug 7, 2025 Explore the transformative Profit First Pricing method that prioritizes profit over costs. Learn how to establish your margins, strategically allocate expenses, and shift to value-based selling. Discover why discounting is seen as lazy selling and how to create premium packages. Catch a real-world case study that highlights the pitfalls of being too cheap and understand the importance of knowing your margins. This approach guarantees you'll never underbid again and will ultimately boost your profitability.
AI Snips
Chapters
Transcript
Episode notes
Profit-First Pricing Insight
- Pricing should start with the profit you want to make, not just covering costs.\n- Building profit first into prices protects your bottom line and controls price setting.
Avoid Discounting, Sell Premium
- Avoid discounting; it is lazy selling and erodes margin.\n- Sell premium value and packages rather than competing on price to win more jobs.
Winning By Selling Value
- A local company priced 30-40% higher than us but won by selling value and premium packages.\n- Being the cheaper option lost us the bid despite offering a discount.