TCF1019: The Top 4 Reasons MOST Contractors NEVER Crack $1M - Part 1 of 5
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May 12, 2025
In a compelling discussion, the hosts tackle why many contractors struggle to reach the million-dollar revenue mark. They emphasize that a lack of understanding of numbers is the primary hurdle. Concrete examples reveal how ignorance of finances can derail success. The need for precise goals is spotlighted, showcasing that clarity boosts results. Additionally, strategic adjustments in pricing, sales, and company culture are essential for growth. The Million Dollar Contractor Workshop offers invaluable guidance for those ready to elevate their game.
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insights INSIGHT
Reality Under $1 Million Revenue
Most contractors never reach $1 million revenue and remain stuck in a glorified job with stress and little freedom.
Under $1 million, they work long hours with low pay and no scalable business structure.
question_answer ANECDOTE
Tom's Under $1M Experience
Tom Reber recounts working under $1 million revenue, feeling buried in stress and exhaustion with no freedom.
He describes it as owning a job with too much overhead and not enough reward.
volunteer_activism ADVICE
Track Your Numbers Daily
Know your numbers precisely and track key metrics daily like leads, close rates, and job size.
Use any tool you want but never guess your financial status if you want to grow to $1 million.
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This is Part 1 of our Million-Dollar Mistakes series—all week, we're breaking down why most contractors never crack $1M, and how to avoid the traps. Check back daily for the next episode.
Want to build your plan? Join the Million Dollar Contractor Workshop – Live, May 20–22:
Most contractors never break the million-dollar revenue mark—and in this powerful first installment of a 5-part series, Tom Reber breaks down exactly why. This episode zeroes in on the #1 obstacle holding you back from building a real, profitable business: not knowing your numbers. If you're serious about taking your contracting business to the next level, this is where the path begins.
In this episode, Tom discusses:
[00:00] Introduction to the special 5-part bonus series
[00:14] Overview of the Million Dollar Contractor Workshop (May 20–22)
[01:51] The harsh truth: most contractors never hit $1M in revenue
[02:25] Why staying under $1M means you're stuck in a glorified job
[03:11] The critical first step: know your enemy
[03:44] Obstacle #1: Not knowing your numbers
[04:26] Examples of how clueless contractors are about their finances
[04:51] Key metrics you must track daily to succeed
[05:10] Why the tool doesn’t matter—just track your numbers!
[05:26] The danger of vague goals and the need for clarity
[06:20] You must evolve at every revenue level
[06:44] Aim small, miss small: specific goals lead to better results
[07:16] Pricing, marketing, leadership—adjusting the right business knobs
[07:40] What to expect in next week’s workshop
[08:11] Final push to register for the Million Dollar Contractor Workshop
Resources:
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🎯 MILLION DOLLAR CONTRACTOR WORKSHOP
📅 May 20–22 | 6–7pm ET
🛠️ Only $15 (every penny goes to Wounded Warrior Project)
The Contractor Fight with Tom Reber