TCF1031: Cheap Contractors Don't Win

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Jun 12, 2025

Discover how your beliefs about money can transform your contracting business. Learn why a shift in mindset is crucial for setting confident prices and attracting high-end clients. Hear gripping stories about lost upsells and the impact of a broke mentality. Uncover the secrets of communicating value effectively and why discounting may not be the solution. Finally, explore the importance of crafting a premium experience to elevate your brand and boost profits.

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INSIGHT

Buying Mindset Shapes Selling

Your personal buying mindset directly impacts how confidently you can sell and price your services.
Cheap mindset devalues your work and blocks sustainable business success.

ANECDOTE

$700 Upgrade Lost $10K Sale

Steve Schinholzer almost lost a $10K upsell due to underestimating a $700 price increase.
The painter's poor money mindset scared away a profitable upgrade that Steve would've paid.

INSIGHT

Mindset Drives Client Quality

Broke contractor mentality leads to undervaluing services and attracting budget buyers.
High-end clients evaluate quality, longevity, and reputation over price tags.

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In this powerful solo episode, Tom digs deep into one of the most critical yet overlooked aspects of contractor success—money mindset. He unpacks how your personal beliefs about money shape your pricing, client interactions, and ultimately, your profitability. If you're tired of scraping by and want to finally earn what you're worth, this episode is your wake-up call.

In this episode Tom discusses:

[00:22] How your buying mindset influences your ability to sell confidently
[01:00] The critical mindset shift that helped Tom grow his business
[02:00] Tom’s early struggles with being a deal-seeker and how it held him back
[02:37] Steve Shinholser's story about losing a $10K upsell over a $700 assumption
[03:29] Why broke mentality contractors self-sabotage their success
[04:15] Business success is mostly mental—mindset trumps math
[04:33] The value-focused decision-making of high-end clients
[05:01] A client story: charging double yet still closing the sale due to reputation
[05:30] Another client story: explaining higher pricing without getting defensive
[06:21] Differentiating through hiring, warranties, and job pre-planning
[06:47] Reframe questions from prospects—most are just curious
[07:10] Fix your cheeseburger—how to reassess and elevate your product and experience
[07:47] Communicating value through content and social media
[08:23] The myth that discounting helps close more deals
[09:01] The T-BAR principle: thoughts → beliefs → actions → results
[09:39] A $17K mistake from underestimating the client’s budget
[10:09] Why self-talk matters and how to reframe it positively
[10:23] Get rid of clearance-rack thinking—clients will pay for value
[10:40] How Contractor Business School helps rewire your money mindset

Links from the episode:

https://contractorbusinessschool.com

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