Million Dollar Electrician - Sale to Scale For Home Service Pros

One of the biggest mistakes electrical contractors and businesses experience when first starting up is having the mindset of pricing a service in the cheapest rate in order to get the maximum work that you want. Of course, we all want to stand out among other electrical companies and oftentimes, we believe that the cheapest rate is the way to go. However, this approach can be detrimental in the long run.Although this may help in the first few months, as your business grows, the need to upgrade equipment, pay for team trainings, set up an office, etc. will require you to raise the price of your services. And if you don't give the effort to make the change, your electrical business will not be able to survive.So, what steps can you take today to make tomorrow's business prosper? The big step to this is actually having a plan. A plan is important to set your business goals, and make sure you are still heading in the right direction. By having a plan, you can always look back, analyze what has been done successfully, what needs to be improved or changed, and how to better market or adjust pricing.Another key factor is knowing how to price your services accordingly and coming up with the right options to offer your client. You need to be able to come up with a solid rate and have the explanation to back it.The all star action here is to never back down on your stated prices and never settle for less than what you have offered. This will show your client that you are confident in your product and services, as well as displaying professionalism.

As with any profession, success can mean different things to different people. For electrical contractor, it could be the number of clients they serve, the quality of their work, or the impact they have on their community. However, one standard measure of success electricians often consider is how much is in their bank accounts. Despite this set standard, you need to know that the bank account balance can tell us a lot of things, but one of the things that are not gonna tell us reliably is how well we're doing in business. And if you don't know how well you're doing in business, it's difficult to achieve success. So how exactly can electricians measure success? Well, through KPIs or key performance indicators. Setting KPIs is a great way to measure electricians' success in achieving their goals and objectives. These indicators can include how much calls you're getting in a day, which areas you cover, how much time it takes to finish a project, customer reviews, and overall customer satisfaction.These measures make it easier for electricians to measure their performance over time and make tweaks where necessary to reach their goals consistently. Additionally, these indicators also help them identify areas for improvement in order to increase efficiency and profitability. By following this setup, you can easily track how well you're progressing and complete your objectives while ensuring high customer satisfaction. 

 Events for electricians are often held to promote business and networking opportunities. Professional electricians will gather to discuss the latest industry trends, technology, and products. There are instances when we get invited to such events. Whether acting as a speaker and sharing our expertise on electrical work or participating in networking opportunities, the invitation to attend is always tempting. However, you won't see us at these events. That's because we aim to share what we believe in, what we're passionate about, and how we prioritize in helping electricians provide premium services. We value impact, efficiency, and transparency. We have our own set of goals, and oftentimes, these events don't lead to the outcomes we crave. There are certain standards these events give to electricians, such as the "supposed" to be earning a certain amount of money, getting the latest equipment, or working with the biggest names in the industry. But we don't believe that's what electricians need to succeed. We focus on helping them become more efficient and productive while providing high-quality services to their customers. Find out more as to why we believe this is a better approach to success by checking out our podcast. Learning this will open your eyes to a new, more efficient way to become successful in the electric industry. Don't miss out on this incredible opportunity! 

Have you ever found yourself in a situation where you're just trying to do your job, but the client won't stop talking? Perhaps they're asking too many questions, going off on a tangent that has nothing to do with the task at hand, or even doing something that is counter-productive for you. If this sounds familiar, you know how challenging it can be to stay focused and polite. After all, it is your job as an electrician to serve the client, and any poor interactions can damage your reputation. If you don't know how to handle these situations, things can go out of hand and quickly deteriorate.You might end up snapping, which can lead to acting out of frustration. You'll ruin your reputation, risk getting bad reviews, and even lose the electrical job entirely. Undoubtedly, you need your space. You need room to breathe to design the best option for your client and determine the best approach to their concern. The last thing you want to do is leave the client and just tell them you'll send them a quote. Not only will it damage your name, but it will also affect their trust in you.One way you can deal with this kind of client is doing the "Interrupt Step" Basically, you give your clients something to do to keep them preoccupied. For instance, you can first tell them how grateful you are to work with them (gratitude step), then ask something like a glass of water or perhaps an opinion about the project. This will stop them from dwelling too much and allow you to finish your work in peace.While they're doing what you asked them, you can use this time to finish the task at hand. Once they come back, you can thank them and let them know about the options you've come up with and how this will benefit them. It's important to remain calm and respectful throughout the process. By following this, your career as an electrical contractor will go a lot smoother. You will be able to keep your clients happy, and they, in turn, can help you build up a reputable electrical company. 

Doubts, not trusting the process, and second thoughts are always a big hindrance to reaching your full potential, and the same thing can be said when it comes to sales. Oftentimes, you may feel afraid that the scripts and sales process we've set up won't work. Whether it's because you believe your area of service is too competitive or that customers just aren't the right fit for the role, it's important to stay focused and trust the process. If not, you won't be able to reap the benefits of sales success.Our sales process isn't crafted out of thin air, it's backed up by hundreds of years of business experience. We've researched and tested the process to make sure it works, and time and time again, we've proven its success. But of course, fear is a natural feeling to have. You may be thinking customers may already be catching up, that they'll know when you're trying to sell them your service. This may be something that's been holding you back, but there are ways to overcome this and all those other issues that may be preventing you from closing deals.Start by keeping at heart that you're aiming to provide valuable service, to make customers feel happy about your service and to understand their needs. Acceptance that not all potential sales will be a success, but having a process will help to minimize the losses.Tune in to our podcast to learn more about how to get through a tough sales cycle and start closing deals. 

In the field of electrical work, being a subcontractor could end up screwing your business or if positioned properly could take it to the next level. Many electricians have attested to the fact that being a subcontractor can potentially offer more stability, flexibility, and access to larger projects. However, if you don't know how to go about it, or are unable to follow the right process, you could find yourself in a difficult situation that may jeopardize your business.Being a subcontractor has its own set of challenges, and some of these include dealing with cash flow issues, difficulty in recognizing which accounts payable belong to which project, and having trouble identifying whose client is whose. Even if cash flow is not a problem, there could be a 40-60 day delay in the return of the cost that you shouldered, and invoicing can be challenging when you're juggling multiple projects. Additionally, it can be tough to serve clients with additional services when your contractor says otherwise, which makes it hard to leverage without the contractor in the picture. These are just some of the problems that subcontractors often face, but don't worry, solutions do exist.For one, if you're only locked in to a 10% agreement with your contractor, you should ask whether you're allowed to offer additional services to the client. This way, you can have opportunities to sell your own service. It's also important to find a contractor that offers a 30/70 split, although this may be challenging, taking time to research and creating a list of contractors who can potentially offer these terms is worth the effort. Additionally, the good neighbor program is a great way to expand your client base. By reaching out to your subcontractor client's neighbors and giving out your card or asking what their electrical problems are, you can help create a good start with potential clients who may require your services in the future. Don't miss out on this valuable information! Tune in to the podcast now to learn more about how to navigate the challenges of being a subcontractor and achieve success in your field.

Simple pricing allows you to focus on giving premium service, which also allows you to build more rapport and engagement. One method many electrical companies use is a pricing book, a menu of services you offer, and how much they cost. However, there are tons of issues associated with using this system. By listing the hours it would take, the price it costs, and the exact thing you need to do, it can become complicated for you and your team. The problem here is there's a lot of room for mistakes and miscalculations. You might undersell a certain project just because you misread a figure or made a calculation error. Another issue is the pricing book can become outdated quickly. As technology progresses and new materials are used, the cost of your services will probably change. This means you'll have to constantly update your prices to remain competitive and profitable. Now, isn't that just time-consuming? You'd rather focus on providing better services than looking at prices, right?Considering all these, going for the "service rate method" is the best way. A flat rate that's built out of the experience and grows as your business does. It takes all the guesswork out of pricing, and it's also very easy to update. You need to believe in the rate you set, and establish a price accordingly so that when you get asked about the price, you can confidently answer without stuttering. Learn more about this by checking out our podcast. We have talked about how you can set the right pricing for your services. You’ll learn how to come up with a rate that works best for you, what clients will and won’t pay for, and how to confidently communicate value to potential customers. So don’t wait anymore and check it out! 

Any time someone tries something new, whether it's a hobby, a career change, or a new business process, we all experience those "chicken moments." Because we have the fear of uncertainty and failure, we go back to what's familiar, even if the road is leading us to a dead end.We rather deal with the devil we already know rather than the one we don't. Of course, change is a scary thing., however, if we don't take that leap of faith, we are limiting ourselves to our current capabilities and not moving forward. We miss out on opportunities that could have taken us to new heights, heights that we could never have imagined.For you to be great, it's really going to suck first. However, if you don't start now, you will never get there. You can't expect to get something new if you keep trying the same thing. Making mistakes and failing, but still persisting and pushing forward, is what sets you apart from everybody else. You can pay for the best coaches, sales scripts, and resources, but if you don't give the effort to practice them and apply the process, you won't reap the rewards.By taking action, even if you make mistakes in the process, you will learn and grow. You will gain insight into what works for your business, and with each error, you will become better and more efficient. Once you take the first step, everything else will start to fall into place. 

Every one of us has this antagonist outside of us, and it may be anyone or anything that we naturally stand against. But it's important to understand what is the antagonist to your success and what is holding you back from reaching your goals. We all have different struggles, and it's a must to identify what these are and how to overcome them. It's also important to look at where you're going wrong in order to make the necessary changes for success. A common antagonist that's stopping electricians from getting more jobs is when they stay in the "technician brain." This stops us from thinking of a strategy that focuses on selling the service. Without a strategy that helps us become more visible and market our services, we'll never reach the level of success they want. When we are in this state of mind, we also tend to disorganize our target market. Being in the "sales technician brain" is the sweet spot between being a technician and a salesperson. This is where electricians should be focusing their efforts in order to get more jobs. This state of mind allows us to think outside the box and come up with creative strategies that will help us reach our target market. This will help in establishing your target market, so you can focus on the right people and maximize your time. 

Being an electrician, you must ensure you can offer economical financing options to your customer, regardless of the level. The sad reality is that people often live from paycheck to paycheck. Your customers may not have a good financial framework that will allow them to pay for your services upfront. While you might not think this will affect you, it does. Not only do you miss out on job opportunities and establishing customer bonds, but you're also turning away from values. Remember, helping guarantee that your customers are safe in their homes and all electrical systems are working is a matter of providing a service that goes beyond money. This is where having two financing options comes in. Of course, financing companies do lend money to customers with good credit ratings. However, not everyone has a perfect credit score, so you should also look into offering financing through an alternative lender. When a situation arises where a customer can't afford your services, and the financing company has declined them, be the encouragement and comfort they need. Let them know that you've prepared for scenarios like theirs and that they can still move ahead with their project.When you can sell to your client in a way that benefits them in a personal level, they'll see you as a beacon of trust, and in this industry, trust is golden. You increase their chances of being loyal customers and referring you to their friends and family.As the saying goes, "Those who do good will receive it a thousand-fold," and that's especially true when it comes to customer service. Exceeding expectations, even in the hardest of times, will pay off in the long run.