The Contractor Fight with Tom Reber

Many contractors are stuck in a reactive cycle, managing crises instead of running a business. Discover how lack of systems can drain personal time and hamper growth. Learn the importance of implementing standard operating procedures and protective strategies to break free from daily chaos. Explore the benefits of role-playing and understanding customer personalities to enhance communication. Plus, find out how to turn your expertise into profitable consultations while safeguarding your valuable time.

Discover how many contractors mistakenly calculate labor costs based on wages, ignoring the hidden labor burden that truly affects profits. Learn what's included in that burden, from payroll taxes to unbillable hours. Tom shares a stark example of how a $25 wage can balloon to $36-$40 per hour in real costs. He emphasizes the importance of pricing accurately to avoid cash crises and offers three powerful strategies to reclaim profit. Finally, overcome the fear of price resistance by understanding that pricing realistically is crucial for survival.

Tim and Derek tackle the chaos in contracting businesses, revealing how poor organization drives away talent. They emphasize the power of an employee handbook as a leadership tool, setting clear standards and safety. The duo discusses building a positive company culture where kindness and happiness reign, alerting listeners to flag bad hires early. They highlight the importance of empathetic check-ins and protecting team members to foster trust. Ultimately, they encourage creating a workplace that feels like home for everyone.

Success in contracting isn't about laziness but tolerating chaos. Discover how to define your profit targets to steer clear of drifting. Learn the power of 90-day goals and prioritize leads and pricing for better execution. Uncover profit leaks from underpricing and lack of discipline. Review past projects to identify pitfalls and enforce non-negotiable standards to maintain order. Embrace accountability to enhance performance, and avoid repeating past mistakes as the year progresses.

Derek and Tim explore the pitfalls of confusing a business for a hobby, stressing the importance of numbers. They emphasize using slow seasons for strategic planning and refining processes. Learning daily operating expenses can build confidence and aid in scaling. Tracking accurate data helps improve close rates and sales processes. The discussion also highlights the impact of technology, like AI, on decision-making and cash flow forecasting. Ultimately, they encourage contractors to embrace financial discipline and aim for targeted revenue goals.

Contractors often feel a creeping panic due to uncertainty in their business. This fear, stemming from a lack of control over crucial numbers, leads to reactive decision-making. By focusing on cash clarity, controlling inputs, and raising standards, contractors can regain their composure. Emphasizing calm leadership over frantic hustle, the discussion encourages disciplined actions and simplifying operations to stay on track. Ultimately, it's about steadying the ship amidst chaos and leading with confidence.

After hitting big revenue milestones, it's crucial to check your ego. Viral success doesn’t guarantee sustained growth; effective systems and real connections matter. The hosts emphasize kindness as a fundamental leadership principle, highlighting the importance of making team members feel valued. They share insights on how social media can distort perceptions and encourage genuine connections instead. Leading with compassion and humility is vital for cultivating a successful and trusting work environment.

Eric Fortenberry, CEO of JobTread, shares insights on optimizing contractor playbooks for profitability. He emphasizes the importance of defining a clear mission and vision to align teams effectively. Delaying your first hire is a mistake; prioritize sales roles to maintain a healthy pipeline. Building a team of A-players and focusing on customer experience can elevate your business. Eric also discusses the necessity of embracing technology and measuring performance to streamline operations and improve financial outcomes.

In times of scheduling gaps, instead of panicking, see it as an opportunity to build a financial war chest and nurture team trust. Learn how consistent payroll and proper pricing enable predictable cash flow, allowing for planned off-seasons. Embrace downtime to work on shop improvements and marketing strategies. By intentionally scheduling gaps, you can keep crews engaged and aligned with your goals. Ultimately, focus on building reserves and caring for your team to ensure success in your business.

Transform your business by shifting your identity from a struggling tradesman to a million-dollar CEO. Discover how embracing a new self-image can dramatically boost your income. Learn about the vital transformations from order taker to sales pro, and survivor to future-minded millionaire. Tom shares compelling stories of contractors who increased their revenue by adopting a CEO mindset. Plus, uncover three actionable steps to redefine your identity and finally charge what you're worth.