The Contractor Fight with Tom Reber

There are many pricing myths in the construction industry, and falling victim to them can have serious consequences. Today, Tom debunks some common myths that often misguide contractors in their pricing strategies and advises you to rethink yours and make more informed decisions to ensure the success of your business.   Episode Highlights: [00:00] - Common pricing myths that affect contractors [00:36] - Myth #1: Estimating is an exact science [02:07] - Estimating is part art and part science [02:54] - Myth #2: Clients will pay a premium for your reputation [03:28] - Clients pay for the value they believe they will get [05:25] - Myth #3: Low-balling guarantees contracts [06:27] - Tom’s experience of discounting bids in 2007 [09:01] - Myth #4: You need to pay attention to the going rate [13:06] - Myth #5: Estimates are non-negotiable once given [15:35] - Wrap-up Resources: 💰 You didn’t become a contractor to struggle financially. Download our worksheet and start calculating a 50% gross profit on every job. It’s time to get your shit together! https://thecontractorfight.com/50/  💸 Grab your copy of our FREE Contractors Guide to Spotting Cheap Prospects here: https://thecontractorfight.com/cheap  == Join us in BATTLEGROUND == Everything your contracting business needs in one comprehensive program with three main focus areas: Leadership, Communication, and Numbers. For more info, check out: https://TheContractorFight.com/Battleground  == Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook  == Grab the Gear == https://gear.thecontractorfight.com/  == Find Us on Social Media == YouTube: https://www.youtube.com/c/TomReber  Instagram: https://thecontractorfight.com/ig  == Rate the Podcast == Help your fellow contractors find the podcast! Please leave a rating/review!  Apple Podcasts   Spotify

Showing up half-heartedly to roleplays and training will not give you the full benefits and impacts your ability to listen and interact with real clients — Effortless training leads to poor client interactions. Tim and Derek discuss the importance of paying attention and holding yourself to a high standard during roleplay training calls.   In this episode, they discuss: The importance of paying attention to training calls to gain valuable skills and scripts Some members pay fees but do not give full attention during calls Keeping roleplay scripts consistent to build muscle memory  The impact of being present and engaged during training on real client interactions The need to be fully committed and present in all areas of life, not just business Resources: == Now get Shin-Fu Sales Training + Foundations courses together for just $499. Visit http://thecontractorfight.com/turkey to claim this limited-time bundle!  💰 You didn’t become a contractor to struggle financially. Download our worksheet and start calculating a 50% gross profit on every job. It’s time to get your shit together! https://thecontractorfight.com/50/  💸 Grab your copy of our FREE Contractors Guide to Spotting Cheap Prospects here: https://thecontractorfight.com/cheap  == Join us in BATTLEGROUND == Everything your contracting business needs in one comprehensive program with three main focus areas: Leadership, Communication, and Numbers. For more info, check out: https://TheContractorFight.com/Battleground  == Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook  == Grab the Gear == https://gear.thecontractorfight.com/  == Find Us on Social Media == YouTube: https://www.youtube.com/c/TomReber  Instagram: https://thecontractorfight.com/ig  == Rate the Podcast == Help your fellow contractors find the podcast! Please leave a rating/review!  Apple Podcasts   Spotify

The fastest way to make more money in your business is to sell at 50% gross profit or more, but many contractors believe that they can't sell a job at 50% gross profit in their local market. Tom is here to explain why and how any contractor can sell their work at a 50% GP in any area. He explains that 50% GP is location neutral, and with the right approach any contractor can sell their work at 50%.   Episode Highlights: [00:00] - Intro – the fastest way to make more money [01:28] - What is gross profit [01:53] - It is possible to charge 50% GP in any area [02:06] - Difference in pricing in NYC vs Boise [04:49] - 50% GP is location neutral [05:27] - The real reason why you aren't selling at 50% GP [06:14] - Grab our free 50% GP tool Resources: 💰 You didn’t become a contractor to struggle financially. Download our worksheet and start calculating a 50% gross profit on every job. It’s time to get your shit together! https://thecontractorfight.com/50/  💸 Grab your copy of our FREE Contractors Guide to Spotting Cheap Prospects here: https://thecontractorfight.com/cheap  == Join us in BATTLEGROUND == Everything your contracting business needs in one comprehensive program with three main focus areas: Leadership, Communication, and Numbers. For more info, check out: https://TheContractorFight.com/Battleground  == Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook  == Grab the Gear == https://gear.thecontractorfight.com/  == Find Us on Social Media == YouTube: https://www.youtube.com/c/TomReber  Instagram: https://thecontractorfight.com/ig  == Rate the Podcast == Help your fellow contractors find the podcast! Please leave a rating/review!  Apple Podcasts   Spotify

In this episode, the speaker emphasizes the power of silence and its role in effective communication. They share personal experiences and discuss the importance of listening and making meaningful connections with customers. Staying silent during pricing conversations is highlighted as essential, and the value of asking questions and practicing silence is emphasized.

Discover the challenges of working with budget-conscious clients and the importance of listening and understanding their needs. Learn about the power of open-ended questions in sales conversations and the significance of transparent pricing. Explore strategies for delivering cost estimates truthfully and the importance of providing excellent client service.

Tom Reber interviews Dominic Rubino, a business coach and host of 'Profit Tool Belt' and 'Cabinet Maker Profit System' podcast. They discuss the importance of strategic planning for contractors, focusing on key questions to develop a successful plan. They highlight the significance of systems and processes, execution of plans, accountability, and the challenges faced by contractors. They also touch on changing attitudes towards trades and the benefits of having a strategic plan in business.

Discover the power of practicing gratitude in the morning, how it improves outlook on life and relationships. Learn about expressing gratitude out loud and involving a partner to manifest desires. Explore the importance of gratitude in daily life and success, and how to incorporate it into daily routines for personal growth.

Today, Tom discusses a recent contractor fail that was reported in ABC 7 Chicago news. He shares the story of a homeowner unhappy with work done by her contractor, and takes a look at the key fails of the project and shares fixes for both contractors and clients on how to prevent similar failures from occurring in the future.   Episode Highlights: [00:00] - Intro [00:20] - The situation [01:19] - Contractor Fail: Scribbled estimate [02:14] - Contractor Fix: Have clear documentation [06:46] - Homeowner Fail: No proper contract [07:51] - Homeowner Fix: No project without a valid contract [08:37] - Don't itemize the job [10:00] - Economy of scale [11:21] - Run if no clear plan [11:58] - Closing thoughts Link to the original news story: https://www.youtube.com/watch?v=z5K_bFAAOBQ    Resources: == Now get Shin-Fu Sales Training + Foundations courses together for just $499. Visit http://thecontractorfight.com/turkey to claim this limited-time bundle! 💰 You didn’t become a contractor to struggle financially. Download our worksheet and start calculating a 50% gross profit on every job. It’s time to get your shit together! https://thecontractorfight.com/50/  💸 Grab your copy of our FREE Contractors Guide to Spotting Cheap Prospects here: https://thecontractorfight.com/cheap  == Join us in BATTLEGROUND == Everything your contracting business needs in one comprehensive program with three main focus areas: Leadership, Communication, and Numbers. For more info, check out: https://TheContractorFight.com/Battleground  == Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook  == Grab the Gear == https://gear.thecontractorfight.com/  == Find Us on Social Media == YouTube: https://www.youtube.com/c/TomReber  Instagram: https://thecontractorfight.com/ig  == Rate the Podcast == Help your fellow contractors find the podcast! Please leave a rating/review!  Apple Podcasts   Spotify

Like the animals on Darwin's Galapagos Islands, those who could change and adapt were the ones who survived. The same is true for contractors – they must change and adapt or risk getting left behind by their competitors.   Steve explains the importance of change for both business success and personal growth. He tells that the only constant in life is change. You must decide if you will change or stay the same. If you don't change, you will get left behind. In this episode, Steve discusses: How Darwin's theory of evolution made Steve reassess his business The changes Steve made in his business to reach $1 million sales goal Relationships and environments change over time – they require adaptability and growth Change is necessary for long term personal and business growth Embracing uncomfortable changes like public speaking and roleplaying to gain new skills Continuously learning and adapting your business to changing market conditions Resources: == Missed the Mile High Profit Summit in Denver? Don't miss out on the Summit recordings! Grab the opportunity to access the full summit content. Click: https://thecontractorfight.com/mhps-recordings == Now get Shin-Fu Sales Training + Foundations courses together for just $499. Visit thecontractorfight.com/turkey to claim this limited-time bundle!  💰 You didn’t become a contractor to struggle financially. Download our worksheet and start calculating a 50% gross profit on every job. It’s time to get your shit together! https://thecontractorfight.com/50/  💸 Grab your copy of our FREE Contractors Guide to Spotting Cheap Prospects here: https://thecontractorfight.com/cheap  == Join us in BATTLEGROUND == Everything your contracting business needs in one comprehensive program with three main focus areas: Leadership, Communication, and Numbers. For more info, check out: https://TheContractorFight.com/Battleground  == Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook  == Grab the Gear == https://gear.thecontractorfight.com/  == Find Us on Social Media == YouTube: https://www.youtube.com/c/TomReber  Instagram: https://thecontractorfight.com/ig  == Rate the Podcast == Help your fellow contractors find the podcast! Please leave a rating/review!  Apple Podcasts   Spotify

Finding your 'why' helps you stay positive even if the issues are outside your control! Tim discovered this when he took his large family on a vacation. From delays to disagreements during the trip, it was easy to get stressed. But Tim was able to make beautiful memories amid all this because he embraced the chaos and focused on what really matters – his 'why.'   The guys want you to do the same when things become tough for you. They want you to embrace the chaos, define your purpose, and prioritize what really matters, even during difficult times. In this episode, they talk about: How Tim embraced family travel chaos, prioritizing his 'Why' Learning how to deal with difficult situations Define your 'why' so you have clarity during chaotic periods  Don't sweat the small stuff and focus instead on your deeper purpose  Resources: == Missed the Mile High Profit Summit in Denver? Don't miss out on the Summit recordings! Grab the opportunity to access the full summit content. Click: https://thecontractorfight.com/mhps-recordings 💰 You didn’t become a contractor to struggle financially. Download our worksheet and start calculating a 50% gross profit on every job. It’s time to get your shit together! https://thecontractorfight.com/50/  💸 Grab your copy of our FREE Contractors Guide to Spotting Cheap Prospects here: https://thecontractorfight.com/cheap  == Join us in BATTLEGROUND == Everything your contracting business needs in one comprehensive program with three main focus areas: Leadership, Communication, and Numbers. For more info, check out: https://TheContractorFight.com/Battleground  == Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook  == Grab the Gear == https://gear.thecontractorfight.com/  == Find Us on Social Media == YouTube: https://www.youtube.com/c/TomReber  Instagram: https://thecontractorfight.com/ig  == Rate the Podcast == Help your fellow contractors find the podcast! Please leave a rating/review!  Apple Podcasts   Spotify