I changed my business model about two winters ago and it's really working good.Okiecontractor said:My father asked me this evening since the year is nearly over what I plan on changing going into the next year. I know everyone has things in mind so lets here some of them.
Keep more money is actually more important. It's not what you make, it's what you keep :thumbsup:Take more time off that is goal number one.
Number two would keep better track of overhead. Have been bringing in so much money and haven't tracked where it is being spent as much as I should.
I'd worry about straightening out those numbers before doubling your business, and chasing down more leads.Be more organized. Flat out more organized. I need to keep better track of my overhead and profit for each job so I can track how accurate my quotes are. It looks like it evens out in the end but I might be losing money on jobs and not really know how bad.
I also need to double my business from last year. That will take chasing down a lot more leads an looking for new opportunities.
Markup and Profit is a good book but when there are folks in the same area as you doing business that can't read and low ball things it's hard to stick to the lessons in the book. If only everyone cared about making a decent profit we would all be close in our bids on work. Some people only think about today and not about what is going to happen during times of little to no work.I'd worry about straightening out those numbers before doubling your business, and chasing down more leads.
Markup and Profit is a good book to start with.
Good Luck :thumbsup:
I raise my prices every year and have never seen any loss of business over it.....you should NEVER skip raising it yearly...that just puts you further behind foreverI have price changes going in Jan 1. For the last three years I haven't changed them so it's time. I just hope the "low ballers" who will be out of business in a year won't affect me too much.
I usually raise my prices or offer a discount depending on what the supply house is doing. When I can pick up a box of cabling for 60$ as opposed to 95$ I can afford to offer 10$ off a box to a customer.I raise my prices every year and have never seen any loss of business over it.....you should NEVER skip raising it yearly...that just puts you further behind forever
I typically raise mine $3-$6 a year