  Know your numbers! The numbers reveal everything about marketing, profitability, and the longevity of your business! Are you marking up your jobs in the best way? Do you understand the information in your P & L statement? Do you know why you should NEVER cut your prices or price yourself according to your competitors? Join us to learn more in today’s show!  Michael Stone has over six decades of experience in our business, having coached thousands of contractors of all kinds to build stronger, more profitable businesses. He teaches hundreds of classes and seminars each year and is the author of  Markup & Profit: A Contractor’s Guide, Revisited.  Michael knows his stuff! Connect with him at  www.markupandprofit.com.     Highlights of Michael’s extensive construction background    Hear the ugly statistics and six main reasons why many construction businesses fail–and what you can do about them    8 warning signs that your business is not profitable and you are in BIG trouble    How to structure owner’s compensation    Why you should NOT cut your prices    The difference between markup and margin–and how to figure them  <li dir="ltr" style= "list-style-type: disc; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre;"...

337: How To Mark Up Your Jobs And Run Your Business By The Numbers with Michael Stone

If you’re a Roofing Contractor looking to grow your
business, make more money, and have more free
time this is the podcast for you. Your host Dave Sullivan has been a successful roofing contractor for over 30 years and he shares the good, bad, and the ugly of his experience in contracting.
Each week Dave interviews the industry’s top
experts to pull out their best business tips and
strategies that you can use to take your business to
the next level. Get the answers to the questions you have to the
day to day problems you face in the “real world of
construction” from those that have been there and done it.
Whether you have a shop of 1 or 100 there’s something here for you.

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Welcome! There are lots of changes and many questions about the new laws affecting our industry right now. Today’s episode is the follow-up to Episode 376 where Philip Siegel helped clarify the new laws in effect regarding the classification requirements for 1099 and W-2 employees. Philip is our trusted expert labor attorney and the go-to guy for this topic. He joins us to give more information and warnings that every contractor should take seriously. Join us to learn more! What you’ll hear in this episode:An overview of the 1099 vs. W-2 issue (the new law under the Biden administration compared to the former policy under Trump)Philip’s observations about wage and hour audits, OSHA investigations, and a whopping $1.2 million fineTwo hotspots for contractors: installation crews and salespeoplePhilip’s advice about the factors to consider in classifying employees correctlyDon’t ignore the facts!Fact #1: The chances of getting caught and facing hefty fines are increasing!Fact #2: Independent contractors must be free to work for other companies and reject work (to be classified as such)Understanding noncompete and nonsolicitation provisions–and what has changed, thanks to the FTC (Check out Episode 114 with Philip: How to Prevent Employee Poaching By Your Competitors.)Why should an employer have a non-compete provision?
Resources Connect with Philip Siegel: 404-469-9197, Email, and Website Set up a FREE strategy call with Dave and get a few tips on how you can improve your business:  https://davesullivan.as.me/free-strategy-call Interested in learning more about our 1-on-1 coaching, our mastermind groups, or our fractional professional services? Email me at dave@theroofercoach.com. or send me a text at (510) 612-1450. No Plan? No problem. Download our FREE 1-Page Business Plan For Roofing Contractors https://theroofershow.com/plan. Vetted Sponsors Of The Roofer Show Have RUBY answer your phones and tee up the sale by leaving a great first impression. Use this link to get up to $150 off your first month’s service: http://get.ruby.com/theroofercoach. Automate your Follow-Up and close more sales with PROLINE. Get started for FREE at https://useproline.com/. Use promo code “Dave50” for $50 off your first month’s service! Our newest sponsor, SMA Support Services, fills a need by empowering contractors to simplify and optimize their operational processes with virtual assistant and call center services. Explore what a virtual assistant can do for your contracting business. Check out SMA Support Services! (Tell them Dave and John sent you.) 
 


378: The Danger With Classifying 1099s: Update with Philip Siegel

Your profit depends heavily on how well you price your jobs. We covered this topic in our mastermind group today, and it’s always interesting to hear different perspectives about how contractors price their jobs and secure discounts from suppliers and manufacturers. You have to know your numbers and know what you should charge for a job in order to make money. John DeLaurier takes the lead in today’s show and breaks down his pricing process at Peach State Roofing. Join Dave and John to learn more! What you’ll hear in this episode:The important question is, “Can you pivot and move with the market?”John breaks down his pricing details on a $15k job with a 30% gross profit margin, including the specifics of the job, financing, labor, commission, material, etc. “Never judge a book by its cover” when it comes to customers and financing.Overcoming the challenge and the pressure to cut your profit marginsHow can another company do a job for half of John’s price? Let’s take a closer look at why this happens.John’s solution to the problem of a drop in leadsUsing paid ads and Google Local Service Ads for qualified leads–Is this a smart move or not?John’s advice to contractors who are in the trenches and fighting to do good work and make a fair profit
Resources: Check out our new YouTube channel! https://www.youtube.com/@DaveSullivanRooferShow Set up a FREE strategy call with Dave and get a few tips on how you can improve your business:  https://davesullivan.as.me/free-strategy-call Interested in learning more about our 1-on-1 coaching, our mastermind groups, or our fractional professional services? Email me at dave@theroofercoach.com. or send me a text at (510) 612-1450. No Plan? No problem. Download our FREE 1-Page Business Plan For Roofing Contractors https://theroofershow.com/plan. Vetted Sponsors Of The Roofer Show Have RUBY answer your phones and tee up the sale by leaving a great first impression. Use this link to get up to $150 off your first month’s service: http://get.ruby.com/theroofercoach. Automate your Follow-Up and close more sales with PROLINE. Get started for FREE at https://useproline.com/. Use promo code “Dave50” for $50 off your first month’s service! Our newest sponsor, SMA Support Services, fills a need by empowering contractors to simplify and optimize their operational processes with virtual assistant and call center services. Explore what a virtual assistant can do for your contracting business. Check out SMA Support Services! (Tell them Dave and John sent you.)

377: How To Price Your Jobs To Maximize Profit with John DeLaurier

W-2 employee or 1099 subcontractor? What is the right classification? While this has always been a question facing everyone in the roofing industry, things have changed and been turned upside down with the new law in effect since March of this year. Join us to learn more! Dave and John are joined by Philip Siegel, a labor/employment attorney with over 20 years of experience. He has made several appearances on the show to share his legal expertise and practical advice for contractors. There is much misinformation and confusion about the new classification guidelines, and Philip knows the facts and will steer us all in the right direction.  What you’ll hear in this episode:The facts according to the new Department of Labor rule on “the misclassification issue”John’s take on the issue as a roofing business ownerPhilip’s recommendations for most small-to-midsize roofing contractors, based on common questions about the new rulePossible lawful exemptions to the new ruleSpecific scenarios in which people will get caught in violation of the rule—and what the hefty consequences areTwo specific issues with subcontractor classification: calculating commission structures and using multiple crews to guard against overtimePhilip’s advice to put you in the WIN column on this issueDifferences between the Trump administration and the Biden administration regarding classifying an independent contractorTwo little-known factors that help classify an independent contractorThe importance of recording/documenting your communication with subcontractors–and how ProLine makes it easy for Peach State Roofing!Philip’s warnings about subcontractors’ safety training and working side-by-side with W-2 employees
Resources Connect with Philip Siegel: 404-469-9197, Email, and Website Set up a FREE strategy call with Dave and get a few tips on how you can improve your business:  https://davesullivan.as.me/free-strategy-call Interested in learning more about our 1-on-1 coaching, our mastermind groups, or our fractional professional services? Email me at dave@theroofercoach.com. or send me a text at (510) 612-1450. No Plan? No problem. Download our FREE 1-Page Business Plan For Roofing Contractors https://theroofershow.com/plan. Vetted Sponsors Of The Roofer Show Have RUBY answer your phones and tee up the sale by leaving a great first impression. Use this link to get up to $150 off your first month’s service: http://get.ruby.com/theroofercoach. Automate your Follow-Up and close more sales with PROLINE. Get started for FREE at https://useproline.com/. Use promo code “Dave50” for $50 off your first month’s service! Our newest sponsor, SMA Support Services, fills a need by empowering contractors to simplify and optimize their operational processes with virtual assistant and call center services. Explore what a virtual assistant can do for your contracting business. Check out SMA Support Services! (Tell them Dave and John sent you.)

376: 1099 or W2: Are You Putting Your Roofing Business At Risk? with Philip Siegel

What is your customer acquisition cost? What it’s costing you to acquire each customer is probably way more than you think! Reduced customer acquisition costs would mean more profitability for your business, which is a win-win for your bottom line. In this episode, Dave and his guest discuss improving your close rate, focusing on better quality leads, and a sure way to get more referrals. Join us to learn more! Brad Akers from Brad Grows Businesses developed The Built Right program to create scalable systems around sales and marketing for roofers and other home service professionals. His mission is to provide expert consulting and marketing services with a customized growth plan for each client.  What you’ll hear in this episode:Brad’s background story: how he learned business and marketing through a hands-on approach to entrepreneurshipThe #1 problem for small contractors in getting the right leads: not focusing on quality conversationsUnderstanding a true lead–and what it costs to get a true customer“Developing better sales skills may be solving the wrong problem.”Understanding the “control panel” in your business and which knobs and levers to turn for the desired resultsA look at ad spend, SEO, Google ads, and where your marketing dollars are really goingWhat is each qualified lead actually costing you? (Hint: Your estimated closing rate is probably WAY off!)Brad explains the concept of compounding.Brad’s process in generating three additional appointments from every jobThe benefits of compounding are maximized by providing a great customer experience and offering amazing rewards for referral partners.Follow the process!An overview of Brad’s program, The Built Right Contractor, along with group masterminds and one-on-one services
Resources Connect with Brad Akers:  Website, The Built Right Contractor, and 832-275-0581 Set up a FREE strategy call with Dave and get a few tips on how you can improve your business:  https://davesullivan.as.me/free-strategy-call Interested in learning more about our 1-on-1 coaching, our mastermind groups, or our fractional professional services? Email me at dave@theroofercoach.com. or send me a text at (510) 612-1450. No Plan? No problem. Download our FREE 1-Page Business Plan For Roofing Contractors https://theroofershow.com/plan. Vetted Sponsors Of The Roofer Show Have RUBY answer your phones and tee up the sale by leaving a great first impression. Use this link to get up to $150 off your first month’s service: http://get.ruby.com/theroofercoach. Automate your Follow-Up and close more sales with PROLINE. Get started for FREE at https://useproline.com/. Use promo code “Dave50” for $50 off your first month’s service! Our newest sponsor, SMA Support Services, fills a need by empowering contractors to simplify and optimize their operational processes with virtual assistant and call center services. Explore what a virtual assistant can do for your contracting business. Check out SMA Support Services! (Tell them Dave and John sent...

375: How To Reduce Your Customer Acquisition Cost with Brad Akers

We have a great show today featuring the most up-to-date technology in professional roofing quotes. Dave and John are joined by Phillip Kyker from SunX, a company that takes the guesswork out of estimating with precise roofing estimates and Xactimates on demand. Tired of wasting your time creating roofing proposals? Join us to learn what SunX can do for you! We welcome a new sponsor to our show! SMA Support Services fills a need by empowering contractors to simplify and optimize their operational processes with virtual assistant and call center services. Last week’s show (Episode 373) featured Chris Diroll, who gave a lot of information about what a virtual assistant can do for your contracting business. Check out SMA Support Services! What you’ll hear in this episode:Phillip’s background and the work he does at SunXJohn and Peach State Roofing love SunX services because of the speed and excellent customer service!The SunX process—and how it guides the homeowner in the right direction in the insurance processThe worst thing you can do is upset the insurance adjuster! SunX can help!What NOT to do in insurance roofing workThe difference in insurance and retail roofing proposalsUnderstanding Xactimates, a third-party software (owned by Verisk) that has become the industry standard for insurance roofingFactors that contribute to differences in estimatesCan an aerial view give a 100% accurate estimate?RCV, ACV, deductibles, and depreciated roofs: understanding how the insurance claim process works The big problems with insurance roofing: uneducated homeowners, corrupt insurance carriers, corrupt roofing contractors, corrupt homeowners, greed, and fraud (Get the picture?)Phillip’s best tips for listeners
Resources Connect with Phillip Kyker and SunX: Website, Email, or 843-503-8232 Set up a FREE strategy call with Dave and get a few tips on how you can improve your business:  https://davesullivan.as.me/free-strategy-call Interested in learning more about our 1-on-1 coaching, our mastermind groups, or our fractional professional services? Email me at dave@theroofercoach.com. or send me a text at (510) 612-1450. No Plan? No problem. Download our FREE 1-Page Business Plan For Roofing Contractors https://theroofershow.com/plan. Vetted Sponsors Of The Roofer Show Have RUBY answer your phones and tee up the sale by leaving a great first impression. Use this link to get up to $150 off your first month’s service: http://get.ruby.com/theroofercoach. Automate your Follow-Up and close more sales with PROLINE. Get started for FREE at https://useproline.com/. Use promo code “Dave50” for $50 off your first month’s service! Our newest sponsor, SMA Support Services, fills a need by empowering contractors to simplify and optimize their operational processes with virtual assistant and call center services. Explore what a virtual assistant can do for your contracting business. Check out SMA Support Services! (Tell them Dave and John sent you.)

337: How To Mark Up Your Jobs And Run Your Business By The Numbers with Michael Stone

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