Ok ok so the title here may be a little misleading but in all seriousness is it?Â
So many times in business we âwalk pastâ the 1%ers, the 5%ers, the $100âs, the $500âs, the conversations, the phone calls, the sentences etc etc that can generate revenue and drive profits.Â
Itâs time that we stop, collaborate + listen (Vanilla Ice style!) and pick up the easy $$ + low hanging fruit.Â
Hope you enjoy the pod xxÂ
Summary
In this episode, Crowey shares candid insights on how business owners can maximize profit, minimize losses, and effectively scale revenue. He emphasizes the importance of detailed processes, clear communication, and disciplined financial management to unlock higher earnings and business sustainability. Key topics:
- The real battle in business: making money and not losing money
- Ideal profit margins across different revenue levels (20-35%)
- The significance of measuring net profit on every job and month
- How small expenses and overlooked conversations can erode profitability
- The power of timely quotes, follow-ups, and in-person communications
- The impact of mindset: speaking confidently and handling variations assertively
- Strategies for effective job planning, handling, and post-job analysis
- The importance of early and honest conversations to prevent losses
- How to avoid keeping average staff that erodes profit
- The value of disciplined quoting, invoicing, and tracking all variations
- Workflow tips: walking through projects, taking notes, and close scope management
- Building confidence by not belittling small amounts or conversations
- The necessity of early intervention and avoiding emotional decisions
- Business mindset: profit first, detailed focus, and proactive communication
Timestamps
00:00 - The challenge of making $100,000 an hour: business as a battle to maximize profitsÂ
00:55 - Optimal profit margins based on revenue scale (20-35%) and how to aim for moreÂ
01:23 - Why 'more' is always better when charging rates and marginsÂ
02:50 - The critical role of driving revenue and keeping what you earnÂ
03:48 - How higher revenue correlates with higher profitsâthink bigÂ
04:17 - Measuring and improving your company's ability to drive revenue and profitÂ
05:16 - The importance of not belittling small expenses or small conversationsÂ
06:15 - How small oversights in invoicing and crediting can cost thousandsÂ
07:44 - The impact of handling variations and scope changes assertivelyÂ
08:44 - Building a detail-oriented, profit-focused company environmentÂ
09:39 - Real-world story: losing a $23,000 opportunity due to poor follow-upÂ
10:35 - How effective communication and follow-up win jobs and foster trustÂ
11:32 - Learning from mistakes: the cost of insecurity and delaysÂ
12:58 - The power of a strong first impression and winning repeat business
13:27 - The importance of site walkthroughs, notes, and scope clarity
15:48 - The mindset of continuous improvement and handling insecurities
17:44 - The cost of over-optimism and undercommunicating during projects
22:27 - The three stages of a job: front costing, handling, and back costing
23:50 - Understanding unpredictable variables in electrical work and project handling
26:14 - The importance of timely quotes, follow-up, and in-person communication
28:48 - The art of conversations: avoiding over-talking and closing variations
29:17 - The formulaic approach to quoting, invoicing, and profitability
32:00 - Emotional versus disciplined quoting: formulas for success
33:38 - Starting or finishing jobs with proper planning and team management
34:34 - Why keeping average staff costs you revenue and future profit
36:02 - The power of early conversations, early intervention, and hard truths
36:59 - Business as a balance of making money and avoiding losses
37:28 - The need for parameters, scripts, and discipline in sales and communication
38:27 - Final encouragement: drive revenue, maximize profits, and protect your business Resources & Links:
