"When should you charge 50% gross profit?" — Tom answers this common question asked by many contractors and breaks down the rule of thumb for achieving the 50% gross profit. He also addresses the common objections by some contractors, like "I'm a GC. 50% Gross Profit is not possible for me," and dispels myths around what industries can and can't hit the 50% mark.   Conversation Highlights: [00:00] - Intro [00:58] - What 50% gross profit means [01:47] - When should you charge 50% gross profit [02:21] - How can contractors charge 50% if they don't know their numbers [03:38] - GCs can charge 50% gross profit too [05:28] - Situations when a lower gross profit is acceptable [09:54] - Custom home builder charging 50% gross profit [11:22] - Wrap up Resources: The Mile High Profit Summit isn't your typical boring contractor conference. Our speakers are experts who will keep you engaged with valuable tips and tricks that will immediately impact your bottom line. You can say goodbye to boredom and welcome actionable insights to help you skyrocket your profits!  Visit http://MileHighProfitSummit.com and join us in Denver this September.  

TCF803: When Should You Charge 50% Gross Profit

Stop stressing out about your contracting business and take back control. The Contractor Fight is bringing respect and dignity back to the trades one contractor at a time. Discover how to market, sell, and consistently produce your projects at a profit with industry expert and powerful motivator Tom Reber.

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Are you hesitating on bids or avoiding big projects? Is your lack of self-confidence holding you back? Do you sometimes doubt if you’re good enough for a task or job? Tim and Derek address head trash – those negative thoughts and beliefs that can hold you back. They explain where these thoughts come from and how they negatively impact your life and business and share the tools to tackle them. In this episode, they discuss:How childhood experiences can impact feelings of insecurity later in lifeThe importance of identifying where negative thought patterns come from and working to change themTools to move on from past bad experiences or negative self-talkBeing aware of how you react vs. respond to triggersEmbracing who you are instead of worrying about what others thinkSurrounding yourself with positive people who help you overcome limiting beliefs

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TCF902: Head Trash

This is not a drill, and the results matter! Tom lays down some hard truths about the high stakes of running a business. Every choice you make either helps your business succeed or holds it back. He delivers a wake-up call to all the contractors to make efforts to improve their sales skills so it doesn’t hinder their success. The results of your efforts truly matter. Episode Highlights: [00:00] - Everything you do matters [01:40] - The 2 types of salespeople [02:41] - True sales success [03:47] - Importance of role-playing and consistent practice [05:17] - Sales is a perishable skill [07:00] - Programs to get better at selling [08:10] - Closing remarksResources: 

TCF901: This is NOT a Drill

What is swagger, and why should contractors care about developing it? Tim and Derek discuss the importance of swagger for contractors and how to develop it. They say swagger isn’t just about being loud or boastful. It’s a way of carrying yourself with confidence through your posture and communication style. Swagger gives contractors confidence when speaking to clients and making sales. In this episode, they discuss: 
Swagger, it’s importance for contractors, and how to develop itHaving an abundant mindset when selling, i.e., believing in yourself and your abilities even if you don’t have money or success yetStories about how Tim and Derek have grown their swagger The value of being honest and taking responsibility when mistakes happenSurrounding yourself with people who want to win

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TCF900: Swagger

Do you feel like you’re learning business the hard way? Taking punches you didn’t see coming? Well, as a business owner, you’re all students of business whether you like it or not. You are gonna pay tuition no matter what — either by taking punches through trial and error or by investing in coaching upfront. Tom is here to tell you that the smartest thing you can do is commit to coaching like any other important business expense, learn faster, and avoid costly mistakes. Episode Highlights: [00:00] - Story of a contractor who underbid a job [00:39] - Tom’s early days in business [01:21] - Being prepared in business [02:09] - When Tom got into a fight unprepared  [04:38] - Going into battle unprepared leads to losses [05:08] - You will pay tuition one way or another [06:32] - Financial loss due to lack of preparation [09:11] - Commit to coaching to dodge costly mistakesResources: 

TCF899: You Will Pay Tuition No Matter What

Steve is back with another three branches from the Tree of Life. Today, he discusses Permission, Rescue, and Takeaway techniques that you can use during your sales conversations. He wants you to learn and practice these techniques to improve your sales, close deals with happy clients, and make more money. Steve has previously covered STFU, Falling on the Sword, and Bracketing techniques of the Tree of Life of Shin-Fu sales methodology.  In this episode, Steve talks about:The 3 branches in the Tree of Life (sales techniques):Permission – Asking for permission before asking questions or personal information. This helps build trust with the prospects.Takeaway – Taking away parts or options of a job if it seems like they are not interested. When something is taken away from people, it makes them want it more.Rescue – Coming to the rescue when a client seems unsure or struggling

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TCF803: When Should You Charge 50% Gross Profit

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