3: How Job Costing Helps You Spot (and Eliminate) Your Low-Profit and Loser Jobs

• Every low-profit and “loser” job is wiping out the profit you’re making on other jobs!

• When you replace projects that lose money (or only yield minimal profits) with jobs that achieve your gross profit targets, you substantially increase your gross profit. (The podcast has “do-the-math” examples.)

• If different types of work yield different profit margins, use this information to shift your focus into higher gross profit work. Listen to the podcast to hear what this could mean in real cash-in-your-pocket changes.

• These two action steps can significantly increase your income –WITHOUT SELLING MORE, HIRING MORE PEOPLE, OR WORKING HARDER!

Get Diane’s Free Download: buildyournumbers.com/dave

#2: How to Locate and Charge for Lost or Invisible Costs

• If you DON’T job-cost, it’s easy to miss various Time and Materials (T&M) costs that accumulate on a job.
• Even when you charge a fixed price for your projects, you may very well encounter Change Orders as a job progresses.
• If you’re job costing, many software programs (such as QuickBooks desktop) will help you easily convert job costs into Invoices.
• If you fail to invoice your customer because you don’t see the costs related to each job, you’re losing:
  • The out-of-pocket costs for the related materials or labor, as well as
  • Your accompanying mark up.
  
  
• Missed invoicing means that you (and your family) are making costly gifts to your customers!
• When you can invoice based on accurate information, you’ll earn more WITHOUT SELLING MORE, HIRING MORE PEOPLE, OR WORKING HARDER!

Get Diane’s Free Download: buildyournumbers.com/dave

#1: Why Job Cost? + Ways to Use Estimate vs. Actual Reports

• Many company owners wonder why they should bother with job-costing. They think they can simply watch their checkbook and wait until tax time to see how they did LAST YEAR. Unfortunately, by then, it’s too late to fix the prior year’s problems. 
• The reality is that if you run your company without knowing your numbers, you’re “driving in the dark.” It’s not only unwise; it’s downright dangerous!
• Job-costing means you track, and can then SEE, the costs you incur and the income you earn for every job.
• When you use job costing to track your results, you’ll be able to use several methods to instantly SEE how to make a massive increase in your gross profits! 
• You can use “Estimate vs. Actual” reports to:
  • Spot variances while a job is underway. That means you can correct problems – long before they spin out of control!
  • Analyze “after-the-fact” results. You’ll be able to see precisely where actual costs were different than anticipated. You’ll be able to use that information to improve your ongoing operations.
  
  
• When you consistently review Estimate vs. Actual reports – and use the information to improve internal processes and reduce costs– you’ll earn more WITHOUT SELLING MORE, HIRING MORE PEOPLE, OR WORKING HARDER!

Get Diane’s Free Download:  buildyournumbers.com/dave

There are so many mistakes to be made in the area of markup and profit, and there are plenty of contractors out there making those mistakes--and those are the ones who can’t keep their businesses afloat. If your business isn’t as profitable as it needs to be, then you need to hear what Michael Stone has to say. He’s been with us in Episode 14 and Episode 66, and now he’s here to talk about the specifics that can keep you profitable.

What you’ll hear in this episode:

• Michael’s background: almost 58 years in construction; wrote a book in 1997, and started doing     seminars    
• Michael’s premise has always     been to help contractors help take care of their families    
• Out of 1300 contractors who have attended Michael’s 2-day seminar since 2014, only 4 have gone out of business    
• Michael’s book, Markup & Profit, originally published in 1999    
• The 6 most common reasons a contractor’s business fails (from Episode 14):    
• • Not charging enough for your work        
  • Failure to use proper change work orders        
  • Failure to use good, legal contracts        
  • Having too many employees for the volume of work        
  • Having an improper payment schedule        
  • Having a lack of profitable sales    
  
  
• Why you shouldn’t give bids for jobs    
• 90% of contractors go out of business because of not charging enough    
• The cold, hard facts: 32% of contracting businesses fail the first year, 57% don’t make it 2 years, and 74% fail by the end of their 3rd year    
• The difference in market-based and cost-based pricing    
• How to pay your employees top dollar because you charge top dollar    
• How to determine whether you’re using market-based pricing    
• Cost-based pricing means you don’t worry about competition, never adjust a price downward, never use     the word “free” in advertising, maintain the highest pay scale for ALL employees, work only on a fixed fee contract, and know when     to say NO.    
• Profit and overhead    
• The biggest myth in construction is that as your sales go up, you can cut your markup    
• Fixed overhead vs. variable overhead    
• How to calculate markup: Total sales divided by job costs equals markup    
• Markups that roofing contractors SHOULD be using    
• Why contractors feel guilty for charging more    
• Payment schedules and cash flow    
• The ratio of employees to dollar volume

Connect with Michael!

Find out about Michael’s courses, visit www.markupandprofit.com or call Michael at (360) 335-1100.

Markup & Profit by Michael C. Stone

Resources:

Download My FREE 1-Page Business Plan

Text Me @ (510) 612-1450 - Say Hi!

I would love to hear your feedback, pros & cons!

Get Diane’s Free Download A Tale Of 4 Companies

**Please leave me a review on iTunes!**

~Please Share My Podcast With Other Contractors~

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My guest for today is Todd Dawalt and he has an awesome podcast called The Construction Leading Edge. It's for business owners and contractors who would like to grow and do away with any disorder in their business. On the show today I have a really great conversation with Todd about ways to improve your business. And Todd has some great giveaways too, like a video series with a ton of really simple information that you can use to better your business. So be sure to listen in all the way to the end of the show!

Did you know that feedback is the breakfast of champions? It really is important that you give it to your people regularly, because as business leaders, we know that this is how you grow your company and your people. So we're also talking feedback today because we have to tell our people how things are, what can be improved on, and what we like, or don't like about what they're doing. Listen in to find out more.

What you’ll hear in this episode:

• Todd explains how he got to where he is today.    
• How Todd ended up in the sewer rehab industry in 2010/2011.    
• How Todd managed to grow and improve the business in three years.    
• Taking the stress out of construction.    
• Todd shares a fundamental mind shift in how to run a contracting business.    
• What operating your business from right to left means.        
• Starting with a vision and direction.    
• A great tip for managing your fear and anxiety.    
• How to avoid becoming a 'lid' on your business and keeping it from growing.    
• A fixed mindset vs a growth mindset.    
• Developing the confidence you really need.    
• Todd tells us about the controversial 'skilled labor delusion'.    
• Why you need to lead your people well.    
• Developing the skill to have the difficult conversations.    
• Telling your people what winning looks like and giving them some recognition really goes a long way.    
• The difference between selling and estimating.    
• About Todd's Contractor Sales Accelerator series.    
• Todd explains what he has to offer, and how you can get hold of it.

Connect with Todd!

To get Todd's free video series, The Secrets of Successful Contractors, go to www.constructionleadingedge.com/owner

For resources on leadership, selling, project management, or designing your business to operate from right to left, sign up for Todd's Construction Business Accelerator Program free ten-day trial at www.constructionbusinessaccelerator.com

Books Mentioned:

Lone Survivor by Marcus Luttrell

Mindset by Carol Dweck

Think And Grow Rich by Napoleon Hill

Resources:

Download My FREE 1-Page Business Plan

Download Diane’s Free Ebook: buildyournumbers.com/dave

Text Me @ (510) 612-1450 - Say Hi!

I would love to hear your feedback, pros & cons!

**Please leave me a review on iTunes!**

~Please Share My Podcast With Other Contractors~

THE ROOFER SHOW SPONSOR INFO:

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My friend, Brian Javeline from MyOnlineToolbox, joins me today and we’re going to be getting into “Marketing 101” for roofing contractors. We’ll drill down into how to get the best leads of all: the qualified leads. You’ll hear about how to bring qualified visitors to your website and learn how to convert them to prospects. This really is a simple plan for getting more quality leads and you’re not going to want to miss this!

What you’ll hear in this episode:

• Brian’s philosophy is a unique blend of basic marketing principles that are leveraged within the various available technologies. 
• Brian explains how he helps contractors build a brand with the target of getting sustainable, long-term quality leads over a period of time.
• The current environment has forced every business owner to rethink how they’re doing things.
• There are many things that you can do for FREE towards your 2021 vision. 
• Even if you’re currently in a strong position, now is not the time to let your guard down.
• Brian shares lots of insight and tips into what makes a good website.
• Two reasons why a search engine might block your website.
• Why your content and “About” page are so important.
• Brian provides this contractor's website as a real-life example of how one roofer went from having no online presence and nearly no business a couple of years ago, to having an abundance of work coming his way now. Listen in as Brian walks you through the website!
• Strategies to consistently get more quality leads through search engine optimization.
• Your website designer must be educated enough in your industry to be familiar with your images and material that they are uploading for you.
• Never underestimate the power of reviews! Here’s how to get them, along with some techniques for handling the less-than-stellar ones.
• The one thing that roofing contractors tend to miss when it comes to marketing.
• Don’t forget to check out my video lesson and Brian’s video lesson in the Contractor Success Academy, from Marc Levesque of Webrunner Media! And don’t forget to check out Marc’s past interviews on The Roofer Show HERE, HERE, and HERE.

Connect with Brian!

MyOnlineToolbox

MyOnlineToolbox on Facebook

MyOnlineToolbox on YouTube

Brian’s LinkedIn

Brian’s FREE Online Education Series!

If you fill out Brian’s Contact Form for the Basic Online Class, be sure to mention that you heard about it on The Roofer Show Podcast!

Resources:

Dave’s Video Lesson from the Contractor Success Academy

Brian’s Video Lesson from The Contractor Success Academy

Download My FREE 1-Page Business Plan

Text Me @ (510) 612-1450 - Say Hi!

I would love to hear your feedback, pros & cons!

**Please leave me a review on iTunes!**

~Please Share My Podcast With Other Contractors~

THE ROOFER SHOW SPONSOR INFO:

Need Help Answering the Phone Or Online Chat?

Use Ruby Receptionists!!

Find Out How They Can Help Bring In Leads!!

Click here and use the code Roofer50 for a special $50 discount!

https://www.callruby.com/roofershow

Or Call Ruby at (844) 326-7829

Check out the app!!

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If you have ever been involved with a legal dispute or if money has been withheld on your project you know that it can just suck the life out of you. And cost you a ton of money. In today’s interview with our legal expert Philip Siegel you’ll learn how you can review and escape these 10 killer contract clauses. Philip delivered this same talk to the Western States Roofing Association last June to an overflow audience. In fact, it was rated the #1 session out of 21 presenters. We talk about how you can create leverage in today’s booming economy, deal breakers that you must walk away from, the responses to one sided contract’s, and much more.

What you’ll hear in this episode:

• What Philip does and who he does it for

• Why Killer Contract Clauses is a popular topic

• How to create leverage for yourself by using the right contract

• The biggest deal breakers to look out for

• What is a pay if paid clause

• Major risk shifts in indemnification and how to attack these clauses

• Limiting coverage to claims to only cover claims due to personal negligence with the additional Insured

• The issues with language within wavers and releases

• Inserting provisions within contracts for scheduling and back charges

• Being on the lookout for change order issues and how to deal with them

• Creating clear provisions for building and design codes

• The importance of working with a professional to revise your contracts

• Securing builders risk coverage to prevent damages to work issues

• Acceptance of adjacent or contiguous work or work of other trades

• How the retainer program helps avoid problems upfront

• The hidden dangers of using independent contractors and subcontractors

• How to prevent employee poaching from your competitors

• What to expect from Philip’s upcoming talks in New York

Connect with Philip!

Philip's Phone #: (404) 522-1410

Philip's Email

Philip's Website

Best of Success Conference 2020

Links / Resources:

Tips, Strategies, and Download Free 1- Page Business Plan

Download My FREE 1-Page Business Plan

Text Me @ (510) 612-1450 - Say Hi!

I would love to hear your feedback, pros & cons!

**Please leave me a review on iTunes!**

~Please Share My Podcast With Other Contractors~

THE ROOFER SHOW SPONSOR INFO:

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Call Ruby

Or Call Ruby at (844) 326-7829

Check out the app!!

My Listeners Get a 21-Day Money-Back Guarantee!

The easiest way to generate more revenue is to increase your close rate. In Part 2 of today’s interview with contractor business coach Kyle Hunt, we discuss tips in each area of your sales process: The Initial Phone Call: What you must do to make a great first impression, 5 Powerful Words When Talking With A Roofing Prospect, The In-Person Meeting: How to prepare, what to bring, and the approach you should take, and No Project Left Behind: Your lead tracking, sales pipeline, and follow-up system. Get ready for this fast-paced and informative conversation to help you close more sales!

What you’ll hear in this episode:

• The wisdom of having a business coach
• Reverse engineering what you’re trying to accomplish
• Initial Phone Call is under-valued
• Making a good first impression
• Everyone you know is an opportunity to close new business 
• Every dollar spent on marketing should be held accountable
• Increasing your closing rate
• Organizing your sales pipeline - old school or new school, just do it
• Know your numbers!
• Fewer presentations mean you’ll have more free time
• Hacking at the leaves or striking at the roots 
• Tracking where your leads are coming from
• You make better business decisions when you have the data
• Following up! 
• Equal parts organization, creativity, tenacity
• Selling the way you like to be sold
• How can you follow up without using the words “follow up”?
• Following up with something of value 
• Getting past your fear
• Don’t discount texting as a valid way of follow up communication
• Test and try new things
• Take action and implement
• Dead leads tactic: the 10-word email that can turn things around!

Connect with Kyle!

Remodel Your Marketing

Remodelers Community - Facebook Page

Remodelers on the Rise Podcast

Loom: Video Messaging for Work

Kyle’s Email

Text: (517) 902-8450 - Text Kyle your takeaway!

Links / Resources:

Tips, Strategies, and Download Free 1- Page Business Plan

Download My FREE 1-Page Business Plan

Text Me @ (510) 612-1450 - Say Hi! 

I would love to hear your feedback, pros & cons!

**Please leave me a review on iTunes!**

~Please Share My Podcast With Other Contractors~

THE ROOFER SHOW SPONSOR INFO:

Need Help Answering the Phone Or Online Chat?

Use Ruby Receptionists!!

Find Out How They Can Help Bring In Leads!!

Click here and use the code Roofer50 for a special $50 discount!

https://www.callruby.com/roofershow

Or Call Ruby at (844) 326-7829

Check out the app!!

My Listeners Get a 21-Day Money-Back Guarantee!

The easiest way to generate more revenue is to increase your close rate. In today’s interview with contractor business coach Kyle Hunt, we discuss tips in each area of your sales process: The Initial Phone Call: What you must do to make a great first impression, 5 Powerful Words When Talking With A Roofing Prospect, The In-Person Meeting: How to prepare, what to bring, and the approach you should take, and No Project Left Behind: Your lead tracking, sales pipeline, and follow-up system. Get ready for this fast-paced and informative conversation to help you close more sales!

What you’ll hear in this episode:

• Business coach & consultant for business contractors
• Passion for helping business owners with proven, practical, simple, effective marketing and sales help
• You can’t be all things to all people
• Niching down to what’s more profitable 
• Why contracting is such a hard business
• Seeing the forest in spite of the trees
• People are willing to mentor
• If you’re feeling stuck, reach out and ask for help
• Initial phone call with a new prospect - what to do before, during, and after
• “This Is How We Work”
• Giving full, undivided attention 
• It’s the little things
• Why you should take a few minutes to research before you call
• Getting in the right mind-set
• What a project discovery sheet is
• What’s the goal of this call?
• Making sure they’re doing most of the talking
• Taking a minute after the call to consider what worked and what didn’t work
• Every meeting should have an agenda and a specific time
• An appointment confirmation email and what it should contain
• Be willing to try new things!

Connect with Kyle!

Remodel Your Marketing

Remodelers Community - Facebook Page

Remodelers on the Rise Podcast

Kyle’s Email

Text: (517) 902-8450 - Text Kyle your takeaway!

Links / Resources:

Download My FREE 1-Page Business Plan

Text Me @ (510) 612-1450 - Say Hi! 

I would love to hear your feedback, pros & cons!

**Please leave me a review on iTunes!**

~Please Share My Podcast With Other Contractors~

THE ROOFER SHOW SPONSOR INFO:

Need Help Answering the Phone Or Online Chat?

Use Ruby Receptionists!!

Find Out How They Can Help Bring In Leads!!

Click here and use the code Roofer50 for a special $50 discount!

https://www.callruby.com/roofershow

Or Call Ruby at (844) 326-7829

Check out the app!!

My Listeners Get a 21-Day Money-Back Guarantee!

The number one problem we entrepreneurs face in the contracting industry is how to find the best talent for our businesses. Danny Kerr from Breakthrough Academy joins me in this conversation about how to find the best people to recruit and retain. Listen in for your own takeaways as Danny and I cover hiring issues, how to build great teams, and industry trends.

What you’ll hear in this episode:

• Danny relates the prior experiences that led him to his current-day consulting, training, and coaching for contractors.
• Continuing to run your contracting business without some business acumen is dysfunctional.
• Breakthrough Academy is built for action-oriented people who need to apply what they learn right away.
• Dreamers that know what they want but don’t know how to fully implement their plans are often attracted to Breakthrough Academy.
• Danny discusses how coronavirus has affected the contracting industry.
• Danny shares the kind of effort and focus that should go into recruiting.
• Tips and strategies for attracting the right people.
• “Once you start to master recruitment and can bring in good people, you have to keep those people. And you can’t do that if you promise the world in the interview but don’t follow through.” - Danny Kerr
• Danny addresses leadership and its role in keeping the right people.
• You can apply the same principles of sales and marketing to your recruiting effort.
• Dave and Danny share their favorite hacks.

Connect with Danny!

Breakthrough Academy

To Get Danny’s Free Templates:

Breakthrough Academy - Strategy Session - Use code ROOFER

Enjoy This Additional Episode Featuring Danny Kerr

87: The 3 Keys to Success

Resources:

Download My FREE 1-Page Business Plan

Text Me @ (510) 612-1450 - Say Hi! 

I would love to hear your feedback, pros & cons!

**Please leave me a review on iTunes!**

~Please Share My Podcast With Other Contractors~

THE ROOFER SHOW SPONSOR INFO:

Need Help Answering the Phone Or Online Chat?

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Find Out How They Can Help Bring In Leads!!

Click here and use the code Roofer50 for a special $50 discount!

https://www.callruby.com/roofershow

Or Call Ruby at (844) 326-7829

Check out the app!!

My Listeners Get a 21-Day Money-Back Guarantee!