EPISODE 215: Many home improvement businesses manage to achieve high revenue but the owners are still not reaping the benefits. This happens because, more often than not, they make much lower profit margins than they COULD be making.

In an attempt to compensate for this, we end up working endless hours FOR our business each week, often sacrificing our health, mental wellbeing, and time with our family.

I know this because I’ve made these same mistakes before, and only by changing the way I worked and thought about my business was I able to turn things around.

And in this week’s episode of The Wealthy Contractor podcast, I’ve decided to share with you my 7-step guide to do the same for your business.

Tune in as I discuss how you can reverse-engineer a business model that generates wealth and freedom for you, the importance of setting up clear personal and professional goals as a business owner, the concept of “who not how”, and why you should focus on profit margins over top-line revenue.

I’ll also be talking about the importance of accountability in business, why you should work on your mindset more, and why you have to always begin with the end in mind.

Are you ready for this?

Tune in now to learn more.

Key Takeaways:

Introduction (00:00)

The industry’s dirty secret (04:16)

The seven steps to become profitable (05:41)

Clarity of outcome (06:55)

“Profitability instead of revenue” is a must! (10:30)

Convert your plan into a scorecard (14:35)

Why accountability matters (16:45)

Don’t allow others to dictate your schedule (20:48)

Focus on progress (24:57)

Eliminate roadblocks (26:36)

Never stop working on yourself (28:41)

Additional Resources:

⚡ Register for The Profit Workshop 2024: https://www.TheWealthyContractor.com/Profit

⚡ Learn more about The Wealthy Contractor Success Society: https://www.TheWealthyContractor.com/SuccessSociety

⚡ Brian’s book, The 7 Secrets To Becoming A Wealthy Contractor, is now available. Visit https://www.TheWealthyContractor.com/ for a free copy (just pay shipping).

⚡ Follow us on social media:

Facebook: https://www.facebook.com/TheWealthyContractor

Instagram: https://www.instagram.com/TheWealthyContractor/

LinkedIn: https://www.linkedin.com/company/TheWealthyContractor/

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The Wealthy Contractor is a podcast for home improvement professionals who want to grow their business, work less, and make more money. Follow us for more!

EPISODE 214: After working with hundreds and hundreds of home improvement businesses, from the very best to those that have struggled and failed, you realize there are a few things all the successful ones do, no matter what market they are in.

And no one knows this more than this week’s guest on The Wealthy Contractor Podcast, Dave Crowell.

Dave has a unique (and extensive) experience in the home improvement industry, having worked in dealer development, support, and training for some of the largest and most successful networks (I guarantee you’ll know them).

In this episode, I sit down with Dave to discuss why building a successful home improvement company always starts with good people, a strong culture, and effective leadership and how the people you surround yourself with can provide you with invaluable insights and support – if you’re willing to let go of some things and empower them.

We’ll also be talking about why the most successful owners leverage a network, the importance of adapting your marketing strategies to today’s market, how much effort you should put behind regular training sessions for your sales team, emerging technologies that provide opportunities unheard of a decade ago, and more.

Are you ready for this episode?

Tune in now!

Key Takeaways:

Introduction (00:00)

Why you need good people in your company (03:52)

The importance of being part of a community (07:53)

Is your marketing strategy good enough? (09:39)

Let’s talk about differentiation (15:39)

Why you should keep training your salespeople (19:25)

What makes a multi-million dollar business? (25:49)

Additional Resources:

⚡ Register for The Profit Workshop 2024: https://www.TheWealthyContractor.com/Profit

⚡ Learn more about The Wealthy Contractor Success Society: https://www.TheWealthyContractor.com/SuccessSociety

⚡ Brian’s book, The 7 Secrets To Becoming A Wealthy Contractor, is now available. Visit https://www.TheWealthyContractor.com/ for a free copy (just pay shipping).

⚡ Follow us on social media:

Facebook: https://www.facebook.com/TheWealthyContractor

Instagram: https://www.instagram.com/TheWealthyContractor/

LinkedIn: https://www.linkedin.com/company/TheWealthyContractor/

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The Wealthy Contractor is a podcast for home improvement professionals who want to grow their business, work less, and make more money. Follow us for more!

EPISODE 213: Are you working hard but finding yourself not making the profit you deserve? Then you might want to give this episode a listen.

No matter how much revenue you generate as a home improvement company, it might not be enough for you to really thrive in the current market.

One way to change that is to get your financial management in check and start focusing on better profitability. And that means structuring your books correctly, using your P&L to make decisions, and maintaining high gross and contribution margins.

To discuss this in more detail, I’ve invited an expert on the podcast, the brilliant Mark Curry.

Mark is from Revelare Home and he is a seasoned expert with nearly four decades of experience in the home improvement industry.

Today, Mark and I will be discussing the importance of accurate financial tracking and how high profit margins are attainable in our industry, which can provide a better life for you and your family.

We’ll also be touching on why so many P&L statements are inaccurate, the difference working smart (compared to working hard) can make in a business, the three types of decision-makers, which car we’d pick in a cross country race, and more.

Are you ready for this?

Then run, don’t walk, and listen to this episode now!

Key Takeaways:

Introduction (00:00)

Key indicators of a successful business (03:30)

How to make the right decisions (08:10)

Balance sheet vs P&L (10:29)

Is your P&L broken? (18:23)

Is your business able to survive the worst? (27:52)

P&L and margins (31:51)

Why you’re not actually making money (36:23)

Every day you’re buying your business (42:00)

Additional Resources:

⚡ Register for The Profit Workshop 2024: https://www.TheWealthyContractor.com/Profit

⚡ Learn more about The Wealthy Contractor Success Society: https://www.TheWealthyContractor.com/SuccessSociety

⚡ Brian’s book, The 7 Secrets To Becoming A Wealthy Contractor, is now available. Visit https://www.TheWealthyContractor.com/ for a free copy (just pay shipping).

⚡ Follow us on social media:

Facebook: https://www.facebook.com/TheWealthyContractor

Instagram: https://www.instagram.com/TheWealthyContractor/

LinkedIn: https://www.linkedin.com/company/TheWealthyContractor/

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The Wealthy Contractor is a podcast for home improvement professionals who want to grow their business, work less, and make more money. Follow us for more!