TCF828: The Secret to Gross Profit for Contractors

Tom continues his discussion on gross profit — often misunderstood but a key component of running a profitable business in the contracting world. The better the gross profit, the better experiences you can provide to your clients, employees, and your families. He also shares why contractors need to be aiming for 50% gross profit — anything less makes it challenging to do business in the long term.

Episode Highlights:

[00:00] – Intro
[01:05] – Five reasons to aim for 50% gross profit
[01:24] – The fastest way to make more money
[03:01] – Contractors deserve to be paid well
[05:30] – Financial goals are met with fewer jobs
[07:01] – Overhead recovery is easier
[09:20] – Provide better experiences for all
[11:09] – Wrap-up


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