Today, Tom is taking it back to the fundamentals of running a successful contracting business. Join him as he offers a crash course on basic contractor business, explaining the key terms of the business world in simple language to help contractors understand the numbers behind their business.
Conversation Highlights:
[00:00] – Intro
[01:50] – Revenue
[02:15] – Sales
[03:14] – Cost of goods sold/ Direct costs
[05:50] – Gross profit
[06:52] – Overhead
[08:31] – Break-even point
[10:34] – Net profit
[12:58] – Cost per lead
[13:46] – Cost per sale
[14:03] – Closing rate
[14:22] – Average sale
[15:47] – Closing remarks
Get your free Contractor Math Cheat Sheet and dive deeper into these concepts. Get access to it here: https://thecontractorfight.com/math/
Resources:
💰 You didn’t become a contractor to struggle financially. Download our worksheet and start calculating a 50% gross profit on every job. It’s time to get your shit together! https://thecontractorfight.com/50/
💸 Grab your copy of our FREE Contractors Guide to Spotting Cheap Prospects here: https://thecontractorfight.com/cheap
== Join us in BATTLEGROUND ==
Everything your contracting business needs in one comprehensive program with three main focus areas: Leadership, Communication, and Numbers. For more info, check out: https://TheContractorFight.com/BattlegroundÂ
== Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook
== Grab the Gear ==
https://gear.thecontractorfight.com/
== Find Us on Social Media ==
YouTube: https://www.youtube.com/c/TomReberÂ
Instagram: https://thecontractorfight.com/igÂ
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