The Profitable Tradie Podcast

“Maybe I should lower my prices to get more work”  “If prices were lower, vendors would accept more of my bids and I’d be making more money.”  It’s a natural thought.   The problem is you’d be slashing your profit margins.   And asking to go broke.  There are plenty of other things you can do to book out jobs which don’t involve cutting your pay. ...

“The stress of facing financial disaster is crippling”  The man who told me this had a good business from the outside.  1.5 million in revenue and 8 staff members.  But behind closed doors the business was losing money hand over fist.   And the owner, Luke, didn’t know what to do.  But he was different.  18 months on, his business has doubled its revenue and now...

Have you ever had a crack at marketing and not seen a penny back?   Maybe you’ve tried and given up?  Preferring to focus on word of mouth, the quality of work and relationships with other contractors.  Now these are crucial, don’t get me wrong.  But the downside is, if you’re short of work you can’t ‘increase’ your word of mouth.  Which can leave you in a tight spot....

There are so many marketing agencies around that it feels natural to hand control off control to them and forget about it.   But that is a huge mistake.  Marketing is the heartbeat of your business.  And if you put the wrong person in charge, your cash flow will suffer.  Don’t get me wrong, there are some fantastic agencies out there.   But too often you’ll get s...

Only you can destroy your business.  Until you take on a business partner.  Now the fact you read my emails leads me to suggest that you’re pretty good at NOT destroying your business.  So, let’s focus on how you can make sure somebody else doesn’t ruin it fopr you.  Now there are a bunch of reasons why you might bring on a business partner.  But all of them have one thing...

I want to die with $0 to my name.  And so should you.  Think about your bank account and imagine how difficult your life would be if that was all you had until the day you died.  You’d probably be very shrewd with your spending.   So why don’t we do that with our time?  Right now, we have a bank account with a limited amount of time.   It’s great that we use...

He did in 3 years what some business owners never do...  Built a sizeable business which can run on autopilot.  Now, it might not be your goal right now.  But it’s definitely a good goal to have because having a business that doesn’t rely on you is a top feeling.  Gaining freedom and a stress-free business was key for Duncan.  And the impressive part is that he started his...

Most business owners undervalue their work and many do it chronically.   When you don’t value the work you do, it leads to charging less than you could and should for the services you provide.  And not charging enough creates profitability and cash flow issues for your business.  Well, here’s the issue that too many trades buisness owners make.  They feel awkward about cha...

Want to know how to price so you win the job AND make profit?  It’s a very fine line.  It feels impossible to win jobs unless you eat into your margins.   Which is a deadly cash flow sin.   As we come to the end of the year, it’s obvious that pricing has been a big issue of 2023.  And it’s looking like it’ll be a business killer in 2024 as well.   Phil...

The more you grow the more you need this! At some stage most business owners have to think about how to market their business. One marketing activity that gets talked about a lot is Google Ads. But most business owners don’t fully understand how Google Ads work. As a result, they spend too much money for not enough results. Either through an agency or by spending hours trying to master it themselv...

I’m not implying you keep slaving away through the Christmas break. But holidays and vacations are coming up for the trades businesses. Most owners are thinking about shutting down for a few weeks to give themselves (and their team) a break. It’s a noble idea but most business owners haven’t thought through the consequences of a holiday shutdown. I see too many trades business owners who navigate...

Is there anything more disheartening than this… You’ve booked out work and things are looking busy. But then just to throw a spanner in the works, one of your guys quits. If you have a bigger company, you might even have a few resignations within a short period. It can be easy to look down on these guys. Almost like they abandoned you. But here’s the thing. The sad reality is that employees don’t...

He doubled his revenue. He drastically increased his margins. And he hired a GM so he could get off the tools for good. That sounds like a pipe dream for most trades business owners. But for Kieran Conroy it’s his reality. Before Kieran joined us he was working 60 hours, his gross profit was only 20% and his home life was quickly deteriorating. But very quickly he turned things around.  WHAT...

MEMBER INTERVIEW EXCLUSIVE: In this episode, we share a recent interview with our members, Josh and Sarah. They share their journey going from being stuck and not knowing what to do to now having a systemized business that doesn't rely on them. LINKS MENTIONED IN THIS EPISODE: Book a FREE 15-minute call to learn what coaching could do for you business Join our FREE private community of trades busi...

How do I get over the guilt of getting off the tools? It’s a tricky one. As Tradesmen we work hard!  Some might even say we work too hard.  And sometimes they're right.  Think about this.   The business owner who's in the trenches, making no profit and working 80 hours a week is praised more than the one who takes Fridays off because he's built a successful business. &nbsp...

It’s too easy as a business owner to get pushed around in your dealings with other people.    And you often feel like you have to do what the other person wants.  Maybe it's a big client you're bending over backwards for.  A supplier who you're letting off the hook for not delivering materials on time.   Or a valuable staff member that you're trying not to disgru...

We're always focusing on how we can improve our businesses. Ad in doing so we look towards all the tips and knowledge we've received down the line. But today we're switching it up. In striving to be the best, it's easily to lose track of the fundamentals. And just like in the trades, if you ignore the fundamentals your work will be no good. But there's a catch. I find that quite often these sorts...

Do you have staff that make mistakes, are inefficient, or have no initiative? It can be frustrating for sure and end up costing you a lot of money. Especially because these are super simple and avoidable mistakes. WHAT YOU’LL GAIN FROM TODAY’S PODCAST: Gain skills in how to effectively delegate and make sure they work is to your standard Understand that there’s a difference between what you want a...

Tradesmen and technicians make the best workers. We leave school and get straight into it while everyone else is fluffing around at College. We're hard as nails so no job is too big or too tough. And because of that we always crack on with it, we've got a reputation as better workers than you'll find in any other industry. So why then do we find when we start a business that all of a sudden things...

So you're making $9 Million per year. You have 70 guys in your workforce. You operate in three different states. Life is good right? Well let's peep through the cracks From the time you started your business you've just scaled up chaos. You're wearing all the hats in a business where you're stretched way too thin. You have no systems and as a result you have 50 guys all reporting directly to you....

 I can guarantee that you and all other business owners have had these thoughts.   "What if I spend the money to grow my business and the work drops off?"  "Maybe being busy is just a phase?"  "What if I hire a new guy and I can't give him enough work."  Look...  It's impossible to own a business without having some level of fear and uncertainty.   But...

Your business revenue is growing nicely and you're adding team members.  But when it comes to your profit margins, they seem to be falling.  And you're left thinking "WHAT THE HELL IS GOING ON?"  When you grow, you think your profit margin will just keep moving.  But you can get into real trouble if you don't understand this isn't the case, and what to do about it.  It can...

You only get to spend each hour of your workers’ time once. But so many businesses don’t measure what work is most profitable. And most don’t even think about it. Too many trades business owners are flying blind when it comes to the money side of things.   That means they’re neglecting their margins, which is the best proven method of RUINING your business. So the guys sat down and recor...

When you say yes to one thing, you're saying no to something else.  In business, saying yes to a job means that you say no to another one.   That other job might be more profitable, but you've already committed to something else.   Saying yes to doing a job also means you're saying no to watching your kid play sports.   Or spending some quality time with friends and f...

Do you ever feel like you're just shy of unlocking the secret to skyrocketing your business?  Well, the Stacey's were there not long ago.  Once struggling business owners.  Now the proud heads of a business which gives more profit and freedom.  How did they turn the tables in just a year? WHAT YOU’LL GAIN FROM IMPLEMENTING TODAY’S PODCAST: Understa...