Dive into this "Where's My Profit?" episode to uncover the financial missteps holding back trade business owners and discover actionable strategies that can dramatically boost your profits!

🔥 Key Insights & Strategies:

Undercharging: Many tradies, like our featured guest Chris, a plumber from Melbourne, fall into the trap of charging too little for their expertise. Learn why quoting per job, not per hour, could multiply your profits.
Quoting Strategies: Stop quoting hourly rates over the phone. Instead, price your services based on value delivered, not just time spent, avoiding the pitfall of price shoppers.
Materials Costing: Adjust your markup strategies based on material costs. Small increases in markup on low-cost items can significantly boost profit margins.
Review Practices: Regular review of job quotes and actual costs can prevent profit leakages. Implement 'job autopsies' to understand where you're losing money.
Pricing Psychology: Dive deep into how pricing impacts customer perception and attracts quality clients who appreciate value over cost.
Operational Efficiency: Simple changes in operations, like optimizing travel routes or purchasing strategies, can save costs and increase efficiency.

📚 References in this episode:
Pricing Psychology 101 podcast episode

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Ready to revolutionise your trade business? Press play and let's get into it! 🎧