Contractor Business Math: What is Overhead? | TCF832

It is important to understand your overhead if you want success in your business. Pricing jobs correctly, setting sales and lead generation goals, or hitting profit targets become impossible when you do not know your real overheads. In this quick episode, Tom breaks down what overhead really means for your contracting business.

Episode Highlights:

[00:00] - Intro
[00:48] - What is overhead
[02:26] - Fixed expenses
[03:08] - Variable expenses
[03:49] - Understanding overhead is important for financial success
[04:48] - 50% GP – fastest way to make more money

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Tom Reber is an entrepreneur, business coach, podcaster, leader of The Contractor Fight, creator of Contractor Fight TV and HGTV host. Tom's content has helped hundreds of thousands of home improvement contractors improve their lives and businesses.

The Contractor Fight is the ultimate resource for becoming an uncommon contractor!
Pick a fight with mediocrity. Live Unafraid.

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[OFFICIALINTEGRITY]

This is the exact conversation we've been having the last 2 weeks..

[jeffalan]

I am going to relocate.
Not just myself other tradesmen have had slow past 4 some 5 years in projects
2 have gone out of business, a handyman this year he hasn't had one project, the stress was enough it killed him
I know look in the mirror motherfuckers.
I have either to relocate or lose it all.
Yes I have posted before town of cheap people, want it cheap or free.

One that we not under was a 40 year concrete company.
The other as builder.
Even lost sandwich shop of 30 years.
And family video, Aldi's, advance auto, pizza hut, Kentucky fried chicken numerous small businesses.
The state told me at contractor license renewal 7 subs or more are filing wage claims.

Yip it is us, better get in line look into the mirror.