103 - Pricing, Branding, & Scheduling

In our final episode of the year, we’re doing something a little different. We’re basing this deep dive around a question one of our listeners sent in via email! They asked about pricing – specifically, how to navigate making your own prices when inflation and other conundrums hit. We felt inspired to break down the answer to this question since it’s currently a dilemma that ALL contractors are having. Listen to the last episode of 2021 to talk pricing and other essentials you should have straightened out before entering the new year.

Show Notes

  • 00:00 - Intro

  • 01:55 - Highlights of the Year

  • 06:05 - Marketing for Contractors

  • 11:20 - Pricing Conundrums

  • 20:50 - Martin’s Wordkeeper Story

  • 22:30 - Under Promise, Over Deliver

  • 23:50 - The Issue of Surcharges

  • 30:00 - Consumer Price Index

  • 31:00 - Inflation in the 70’s

  • 35:20 - Martin’s Article - What is Money?

  • 39:30 - Why You Need To Be Reasonable With Prices

  • 43:29 - How Measuring Brings Clarity

  • 44:50 - Scheduling Issues Arise

  • 51:50 - Outro & Recap


Quotable Moments

  • “When you're really focused on branding, focused on the long term, you can start to make some of those plays and get better word of mouth referrals, the right word of mouth referrals, and really amplify that.” – K

  • “Marketing doesn’t need to be some massive effort.” – K

  • “When it comes to pricing, expectation is everything.” – K

  • “You need to include design in your pricing. Charge for your design. They can pay for it and take it to any other contractor or they can stay and work with you and that fee can apply to your work.” – K

  • “For most contractors, if you’re in a place where you’re saying “yes” more than you’re saying “no,” you’re probably not in a good place. You should be turning away some work.” – K

  • “A surcharge is an extra line on your quote and its intent is to recover some temporary charges.” – M

  • “I’m telling every client I have that they need to raise their prices while inflation is up right now. Consumers will try and push back but everyone knows prices are going up.” – M

  • “Get the software. I know it might be a little more but it can work for you rather than you having to work for it.” – K


Resources


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104 - Finding Your Rhythm

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102 - Less Stress