Episode Details

Know your numbers! The numbers reveal everything about marketing, profitability, and the longevity of your business! Are you marking up your jobs in the best way? Do you understand the information in your P & L statement? Do you know why you should NEVER cut your prices or price yourself according to your competitors? Join us to learn more in today’s show!

Michael Stone has over six decades of experience in our business, having coached thousands of contractors of all kinds to build stronger, more profitable businesses. He teaches hundreds of classes and seminars each year and is the author of Markup & Profit: A Contractor’s Guide, Revisited. Michael knows his stuff! Connect with him at www.markupandprofit.com. 

• Highlights of Michael’s extensive construction background

• Hear the ugly statistics and six main reasons why many construction businesses fail–and what you can do about them

• 8 warning signs that your business is not profitable and you are in BIG trouble

• How to structure owner’s compensation

• Why you should NOT cut your prices

• The difference between markup and margin–and how to figure them