Episode Details

Ok ok so the title here may be a little misleading but in all seriousness is it? 

So many times in business we “walk past” the 1%ers, the 5%ers, the $100’s, the $500’s, the conversations, the phone calls, the sentences etc etc that can generate revenue and drive profits. 

It’s time that we stop, collaborate + listen (Vanilla Ice style!) and pick up the easy $$ + low hanging fruit. 

Hope you enjoy the pod xx 

Summary

In this episode, Crowey shares candid insights on how business owners can maximize profit, minimize losses, and effectively scale revenue. He emphasizes the importance of detailed processes, clear communication, and disciplined financial management to unlock higher earnings and business sustainability. Key topics:

• The real battle in business: making money and not losing money
• Ideal profit margins across different revenue levels (20-35%)
• The significance of measuring net profit on every job and month
• How small expenses and overlooked conversations can erode profitability
• The power of timely quotes, follow-ups, and in-person communications
• The impact of mindset: speaking confidently and handling variations assertively
• Strategies for effective job planning, handling, and post-job analysis
• The importance of early and honest conversations to prevent losses
• How to avoid keeping average staff that erodes profit
• The value of disciplined quoting, invoicing, and tracking all variations
• Workflow tips: walking through projects, taking notes, and close scope management
• Building confidence by not belittling small amounts or conversations
• The necessity of early intervention and avoiding emotional decisions
• Business mindset: profit first, detailed focus, and proactive communication

Timestamps

00:00 - The challenge of making $100,000 an hour: business as a battle to maximize profits 

00:55 - Optimal profit margins based on revenue scale (20-35%) and how to aim for more 

01:23 - Why 'more' is always better when charging rates and margins 

02:50 - The critical role of driving revenue and keeping what you earn 

03:48 - How higher revenue correlates with higher profits—think big 

04:17 - Measuring and improving your company's ability to drive revenue and profit 

05:16 - The importance of not belittling small expenses or small conversations 

06:15 - How small oversights in invoicing and crediting can cost thousands 

07:44 - The impact of handling variations and scope changes assertively 

08:44 - Building a detail-oriented, profit-focused company environment 

09:39 - Real-world story: losing a $23,000 opportunity due to poor follow-up 

10:35 - How effective communication and follow-up win jobs and foster trust 

11:32 - Learning from mistakes: the cost of insecurity and delays 

12:58 - The power of a strong first impression and winning repeat business

13:27 - The importance of site walkthroughs, notes, and scope clarity

15:48 - The mindset of continuous improvement and handling insecurities

17:44 - The cost of over-optimism and undercommunicating during projects

22:27 - The three stages of a job: front costing, handling, and back costing

23:50 - Understanding unpredictable variables in electrical work and project handling

26:14 - The importance of timely quotes, follow-up, and in-person communication

28:48 - The art of conversations: avoiding over-talking and closing variations

29:17 - The formulaic approach to quoting, invoicing, and profitability

32:00 - Emotional versus disciplined quoting: formulas for success

33:38 - Starting or finishing jobs with proper planning