Episode Details

Ok so if you saw a job in a very simple format it would be as follows: 

-front costing (ie the quote / proposal) where you put forward a dollar amount of what you think you can do the job for

-handling (ie the on site stage) where you deliver the on site work (ie labour + materials) 

-back costing where you check the job for gross + net profit 

-reflection where you decide “yes let’s do that again” or you decide to stop or change something 

-making sure the billable hours across the day made sense 

Between all these stages there is a baton change where items can go wrong. 

If the job lost money there are many questions to ask like was it quoted properly? Was it handled properly? Did the labour blow out? Did I miss variations? Did the materials cost more than I thought? There are 100 more to ask for sure, but you get the gist.  

It’s so important that in our “busy” lives we stop and measure the one thing that actually matters: profit. 

Don’t settle for anything less. 

Enjoy the pod xx 

Summary

This episode offers practical insights on how to increase profitability in your business by focusing on the critical stages of job costing, handling, and back costing. Learn how to identify where money is lost, improve quoting accuracy, and build stronger client relationships for sustained success.

Keywords

business profitability, job costing, quoting, client relationships, profit margins, business growth, construction business, project management, financial metrics

Key Topics

Job quoting and front costing

Handling and on-site performance

Back costing and post-job analysis

Takeaways

Focus on the three stages of a job: front costing, handling, and back costing.

Build relationships over visuals; trust and reputation matter more.

Back costing reveals the true profitability of each job.

Regularly review and analyze job performance to identify profit leaks.

Pricing should reflect true costs, including variations and transition risks.

Titles

Mastering Job Costing for Maximum Profit

The 4 Key Stages to Boost Business Profitability

Sound Bites

"Relationship trumps quote visuals."

"Every baton change in a job is a risk."

"You know what works, so why veer from it?"

Chapters

00:00 Introduction and Excitement for Japan Trip

00:58 Understanding Money Management in Business

04:49 The Importance of Relationships in Business

08:39 The Three Stages of Job Management

12:27 The Significance of Back Costing

18:42 Measuring Profitability and Performance

24:51 Building Long-Term Client Relationships

30:58 The Need for Change and Adaptation