Most contractors that we come across have an obsession with being busy...
But, as a business owner, your goal in business shouldn’t be to just be busy…
Your goal in business should be to make profit!
And a damn good profit at that!
If you’ve got plenty of work coming in but you aren’t making good profit on top of a good salary, appropriate to your role, as a reward for the risk you take on, the stress you endure and the headaches you constantly face when running a business…
Then what’s the point…?
You’d be better off getting a job!
Seriously…
There’s far less risk, headaches and stress to earn just about the same amount of money…
Honestly... I couldn't tell you how many trade business owners that we come across, whether they're turning $100K or $1M, who are paying themselves are measly $500 a week and then reinvesting their small amount of profit back into the business...
Now, this might seem like the right thing to do…
But 9 times out of 10, this mindset continues for years, if not decades, and the owner never really gets rewarded for their efforts…
In fact, statistics show that out of every 100 trade business owners by age 65, only...
• 1 will be independently wealthy,
• 4 will be financially secure,
• 24 will be working out of necessity,
• 40 will be reliant on the pension, and
• The rest will have passed away...
They’re pretty tough statistics, but it's the unfortunate reality of trade business ownership today...
Trade business owners working as much as possible, in the hope that they’ll have made enough at the end of each month to cover costs and have a little extra pocket money on top….
If you can’t make your current operation profitable… Then there’s very little hope in hell that by growing it, you’re going to just start randomly making more profit…
At the end of the day, it’s not how much your business MAKES that matters… it’s how much you KEEP after your overhead costs, job costs, field salaries and a fair wage to you is paid for the role that you play!
So, STOP working your ass off just to be busy and broke... and START prioritising profit over busyness today!
That amount left over is Net Profit… And that’s what business is all about!!!
If you're an electrician, plumber, painter, carpenter, or any other trade business owner who is looking to take your business to the next level, click here to learn more about how our team can help!
