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The real reason Plumbing, Electrical and similar service business owners don't have enough cash... despite being too busy... If I had a dollar for every time a business owner told me they just need work harder and get through a few more jobs each month then their issues will be solved. I'd have so much money I would be posting this from the Greek Islands🍹🍹🍹 For a few of you who are building your business up from scratch or have taken over a business that was on the decline, yes, you may need more jobs and customers to make sure your tradespeople or techs are busy. But most of you have enough jobs and customers. In fact, you’re too busy. 🏃‍♂️ Your big problem is you don’t have enough profit and cash to pay your bills on time and pay yourself the wage and profits you deserve. You’ve allowed your business to greedily eat up all the money it currently makes, with little left over, and often coming up short. Sadly, that problem is made worse by another problem you have accidentally created. You don't charge enough. Your margins are out. You are still pricing jobs with your own wallet. You think you can't get the price the job is worth, so you discount. Maybe you say to yourself “I’m not discounting” but you have a bunch of different rates for different customers… which is discounting by another name. And if that isn't enough, you also spent too much money trying to live a business owner lifestyle before you had the structure in place for you and your business to afford it. Don't believe me? How many vans or trucks does your business pay off? How many toys or new pieces equipment have you bought without checking your financials to see the effect of withdrawing that money? 💰 How many times have you hired without costing out the role completely, and understanding the break even point for the new hire? You've been focusing on getting jobs finished so you can invoice them out. You've been measuring your success, or lack of it, based on your ability to punch out more jobs and make more sales. How often have you looked at your bottom line, your net profit, which is the only true success indicator in business? If you look at your net profit figure, you scratch your head as to why that money isn't in your bank account. 💸 Perhaps your accountant hasn't explained it to you properly, but that net profit figure is an accounting profit only, an "on paper" profit. You've already spent that money on some of the things I've mentioned above. If you have tax debt or loans the business pays, those payments come out of that net profit figure. Worse, you pay tax on the profit figure, and if you haven't set aside an account for saving tax, well, you don't have the money to pay it. You get caught in a cycle of scraping up enough money to pay bills and pay wages. You scurry around invoicing everything you can and getting on the phone to your slow payers. Sometimes, even the wages, suppliers and tax payments are touch and go... Your revenue may even be well into 6 figures each month, but you still can't work out how to get everything paid. It's a stressful and ultimately disastrous way to run a business. You never catch up. I can see why you think just having more customers will be the answer. I once thought it was the answer too. But it's not. Bringing in more customers before you can efficiently handle them and ensure you’re banking profit off every job makes your problems get worse, quicker. A bigger business is not best, a better one is… And by better, I mean more profitable. You get a better business that pays you a market rate salary, one that gives you a profit each month, and one that doesn’t run out of money, by following a very specific structure. It requires focus, discipline, and letting go of the ego that is stopping you from asking for help with understanding your financials, and with what Plumbing, Electrical or similar service business specific metrics to measure and improve…like labour utilisation, gross margin, net profit margins and conversion rate. It requires a specific process for pricing your jobs. And, it also requires a spending freeze. You read that correctly. That spur of the moment, make you feel good spending, gets FROZEN. No more buying until your financial structure is in place, and we start crushing your debt, and bring your cash flow back off life support. And that is where some of you will stop reading this post. But for those of you that read on, read this... This endless struggle cycle you are in.... That can end. For nearly a decade, I’ve helped plumbing, electrical and other service business owners like yourself dig themselves out of the daily grind and increase their profits and growth opportunities – and all without having to take on more work. My team and I have developed a comprehensive program called the ‘Million Dollar Tradie System’. 🔣 Through training, cutting edge tools and practical, common sense strategies, we’ll help you lay the groundwork for financial success in your business. Once your financial numbers are on track we then work on: 📈 Sales (getting more clients to say YES to higher rates) 👷‍♂️ Hiring (assembling a team that loves to work for you) 💥 Marketing (getting your business in front of more prospects) ⌚ Time Management (ending procrastination, doing more in less time) Our program has been road-tested by hundreds of other trade business owners who were struggling to make the money they wanted and knew they could do better. By this time next year, things can look completely different. In 90 days’ time from now things can look completely different. You've run your business the way you have for years. Will you commit to the next year to making it better? It's a simple question, but one with very big implications... What is your answer? If you’re interested and intrigued by the notion of running a highly profitable business, instead of what you’re currently doing…. Then let’s talk one-one-one over the phone. https://hubs.li/Q02w6yZW0 Fill out the quick form above and tell me about you and where your business is at. We’ll use that to prepare for the call and come up with some ideas that you can use right away to kick this thing off. 🛑Our Million Dollar Tradie system works best for a certain type of people. 🛑 You own a trade business (Plumbing, Electrical, Painting, Glazing, Tiling, Landscaping or similar business...no builders). You will have been in business for at least a year. You’ll be turning over at least $40K and up to $400K in sales per month. And have a can-do attitude. If that’s you, click on the link now. https://hubs.li/Q02w6yZW0