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Ep 26 – Stop Charging by the Hour! How to Price for Value & Bigger Sales

⏱️ 22:04 🎀 Joseph Lucanie, Clay Neumeyer
AUDIO EPISODE
Ep 26 – Stop Charging by the Hour! How to Price for Value & Bigger Sales
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Chapters

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  • 0:00
    Welcome and Episode Focus
    Joseph and Clay introduce the podcast and today's topic: pricing for value on small service calls to build client relationships and increase sales.
  • 2:07
    Free Pricing Tool Offer
    The hosts announce a free pricing tool giveaway to help listeners assess their current pricing strategies and understand their true value.
  • 3:05
    Small Call Scenario
    Joseph and Clay discuss a common scenario: a customer calls about a non-working kitchen countertop circuit, which often leads electricians to assume a simple GFCI issue.
  • 8:10
    The Commodity Electrician
    Clay and Joseph define what it means to be a 'commodity electrician' and how it impacts pricing and customer perception.
  • 13:34
    Self-Fulfilling Prophecy of Pricing
    Joseph explains how electricians' assumptions about small calls can lead to a self-fulfilling prophecy of being seen as a commodity, and offers an alternative approach.
  • 20:35
    Be a Curious Student
    Clay suggests that instead of acting like an all-knowing expert, electricians should approach each job as a curious student to discover more opportunities and build value.
  • 24:52
    Rethinking Rate Increases
    Clay revises his usual advice to 'raise your rates' and instead encourages listeners to use their free pricing tool to understand their true value before making arbitrary changes.
  • 31:54
    Overcoming Fear of Raising Rates
    Joseph shares his personal experience and initial fear when raising rates, demonstrating that customer pushback is often less than anticipated.
  • 42:19
    Justin's Success Story
    The hosts highlight a success story of Justin, a contractor who increased his monthly sales from $25-30K to $95K in a typically slow month after implementing their strategies.
  • 48:25
    Final Advice and Call to Action
    Joseph offers final encouragement for those hesitant to change, emphasizing the minimal steps required to overcome the 'insurmountable' gap and thrive.

Speakers

J
Joseph Lucanie
Host
C
Clay Neumeyer
Host

Key Takeaways

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Stop diagnosing issues over the phone or mentally before arriving at the job site; assume there might be more involved to avoid poisoning your thought process.

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Be a 'curious student' on every job, even if you're the expert, to discover hidden needs and build more value for the client.

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Don't arbitrarily raise your rates; use a proven pricing tool to understand your true costs and value, then adjust your pricing strategically.

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Offer a range of solutions with clear pros and cons, allowing the customer to choose, which often leads to them selecting more than the bare minimum.

✦

Understand that the fear of raising rates is often internal; customers are less likely to complain than you anticipate once you articulate your value effectively.

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