TCF1103: Stop Scaring Yourself Out of Your Price

⏱️ 27:37 🎤 Derek, Tim

AUDIO EPISODE

TCF1103: Stop Scaring Yourself Out of Your Price

0:00

Chapters

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0:43

Freedom Forge Event

The hosts introduce the Freedom Forge quarterly event in Dallas, focusing on financial literacy for contractors.
1:47

Importance of Financial Control

The hosts stress that contractors often don't know their numbers, leading to gambling instead of ownership in their business.
5:22

Focus on Money & Margins

The event focuses on protecting margins, paying yourself like an owner, and understanding job costing and net profit.
7:35

Event Costs & Speakers

Details about the event costs for members and non-members are shared, along with the notable speakers like Tom Reber and Steve Shinholzer.
16:54

Event Dates & Link

The dates for the Freedom Forge event are confirmed for March 12th and 13th, with a deadline to register and the website link provided.
30:17

Overcoming Sticker Shock

The discussion shifts to sales, specifically addressing the fear of presenting prices to clients and avoiding "sticker shock."
32:27

Creative Pricing Strategies

The host shares a personal anecdote about creatively de-scoping a project to fit a client's budget without lowering his rate.
36:44

Pre-Framing Pricing

Techniques for pre-framing prices to clients are discussed, including setting expectations and allowing them space to process the information.
52:31

Selling vs. Buying Habits

The hosts advise contractors not to let their personal buying habits influence their selling prices, emphasizing the value clients perceive.

Speakers

Derek

Host

Tim

Host

Key Takeaways

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Attend financial literacy events like Freedom Forge to gain clarity on your business's financial health, understand job costing, and learn to protect your margins.

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Don't let fear of 'sticker shock' prevent you from quoting accurate prices; learn to pre-frame pricing to emotionally prepare clients for the cost.

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Implement creative pricing strategies, such as de-scoping projects, to meet client budgets without compromising your rates.

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Practice "S.T.F.U." (Shut The F*** Up) after stating a price, allowing clients time to process the information without interruption or pressure.

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Understand that your personal buying habits shouldn't dictate your selling prices; clients perceive value differently.

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Actively manage your finances and investments, just as you manage your business, to build wealth and achieve financial freedom.

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How to Standardize Pricing When Every Job Is Different | Q&A →