Fixed Bids Burned Me — T&M Turned It Around

Adopt a fully transparent Time and Materials (T&M) billing model to accurately track costs and ensure profitability, especially when labor costs fluctuate unexpectedly.

Prioritize client trust and project fit over ego-driven projects; vet clients thoroughly to ensure alignment with your business model and profitability goals.

Understand your true costs and set appropriate margins (e.g., 40% for low-volume businesses) to avoid financial losses, even on seemingly prestigious projects.

Build 'unforeseen' time and cost into every project, as unexpected issues are inevitable; be prepared to charge for these realities.

Develop systems and efficiencies for repetitive tasks to maintain motivation and productivity, turning monotony into an opportunity for improvement.

Re-evaluate work-life balance regularly; spending quality time with family can be more valuable than additional work hours, and it leads to smarter work habits.

Base your service model on how you'd want to be treated as a client, especially in live-in remodels, emphasizing trust, communication, and minimizing disruption.