EP248: Why Most Contractors Are Failing (And How to Fix It) with Weston Zimmerman

Prioritize knowing your numbers: Understand your job costing, overhead recovery, and profitability to ensure your business is sustainable and growing.

Streamline your estimating process: Aim to provide proposals quickly, ideally before leaving the client's property, as being the first quote back significantly increases your chances of winning the job.

Don't negotiate on profit without adjusting scope: If a client requests a lower price, ensure you're reducing the scope of work rather than cutting into your intended profit margins.

Invest in effective software: Utilize tools that integrate budgeting, estimating, scheduling, and time tracking to avoid using multiple disjointed systems.

Regularly job cost: Treat job costing like aiming a rifle; continuously review your actual costs against estimates, make course corrections, and adjust your pricing strategy.

Leverage financial coaching: Seek expert guidance to set up logical and sound budgets, ensuring your financial plans will actually lead to profitability.

Understand your hourly rate: Use tools to calculate and sanity-check your hourly rate to ensure you're charging enough to cover costs and make a profit.