If I Wanted to Make $1M this year, I’d do this

📅 April 27, 2026 ⏱️ 27:15 🎤 Richard Bainey, Laura

Chapters

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0:00

Working Hard on Wrong Things

The hosts introduce the idea that plumbers often work hard but on the wrong tasks, hindering their business growth towards a million dollars.
0:26

Mindset Shift for Profit

Richard and Laura discuss their journey from being busy to becoming profitable, emphasizing the need for a business mindset over a plumber's technician mindset.
1:00

Know Your Numbers

The first step to making a million dollars is understanding key business numbers, such as average ticket size, to set clear revenue targets.
1:30

Fix Your Pricing First

The hosts stress the importance of setting correct pricing before focusing on volume, as incorrect pricing can lead to losing money faster.
1:58

Consistent Phone Ringing

The third step involves consistently generating calls through effective, often free, marketing strategies like Google reviews and past customer referrals.
2:30

Increase Average Ticket

Increasing the average ticket size by offering more value and options on existing jobs is highlighted as a more efficient growth strategy than just increasing call volume.
3:00

Build a Simple Sales System

Systematizing sales processes ensures that all technicians provide options and follow a consistent approach, leading to increased sales and average tickets.
3:30

Get Out of the Truck

Business owners are urged to delegate plumbing work and focus on managing and growing the business, rather than remaining in the field as technicians.

Speakers

Richard Bainey

Host — million dollar plumber

Laura

Host

Key Takeaways

✦

Prioritize learning business skills over just technical plumbing skills; a 'plumber's mindset' focuses on labor, while a 'business owner's mindset' focuses on profit.

✦

Invest in business education and groups; while seemingly expensive, such investments can lead to multi-million dollar returns by providing necessary knowledge and structure.

✦

Master your financial numbers, starting with your average ticket, to accurately calculate the number of jobs needed to reach your revenue goals.

✦

Fix your pricing before increasing volume; ensuring your pricing covers all expenses, growth, and profit prevents losing money faster with more jobs.

✦

Systematize your sales process to empower all technicians to offer options, increasing your average ticket and overall revenue.

✦

Transition from working in the truck to working on the business; delegate field work to employees and focus on strategic management and growth.

✦

Implement a robust maintenance program, framing it as a sales tool to ensure repeat business, opportunities for additional services, and customer loyalty through priority service.

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