381: Markup Your Jobs The Right Way with Michael Stone

We’ve got a great show for you today with Michael Stone, the author of Markup & Profit: A Contractor's Guide. He joined us some time ago for Episode 309 about this topic, and it became one of our most popular shows. We see regularly that a lot of contractors are falling short in this area, so Michael is here to explain how to mark up your jobs the right way to make the profit you SHOULD be making. Join us to learn more!Before Michael joins us, I want to share a call with Reuben, a contractor from FL in our mastermind group, about what SMA Support is doing for his business. Please listen in to hear from Reuben. What you’ll hear in this episode:The secret to roofing? There is no secret! It’s all about the fundamentals!Michael’s background of success with 30,000-40,000 contractors over the last 50+ yearsGet the attention of your ideal customer in your niche!Michael’s tips about your contract and payment schedulePotential profit problems: the owner, what you’re charging, and inconsistency“You sell based on quality, value, and service—not price.”The difference between markup and profitYour net profit should be NO LESS than 8%, and it should work up to 10% over time.Understanding the important factors that will make your business profitableResources:Connect with Michael Stone: Website, Markup & Profit: A Contractor's Guide, or call Michael at 360-335-1100Set up a FREE strategy call with Dave and get a few tips on how you can improve your business:  https://davesullivan.as.me/free-strategy-callInterested in learning more about our 1-on-1 coaching, our mastermind groups, or our fractional professional services? Email me at [email protected]. or send me a text at (510) 612-1450.No Plan? No problem. Download our FREE 1-Page Business Plan For Roofing Contractors https://theroofershow.com/plan.Vetted Sponsors Of The Roofer ShowHave RUBY answer your phones and tee up the sale by leaving a great first impression. Use this link to get up to $150 off your first month’s service: http://get.ruby.com/theroofercoach.Automate your Follow-Up and close more sales with PROLINE. Get started for FREE at https://useproline.com/. Use promo code “Dave50” for $50 off your first month’s service!Our newest sponsor, SMA Support Services, fills a need by empowering contractors to simplify and optimize their operational processes with virtual assistant and call center services. Explore what a virtual assistant can do for your contracting business. Check out SMA Support Services! (Tell them Dave and John sent you.)