Ep. 4: Know Your Numbers

Episode 4: Know Your NumbersA lot of contractors know how to build, but far too many do not truly know what their work is costing them.In this episode of The Fence Game Podcast, Matthew Munson and Marty Persich break down some of the most important numbers every contractor and business owner needs to understand. We talk about revenue, gross profit, net profit, overhead, cost of goods sold, labor burden, job costing, and the real cost of having W-2 employees.We also get into the difference between employees and subcontractors, how we track every expense on every job, why knowing your numbers helps you make better decisions, and how failing to track them can quietly bleed your business dry.Beyond the numbers, we talk about bootstrapping MAP Quality Fencing & Decks, building people through the business, learning from mentors, charging for consultations, collaborating with other contractors, and passing along the lessons we wish somebody had taught us when we started.Because at the end of the day, it is not about how much money comes into your business. It is about how much you actually keep.In this episode:• Revenue versus actual profit• Gross profit versus net profit• Cost of goods sold and overhead• Calculating the true cost of labor• W-2 employees versus 1099 subcontractors• Job costing and tracking receipts• Using CompanyCam to organize projects• Bootstrapping and reinvesting into your business• Charging for professional consultations• Finding mentors and applying their advice• Building people through your business• Friday Night Lights and our Morris football predictionsIf this episode helped you, please like it, share it with another contractor, and subscribe or follow so you do not miss the next one.Drop a comment and tell us what you thought. Ask us questions, share your own experience, or let us know what topics you want us to cover next. Positive feedback and constructive criticism are both welcome. We are learning as we go, and we want to keep making each episode better.This is real conversation from two contractors who learned through experience, mistakes, hard work, and the school of hard knocks.Same hustle. Different product. Welcome to The Fence Game.Follow MAP Quality Fencing & Decks:Website: mapqualityfencing.comDisclaimer: This podcast is based on our own experience and is intended for general educational and entertainment purposes. It is not legal, tax, or accounting advice. Talk with a qualified professional about your specific business.