Ep 89 Pain Points & Profitability: Project Lifecycles

As an entrepreneur in the skilled trades, what do you want?  You want to feed your family.  You want your business to have a fighting chance at success.  You want to compete year-to-year. For Episode 89 of The DYOJO Podcast, we discuss Profitability, Project Lifecycles, and introduce the Letter of Intent (LOI) as we grow our businesses.  As we discussed in a prior episode (86) the client intake process starts a chain of COMMUNICATION that will set your team down the right path for clear and consistent DOCUMENTATION. As a business owner and manager, you have to first lead by example in setting up the standard operating procedures (SOPs) for your organization. If you lead, they will follow.  In an upcoming series of articles that will be in the in-print version of C and R Magazine (C&R) discussing MISCONCEPTIONS about Overhead and Profit (O&P). Ben Justesen, Anthony Nelson, Edward Cross, and I will be collaborating to help contractors understand how to understand and build your O&P TOOLKIT.   In this episode:   0:00 Project Lifecycle Sequences 7:15 Letter of Intent (LOI)  10:10 The Restoration Triangle  15:30 The Four Modes of Profitability   More on this topic:  * Article - "The Four Modes of Profitability for The Contractor" in an upcoming in-print version of Cleanfax Magazine  * Blog post - TheDYOJO.com/blog    Thursdays are for The DYOJO Podcast - helping you shorten your DANG learning curve for personal and professional development.    Thank You To Our Sponsors:   The Institute of Inspection Cleaning and Restoration Certification (IICRC) is a professional certification and standard-development non-profit organization for the inspection, cleaning, and restoration industries.    Advocate Claim Service was founded to provide policyholders, brokers, and attorneys with a dedicated claim professional to develop a comprehensive claim presentation strategy. Read David Princeton's column, Dear David, in C&R Magazine.    Author Jon Isaacson, The Intentional Restorer, shares his two decades of professional experience to help anyone involved with, or interested in, the art of estimating to shorten their DANG learning curve for improvement. How To Suck Less At Estimating: Habits For Better Project Outcomes.