My $200,000 Lesson: Understand Your TRUE Labor Costs

Nick shares the story of a $200,000 mistake that could have been avoided with one clause in his contract. This episode unpacks the real cost of labor — from hidden overhead and labor burden to inefficient pricing strategies — and shows how even experienced builders can leave money on the table. Nick and Tyler break down how they calculate true labor costs, the ripple effect of inaccurate billing, and why it's time to rethink how you estimate, price, and protect your work. Sign up for the newsletter: https://www.moderncraftsman.co/ Show Notes:  Contractors Coalition Summit Recap and Labor Burden Introduction (0:00) Sponsorship Announcements and CCS Event Highlights (1:12) Labor Burden Calculator and Financial Lessons (12:46) Practical Advice for Calculating Labor Burden (24:33) Overtime and Labor Burden Considerations (53:27) Conclusion and Call to Action (56:22) Video Version: https://youtu.be/KpyjTvAlXgw Partners:  Andersen Windows Buildertrend Velux Harnish Workwear  Use code H1025 and get 10% off their H-label gear   The Modern Craftsman: linktr.ee/moderncraftsmanpodcast Find Our Hosts:  Nick Schiffer  Tyler Grace  Podcast Produced By: Motif Media