TCF830: Contractor Business Math Crash Course

Today, Tom is taking it back to the fundamentals of running a successful contracting business. Join him as he offers a crash course on basic contractor business, explaining the key terms of the business world in simple language to help contractors understand the numbers behind their business.    Conversation Highlights: [00:00] - Intro [01:50] - Revenue [02:15] - Sales [03:14] - Cost of goods sold/ Direct costs [05:50] - Gross profit [06:52] - Overhead [08:31] - Break-even point [10:34] - Net profit [12:58] - Cost per lead [13:46] - Cost per sale [14:03] - Closing rate [14:22] - Average sale [15:47] - Closing remarks Get your free Contractor Math Cheat Sheet and dive deeper into these concepts. Get access to it here: https://thecontractorfight.com/math/  Resources: ❄️ Winter slowdown? No problem! Jump into BATTLEGROUND with this HOT offer! Sign up for 3 months of contractor coaching and we'll gift you 1 month FREE. Make the most of your winter downtime and learn from our kick-ass team of coaches. Jump in before October 31st. https://thecontractorfight.com/battleground   💰 You didn’t become a contractor to struggle financially. Download our worksheet and start calculating a 50% gross profit on every job. It’s time to get your shit together! https://thecontractorfight.com/50/  💸 Grab your copy of our FREE Contractors Guide to Spotting Cheap Prospects here: https://thecontractorfight.com/cheap  == Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook  == Grab the Gear == https://gear.thecontractorfight.com/  == Find Us on Social Media == YouTube: https://www.youtube.com/c/TomReber  Instagram: https://thecontractorfight.com/ig  == Rate the Podcast == Help your fellow contractors find the podcast! Please leave a rating/review!  Apple Podcasts   Spotify