The Hardest Decisions Every Contractor Has to Make

What should you do when you’re booked months in advance but customers keep calling? Are you experienced enough to start charging for your work? Should you lower your price to keep a longtime customer?In Episode 86 of The Better Contractor Podcast, Brent and Alex answer three real questions submitted by members of The Better Contractor Facebook group.They discuss when contractors should hire more employees, rent or purchase additional equipment, raise their prices, turn down unprofitable work, and walk away from customers who only care about receiving the lowest bid.Brent also shares advice for newer contractors who are still building their skills and confidence. You do not need to know how to handle every possible project before starting a business—but you need to understand your current capabilities, price your work appropriately, manage your liability, and continue improving.In this episode:00:00 Introduction00:33 What to Do When You’re Booked Months in Advance01:23 Hiring More Employees and Adding Equipment01:48 When It’s Time to Raise Your Prices02:32 Using a Premium “I Don’t Want the Job” Price03:07 Turning Demand Into Business Growth03:44 Starting a Contracting Business With Limited Experience04:29 Managing Risk and Liability as a New Contractor05:18 Choosing the Right Services to Offer06:19 Building Confidence and Charging for Your Work06:39 How New Contractors Should Set Their Rates07:44 Starting Small and Growing Into Better Work08:39 How Brent Started Lanracorp10:00 Gateway Dealer Network Sponsor Message10:52 Should You Match a Competitor’s Lower Price?11:37 When to Walk Away From a Longtime Customer12:14 Why Contractors Get Stuck at Break-Even13:17 The Problem With Low-Barrier Competition14:13 Becoming More Specialized and Valuable15:17 The “Low-Low-Low Bid” Process16:04 Lowest Price vs. Best Value Customers16:42 Why Some Customers Come Back After Choosing the Cheapest Bid17:18 Join The Better Contractor Facebook GroupJOIN THE BETTER CONTRACTOR COMMUNITYWebsite:https://thebettercontractor.com/Private Facebook Group:https://www.facebook.com/share/g/1D7WETCTXG/Facebook:https://www.facebook.com/profile.php?id=100085062039297Instagram:https://www.instagram.com/bettercontractor/FREE TRAINING & ONBOARDING VIDEOShttps://www.youtube.com/@TheBetterContractor/featuredLISTEN TO THE PODCASTSpotify:https://open.spotify.com/show/1tjPd8zKXx2oXT8WpjTwirApple Podcasts:https://podcasts.apple.com/us/podcast/the-better-contractor-podcast/id1728924279CONNECT WITH BRENT OBERLINKWebsite:https://brentoberlink.com/Facebook:https://www.facebook.com/brent.oberlink.9Instagram:https://www.instagram.com/brentoberlink/LinkedIn:https://www.linkedin.com/in/brent-oberlink-0a70b3161/ABOUT THE BETTER CONTRACTOR PODCASTThe Better Contractor Podcast features real conversations about growing a contracting business, developing strong leaders, hiring and retaining employees, improving company culture, managing operations, and building a business that can succeed for the long term.Subscribe to the channel and share this episode with another contractor who is working through these same decisions.#ContractorBusiness #ConstructionBusiness #BusinessGrowth #Entrepreneurship #ContractorTips