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hey guys Andrew Houston from proper contractors and I want to talk to you about a problem that I hear all the time and that I see all the time and that's quoting profitably I gotta tell you but 95% of the contractors have we talked to are not quoting profitably so before you quote another job please listen to the rest of this video okay so before we get into a couple of hacks that that most contractors miss let's talk about whether or not this is something that might be a problem in your company so let's look at the red flag yellow flag system so if you've got a roller-coaster ride going up and down your bank account you might want to look at this if you find that when you sit down with your accountant at the end of the year which by the way it should be more than that but if when you do or have you're not making them profits for all the energy and effort that you put in if you look at all the sales you've done it's just like man where's the hell's all my money or you know you do a job you think you did the job great and you look back on it and it's like holy man we didn't make the money that we wanted to then pay attention here so here's a couple of hacks now there's a whole process that we go through with our clients and templates and tools and and in other areas but I'm just gonna touch on these and I'm gonna give you guys a couple of amazing tools that that our clients use to help them with quoting properly the first one starts with actually starts way before you actually quote like what yeah you need to filter fast you need to filter out the class-d deadbeats the Class C can't deal with the Class B basics and focus solely in on the Class A clients if you don't have some sort of system to filter that you know right from the phone call right from the email then no matter what you do or how good of a job to do with quoting you can be dealing with people that are just price shopping completely wasting your time for hours and hours or maybe days of quoting you can be dealing with people that when you do land them which would be even worse they don't pay you they don't pay you what you're worth or they just don't pay you well they're paying the ass to deal with they don't communicate with you the job drags on so no matter how good of a job you did quoting you're screwed before you even get on the field of play you've lost the game so you need to filter fast okay so if you want if you want the tool that we've got that does this it's called the client rating matrix and what it does is that it allows you to rate your current clients so we want to start with the current clients you got we use that process that get rid of the guys that you're currently dealing with first and then we got to focus in on and leverage the same process for the cross mixer coming in so filter filter fast okay the next thing that you want to look at is you got a break down your quoting process look at here's the thing if you want to scale your business you want to get more control you want to make more money you want to become a champion CEO so the business can run more without you at some point you're gonna have to let go of the quoting process or let go quotes and if you don't have a process that works if you have a don't have a process and it's got a whole bunch of errors in it or places where it it misses information then that's gonna get passed on to other people right so you gotta break down your quoting process now what do I mean by that it's not complicated okay you guys are all smart tradies but let's just take a look at an example if your electrical contractor that would be you know putting in the service that's one phase doing the rough-in that's another phase doing the finishing that's another face so you want to break that down so that not only you can look at what's working and what's not through your quoting process but that when you transfer that information over to your project managers they know what the hell the expectations are and how the job was quoted so in this quoting process there's a there's an area that is super critical that you guys gotta get 95% of contractors don't do this okay it's including your breakeven margin you might be thinking what the hell's breakeven margin break-even margin is the amount of margin that you got to put on your quotes based upon your sales to cover your overhead costs overhead cost like salaries leases on trucks all those expenses that whether you get a sale or not you got to pay right you've got to include that those can range from 15% all the way up to 30-plus so imagine if you're a contractor and you're putting twenty twenty-five points on your jobs and your not putting fifteen or twenty percent to cover your overhead costs you're basically working for nothing even if you quoted it accurately in the perspective of timing material so you gotta add your breakeven march okay we have a tool called pricing for profit stool type that in if you want that tool an amazing tool and you can apply it right away to the quotes that you're doing to help you filter fast to help you quote profitably specific to your business okay don't let any contractor tell you oh yeah man I put 20 points on this I put 15 points on that guys look at all your overhead costs are gonna be different for every contractor so you got to figure out what that breakeven margin is for you okay and and that's it guys so you know to become a champion contractor you've gotta focus in on the right things to focus in on the right things you got to take it seriously so let me just touch on this from an identity perspective as far as your responsibility as a leader as a champion CEO okay if you don't quote properly guys you're not only putting your team on the line right I've seen 10 20 30 year-old businesses go under it like that just by putting one job run wrong okay you're putting all that risk of your family on the table right like you know think about it right it's not just to put in the food on the table for your team what do you and your family and your dreams and and making money with all this hard effort in all this risk so you've got to only quote profit Lee you got to only quote those people that are worth quoting profitably and you got to make sure you got a system that ensures that when you hand it over to somebody else that they quote properly every single time if you can't you know if you got if you got somebody that's not willing to pay you what you're worth and not I love you to make a profit well screw that okay and we gotta focus in on the marketing and other things okay so only quote if you can be profitable on the jobs that you're quoting okay Sandra Houston from proper contractors and I look forward seeing you guys on the flip side ask for those tools if you want if you're not on the Facebook group join it for lots of insights like this don't do it alone join a great community and that's it that's all folks so this is Houston over and out and we'll see you guys on the flip side ciao