I’ve heard from many people who seem to have a common problem. They can’t seem to make a profit. They are only getting paid wages. Their clients won’t let them charge what they know they deserve.
This is an age old problem. In today’s Weekly Wrap-Up I’ll discuss why this happens, and how you can overcome this issue. Here’s an easy 3-step process to follow:
Ask + Accept + Act = Profitability
Most remodelers, when they first start their business, don’t charge enough to make a profit. That is quite normal. You have to build your business image and brand before you can start raising your prices. The successful ones eventually get their prices where they need to be, and are able to grow and prosper. Yet many, after literally years in the business, haven’t broken free of this “gravitational pull”, and are in the same uninviting rut they were 10 years ago.
They blame the economy. Others swear that they can’t charge what they need to because people in their town won’t pay that much. Or the competition’s at fault. There’s no room for their business in this town. Their clients nickel and dime them to death.
You may work hard. You may have great skills, and have happy clients who continue to call you back to do more work at their home. So what’s wrong?
This situation always reminds me of a parable in the Bible about Jesus and a rich young ruler. He came to Jesus and asked how he could enter the kingdom of heaven. Jesus said that he must sell all his possessions and follow him. The young ruler returned home, very saddened by this answer. He couldn’t give up everything he owned. It would ruin his life.
I am reminded of this parable over and over again, in diverse situations, because we ask for sage advice, we get the right answers, and then we do nothing. We aren’t willing to change our ways. We don’t want to invest in the future. Success becomes a daunting task, that would require too much effort. So we revert to blaming the economy, location, clients, and competition. We return to our comfort zone, and there we remain.
Is it possible? Of course it is, no matter where you live. You just have to follow certain steps to break out of this depressing cycle.
The information is out there. There is no shortage of that. But you do have to make the effort. You have to heed the advice you are given and take the right steps, in the right sequence, and begin the journey to financial freedom.
You have to create a system in order to move ahead with your goals. You need to network with your peers AND those outside your industry. You need to engage in online social activities. Improving your website should be top of list. You may have to change your image. If your image is one of a “worker bee”, change it to a “queen bee”. If you are seen as a good, skilled, hard worker – you will be paid as one. Ironically the woman or man perceived as a sharp business person, will always be paid more than the hard worker.
Breaking out of this mold is difficult. It may be the hardest thing you have ever done. But if you really want to work for more than wages, you have to stop thinking of yourself as a hard worker, and become an astute, sharp, businessperson. If you don’t see yourself in this light, no one else will either. Everything has to start from inside; what I refer to as your mindset. I can’t count the amount of people who have asked how they can turn their business around, and I tell them that if they can’t change their mindset, nothing will change. Try as they may, they won’t get more leads, sell better, or improve their customer satisfaction till they change their mindset.
There are many things that you have to do to achieve your goals. But you have to start somewhere. You have to lay that first brick to build a house. Step by step you will get closer and closer to the profitability and lifestyle you want. Be patient. Don’t rush it. Realize that every successful day creates a successful life. Steady wins the race.
You can accomplish success just like any other person out there. There’s nothing special about them. They aren’t some business genius who happened to figure out the right moves. They are normal everyday people who rose to the challenge of creating a superior company. They asked the question. They accepted the answer. And they took action. 1, 2, 3. When you accept the answer and work steadily on your goals, you too will achieve greatness.
Wishing you the best of fortune, Randall
This article was written by Randall Soules, remodeling coach, adviser, educator, and creator of the Scientific Remodeling System, showing you better ways to advance your business, raise your profits, and improve your life, through the use of superior remodeling processes. If you would like to discover better ways to run your business, click here. He also provides his uniquely customized one-on-one coaching to a select group of contractors. Feel free to contact Randall at Randall@scientificremodelingsystem.com.
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