Tom and Dan answer your questions about how to pay yourself as the owner of the company, providing your subcontractors with shirts and magnets to give them a sense of your company's identity, how to inform your clients about hiring subcontractors, and how to get leads in winter, etc.
In this episode, we talk about…
Question1: As a result of COVID, I was unable to find good employees to work for the business that I established at the end of 2019. When should I quit my full-time job and return to my business?
Learn how to communicate properly Communication is an important component of how you're building your personal brand Even if you couldn't find people to work with, don't give up Be serious about building a business
Question 2: I'm structured as an escort and also work in the field for an average of 80 hours monthly. In addition to the salary, should I also pay myself an hourly wage?
Talk to your accountant about how they want to structure the money It's more important how you job-cost your time in the field rather than how you pay yourself
Question3: When I hire subcontractors, should I provide them with shirts and magnets to represent my business or not? Also, do I need to inform the homeowner that subcontractors will be doing the work? If so, how?
You shouldn't provide shirts and magnets because they're a subcontractor. They have their own business. Subs are just glorified employees, and you're going to get audited and screwed at some point. Letting the customer know or not know about hiring subs is a marketing and sales process issue Bring the right subs to do the job, and then set the expectation in the sales process Most customers don't care who does the job. They just want to know who will do it.
Question 4: How do you get leads in winter?
The only trades that can get constant leads are the emergency trades like electric, heating, air, plumbing, etc. Currently, your only option is to contact past customers. Don't expect fast work from anyone who isn't a past customer since you're behind the eight ball. The number one job you have as a business owner is to market your business, build your brand and sell it. Don't care about producing at this point—sell it first, then figure out how to produce it. Get fanatical about marketing and building your brand—invest a portion of your revenue into branding your business. Check out our Marketing Boot Camp—it will teach you how to market and build relationships, etc. Build relationships with influencers, interior designers, realtors, etc Make warranty calls—ask if anything is wrong, etc. This will differentiate you from everybody else. Warranty calls are one of the greatest ways to build your brand and business.
Question 5: I do bathroom models, and I have too many leads. Tell me how you recommend screening leads.
Check the Shin-Fu process Be good and efficient at what you doResources:
== Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook
Visit our sponsors of this episode, NiceJob. NiceJob is Reputation Marketing software that will help your business collect 2-3 times more reviews on Google, Facebook, and the platforms that matter. Don’t forget to use code “Fight” for $50 off the first month on new accounts! https://www.TheContractorFight.com/nicejob
== Join us in BATTLEGROUND ==
Everything your contracting business needs in one comprehensive program with three main focus areas: Leadership, Communication, and Numbers. For more info check out: https://TheContractorFight.com/Battleground
== Order your free copy of Tom’s book Winning the Contractor Fight (Just pay to ship) == https://thecontractorfight.com/book
== Grab the Gear ==
https://gear.thecontractorfight.com/
== Find Us on Social Media ==
YouTube: https://www.youtube.com/c/TomReber
Instagram: https://thecontractorfight.com/ig
Live Unafraid Swag: https://thecontractorfight.com/unafraid
The Contractor Fight is the ultimate resource for becoming an uncommon contractor! Pick a fight with mediocrity. Live Unafraid.
