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
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Resources:
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