TBS092 Markup Margin And What They’ve Got To Do With Your Bank Account

Margin. GP. Markup. Gross Profit. Net Profit. Revenue. Sales.

What the heck do all these things mean and are they even different?

Unfortunately it’s a question not every business owner can answer. In fact, no many business owners can tell the difference between all these, how they relate to each other and how they all lead to one very important outcome: CASH!

We put together a quick episode to (hopefully) give you some more clarity about margin and markup in particular as they have a huge impact on how much money you make on materials and labour. Knowing the difference and how to calculate them will also help you quote jobs correctly so you don’t find yourself working for clients for free… or worse still, paying clients to work for them!

Warrick has also put together a margin/markup calculator you can use to help figure out your pricing and whether you’re on target. You’ll find it in the Tradies Business Toolkit so head on over and grab this handy tool for just $1*

TBS027: Should You Charge For Your Quotes?

Free quotes. It’s what you have to do if you want to get more customers, right?

Problem is you spend half your time quoting instead of doing chargeable work, only to be told by the prospect that “we’re still deciding” or “we didn’t realise it’d be that much” or perhaps the worst “we’ve decided to go with someone cheaper”!

Well…it doesn’t have to be this way. In today’s episode we take a closer look at the practice of offering free quotes to prospective customers and how it could be affecting your trade business. We also share the story of a tradie who moved to charging for quotes and the results might surprise you!

TBS006: Improving Your Cashflow With Matt Mulligan From MYOB

In this episode we talk everything cashflow and announce our new sponsor – MYOB and their PayDirect solution. MYOB’s Head of Product Matt Mulligan talks about his top three tips for managing cashflow and how changes in technology are helping to give tradies their Saturdays back.