16 Jul 2022

EP25: Overheads Aren’t The Enemy

Listen on Your Favourite Platform, Or Keep Scrolling To Listen Here

Episode 25: Overheads aren’t the enemy

When the vast majority of Plumbing, Electrical, Glazing, Tiling, and other similar service based trades businesses want to increase profit, they look at the overhead costs and find things to cut. But is that really the best option? In almost all cases, trying to reduce overhead costs is the enemy of progress because when you’re running too lean you don’t have the necessary infrastructure to grow or operate at a high level.

Think of it like this, when you were setting up your business you brought a vehicle, any tools you needed, materials, a laptop for admin, and you weren’t concerned with the overheads because you knew you needed to spend money to make money, you believed in yourself to make that money back. So what happened? Don’t let that mentality change. When it comes to growing your business, scaling, reducing the reliance on you as the owner, you need to have the same attitude toward those costs.

In this episode you’ll learn why overheads are not the enemy and how they can be used to sculpt your business into whatever you want it to be. You will learn about the overhead range and where you want to be so that you are getting the most out of your business. Remember, reducing overheads actually comes at a cost of its own, which is all explained in the episode, if you don’t get this right it will eat into your growth, your profit, and your time.

WHAT YOU’LL GAIN FROM IMPLEMENTING TODAY’S PODCAST:

  • A new lens to look at overheads
  • An understanding of the overhead range
  • Maximization of the return you get from your business

WHAT YOU’LL GAIN FROM IMPLEMENTING TODAY’S PODCAST:

  • How to value your business and what the numbers mean
  • How to make your business more valuable and attractive to buyers
  • The risks that you need to avoid so the value isn’t effected

LINKS MENTIONED IN THIS EPISODE:

Thanks for joining us this week. Want to subscribe to The Profitable Tradie Podcast? Have some feedback you’d like to share? Connect with us and leave us a review with a 5-star rating. If you think that’s too high, tell us why that is, we’d love to hear from you! Just shoot me an email with the word ‘PODCAST’ in the subject line to [email protected]

Watch More Episodes

Up and down cashflow can be very difficult to deal with as a business owner. Here’s How To Stop Rollercoaster Income

It’s hard to know where to start in fixing your business. Here’s the trick. Show Me Your Calendar and I’ll Show You Your Problems

Employee screw ups can be costly to any trades business owner. Here is The Ultimate Guide For Managing Tradespeople

I sat down with The Plumber Who Turned His Life Around to discuss why It’s never too late to build a million dollar business

Sometimes getting bigger isn’t always in a business owners best interests. Here’s Why You Need To Scale Back To Grow

The money side of things is one of the hardest things in business. So I talked to The Mastermind Behind Making Money

The money side of things is one of the hardest things in business. So I talked to The Mastermind Behind Making Money

The money side of things is one of the hardest things in business. So I talked to The Mastermind Behind Making Money

There are too many economic factors that are making business difficult to count. Everybody needs The 2024 Trades Business Survival Guide

Across the board working is slowing up. But the reason Why Your Clients Are Giving You Less Work will surprise you.

A business owners time is valuable, but we often don’t know where it all goes. Listen to learn How to win your time back

A business owners time is valuable, but we often don’t know where it all goes. Listen to learn How to win your time back

Employees are costing you money with poor craftsmanship. This tip will teach you How To Stop Stupid Employee Mistakes

Slow Payers cost businesses thousands in profit every month. Tune in to find out how to make them pay on time and every time

Dropping your prices is a bad idea. So in this episode we learn about The Dark Side of Pricing and How You Can Avoid it.

We interview Luke Heyhoe who discusses How To Take An Unprofitable Business And Make It Worth Millions

Have you ever had a crack at marketing and not seen a penny back? Learn how to take your marketing to the next level with these tools.

Business is fragile. It’s important to win as many jobs for as cheap as possible, Here’s How To Avoid Being Taken To The Cleaners By A Marketing Agency

We discuss how Taking Your Business To The Next Level is possible With A Business Partner

Duncan Leask sits down with us to discuss how Building A Business That Runs On Autopilot is an achievable short-term goal

What People Are Saying About the Podcast

Find Out How These Strategies Fit Into Our Programs

The same theories covered in our blog posts are applied with templates, guides, and webinars within our Profitable Tradie programs. Accompanied with the support of coaches we use these strategies to overcome challenges and get results for our members. Find out what that might look like for your business.