TCF331: 5AM Fight - How Much Do you Need to Make Each Day?
The Contractor Fight with Tom Reber · Tom Reber
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Show Notes
One of the most important aspects of owning a business is knowing your numbers. Do you know how much you need to make each day to not only pay the bills but achieve the lifestyle that you desire? If you don’t, take a listen. Tom is here to tell you how to figure that out!
In this episode, we talk about…
- Charging improperly is why so many contractors go broke
- Use overhead and the number of production days to calculate what you need to keep
- Consider your salary part of your overhead
- Don’t forget to consider your profit-margin when calculating overhead
- Take the time to map out your numbers to avoid the struggle
- The higher the gross profit, the less revenue you need to bring in
Links to resources:
Find out what you need to charge: https://thecontractorfight.com/charge/
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The $100k Contractor is designed to get you to at least $100k a year in personal income. It’s time we quit stealing from our families and get that time back!
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