The Contractors Coach

Business Coach for Contractors and Developers. 10+ Yrs, 500+ Construction Businesses

[The Contractors Coach @Contractorguys]

Success in 6 Steps
Success – Getting what you want
(the playbook, not the philosophy book)

[The Contractors Coach @Contractorguys]

@bloggersarvesh Prompt

[The Contractors Coach @Contractorguys]

@coldemailchris Prompts

[The Contractors Coach @Contractorguys]

@NoahEpstein_ Gemini

[The Contractors Coach @Contractorguys]

@jspujji RT

[The Contractors Coach @Contractorguys]

@Sam_Rosati LOI

[The Contractors Coach @Contractorguys]

@bentigg Great! Read below the new company was 1/3 the size of the platform business - were you able to finance the new acquisition with 100% debt?

[The Contractors Coach @Contractorguys]

@MTGrepp Yes - voter ID and paper ballots

[The Contractors Coach @Contractorguys]

@elonmusk Nice!!

[The Contractors Coach @Contractorguys]

@moseskagan @ArtemTepler Incredible to see people pull together for him!

[The Contractors Coach @Contractorguys]

@moseskagan @ArtemTepler This is terrible to hear. Artem was a friend more than anything else. He communicated regularly but stopped a month ago - didn't realize he was struggling so much.
Very heavy to deal with - will miss you buddy.

[The Contractors Coach @Contractorguys]

@HeroDividend I feel for these kids - because the adults lied to them. They said go to college, get a degree, you will get a good job - that's your ticket to a good life. Its all a lie (probably even STEM). I have an MBA, and realized this 15 years ago and quit my job. Best decision ever.

[The Contractors Coach @Contractorguys]

In hiring or promoting, we always recommend employers look for the tradeoff between attitude and skill and always favor attitude over skill. A person with a good attitude can learn any new skill. A person with a bad attitude, the more skill they have the more problems they create in a company.

[The Contractors Coach @Contractorguys]

Even though this an very useful HVAC thread - I'm sure contractors of all trades are on interested in the business numbers shared here - here are the gross margin guidelines we give our clients:
- Service work - 55% or higher
- Residential Remodels - 25-35%
- Commercial/TI - 15-25%
- Governmental work - 8-15% (this is a volume game)
FYI - This number includes, labor, material, subs, and insurance costs

[The Contractors Coach @Contractorguys]

@sweatystartup Very true - we started to 'fire' clients at the 90 day mark if they did not implement our program immediately. It has been a very positive development as the word got out.

[The Contractors Coach @Contractorguys]

@RickVazza Welcome to the good life! The blue collar business world is far more rewarding in terms of work and real relationships - that's been my experience for the past 15 years after switching from training software sales teams to now coaching contractors.

[The Contractors Coach @Contractorguys]

@Codie_Sanchez Very true - first lesson for our clients is always mindset. Are you a contractor or a construction business owner? The answer can mean the difference between running a $5M or a $50M business:
This client got it:
https://t.co/IqCahgPVRA

[The Contractors Coach @Contractorguys]

Last month we did a survey of our clients who are mostly home service and light commercial businesses (across the US)- the results were surprisingly even:
1/3- Business is growing too fast
1/3 - same ol, same ol
1/3 - business is down
Conclusion is - easy times are over, now it comes down to business location and business skills

[The Contractors Coach @Contractorguys]

@ChandlerReedSMB Several factors have come together to make this the perfect time to acquire SMBs.
Cap rates hovering around 5%, mortgage rates at 7% make real estate a tough call.
A service SMB run with good systems can easily have 25%+ profit margins - making it easy to handle debt service

[The Contractors Coach @Contractorguys]

One of the saddest ways to lose in life is to play hard and win the wrong game.
Sometimes it helps to step back and ask yourself
"What game am I playing?"

[The Contractors Coach @Contractorguys]

Quick Survey: If you are a Contractor, how have incoming leads been in your business in the last 6 months:

Reply with:
1 - slower than normal
2- same as before
3 - seeing an increase