Profitable Home Services Podcast Diane Gardner; Your Profit Coach

In the world of home services, building relationships with influencers and industry experts can be a game-changer. Justin Wise shares his secrets on how to engage with these influential figures, from sending heartfelt notes to leveraging the power of social media. But what happens when this strategy backfires, and instead of collaboration opportunities, you find yourself in an unexpected dilemma? Tune in to uncover the shocking twist in Justin's story that leaves him in a difficult situation, with no resolution in sight.
In this episode, you will be able to:
Identify how strategic content creation lays a strong foundation for your business's expansion.
Perfect the techniques of creating content that deeply engages and intrigues your prospects.
Formulate strong bonds with influencers and industry titans to amplify your business's reach.
Learn the smart ways to recycle your content effectively for wider audience coverage.
Embrace challenges and keep up the content creation momentum for enduring business growth.
Listen to all episodes at https://profitablehomeservices.com/
Get a free copy of the Path To Profits Book at https://yourpathtoprofitsbook.com

In this episode of the Profitable Home Services podcast, Diane Gardner interviews Tersh Blisset, the founder of Service Emperor and host of the Service Business Mastery podcast. They dive into the crucial role of job costing and tracking expenses in the home services industry. Tersh shares personal experiences that highlight the importance of regularly updating systems and accurately tracking costs. He emphasizes the need for job costing, even for small jobs, to understand where cash is being spent. 
Tersh also discusses the challenges his company faced during the COVID-19 pandemic and how they navigated supply shortages and labor issues.Gain valuable insights into the impact of changing prices in the industry and the necessity for technicians to understand the financial aspects of their work. 
In this episode, you will be able to:
Absorb the necessity and advantages of embedding automation in your home service business model.
Learn the delicate art of balancing delegation with automation for the smooth running of your business.
Uncover the vital role of meticulous job costing and expense tracking in the home services universe.
Realize the staggering impact of strategically changing prices, underpinned by conscientious cost tracking.
Analyze the immense benefits of embracing remote operations and forgoing physical warehouses.
Listen to all episodes at https://profitablehomeservices.com/
Get a free copy of the Path To Profits Book at https://yourpathtoprofitsbook.com

Do you think retirement plans are only for large corporations? I debunked this myth with Bill Black from Pension Specialists in the recent episode of the Profitable Home Services Podcast. We discussed how small businesses can significantly benefit from these plans. A qualified plan allows for income tax deduction and offers tax-exempt growth.
 
In this episode, Bill and I discuss:
Qualified retirement plans for small businesses
Debunking the misconception that qualified plans are only for large corporations
Types of businesses that can benefit from qualified plans
Custom-designed plans vs. one-size-fits-all options
State-mandated retirement plans for small businesses
Drawbacks of state-mandated plans
Common myths and misconceptions about retirement plans for small business owners
Maximizing benefits for business owners while providing incentives for employees
Process of setting up a pension plan
Benefits of a qualified retirement plan in saving on income taxes
Listen to all episodes at https://profitablehomeservices.com/
Get a free copy of the Path To Profits Book at https://yourpathtoprofitsbook.com

As a business owner, understanding your own role in the company is crucial. It isn't just about managing day-to-day tasks, it's about financial responsibility. Recently, Mike Disney, owner of Winding River Recruiting (and former CEO of CEO Warrior), and I discussed the importance of being disciplined in monitoring numbers and job costing. It's about embracing the highest and best use of time to prevent profit leaks. Truly, understanding your business's identity can lead to profitability
In this episode we discussed: Understanding profit leaks in home service businesses
Importance of financial responsibility and monitoring numbers
Defining roles and focusing on the highest and best use of time
Planning for profit and not treating it as an afterthought
Overcoming the misconception that profit is bad or greedy
Mindset and its impact on pricing services
Avoiding assumptions about customers' affordability
Importance of systems and processes for success and profitability
Partnering with a financial person or accountant
Taking action, avoiding complacency, and having a sense of urgency in business



Listen to all episodes at https://profitablehomeservices.com/
Get a free copy of the Path To Profits Book at https://yourpathtoprofitsbook.com

The 'Profit First' mindset isn't limited to accounting. It can transform your entire business approach and push you out of your comfort zone, leading to unforeseen successes. On this episode, Ron Saharyan and I emphasized that being profitable allows businesses to do more and make a positive impact. Remember, small businesses are the backbone of our economy, and systems like Profit First can help them thrive.
 
In this episode, we discussed:
Growth and adoption of Profit First Professionals
Explanation of Profit First as a cash flow methodology
Importance of finding a knowledgeable accountant for financial planning and profitability
Need for accountants to evolve beyond compliance and become business advisors
Importance of investing in experts as businesses grow
Value of casual conversations about money and business, but need for financial experts
Importance of investing in oneself and one's business
Unique profit-first strategies and tailoring bank accounts to meet specific needs
Benefits of working with a profit-first professional in any industry
Importance of cash flow systems and having a system in place for effective financial allocation
Versatility of the book "Profit First" for personal and business finances



Listen to all episodes at https://profitablehomeservices.com/
Get a free copy of the Path To Profits Book at https://yourpathtoprofitsbook.com

Consistency and efficiency provide a consistent experience for customers. This is one of the key messages from my podcast episode with Dave Sullivan. He emphasized the importance of having clear processes and systems in place for scalability. Sometimes, learning from others' mistakes can pave a more successful path for your business. We talked the common mistakes contractors make. It's astounding how often businesses prioritize sales over profitability and overlook proper planning for expansion. 
 
In this episode, we discussed:
Dave's experience in the roofing business
Importance of focusing on profitable areas and measuring profitability
Challenges of scaling a business
Need for efficient operations and proper staffing
Importance of automating processes and using apps and virtual assistants
Benefits of running a lean operation with fewer employees
Common mistakes contractors make
Addressing profit leaks through strategies like quality inspections and pre-job conferences
Importance of processes, checklists, and learning from others' mistakes
Listen to all episodes at https://profitablehomeservices.com/
Get a free copy of the Path To Profits Book at https://yourpathtoprofitsbook.com