Such a small percentage, but can make such a big difference!
Let’s say you’re top line revenue is $500,000:
- Increase your prices 1% and that’s $5,000
- Improve your production and knock your COGS down by 1% that’s another $5,000
Both are very doable and you have another $10,000 in Gross Profit to work with.
Let’s say you’re top line revenue is $1,500,000:
- Increase your prices 1% and that’s $15,000
- Improve your production and knock your COGS down by 1% that’s another $15,000
Both are very doable and you have another $30,000 in Gross Profit to work with.
Should you go into your estimating spreadsheet/system and increase things across the board 1%? Or maybe 3%, while you’re at it… Small change, big result. Your prospect won’t blink at that and the extra revenue will help you hit your financial goals.
What if you sat down with your production team and brainstormed ways to improve and knock your COGS percentage down 1% (or more)? Do you think you could come up with some ideas?
Just wanted to share this quick thought and hopefully inspire you to take this micro change that will lead to more profit for your remodeling business.
By the way, Remodelers Circle is $275/month. If you’re running a $1,000,000 remodeling business and increase your prices 1% – you would have enough to pay for Remodelers Circle for the year and still have $1700 to spend on that nice long weekend with your significant other…
And as part of Remodelers Circle you would be able to:
- Make More Money / Increase Profits
- Receive Encouragement & Accountability
- Achieve Better Work / Life Balance
- Have a structured way to work on the business
- Have help with making the hard decisions
- Access Professional Coaching & Effective Marketing
- Feel more organized and in control of your business
- You have a trusted group of colleagues/friends you can count on
I’m starting up a couple new Remodelers Circle groups. Let me know if you’d like to learn more (one will be for Owners and another will be just Office Managers.)