#317 // “Five Simple Ways To Make More Money In Your Electrical Business (Part 3) with Greg Crowe

Making money is easy when you know how.

The trouble is, sometimes we get busy and conveniently forget the ways to make money.

The truth is that it’s not that complicated, it’s actually a very simple concept.

In this podcast series we go through the 5 simple ways to make more money in your electrical business which are as follows:

-weekly revenue exceeds weekly expenditure (ie profit / loss) -the jobs that are starting and finishing every week (ie “closed jobs”) are at a solid net profit -the jobs that are running over weeks + months(ie “open jobs”) are on their way to making a solid net profit -all paid hours are allocated to a job (ie “labour efficiency”) -all hours completed are effective + efficient (ie “quality of hours”)

Sometimes it’s in the moments when we peel ourselves away from the mundane day to day grind where we can see how simple running a business really is.

The goal? Revenue exceeds expenditure. Be kind. Repeat.

May these words inspire you as you proceed on your journey of making money, building wealth + being kind.

Much love, Crowe

Summary

In this episode, Greg Crowe shares practical strategies to increase profitability in electrical, solar, and air conditioning businesses. He emphasizes the importance of consistent execution, effective quoting, and managing ongoing jobs to maximize net profit.

Keywords

Electrical Business, Solar Profit, Aircon Business, Profit Strategies, Quoting, Ongoing Jobs, Business Efficiency

Key Topics

Profitability in service businesses Effective quoting and variation management Ongoing job profitability tracking Importance of consistency and discipline Building relationships for ongoing work

Titles

5 Simple Ways to Make More Money in Your Electrical Business How to Increase Profitability in Solar and Aircon Jobs

Sound Bites

"Let the content dictate the format." "20% of a higher number is a higher number." "Did I get the original price right?"

Chapters

00:00 Maximizing Profit in Service Businesses 02:56 Understanding Profitability Metrics 06:12 The Importance of Consistency and Discipline 09:06 Evaluating Ongoing Jobs for Profitability 12:00 The Role of Reputation and Word of Mouth 14:51 Quoting and Pricing Strategies 17:46 Managing Variations and Client Expectations 21:10 The Value of Relationships in Business 24:01 Learning from Experience and Mistakes 26:55 The Importance of Communication in Business 30:09 Conclusion and Next Steps