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by Sparky Coach
🥇Make money. Build wealth. Be kind.💰A market wage with a business net profit of 20-35%📈Increase your net worth🙏🏻Become the best version of yourself
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- 6 days ago31 min
#323 // Why Boring Businesses Win with Greg Crowe
Doing the same thing twice and getting an excellent result is sexy. Revenue must exceed expenditure. Daily. Weekly. Monthly. Yearly. Closed jobs must hit north of 20%++. Every time. Every day. No excuses. Ongoing jobs must be on a pathway to make north of 20%. Every time. No excuses. Labour efficiency must hit its targets. Allocation. Utilisation. Quality. Be excellent. On site. Off site. Communication. Vision. Mission. Staff. Clients. Materials. Admin. Everything must be excellent. And to do things that work you must repeat similar (or the same) tasks. Every day. Every week. Every month. Every year. For decades. Until you stop. And repeating similar (or the same) tasks gets boring. Sure it works! But it’s monotonous. Sure it works! But it’s mundane. So you need to find the sexy in monotony. Find the sexy in mundane. Find the sexy in doing the same thing twice and getting an excellent result. Get stuck on the hamster wheel that’s sexy. And then repeat it. For decades. Enjoy the pod x SummaryGreg Crowe shares insights on how consistent, boring business practices can lead to long-term success. He emphasizes the importance of sticking to what works, maintaining excellence, and focusing on relationships and profitability over time.Keywordsbusiness success, consistency, profitability, excellence, business growth, long-term strategyKey TopicsThe concept of positive hamster cycles in businessImportance of sticking to proven strategiesMaintaining 20-40% net profit on jobsLabor efficiency and quality of workThe role of the office in business profitabilityThe importance of being excellent and service qualityLong-term focus over short-term gainsThe value of continuous improvementTitlesThe Power of Boring Business SuccessWhy Consistency Wins in BusinessChapters00:00 Introduction: Why Boring Businesses Win00:30 The Negative and Positive Hamster Wheels01:23 Getting Stuck in a Positive Cycle02:17 Remembering When Your Business Worked03:16 Diverting from What Works04:13 The Power of Consistency and Boredom05:11 Revenue and Expenditure: The Basics06:35 Introducing Dave: The Business App08:29 Avoiding the Shadowy Place: Jobs Under 20% Net Profit09:23 Gross Profit vs. Net Profit10:16 The Importance of Paying Yourself a Market Wage11:14 Managing Ongoing Jobs for Profitability12:43 Learning from Job Mishandling14:12 Checking Job Profitability and Labor Efficiency16:25 Opportunity Cost and Office Time18:01 The Value of Office Management and Quotes19:44 The Cost of Rushing and Mistakes21:06 The Power of Chasing Subcontractors22:07 The Money is Made in the Office23:27 The Core Values: Make Money, Build Wealth, Be Kind24:28 Be Excellent: The Key to Business Success26:46 The Importance of Quality and Communication28:10 Progressing in Business: The Car Park Analogy29:36 The Boring Path to Success30:34 Final Thoughts: Consistency and Excellence
- 1 weeks ago27 min
#322 // “Five Simple Ways To Make More Money In Your Electrical Business (Part 8) 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? That revenue would consistently hit significantly above expenditure. Be kind. Repeat. May these words inspire you as you proceed on your journey of making money, building wealth + being kind. Much love, CroweSummaryIn this episode, Greg Crowe dives into the crucial aspects of labor efficiency in electrical businesses, emphasizing the importance of measuring paid vs. allocated hours, utilization, and quality of work. He shares practical insights and stories to help business owners optimize their operations and boost profitability.Keywordslabor efficiency, electrical business, productivity, utilization, profitability, business growth, labor management, efficiency metricsKey TopicsLabor efficiency metrics: paid vs. allocated hours, utilization, qualityImportance of measuring and controlling overheads and break-even ratesThe impact of quality hours on profitability and business growthStories illustrating low-quality work despite good utilizationStrategies for effective labor management and scheduling TakeawaysEvery hour must have a clear purpose and a 'home' in your business.Utilization and allocation are separate metrics; both must be optimized.Quality of hours is subjective but crucial; it impacts profitability.Controlling break-even rates is essential for sustainable profit.Regularly review and adjust labor metrics to prevent low-quality work and inefficiencies.TitlesMastering Labor Efficiency in Your Electrical BusinessThe 3 Key Metrics to Boost Your Electrical Business Profitability Sound bites"Make sure weekly revenue exceeds expenditure""Your numbers show you everything about your business""Labor hours must have a clear 'home' in your business"Chapters00:00 Introduction to labor efficiency and its importance09:28 Measuring paid vs. allocated hours09:57 Understanding utilization and break-even rates10:24 The significance of hours having a 'home' in your business11:22 Defining roles and expectations for staff12:48 Controlling break-even rates and overheads15:13 Assessing overheads and overhead drop16:11 The difference between allocation and utilization17:34 The importance of quality hours and subjective measurement19:29 Stories illustrating low-quality work despite good metrics26:04 Final tips on daily and weekly labor management
- 3 weeks ago35 min
#321 // “Five Simple Ways To Make More Money In Your Electrical Business (Part 7) 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? That revenue would consistently hit significantly above expenditure. Be kind. Repeat. May these words inspire you as you proceed on your journey of making money, building wealth + being kind. Much love, CroweSummaryIn this episode, Greg Crowe shares essential strategies for managing and maximizing profitability in electrical businesses. From understanding break-even rates to optimizing project management and quality of hours, learn how to make smarter decisions that grow your business.KeywordsElectrical Business, Profitability, Project Management, Break-even Rate, Cost Control, Job Estimation, Quality of Hours, Contractor RelationshipsKey TopicsUnderstanding and controlling break-even ratesEffective project staging and claimingChoosing the right contractors and suppliersManaging project scope and variationsEnsuring quality of hours and team organizationUsing metrics like gross and net profit per hourImportance of site walkthroughs and variation managementStrategic decision-making in ongoing jobsTitlesMastering Profit in Electrical Business: 12 Key StrategiesHow to Control Costs and Maximize Profit in Electrical ProjectsSound Bites"Make more money by managing your costs and projects""Know your margins before you start a project""Quality of hours is subjective but crucial"Chapters00:00 Understanding Financial Metrics in Electrical Business05:06 The Importance of Ongoing Job Management09:51 Evaluating Project Viability and Margins15:00 Building Strong Relationships with Contractors19:54 Maximizing Profitability Through Quality Management
- 3 weeks ago28 min
#320 // “Five Simple Ways To Make More Money In Your Electrical Business (Part 6) 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? That revenue would consistently hit significantly above expenditure. Be kind. Repeat. May these words inspire you as you proceed on your journey of making money, building wealth + being kind. Much love, CroweSummaryGreg Crowe shares insights on managing electrical business projects, emphasizing the importance of accurate quoting, effective communication between office and site, and fostering a positive company culture to ensure profitability and growth.KeywordsElectrical Business, Project Management, Quoting, Business Growth, Company CultureKey TopicsImportance of accurate quoting and formulasCommunication between office and siteOpen book pricing and transparencyStaff management and cultureFinancial metrics: gross profit, net profit, revenueLong-term business planning and growth strategiesTakeawaysGetting the quote right from the office is crucial for project success.Open communication and transparency with clients can lead to more contracts.Regular staff check-ins improve team cohesion and performance.Focus on people, processes, and numbers to build a sustainable business.Visualizing your future business helps set clear goals.TitlesMastering Electrical Business Projects: From Quoting to CultureThe Secret to Profitable Electrical ProjectsSound Bites"It's so important to get the formula right from the office.""Open book pricing can flip the client from doubt to yes.""You manage people, and that’s the key to success."Chapters00:00 The Importance of Accurate Quoting05:09 Balancing Office and On-Site Operations09:28 The Role of Transparency in Client Relationships14:15 Building a Strong Team Culture19:33 Financial Growth and Business Sustainability24:16 Vision for the Future: Planning for Success
- 4 weeks ago22 min
#319 // “Five Simple Ways To Make More Money In Your Electrical Business (Part 5) 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? That revenue would consistently hit significantly above expenditure. Be kind. Repeat. May these words inspire you as you proceed on your journey of making money, building wealth + being kind. Much love, CroweSummaryIn this episode, Greg Crowe shares practical insights on managing ongoing jobs, quoting strategies, controlling your calendar, and understanding your break-even rates to improve profitability and business growth.Keywordsbusiness management, quoting strategies, break-even rates, project management, electrical business, construction, business growth, time managementKey TopicsManaging ongoing jobs over 20k to 2 million+The importance of quoting and follow-up questionsControlling your calendar and time managementUnderstanding and calculating break-even ratesThe role of contracts and pricing in project successBuilding relationships with clients and staffLessons learned from business growth and mistakesThe importance of quality work and materialsTakeawaysOngoing jobs over 20k are the easiest to get wrong but hardest to fix.Always allocate 30-60 minutes to review quotes before sending.Your calendar reflects your priorities; control it to control your business.Know your break-even rates, including fixed and variable costs.Build strong relationships with clients and staff for long-term success.Mistakes in quoting and project management can be costly but teach valuable lessons.Focus on quality materials and workmanship to ensure work stands the test of time.Be aware of market rates and adjust your pricing accordingly.TitlesMastering Ongoing Jobs: Strategies for Electrical Business SuccessHow to Control Your Calendar and Boost ProfitabilitySound Bites"Ongoing jobs over 20k are the easiest to get wrong.""Your calendar reflects your priorities.""Know your break-even rates to stay profitable."Chapters00:00 Introduction to Managing Ongoing Jobs00:30 Common Mistakes in Quoting and How to Avoid Them01:55 The Importance of Reviewing Quotes and Asking Good Questions02:50 Controlling Your Calendar and Time Management04:17 The Power of a Well-Structured Schedule05:43 Sending Quotes: Pleasing Both Present and Future Clients07:12 Building Long-Term Relationships and Forecasting09:34 Handling Difficult Conversations with Clients10:56 Lessons from Business Growth and Mistakes12:48 The Value of Experience and Continuous Learning15:09 Understanding Break-Even Rates and Cost Components17:27 Controlling Overheads and Variable Costs19:50 Final Thoughts: Avoiding Costly Mistakes in Quoting
- Jun 29, 202630 min
#318 // “Five Simple Ways To Make More Money In Your Electrical Business (Part 4) 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? That revenue would consistently hit significantly above expenditure. Be kind. Repeat. May these words inspire you as you proceed on your journey of making money, building wealth + being kind. Much love, CroweSummaryIn this episode, Greg Crowe shares practical insights on how service industry businesses, especially electrical, solar, and aircon companies, can increase profitability by focusing on labor and materials, effective quoting, managing staff, and personal finance discipline.Keywordsbusiness profitability, service industry, labor and materials, quoting, staff management, personal finance, ongoing jobs, project management Key TopicsLabor and materials split in service businessesEffective quoting and variation managementImportance of personal and business budgetsManaging staff performance and accountabilityHandling ongoing jobs and client relationshipsTitlesMastering Profit in Service Businesses: Greg Crowe's Top StrategiesHow to Use Labor as a Trojan Horse for Profit Sound Bites"Labor is a Trojan horse for profit""20% of a higher number is a higher number""Not all revenue is good revenue"Chapters00:00 Introduction to Profitability in Service Industries02:30 Understanding Labor and Materials in Business05:17 The Importance of Budgeting in Business08:36 Time Management and Its Impact on Profitability11:33 The Consequences of Poor Staffing Decisions14:26 Identifying and Managing Underperforming Staff17:16 The Ripple Effect of Bad Decisions in Business20:38 The Importance of Client Relationships23:31 Final Thoughts on Business Success
- Jun 27, 202634 min
#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, CroweSummaryIn 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.KeywordsElectrical Business, Solar Profit, Aircon Business, Profit Strategies, Quoting, Ongoing Jobs, Business EfficiencyKey TopicsProfitability in service businessesEffective quoting and variation managementOngoing job profitability trackingImportance of consistency and disciplineBuilding relationships for ongoing workTitles5 Simple Ways to Make More Money in Your Electrical BusinessHow 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?"Chapters00:00 Maximizing Profit in Service Businesses02:56 Understanding Profitability Metrics06:12 The Importance of Consistency and Discipline09:06 Evaluating Ongoing Jobs for Profitability12:00 The Role of Reputation and Word of Mouth14:51 Quoting and Pricing Strategies17:46 Managing Variations and Client Expectations21:10 The Value of Relationships in Business24:01 Learning from Experience and Mistakes26:55 The Importance of Communication in Business30:09 Conclusion and Next Steps
- Jun 24, 202620 min
#316 // Why You Should Raise Your Rates On July 1 (Part 2) with Greg Crowe
July 1 is coming up, and there really is no better time to consider a rise in rates + margins. Today we discuss 7 key items that will help you in your decision. Good / Excellent Relationships With Clients Is The Key Can you have hard conversations with your clients? Can you talk money with your clients? If you can’t, how strong is the relationship? Life, and business, is all about building relationships A good relationship is built on mutual respect, trust, transparency etc Don’t be scared to fill them in on what’s going on Avoid The Generic Email, Go And See PeopleOr at worst case call them Imagine if someone is having a bad day, or your relationship is already on the rocks, and they get an email about your price rises Delivering the news in person you can gauge their emotions + also communicate effectively Definitely for all your major clients, everyone else can be just told along the way A generic email to 1000 clients should be absolute worst case scenario. Think Of What This Actually Means For Your Clients A GPO might go up $10-$15+A 4 hour job might go up $40+ It’s honestly not that big of a deal Think Of What This Actually Means For Your Business Charging an additional $5 per person per hour = $40 per day = $200 per week = $10k per year Do this across 5 staff members that’s $50k straight to the bottom line Do this across 10 staff members that’s $100k straight to the bottom line Do this across 20 staff members that’s $200k straight to the bottom line Establish A Yearly Rhythm For Your Clients, Staff + Yourself Every year, your price will need to go up 3-5%Every year, your staff wages will need to go up 3-5%Every year, your wage will go up 3-5% in line with market value For the first year, this will feel uncomfortable. After 5 years, it will feel normal Don’t Overthink ItIt’s not something you have a say in, it’s company policy If you were the CEO, you would need to do this But Honestly, Sometimes OverThink It If you are making $2m a year and yo are genuinely worried, back your gut + put it on pause It’s time for you to get after your trade god ordained destiny of making money, building wealth + being kind. Much love,Crowe xSummaryIn this episode, Greg Crowe discusses the importance of strategic rate increases, building strong client relationships, and maintaining business profitability through disciplined daily practices and annual planning. Learn practical tips to raise your rates effectively while preserving trust and long-term success.Keywordsbusiness growth, rate increase, client relationships, profitability, daily discipline, annual planning, business strategyKey TopicsTiming of rate increases (July 1, January 1)Four key financial metrics: gross profit, gross profit per hour, net profit, net profit per hourImportance of daily discipline in checking job profitabilityBuilding strong, honest client relationshipsEffective communication when raising ratesAnnual rhythm for rate adjustments and cost increasesAvoiding generic communication, personal engagementLong-term mindset for business and client relationshipsTitlesThe Best Time to Raise Your Rates and How to Do ItMastering Client Relationships for Business Success sound bites"There's no better time than July 1 to raise your rates""Check every job for gross profit and net profit""Build relationships based on trust and transparency"Chapters00:00 The Importance of Raising Rates05:12 Building Strong Client Relationships10:02 Effective Communication Strategies15:03 Understanding the Financial Impact17:52 Final Thoughts on Rate Increases
About Sparky Coach
🥇Make money. Build wealth. Be kind.💰A market wage with a business net profit of 20-35%📈Increase your net worth🙏🏻Become the best version of yourself
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