#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