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September 13, 2023 42 mins

I'm excited to share insights from a recent episode of the Profitable Home Services Podcast where I had the pleasure of hosting Jeremy Lowe from Profit Rhino and Service Fusion. With over 40 years of experience in the industry, Jeremy has a wealth of knowledge to share. We explored the vital role of financial education for business owners. A surprising number of students struggle to calculate profit margins correctly, emphasizing the need for entrepreneurs to take control of their finances

In this episode, we discussed:

  • Jeremy's love for photography and the importance of paying attention to opportunities

  • Discussion on flat rate pricing and its benefits

  • Importance of understanding the financial side of running a home service trade business

  • Misconception that sales are the lifeblood of a business, emphasizing profit and cash flow as key drivers of success

  • Fear and discomfort business owners have when it comes to understanding their numbers

  • Importance of education and training for contractors in the home service industry

  • Aim for higher net profits and working on the business rather than being constantly busy

  • Importance of working with customers who appreciate and value your services

  • Unique profit leaks in home service businesses and finding innovative solutions to maximize profitability

 

Listen to all episodes at https://profitablehomeservices.com/

Get a free copy of the Path To Profits Book at https://yourpathtoprofitsbook.com

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