Transcript
Baker Plbg: okay for this video i'm going to try something new and put a link in the description and see if it actually works Lots of people have asked me for... The definition between markup and margin.
Baker Plbg: which is an absolute game changer as far as I'm concerned in the trade market. Everybody thinks that you should be making an X amount of money. Markup.
Baker Plbg: About 20 years ago. I threw that out and said I am making a margin And so. There's that. There's a website called Augmented Trades, which I'm going to put.
Baker Plbg: the link in the description. that gives a really good article about the differences between that. And then. um It actually has a couple of...
Baker Plbg: awesome tools, break even calculator, your true hourly. rate calculator. a business and I think the business template is a subscription.
Baker Plbg: To get it, but it has a free margin calculator which i think you should absolutely incorporate into your business today. You want to make changes in your business? today? Do you want to see more money in your bank account?
Baker Plbg: today. then you need to change from markup to margin. There's there's a real disparity and misunderstanding of what those two words mean and every contractor that I know wants you to build.
Baker Plbg: margin our markup and not margin. And it's going to take some guts and it's going to take some fortitude and it's going to take some difficult conversations and maybe walking away from a few clients here and there.
Baker Plbg: As you. navigate the differences between that and what that means to the success of your business. to the success of your bank account. uh which is really what we're i mean the reality is that's what we're in business for is to make money and to provide for our families.
Baker Plbg: Check it out. Let me know if it works.
