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EP285: How to Stop Costly Estimating Mistakes for Contractors
•42:31

EP285: How to Stop Costly Estimating Mistakes for Contractors

estimating sales pricing strategy profitability
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Tonight's Episode

What if your contracting business is losing money before your crew ever steps onto the job site? A job doesn’t always become unprofitable during production. Sometimes, the profit was already gone the moment you sold it.


In this episode, Brad talks about:


  • The importance of accurate job costing
  • Common estimating mistakes: guessing labor and material costs
  • Understanding true labor burden rates
  • The impact of non-productive time on project timelines
  • The dangers of pricing based on competition
  • The necessity of a clear scope of work
  • Strategies to avoid discounting correct estimates


Links to resources


Grab my free job costing worksheet and start job costing every job right away.

https://go.hammercrm.com/widget/form/4Bws6E9GGX0RZPoED1bn


Want to go deeper?

Check out the Contractor Profit Blueprint: https://www.thecontractorprofitblueprint.com/

Book a strategy call with Brad: https://hammerandgrind.com/qualification-website


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Featured Guest

Brad Huebner

Brad Huebner

Host

Sponsored by

iGuide JobTread

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Key Takeaways

  • Jobs can become unprofitable at the estimation stage before work begins, not just during production
  • Accurate job costing and understanding true labor burden rates are critical to avoiding costly estimating mistakes
  • Common estimating errors include guessing labor and material costs, pricing based on competition, and not accounting for non-productive time
  • A clear scope of work is necessary to prevent discounting correct estimates and losing profit

Frequently Asked Questions

When can a contracting job lose profitability?

A job can lose profitability at the estimation stage when it is sold, not just during production on the job site

What are common estimating mistakes contractors make?

Common mistakes include guessing labor and material costs, pricing based on competition, not understanding true labor burden rates, and not accounting for non-productive time

What resources are available to improve job costing?

Brad offers a free job costing worksheet, the Contractor Profit Blueprint, and strategy calls to help contractors improve their estimating