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Took me 6 years to realize my bids were leaving money on the table
I used to price jobs based on what I thought was fair and then add 10% for profit. But after I met a retired contractor at the Home Depot in Phoenix last month he showed me his old bid sheets and he was charging 40% overhead on every job. How do you figure out your real overhead percentage without guessing?
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troyc175d ago
Oh man, I feel this. I spent YEARS thinking 10% was plenty and wondering why I was always so broke at the end of the year.
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charlieh745d ago
Why is 10% not enough though?
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abbyf795d ago
Oh gosh, I've been there too. I think I treated my savings account like a joke for way longer than I'd like to admit. I'd put in my 10% and then pat myself on the back like I was some kind of financial genius. Looking back, I'm pretty sure my coffee habit alone was eating more than that 10% every month. My savings account was basically just a very slow, sad leak in my budget.
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