5 Mistakes Most Contractors Make

I built up a reputation over three years of doing good work at low prices, woke up one day at how I was short changing myself and doubled my prices. I lost half my customers and was therefore making the same money for half the work. Result!

This guy is ridiculously knowledgeable and presents everything clearly. And then he hits us with the Trailer Park Boys clip. This man is gold, solid gold. Thanks for the video!

Great video .I have a couple small points to add after being a custom home builder for 30 years .ALWAYS ALWAYS have a change order form in your possession or make sure you always document anything that varies from your original bid from your approved set of plans. It truly makes everybody process much more enjoyable,Contractor /Customer . And my second bit of advice is take good care of your body .Construction will flat wear a soul out .Good luck and enjoy the craftsmanship of this trade .

2:28 Money 5:33 Communication 8:34 Regulations 10:12 Bookkeeping 13:48 Growth

You forgot to mention that when you find good help, take care of them. They're the key to running a successful construction business.

The best advice I ever got about quoting came from a salty old cabinet maker... He said "If you are not embarrassed to say the number, it's not the correct number." He said you have to plan for the bad job, or the unplanned expenses.. otherwise the first hiccup you encounter, you are losing money...

All 5 of your advises are right on. I was retiring and I sold my practice to my project manager. I spent 2 years with him while he paid me part of our agreed upon price. I told him everything you have mentioned in this video over and over. That all went out the window when he was on his own. He eventually lost his contractors license and his corporation license because he didn't pay return client phone calls or pay his subcontractors in a timely manner. He managed to destroy a $750,000 a year, one man company in less than one year by not paying attention to the tenants you just spoke about. Keep up your informative videos, I enjoy listening to them. Pete Daly San Diego, Ca,

I quit my desk job in January of this year- I was so worn down from working in a corporate environment. I own a rental house so I know how to fix things and remodel, so I jumped right in. I had no idea how much my own self-respect had begun to suffer until I began working for myself and began to gain real confidence. Best career move I have EVER made and I won't be looking back.

'Get out of bed early, work hard, treat people how you would like to be treated and odds are you'll have a good life'..... Amen to that. I could not agree more. God bless from England

All excellent points. As a GC for 20+ years, I realized that I was really someone with a gambling problem but didn’t know it. 🙋‍♂️

I am 52. My father was a GC and I have been building all my life. You remind me of the mentors of my early days that shaped me to be who I am today. Every one of your videos is a walk down memory lane when someone cared to teach the skills to be amazing! Thank you for sharing all that you do. I pray many young men and women find your chanel and apply your teaching!

Been in the trades. (mechanical contractor) for over 35 years and learned all the lessons in this video the hard way myself on a similar timeline. You hit all the nails right on the head brother! I was fortunate to be exposed to lesson #1 early from a wily old Air Conditioning man that I got my first job from. He would say, "I'm the most expensive guy in town and proud of it." Unfortunately, it took me quite a few years on my own to actually apply that lesson but it is so true. Strive to be the best in your field and don't be shy about charging a premium for it. It's hard at first but once you've EARNED the reputation, life gets much better.

Contractor for 38 years here. My word of advice for anybody starting out. Buy 1,000 pencils, and 100 utility knifes and HIDE them under the seat of your truck. Tell nobody you've done this. You'll thank me later.

"Do this for cheap and I'll have a lot of work for you in the future!" How many times have I heard that one?! Countless.

I’m sending this to my son because it has provided me with the most valuable advice that can help guide him through the FOUNDATION he needs at this time in his life. Thank you for YOU SHARING YOUR HEART

Iv been in carpentry/home renovation for about 10 years. Started working for myself this january and its the best decision i could have made. And i owe alot of thanks for my success to this man right here. I subscribed to this channel long ago and i regularly come back to rewatch videos just like this one. hearing your wisdom has made a better contractor out of me and honestly scott i could not thank you enough. God bless.

I've been a General Contractor for 30 years and All of these things are ABSOLUTELY 100 PERCENT TRUE. I had to figure out every single one of these things the hard way. 25 years to learn the information you just saw in this short video. I did every single one of the things described in this video especially on what not to do and the results are exactly as described! Once you figure all this out it can be a rewarding career. Most people including myself are just abt worn out by the time you figure all this out the hard way. If you disagree and think anything in this video will be different and not happen to you, you are sadly mistaken. 😁 Love all your videos guys. Keep up the good work.

The underbidding is so true. My boss under bids everything any constantly looses money. He also commits himself to a short finish time. This causes the employees to work in a rushed stressful environment because we have to go go go and get it done bc they didn’t charge enough.

I love listening to the gray haired guys. Everything in this video is right on. I can’t emphasize enough how accurate he is here. It is as accurate as any self-help help book I’ve ever read.

This is gospel to me. I’ve watched/listened to this several times. I really appreciate you taking the time to share your insight to this work, and as it applies to many other trades as well. Thank you!!