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430: Listener Email - Dealing with Cheap Clients

Service Business Mastery - Business Tips and Strategies for the Service Industry

Release Date: 01/08/2020

444 How To Operate Your Business Remotely with Ohana show art 444 How To Operate Your Business Remotely with Ohana

Service Business Mastery - Business Tips and Strategies for the Service Industry

Today's episode, we have Christina Zerfas talking with us about operating service businesses remotely. We often fear the communication aspect of operating remote, but Ohana software is the potential solution to that fear for you! Check out more at connect with Christina at CZerfas@tryohana.com to learn more about how it is free through June of 2020! Learn more about the CRM Tersh is using for day to day operations here 👉 Service Business Mastery Podcast

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443 - Are Indoor Air Quality Products Safe? show art 443 - Are Indoor Air Quality Products Safe?

Service Business Mastery - Business Tips and Strategies for the Service Industry

Do you ever wonder if indoor air quality products will actually kill viruses like the coronavirus, or are they simply just snake oil?  Have you ever desired to know the chemical composition of indoor air quality products? Check out Chris and Colby's point of view on current indoor air quality products!    If you're curious about the CRM Tersh uses for his personal business, check it Connect with Tersh on Social Media @tershblissett 

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442 - 3 Agile Marketing Myths with Andrea Fryrear show art 442 - 3 Agile Marketing Myths with Andrea Fryrear

Service Business Mastery - Business Tips and Strategies for the Service Industry

Today’s guest is an early convert to the ways of Agile marketing, who knows that Agile teams do better work in less time with less stress, and she loves nothing more than seeing a team evolve from chaos to high performance. Andrea Fryrear (FRY-rear) is the co-founder of AgileSherpas, where she works to guide marketers along the path toward greater agility. A content marketer by trade, Andrea holds multiple Agile and Scrum certifications. She’s a regular international speaker on all things Agile marketing, and she’s especially excited to share her expertise at the 2020 Marketing Agility...

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441- Digital Marketing w Ryan Cote show art 441- Digital Marketing w Ryan Cote

Service Business Mastery - Business Tips and Strategies for the Service Industry

Ryan Cote is the Director of Digital Services and Partner at Ballantine, a third-generation family-owned direct mail and digital marketing company based out of Fairfield, NJ. With Ballantine since 2003, a family-owned business started in 1966 by his great-uncle, Ryan now manages the growing digital marketing division. From lead generation to marketing strategy for small businesses, Ryan and his company rise above the get-featured-quick schemes so often attributed to digital marketing. He loves to geek out on technical marketing talk as well as work with real-world business owners about growing...

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440 - 3 Ways to Leverage a Framework to drive revenue, respect and resiliency in your business show art 440 - 3 Ways to Leverage a Framework to drive revenue, respect and resiliency in your business

Service Business Mastery - Business Tips and Strategies for the Service Industry

Today’s guest is Chad Sanderson, who has been leading sales and marketing teams to success for over 20 years through his proven and predictable ValueSelling Framework. Chad, who has been named a Top 5 Emerging Training Leader, has worked in sales, built teams, and achieved targets -- both within organizations and as a consultant. He cuts through the outdated, theory-based “fluff” so often attributed to sales training, and gets down to the nitty-gritty with a raw, no-BS perspective to look at what is working, what’s not working, and where there may be opportunities to drive...

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438 - Why You Need to Deal with Destructive Heroes within Your Business show art 438 - Why You Need to Deal with Destructive Heroes within Your Business

Service Business Mastery - Business Tips and Strategies for the Service Industry

Today’s guest is Ed Eppley, a global expert in professional management, sales strategy, and performance management. As a principal consultant for the Table Group, a Patrick Lencioni Company, and operator of The Eppley Group, he has worked with executive teams at multinational companies around the world. His clients include a “Who’s Who” of business category leaders such as BMW, Bloomberg, DSW, Goodyear Tire & Rubber Co., and others. A lifelong entrepreneur, Ed started an advertising agency and a manufacturer’s rep firm selling to the industrial and construction markets before...

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439: How Do I Grow My Business?  show art 439: How Do I Grow My Business?

Service Business Mastery - Business Tips and Strategies for the Service Industry

Reach out to Terry at Terry@innovativeba.com

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437 Does Emerson Solve The Tech Shortage Crisis? show art 437 Does Emerson Solve The Tech Shortage Crisis?

Service Business Mastery - Business Tips and Strategies for the Service Industry

Tersh talks with Brian Feenie on the Service Business Mastery Podcast about the Emerson product called the Sensi-Predict. This product is on pace to revolutionize the HVAC industry! It's not something that is new and unheard of, but it's new to the residential side of things. Listen to today's episode to learn how this adaptive technology is changing our lives for the better!  Reach out to Tersh, to learn more about this product, on social media @tershblissett most everywhere or email him   Learn more about the CRM that is taking over the industry by storm! Check out where I was...

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436: Add Value to Your HVAC System with an Extended Labor Warranty show art 436: Add Value to Your HVAC System with an Extended Labor Warranty

Service Business Mastery - Business Tips and Strategies for the Service Industry

Tersh talks with Don from JB Warranties about how we, as the service provider, can add extra value to our clients while also making money in the deal!! Plus, you get to keep that client for the life of the equipment rather than it just being a quick transaction when they purchase an HVAC system from you.  This episode is recorded live from the AHRexpo in Orlando FL 2020.    Connect with JB Warranties    Check out ThermoGRID   Connect with Tersh on social media @tershblissett most everywhere! 

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435: Providing Your Team A Safer Workplace with Spyder Products show art 435: Providing Your Team A Safer Workplace with Spyder Products

Service Business Mastery - Business Tips and Strategies for the Service Industry

Reach out to the Spyder Products team at www.spyderproducts.com or email them at dave.mcclure@spyderproducts.com or david.swisher@spyderproducts.com 

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More Episodes

On today's episode, we talk PERCEIVED VALUE vs INVOICE PRICE! We had a listener email us recently, and they asked for advice on how to handle a client who was giving them a fit about a price that they feel was extremely fair...if not, a little lower than standard for the HVAC industry. This service business owner would like to know what we would do if we were put in a similar situation with our heating and air conditioning small business.

Julie and Tersh talk between the two of them about ways to add value so that these types of calls are less likely to happen! Please share your thoughts and feedback with us! 

Also, connect with us on social media @tershblissett & @julieablissett Tersh@icebound.us if you'd prefer to email!

Click here for an explanation of how to figure out your billable hour for those who may be questioning themselves on the price they are giving their clients. 

Of course, to get a true picture of your business expenses, you'll want to calculate your overhead rate or direct service overhead. This is true whether you're a manufacturing firm or whether you are applying overhead in a service company. To do so, divide your overhead (indirect) costs, such as rent and utilities, by direct costs, such as labor. If your overhead costs are $100,000 and direct costs are $50,000, your overhead rate is 0.50, or 50 percent. If the typical overhead rate for companies in your industry is 75 percent, and your rate is 50 percent, you have a competitive advantage with your lower overhead.

But when calculating your overhead rate, keep these important factors in mind:

  • Materials cost. These are the costs of goods you use in providing the service. A mechanic's shop, for example, would need to factor in the costs of supplies, like engine oil, air filters, tools (though mechanics at a shop usually provide their own tools), spark plugs, brake pads, etc.
  • Labor cost. This is the cost of direct labor you hire to provide a service. As discussed, this would including the hourly wages or salary of the mechanics at the auto business, for example.
  • Overhead costs. These are the indirect costs to your business in providing services to customers and is different than the overall overhead rate. This would include the costs of any employees/support staff not working directly on the autos, such as billing clerks or administrative assistants and even human resources personnel if the firm is large enough. Other overhead costs include your monthly rent, taxes, insurance, depreciation, advertising, office supplies, utilities, mileage, and so on.