Ep 202 - You're an Electricpreneur Not a Concession

Have you found yourself in a predicament where you've been asked to do electrical work for friends or family, and when it's time to talk payment, the room falls silent? Together with Joe, we unravel this touchy subject of pricing for electrical work, particularly when it comes to those close to us. In a candid chat, we dissect two common situations you might find yourself in - when there's a gaping difference between the client's price expectation and the actual cost, and when the discomfort of asking for payment post-job leaves you short-changed. We delve into practical ways on how to handle these scenarios, emphasizing the significance of setting transparent expectations at the get-go and ensuring your worth is duly acknowledged.

But that's just the beginning. We also shed light on the importance of requiring deposits before starting any task, comprehending your gross profit margins, and the art of managing your finances effectively. We share insights on why a hike in your prices could lead to a more satisfying experience for your clients and why you should never underestimate your worth. We'll guide you through the five account system and the pros of selling multi-year maintenance agreements. So join us on this enlightening episode as we explore the concept of intentional pricing and learn when it's perfectly fine to turn down work that doesn't resonate with your values.

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