TIME IS MONEY
Mastering Billable Hours in Your Trade Business
Want to learn how the Tradies Success Academy can help you optimise your trade or construction business for profit, growth, and time freedom?
Are you working harder but not seeing the results you want? It might be time to dive deeper into your billable hours. In this episode of The Tradies Success Podcast, accounting coach Chantel Laird shares insights on how to make the most of your time on the job.
Why do billable hours matter so much? It's not just about tracking your time; it's about understanding the hidden costs and maximising your profit. Chantel explains that by tracking your billable hours, you can identify areas where you're losing money, such as non-billable tasks or inefficient work processes.
Key takeaways from the episode:
Understand your true costs: Beyond your hourly rate, consider factors like travel time, office expenses, and even downtime due to sick leave.
Maximize efficiency: Streamline your processes to reduce wasted time and increase productivity.
Structure your pricing: Build your quotes to account for both billable and non-billable hours, ensuring profitability.
Motivate your team: Create a system that rewards efficiency and helps your team achieve their goals.
By understanding your billable hours and taking steps to optimise them, you can increase your profitability and achieve your business goals.
If you enjoyed this episode, here are three more we think you’ll love!
