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Should I Change My Markup If I’m Not Making Sales?

By Michael Stone

Should you change your markup method if you aren’t making sales? Don’t spend hours fiddling with numbers; invest the time in your sales skills.


Taxes and Profit and Markup

By Michael Stone

Michael addresses a few different questions we’ve heard recently, primarily dealing with taxes and profit and calculating your markup.


How to Calculate Markup

By Michael Stone

When I teach a class or webinar, sometimes I wonder if my listeners understand what I’m trying to say. After reading some of the questions that came in during a recent webinar, I realized I missed the mark.


Profit and Loss and Markup

By Michael Stone

When your books are set up properly, it’s easy to calculate your markup, and it’s also easy to compare your actual results to your estimates.


Markup Worries

By Michael Stone

Remember, you’re in business to provide a service and make a profit doing it.


Your Labor Rate and Your Markup

By Michael Stone

Using the wrong labor rate, or using someone else’s markup when you don’t know their assumptions, is one of the biggest mistakes we see and the difference can be thousands of dollars.


Adjusting Your Markup

By Michael Stone

In Markup & Profit Revisited, we explain how to calculate your markup. We’re often asked if you can adjust your markup based on the length of the job.


Bookkeeping, Markup, Taxes, Advertising

By Michael Stone

This week I want to catch up on a few things that have been bothering me.


Markup Materials Only?

By Michael Stone

In a perfect world, estimated costs will match actual job costs. At the end of a perfect year, total job costs will equal projected job costs. It’s not a perfect world.


Adjusting Your Markup Based on the Job

By Michael Stone

Many contractors use a variable markup or margin to price jobs. They believe that in the construction industry you have to reduce the price to get the job.


Pricing Jobs Right

By Michael Stone

Not charging enough for your work is the major reason construction companies fail. Here are some of the mistakes contractors make when pricing their jobs.


Recover Overhead and Profit in your Labor Rate

By Michael Stone

There are four basic ways to charge for construction services. These are fixed fee or lump sum pricing, Time & Material pricing, Cost Plus, and using an hourly rate.


Labor Rate for Construction

By Michael Stone

I’m frequently asked for the “industry standard” rate per hour for various types of work. There isn’t an industry standard markup, and there isn’t an industry standard hourly labor rate.


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