Have you checked out the California Painting and Decorating Contractors Assn? They are a valuable resource for all painting contractors. One seminar that I saw online is about finding the cost of each bid. Not the job cost when done, but the cost of giving the bid. The following is an excerpt of the leading paragraph:
HOW MUCH DID THAT BID JUST COST YOU??
It’s a fair question. The answer to which is certainly worth knowing. Surprisingly, however, many business owners have no idea what they’re actually spending – from a marketing standpoint, at least – to carry out their trade.
What’s your cost-per-lead?
What’s your cost-per-sale?
And, ultimately, what constitutes a really good lead? Or a really worthwhile sale?
Answering these more granular questions with complete candidness is how businesses of all sizes develop in the direction that best suits them – growing their profit margins as they go.
Now here’s the good news: it’s not that hard.
Calculating your cost-per-lead, cost-per-sale, and the handful of other metrics that’ll help you work less while earning more boils down to simple math. It’s what comes next that requires effort, commitment and stick-to-itiveness – but as a business owner, you already have those qualities in the bag.
Go online to PDCA.org and check them out!
