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Speaker 1: If you're a contractor who feels nervous every time you

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give a price, if you worry customers will say it's

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too high, or you keep lowering your number just to

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get the job, then this episode is going to change

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your entire business, and in fact, it may even change

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your life.

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Speaker 2: Cue the intro.

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Speaker 3: Welcome to the Master of thenec podcast, the ultimate destination

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for anyone passionate about the electrical trade.

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Speaker 4: Whether you're a season electrician, an eager apprentice, or.

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Speaker 3: Just someone who wants to dive deep into the world

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of electrical work, you've come to the right place.

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Speaker 4: Join your host, Paul.

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Speaker 3: Abernavi, a true authority in the industry with over thirty

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eight years of trade experience, as he electrifies your mind

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within depth discussions, expertips, and valuable insights that.

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Speaker 4: Will keep you ahead of the curve.

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Speaker 3: Each episode, Paul will illuminate the complexities of the trade,

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decode the national electrical code, and share the latest need

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is free friends, all while empowering you to take your

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electrical career to the next level. So gear up, plug in,

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and get ready to supercharge your knowledge. Because with the

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mass of the Neez podcast, the power is in your hands.

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Speaker 4: Now get ready. Here is your host, Paul Abernathy's.

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Speaker 1: What up, everybody? Welcome to another episode of Master the

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NEC Podcast. My name is Paul Abernethy. I am your host.

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I am the electrical guru with all the answers, whether

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it's the National Electrical Code HR for your business management,

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understanding growth, anything revolving your contracting business, as well as

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learning the National Electrical Code. Hey, I'm a resource for you.

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Whether you're listening on our mobile app, which is free,

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by the way, all you got to do is go

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do fast tracks System that's tr e X by the way,

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fasttrackssystem dot com and and you will see in the

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navigational link you can get a download to our actual

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mobile app.

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Speaker 2: And on our mobile.

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Speaker 1: App, you can look at blogs, you can read the blogs,

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you can look at the calculators, you can you can

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listen to podcasts like this one as well as our

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other Let's Ask Paul podcasts. There's literally over a thousand

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episodes of various podcasts that you can listen to on

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the mobile app, or if you want, just go to

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your regular search engine, Google, Bang whatever and type in

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Master the NEC Podcast all separate words, and you will

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find that We are syndicated on all types of platforms,

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whether it's Spreaker, Spotify, Dzer, Apple podcasts, Google podcasts, iHeartRadio,

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on so many platforms, whichever one Spotify, whichever one you

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choose to listen on. We were glad that you found us,

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and we appreciate that you're here and hope that you're

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join us for future episodes.

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Speaker 2: Well, like the intro said, today, we're going.

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Speaker 1: To talk about a little bit okay, and you know what,

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we're going to be diving into one of the most

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emotional misunderstood on financially critical topics in the trade. Whether

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you're an electrical, plumbing mechanical, it doesn't matter. This thing

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is always the little mole that's sitting in the back

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of your brain going am I too high?

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Speaker 2: Or am I too low?

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Speaker 1: So when it comes to pricing, most don't have a

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pricing problem, they have a confidence problem. They charge less

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than they should to avoid confrontation, to avoid losing jobs,

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and to avoid hearing the customer push back, and because

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of that, they stay stuck forever in this low pricing

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tier strategy. Now, I'm gonna remind you listen to previous

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episodes that we did. We did an episode specifically talking

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about ways to retain that customer. Make sure you go

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back and listen in the episode forty four forty five.

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You're gonna see some real powerful stuff that's going to

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be helping your business. So go back check it out

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on our Master the NEC podcast. Those are some amazing

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things that are gonna help you. All right, So what

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are we gonna do here y today's episode we call

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it the pricing Reset, charging what you're worth without fear. Now,

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by the end of this episode, you're gonna fully understand

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why you under charge, why clients choose confidence over low price.

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You're gonna know that your anyc knowledge instantly elevates your value.

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And if you're ceeing ECP or your certified thermal electrician,

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your value is already going through the roof because you

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know how to market yourself properly. Dude, people aren't going

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to toot your horn for you, and if they do,

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it's not very lasting. You have to understand how to

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toot your own horn. Confidence not cockiness, spread the word marketing,

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it all in how you do it. Okay, we're gonna

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be talking about the psychology of premium pricing, how to

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present your price without flinching, and how to attract the

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right customer, you know, the ones who are happy to

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pay you your worth, not those low ballers who are

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gonna end up arguing or complaining or being a nuisance

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to you. All of that we're gonna talk about in

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today's episode. So buckle up, get you a pen and paper.

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Write this stuff down. Important milestones that we're gonna be

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talking about today. So at the end of the day,

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let's get into it first. Why most contractors under charge. Now, look,

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I'm gonna be blunt. Most of you out there contractors

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lower their price because they are afraid of rejection. Well,

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you don't have to hide behind it, you can, you know,

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I'll state the obvious. You don't have to. Everybody hates

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to hear no. Because if you bid a job, or

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you do something and you don't get the job, always

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in the back of your mind, could I have been

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was my price too high? Should I've got the job?

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I didn't get the job? Maybe I need to lower

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on my price. All those things start creeping into your mind.

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Speaker 2: But look, here's the truth.

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Speaker 1: The fear of the client saying you're expensive keeps more

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contractors broke than anything else in this industry period. Undercharging

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comes from not wanting to lose the job, comparing yourself

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to a low bid hack. You heard me right, a

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low bid hack who's working out the back of their

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nova from nineteen seventy two. Okay, you get what I'm saying,

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although I'd still like to have one of those. But anyway,

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you get it right. Thinking you owe a customer a discount,

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you think you owe them something because they want your business.

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You don't owe them anything but good service. Believing you

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must match competitors, assuming the customer can't afford quality insecurity

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in your work, work, your communication skills. Go back and

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watch or listen, I should say to our last couple episodes,

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episode forty four forty five. Go back and listen, folks,

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build that confidence.

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Speaker 2: You're worth it. But you also need to work.

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Speaker 1: On why you have to have that confidence, Whether you

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become a CEMECP, a Certified Thermal Electrician, whether or not

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you gain more knowledge in the sec how you market

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yourself and your community.

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Speaker 2: You've got to.

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Speaker 1: Walk the walk to talk to talk. Okay, but look,

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here's what you must understand. Customers don't want the cheapest

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contractor yeah, you get some of those people that are

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on social media or your next door or your Craigslist

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or whatever, and what do they do They put out there,

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I want a cheap, affordable electrician, but then in the

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same breath they want a reliable You can't have cheap

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and reliable all the time. Sometimes cheap is cheap, And

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maybe I don't want to be pigeonholed into that cheap

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contractor mentality. Some people are happy with that, which you're

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not gonna grow, You're not gonna scale with that mentality. Look,

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customers don't want the cheapest contractor. They want the contractor

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who gives them the most confidence. That's right, that's you,

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if you claim it, it's there for you.

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Speaker 2: Don't be fooled. Don't be fooled. And again, do you

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want to be the cheapest?

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Speaker 1: Do you want that kind of customer that all they

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care about is price rather than quality.

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Speaker 2: They don't know your business, they don't.

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Speaker 1: Know your model, they don't know your overhead, they don't

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know what you've done to get from point A to

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point B.

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Speaker 2: But immediately the first thing out their mouth is what's

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your price?

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Speaker 1: Are you the cheapest you? No, I'm not the cheapest,

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but I'm the best, and here's why. So, look, you

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gotta think about this from the right mental approach here. Okay, Now,

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the confidence to price connection, what does that mean?

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Speaker 2: Okay?

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Speaker 1: Now, when you raise your prices confidently, something magical happens

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in your psyche. The customer is look, a good customers

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stay and a bad customer leaves. Why Because low price

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attracts complainers, micro managers, slow payers, tire kickers, warranty abusers,

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customers who want the impossible done at an impossible price.

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Speaker 2: But are you gonna keep chasing your tail?

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Speaker 3: Now?

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Speaker 1: You're the cream of the crop, You're the trade. You've

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earned this. There are people who make your life miserable

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and it's those low ball tire kickers, slow paying, micromanaging complainers.

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Speaker 2: Right, when you.

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Speaker 1: Raise your rates, you push those people away and you

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attract customers who value professionalism, safety and code compliance. I'm serious, folks,

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do not think you need to scrape the bottom of

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the barrel to be successful. Yes, you might get one

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here one there, But if you're not making any damn

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money on it, you really getting anywhere? And is that

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the customer that's going to be a reoccurring golden goose?

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Speaker 2: Down? The road. No they're not.

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Speaker 1: Think about it. Position yourself properly. Now let's talk about this.

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How is YOURNC knowledge is going to make you worth

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more whether you're in our fast tracks program or you

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have our Master the NEC post Licency program, whether or

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not you're just a student of the NEEC, whether or

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not you spend that time devoting yourself to being one

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step above your competition. I mean, let's face it, you're

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listening to this podcast. I'm an electrical guy. I teach

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you electrical things. You want to be at the next level. Subconsciously,

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you're making a direction towards that next level. Now, this

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is where you can shine more than anyone else when

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you speak from authority, code safety, if you offer thermal

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imaging from understanding and interpretation and compliance, and how you

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convey this to the customer with carrying yourself with the

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swagger because you have the knowledge, whether you're a CEMECP

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and you went through the program and you enhanced your

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knowledge of the National Electical Code so that you can

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talk about it with confidence. I know people who talk code,

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and I don't know that they actually believe what comes

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out of their mouth because their confidence is lacking. When

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you speak from authority, it is a game changer. For example,

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here's why the NEC requires there's this, here's the safety

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hazards you're facing. Here's why the system needs to be upgraded.

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Here's why Thermal imaging shows you what's going on. And

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I found this for you, and this is what it means. Now, look, folks,

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you have to understand how to convey this stuff to

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your customer. You think that you're not a salesman and

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you're not somebody that's just selling snake oil. What you're

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doing is you're selling your experience, your knowledge, your understanding,

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and this is what you're getting paid for. But the

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ability to convey this to the customer is key. And

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I talk about this in a previous episode of this Communication.

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It doesn't just mean running your lips. It means following

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a system and getting that information out to your customer,

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setting expectations, understanding the scope of the project, conveying that

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scope so there's no misrepresentation anywhere. This is all part

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of that important communication thing. You need to learn how

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to be a salesman by selling truth to your customer.

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Speaker 2: Now listen carefully.

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Speaker 1: Contractors who educate dominate contractors who fear pricing disappear and

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get absorbed. I'm telling you, olks, it's proven. Customers will

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absolutely pay more for a safety conscious employee, a safety

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conscious contractor, a safety conscious person. Accuracy, long term quality,

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code compliance, expert level diagnostics, the ability to convey to

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the customer what's going on and why you did it

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and what the solution is to their problem. When you

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position yourself as the expert, pricing stops being the deciding

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factor in God, can you imagine how much nicer it'll

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be if you did didn't start worrying about why I

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didn't get this job or why didn't get this job.

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If somebody is going to do this based on price alone,

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then you did not sell them properly. Maybe they're in

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the market for a Taurus, but you're selling a Porsche. Okay,

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totally different mentality. Now, let's talk about the psychological process

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of premium pricing. So I like to say the psychology

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of premium pricing. There's there's a there's a method to it.

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Let's talk psychology. When you charge more number one customers,

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assume you know more price signals, expertise. I'm serious, folks.

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If Toyota makes Alexis and then they make a Prius.

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Speaker 2: Okay, Alexis in Prius.

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Speaker 1: That's just that's a wide example, by the way, but

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again there's a more for the expectation of luxury.

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Speaker 2: When it comes to pricing.

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Speaker 1: You're worth more price signals expertise rather than Jimmy lowball.

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Number two customers assume you will do it right the

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first time because of your pricing structure and.

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Speaker 2: Your confidence.

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Speaker 1: Looking the part, wearing the shirt with your logo on it,

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showing up professionally, doing all the other things that we

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talk about in other episodes that we've talked about between

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episode forty four and forty six, carrying yourself as a professional,

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those type of things are gonna help with that psyche.

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The customer assumes you will do it right the first time.

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Number three customers respect your time more, you're a professional.

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Number four customers trust you before you even start doing

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one thing, Before you start turning one nut or bolt,

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they start to they start to trust you more. Premium

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pricing isn't about greed, folks. It's about aligning yourself with

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value and how you rate yourself on that value scale.

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You must rethink your mentality of this pricing structure. We're

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not saying gallaged people. We're not saying doing things arbitrarily

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to inflate pricing. We're saying, understand your pricing model, feeling

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confident in it, knowing what your burdens are, what your

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overhead is, what you have to make. The more employees

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you have, the more overhead you're gonna have. Understanding your

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pricing structure and what you're worth, and sticking to it

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and not worrying if you lose a project because you

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somebody lowball them.

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Speaker 2: That's a one and done.

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Speaker 1: That is not a method of long term success by

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worrying about the low ball. I'm telling you now, you

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may have lost one or two now. And you say, Paul,

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that's not right. I just can't stand when I lose.

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Not in it to win it yet, you're just willing

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to give away the farm. You're not there yet. So

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the next thing we'll talk about is the no flinch

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price presentation method. People say, what the hell is he

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talking about? Now? No flinch price presentation method. Here's how

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you deliver your price with confidence. You're ready, folks. It's simple.

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Speaker 2: Four steps.

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Speaker 1: Number one, state the price with a calm, steady voice.

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For example, the investment for this project is twenty four

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hundred and fifty bucks, and I wouldn't say bucks, I

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would say the investment for this project for you is

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twenty four hundred dollars or twenty four hundred and fifty

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dollars to be able to do what we have under

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this scope of this project for you. Then what do

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you do after you give them the price?

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Speaker 2: Shut up? Folks.

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Speaker 1: People want to want to banter back and forth. People

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want to negotiate. There is no negotiation here. Give your price.

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If you charge by the hour, give your price, this

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is what my price is to do the job, and

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then shut up. Silence is your friend here, folks. Step three.

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If they hesitate, go into education. Don't go into the

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discounting structure. Don't start saying, well, i'll give you ten

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percent off of fifty pericks.

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Speaker 2: Don't do it.

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Speaker 1: Don't fall down that rabbit hole. If they start to

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hesitate on your price, the moment the silence and you

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see it in their eyes, you can tell and there's

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a hesitation. This is when you immediately go, well, let

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me explain here is what this covers. Or you go,

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here's why that the here's why that's the correct solution,

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or here's the long term benefit. But go into the

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scope of what it's covered, what you intend to do, who,

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what you intend to include, what you intend to fix

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with confidence. That pause between pricing and explaining, there's that hesitation,

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there's that silence that you must have with a customer.

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You'll know it, you'll feel it then and only then

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after you explained it. You've educated them on the full

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scope of what you're covering in your pricing, what you're

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going to do for them. Step four, Do not apologize

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for your price. Do not say things like I know

309
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it's a lot. Do not say things like I can

310
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probably work with you a little bit. Do not say

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don't worry, I'll make it cheap. Folks, every time you

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apologize for your price, you train a customer to negotiate

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with you.

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Speaker 2: This isn't a negotiation. You know what you're worth, you

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know what your value is.

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Speaker 1: The problem is, and I can tell you right now,

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so many people out there, technicians or whatever, whether there's

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a wiggle room built into pricing from the home office

319
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or from their employer or whatever, the problem is, everybody's

320
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so eager to give a price and then start backing

321
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away from the price. The customer doesn't expect you to

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go up on your price, right. You hear all kinds

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of crap if you go up, so don't expect you

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to drop down. Justify what your worth is. Be confident.

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Remember eye contact and silence is key. But do not

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make excuses. This is not a negotiation, folks. You're worth

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every penny of what you've come up with as your

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pricing structure. You're not selling snake oil here. I'm assuming

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that I'm talking to reputable contractors out there who are

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just not out to fluff people. You're out there to

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help people. You want to earn a living, You want

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to get paid what your worth. I know you morally

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high ground folks out there that are listening to this

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podcast get it. And there's some of you shysters out there.

335
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You'll never get it. Okay, it doesn't matter. Your time

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is coming. It's just a matter of time before you

337
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fall by the wayside because you're a shyster. But the

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people that actually get it, that charge what they're worth,

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take pride in their value. Yes, it may mean you're

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more expensive than the other guy, but you have come

341
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to the point where this is your value. This is

342
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your overhead, this is your burden, this is what you're worth.

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This is what you need and you're not willing to

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back off of it for anybody. That's where you need

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to get.

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Speaker 2: Okay.

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Speaker 1: Next, the three numbers every contractor must know. Okay, you ready,

348
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These are the little gems folks. Take it away, save it,

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write it down, re listen to it later. I'm gonna

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give you the three numbers every contractor must know. Okay,

351
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to price confidently, you must know these things. Number one,

352
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your costs to show up your truck, your insurance, your fuel,

353
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your overhead, everything that goes into how you came up

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with your pricing structure.

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Speaker 2: You need to know what it is.

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Speaker 1: So everybody that owns a business that is doing this,

357
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because if you work for somebody, you're following what the

358
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owner's done. So if you're the owner, I'm talking to you,

359
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you need to know what your pricing is, whether it's flat.

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Speaker 2: Rate or not.

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Speaker 1: You need to know what your pricing is, what your

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margins are. So for example, if it costs you one

363
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h and ten dollars just to roll up in the truck,

364
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then there's no damn way you can charge eighty five

365
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dollars an hour, dude, if I had a dollar for

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every electric contractor. And I do a lot of consulting

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to contractors, and some of them have me on retainer

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and I talk to their staff every month on a

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phone call or on a zoom meeting, and I come

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to them. I'll talk to them every month to talk

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to their employees and a bit different topics that they

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want me. They want me to be the bad guy.

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I'll come in and do it. That is available if

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you're intersted, reach out to our office. We can mentor

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your company and it includes once a month for an

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hour h and also it's available for any time you

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want to call or send we will be there.

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Speaker 2: To assist you that type of thing.

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Speaker 1: But I explain, look, if it costs me one hundred

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and ten dollars just to get out that door, there's

381
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no way my hourly rate can be eighty five dollars

382
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an hour. And you would be surprised how many contractors

383
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I talk to who think this backwards. They go, well,

384
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I'm I'm one hundred dollars an hour, and I go, well,

385
00:23:42,440 --> 00:23:43,799
what does it cost for you to roll up on

386
00:23:43,839 --> 00:23:45,960
that job? What does it cost you to acquire that job.

387
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What is it overhead? What is everything that you need

388
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to just roll up in that vehicle? And then they

389
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start looking at their hourly rate and go, well, shit,

390
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I don't charge enough. I'm like, yeah, you can get

391
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all the damn jobs you want, but you're not going

392
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to make any damn money.

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Speaker 2: Number two the labor costs.

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Speaker 1: And again, as I say, that's the burdens, not just

395
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your hourly So yeah, number one, your truck, your insurance,

396
00:24:12,559 --> 00:24:15,160
your fuel, your overhead, all those things you need to

397
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know pretty simple. Find out what your insurance is, find

398
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out what trucks cost, what your fees are, what your

399
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fuel is, all those overhead and burdens, find out what

400
00:24:23,839 --> 00:24:30,160
those things are. Next, you need to find out what

401
00:24:30,200 --> 00:24:33,039
your taxes are, what your insurances are, what your benefits

402
00:24:33,079 --> 00:24:36,119
that you offer your employees are, what's your downtime. What's

403
00:24:36,160 --> 00:24:39,000
the real cost, not just an hourly rate, what's your

404
00:24:39,079 --> 00:24:45,720
real cost? Now, eventually the cost for rolling up in

405
00:24:45,759 --> 00:24:49,599
your truck, the insurance and fuels and overhead and your

406
00:24:49,680 --> 00:24:53,480
labor costs, which is your burdens, The taxes, insurance means

407
00:24:53,519 --> 00:24:58,240
that will get rolled together. Okay, but you're not even

408
00:24:58,319 --> 00:25:00,920
done yet you you you just need to find out

409
00:25:00,920 --> 00:25:04,480
what it costs to physically get you there again, truck insurance,

410
00:25:04,519 --> 00:25:08,039
fuel overhit that. Next, you need to understand what your

411
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actual labor calls are, taxes, insurance, matching, benefits, burdens, those things.

412
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That's your real cost per manpower. Find out what that is.

413
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For example, if I've got a helper and electrician there,

414
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then I've got account for the helper's hourly rate. I've

415
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got to account for the electricians rate or whatever trade

416
00:25:27,759 --> 00:25:30,279
it is. I have to account for these things, and

417
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I have to understand the taxes, what I'm matching as

418
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a company, I'm not gonna eat that. I need to

419
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understand all these things in business so I have a number.

420
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Speaker 2: To work with.

421
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Speaker 1: All of this is going to be a foundation for

422
00:25:42,039 --> 00:25:47,200
what you're gonna charge your customer. Third, let's not forget

423
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this your minimum profit margin. Hello, you know people, I

424
00:25:54,640 --> 00:25:58,839
tell God, people forget You're not gonna make any money

425
00:25:58,839 --> 00:26:01,480
if you're just covering your labor call in your show

426
00:26:01,559 --> 00:26:04,160
up costs or you get me to the job costs.

427
00:26:04,519 --> 00:26:07,240
If you don't have a minimum profit margin that you're

428
00:26:07,240 --> 00:26:10,240
willing to work with, contracting is a high risk industry, folks.

429
00:26:10,799 --> 00:26:15,880
Profit is not optional. It is required for survival. If

430
00:26:15,880 --> 00:26:18,920
you're not making a profit and you're breaking even, you're

431
00:26:18,960 --> 00:26:20,240
not going to be around long.

432
00:26:20,920 --> 00:26:21,680
Speaker 2: It's just it.

433
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Speaker 1: If you don't know those three numbers, then you're guessing

434
00:26:27,599 --> 00:26:30,079
on your prisis. You're just guessing, and you know what,

435
00:26:31,200 --> 00:26:35,319
guessing is not going to build an empire. I know

436
00:26:35,559 --> 00:26:38,319
quite a few contractors who went on to business for

437
00:26:38,440 --> 00:26:42,160
five and six to seven years hemorrhaging, barely making it,

438
00:26:42,920 --> 00:26:44,480
and you go looking at it, and I sit with

439
00:26:44,519 --> 00:26:46,759
them and I say, well, look, here's an exercise for you.

440
00:26:46,880 --> 00:26:48,160
That's one of the first things I do when I

441
00:26:48,200 --> 00:26:50,599
consult with some contractors. I go, okay, let's do a

442
00:26:50,599 --> 00:26:54,440
little exercise. Let's try to look at you know, depending

443
00:26:54,480 --> 00:26:55,880
on the size of the company, Let's look at what

444
00:26:55,920 --> 00:26:58,880
your overhead costs are, what's your vehicle costs, everything, Just

445
00:26:58,920 --> 00:27:01,480
do it. You should have these records every month. There's

446
00:27:01,519 --> 00:27:04,200
most of this stuff is reoccurring. Pretty easy to come

447
00:27:04,279 --> 00:27:06,680
up with this if you're actually doing your books right.

448
00:27:08,680 --> 00:27:10,799
Look at your staff, look at the benefits, look at

449
00:27:10,799 --> 00:27:14,839
your payroll. Let's look at everything first and see what

450
00:27:14,880 --> 00:27:20,039
your calls are. Then let's come up with what your

451
00:27:20,119 --> 00:27:25,319
profit margin is, okay, and that profit margin needs to

452
00:27:25,319 --> 00:27:27,359
be put on top of whether you're doing ten percent,

453
00:27:27,440 --> 00:27:33,759
fifteen percent, twenty percent, twenty five percent margin, that's something

454
00:27:33,839 --> 00:27:35,160
personal within your company.

455
00:27:35,200 --> 00:27:39,759
Speaker 2: There's no uh, you know, boilerplate for that. Okay.

456
00:27:39,880 --> 00:27:42,559
Speaker 1: In my company, I made sure that I got at

457
00:27:42,640 --> 00:27:46,960
least fifteen to twenty percent profit margin or it wasn't

458
00:27:47,000 --> 00:27:51,359
worth me doing it. And also I had markup on product.

459
00:27:51,759 --> 00:27:55,440
My product would mark up ten percent, product markup. Now

460
00:27:55,440 --> 00:27:58,079
I had a discount for stuff that was considered truck stock,

461
00:27:58,519 --> 00:28:00,559
which maybe was a five percent, and I kept a

462
00:28:00,640 --> 00:28:02,640
ledger of that, and that's how we would do things.

463
00:28:02,640 --> 00:28:05,519
But at the end of the day, you have to

464
00:28:05,519 --> 00:28:06,359
be comfortable with your mind.

465
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Speaker 2: But you need to know these numbers.

466
00:28:08,160 --> 00:28:09,920
Speaker 1: If you're not, if you don't know anything about where

467
00:28:10,000 --> 00:28:12,079
you came up with your hourly rate, then you're just

468
00:28:12,400 --> 00:28:14,839
you just picked the number just out of the blue,

469
00:28:15,559 --> 00:28:19,720
and you hope it's enough, and you hope nothing big

470
00:28:19,759 --> 00:28:21,799
comes up where there's a big expense and ends up

471
00:28:21,839 --> 00:28:23,119
draining everything, and then you're.

472
00:28:23,039 --> 00:28:24,960
Speaker 2: Struggling because it can happen.

473
00:28:25,359 --> 00:28:30,880
Speaker 1: Okay, all right, now, let's talk about this now, how

474
00:28:30,920 --> 00:28:33,759
do you deal with a price objection from a customer.

475
00:28:34,720 --> 00:28:37,559
That's big because again we've talked about how to establish

476
00:28:37,599 --> 00:28:42,640
your pricing, coming in with confidence, not negotiating, being confident

477
00:28:42,680 --> 00:28:45,119
with it. But you are going to run into objections,

478
00:28:45,160 --> 00:28:48,680
and I want to explain a few quick things on

479
00:28:48,720 --> 00:28:51,559
how to ask. And this is stuff that you can

480
00:28:51,640 --> 00:28:53,359
role play with your employees, and I encourage you to

481
00:28:53,440 --> 00:28:58,799
do this. I know some very middle sized contractors electric

482
00:28:58,799 --> 00:29:01,920
contractors that actually have meetings and they do a little

483
00:29:02,000 --> 00:29:05,240
role playing because they want their sales technicians, not their

484
00:29:05,240 --> 00:29:07,359
guys that are out there doing the rough ends. But

485
00:29:07,400 --> 00:29:10,599
they have the service team. They constantly go over these

486
00:29:10,640 --> 00:29:13,559
things with them and how to deal with objection. Okay,

487
00:29:13,640 --> 00:29:18,279
so here's three objections you'll hear. Number one, this is

488
00:29:18,400 --> 00:29:20,279
very common. That's expensive.

489
00:29:20,759 --> 00:29:21,799
Speaker 2: And you know what you reply.

490
00:29:22,440 --> 00:29:25,079
Speaker 1: You say, look, quality and safety matters here, and this

491
00:29:25,200 --> 00:29:30,799
solves the problem correctly. Yeah, you're not excuses, you're not

492
00:29:30,839 --> 00:29:33,799
making excuses. They don't you know they people say expensive

493
00:29:33,839 --> 00:29:36,200
all the time, right, But how the hell do they

494
00:29:36,200 --> 00:29:40,279
know what's expensive? They don't know what the cost of

495
00:29:40,319 --> 00:29:42,920
doing businesses as a contractor. They don't understand what the

496
00:29:42,920 --> 00:29:43,839
cost of that material.

497
00:29:44,000 --> 00:29:44,680
Speaker 2: They have no idea.

498
00:29:44,799 --> 00:29:47,799
Speaker 1: We know that inflation's going, prices go up, things change.

499
00:29:49,319 --> 00:29:51,480
Maybe they had something done fifteen years ago. Well this

500
00:29:51,559 --> 00:29:55,799
ain't fifteen years ago, baby. So quality and safety matters

501
00:29:55,839 --> 00:29:59,839
here on this project, and this solves the problem correctly.

502
00:30:01,279 --> 00:30:03,759
And then you can even go into the scope and

503
00:30:03,920 --> 00:30:08,000
why it solves the probably problem. That's how you deal

504
00:30:08,039 --> 00:30:11,200
with that objection. Hey, here's a good one here, I

505
00:30:11,200 --> 00:30:18,559
can get it cheaper. God, folks, how many of you

506
00:30:18,599 --> 00:30:21,680
have heard that one? Well, I can get it cheaper. Well,

507
00:30:21,839 --> 00:30:23,920
you know what my response to that is. Again, remember

508
00:30:23,960 --> 00:30:25,480
what we said about don't want to be the lowest,

509
00:30:25,480 --> 00:30:26,799
don't want to be the cheapest, and I'm not here

510
00:30:26,799 --> 00:30:30,880
to negotiate. I go Look, I completely understand my price

511
00:30:30,960 --> 00:30:35,839
reflects code compliance, safety and long term reliability. And in

512
00:30:35,880 --> 00:30:38,279
my case, I would say, look, I'm a c a ECP,

513
00:30:38,440 --> 00:30:41,359
a Certified Master Electrical co Professional. I put in a

514
00:30:41,359 --> 00:30:44,160
lot of extra time and that time goes into the

515
00:30:44,240 --> 00:30:47,559
quality of my work. Okay, so I understand that there

516
00:30:47,559 --> 00:30:49,400
may be other people out there that are less than me.

517
00:30:50,079 --> 00:30:51,720
I understand if you feel you have to go in

518
00:30:51,720 --> 00:30:57,119
that direction, But my work reflects my compliance, my safety,

519
00:30:57,200 --> 00:31:00,880
in my long term reliability and follow up that I'm

520
00:31:00,880 --> 00:31:03,720
going to give you on this installation or this service call.

521
00:31:04,440 --> 00:31:07,839
That's about all I can say to that. But you

522
00:31:07,960 --> 00:31:13,079
say it just like that, no excuses. Hey, here's a

523
00:31:13,079 --> 00:31:15,319
good one, here's good. Can you come down just.

524
00:31:15,279 --> 00:31:15,799
Speaker 2: A little bit.

525
00:31:16,519 --> 00:31:19,519
Speaker 1: My reply, my reply to that is, Look, the scope

526
00:31:19,599 --> 00:31:22,920
is the scope, but I can adjust the solution if needed.

527
00:31:23,680 --> 00:31:26,160
Speaker 2: You never discount, only adjust the scope.

528
00:31:26,319 --> 00:31:29,119
Speaker 1: And what do we mean by that, Well, maybe originally

529
00:31:29,160 --> 00:31:31,200
in the scope they wanted a bunch of things done,

530
00:31:32,480 --> 00:31:34,519
and in order to bring the price down, maybe you

531
00:31:34,559 --> 00:31:36,839
remove some of those things. That doesn't mean those things

532
00:31:36,880 --> 00:31:38,920
can't be corrected later or a good reason to do

533
00:31:38,960 --> 00:31:40,799
a follow up, or maybe when they've got a little

534
00:31:40,799 --> 00:31:42,759
more money, they can get those other things done because

535
00:31:42,759 --> 00:31:47,160
they understand they want them done. But maybe you adjust

536
00:31:47,160 --> 00:31:52,160
the scope, but you don't adjust the price. You hear me,

537
00:31:53,359 --> 00:31:59,480
You remain what, you maintain the value, You stay in control,

538
00:32:00,839 --> 00:32:05,359
and you remain the professional the whole time. Do not

539
00:32:05,480 --> 00:32:09,680
have a crack in the armor. Folks, don't do it.

540
00:32:12,000 --> 00:32:12,279
Speaker 2: Now.

541
00:32:12,599 --> 00:32:15,240
Speaker 1: One exception to this, and I will tell you this,

542
00:32:15,559 --> 00:32:18,759
one exception to this rule is that I had a plan.

543
00:32:18,839 --> 00:32:21,640
Remember This goes back to another episode that talks about

544
00:32:21,640 --> 00:32:24,839
having a system in place. When a customer would say

545
00:32:24,920 --> 00:32:28,319
something like, can you come down a little, I would

546
00:32:28,400 --> 00:32:31,160
not discount it directly because of their response.

547
00:32:31,759 --> 00:32:35,960
Speaker 2: I want something in return, folks. So I had a program.

548
00:32:36,000 --> 00:32:38,160
Speaker 1: I had a process that I would say, Okay, look,

549
00:32:38,880 --> 00:32:41,240
we do have a ten percent or a five percent

550
00:32:41,319 --> 00:32:45,000
discount program in place for Google reviews.

551
00:32:45,079 --> 00:32:45,720
Speaker 2: You give us a.

552
00:32:45,680 --> 00:32:48,240
Speaker 1: Five star review, Hey, ain't no shame in my game.

553
00:32:48,640 --> 00:32:50,319
That's what the hell I want. I want a five

554
00:32:50,400 --> 00:32:53,279
freaking star review, buddy, I ain't too humble.

555
00:32:53,680 --> 00:32:54,279
Speaker 2: I want it.

556
00:32:57,039 --> 00:32:59,119
Speaker 1: And y'all heard me talk about the importance of getting

557
00:32:59,119 --> 00:33:01,920
those reviews. So on my hat, I have those little

558
00:33:01,960 --> 00:33:03,920
QR codes. Back in the day, it was on a

559
00:33:03,920 --> 00:33:05,440
business card where they would scan it.

560
00:33:05,960 --> 00:33:07,519
Speaker 2: I have a QR code. I have it on my hat.

561
00:33:07,559 --> 00:33:09,839
I say you scan this in, we put this on

562
00:33:09,880 --> 00:33:10,359
your phone.

563
00:33:10,759 --> 00:33:12,720
Speaker 1: You go in, you give me a five star review,

564
00:33:13,160 --> 00:33:16,119
and I am authorized to give you a five percent discount.

565
00:33:16,880 --> 00:33:19,039
You're still going to get the same level of quality,

566
00:33:19,119 --> 00:33:23,799
the high quality of me in my workmanship. But because

567
00:33:23,839 --> 00:33:26,559
of this, you helping me out, I can help you out.

568
00:33:27,319 --> 00:33:31,920
It's a win win for everybody, and trust me that

569
00:33:32,039 --> 00:33:34,880
review matters. You can think it don't matter. But if

570
00:33:34,920 --> 00:33:37,200
you're a local business and you're doing local servicing and

571
00:33:37,240 --> 00:33:40,640
you're not big into the social SEO or local SEO

572
00:33:41,480 --> 00:33:45,119
and Google and bing and Yelp, and if you haven't

573
00:33:45,200 --> 00:33:49,839
leveraged that properly, you're never ever ever going to get

574
00:33:49,880 --> 00:33:53,480
the local market like you could. I have an episode

575
00:33:53,519 --> 00:33:55,759
on that. I encourage you to go listen, search for it,

576
00:33:55,920 --> 00:33:58,440
because I'm telling you what it is a gold mine

577
00:33:59,000 --> 00:34:03,279
for findability locally. I'm just saying, dude, I didn't just

578
00:34:03,319 --> 00:34:04,480
start this shit yesterday.

579
00:34:04,519 --> 00:34:06,759
Speaker 2: Folks. You can say what you want about me.

580
00:34:06,880 --> 00:34:09,519
Speaker 1: You can go read about me on social platforms and say, well,

581
00:34:09,519 --> 00:34:12,480
he never did it. How the hell could I talk

582
00:34:12,519 --> 00:34:16,960
about electrical installations, give advice, tell you about certain types

583
00:34:17,000 --> 00:34:20,440
of equipment, give you sales advice, give you marketing advice,

584
00:34:20,559 --> 00:34:23,559
give you tax advice, ownership if by all these kinds

585
00:34:23,559 --> 00:34:25,920
of things that I give you on podcasts over a

586
00:34:25,960 --> 00:34:28,960
thousand plus episodes, if I didn't walk the walk and

587
00:34:29,000 --> 00:34:32,960
talk the talk, you can listen to some pinhead Whack

588
00:34:33,039 --> 00:34:35,559
Jackerson or some damn siporter has all he's done is

589
00:34:35,599 --> 00:34:37,360
home inspections. You can listen to them and think that

590
00:34:37,360 --> 00:34:41,920
they're the pro. They are not the pro. I'll teach

591
00:34:42,000 --> 00:34:43,920
any homesspector to go to a building and call out

592
00:34:44,000 --> 00:34:48,360
deformities that they can't fix. You're the pro, you're the professional.

593
00:34:49,039 --> 00:34:51,920
You're not on the same level. You're above them. Okay,

594
00:34:52,079 --> 00:34:59,000
let's just make it clear. Okay, Look, that's the only

595
00:34:59,039 --> 00:35:01,000
time I would give them kind of discount, but I

596
00:35:01,000 --> 00:35:03,400
want something in return. This is a win win for

597
00:35:03,440 --> 00:35:06,440
both of us. It's very easy to implement that. You

598
00:35:06,440 --> 00:35:08,440
can get these little QR codes for your caps on

599
00:35:08,440 --> 00:35:11,519
our website fastracksystem dot com. We'll put the QR code

600
00:35:11,559 --> 00:35:14,480
on there to your link tree or website or wherever

601
00:35:14,480 --> 00:35:16,199
you want. I encourage you to do a link tree

602
00:35:16,239 --> 00:35:19,559
because you can also share other contractors that are in

603
00:35:19,639 --> 00:35:21,880
your trusted network. And then they put this on their

604
00:35:21,920 --> 00:35:24,639
phone and save it on their phone when you're getting

605
00:35:24,679 --> 00:35:29,400
that review right, and then you tell them, hey, you

606
00:35:29,440 --> 00:35:32,320
trust me. I trust these people because I know they

607
00:35:32,360 --> 00:35:35,400
do good work. I know they're very reliable. They're right

608
00:35:35,440 --> 00:35:38,760
there on your phone. You need a plumber, mechanical, builder, inspector,

609
00:35:39,000 --> 00:35:43,119
they're right here. You start earning their trust when.

610
00:35:43,000 --> 00:35:43,880
Speaker 2: They need you again.

611
00:35:44,159 --> 00:35:45,679
Speaker 1: All they got to do is go back to that

612
00:35:45,800 --> 00:35:47,519
app on your phone or that little thing on their

613
00:35:47,559 --> 00:35:51,000
phone and tap it and you're ready to be there. Folks,

614
00:35:51,159 --> 00:35:54,880
there's a mentality of doing this properly, and I can

615
00:35:54,920 --> 00:35:55,679
train you for it.

616
00:35:56,480 --> 00:35:56,760
Speaker 2: Now.

617
00:35:57,360 --> 00:36:01,199
Speaker 1: What happens when you charge? What's your working earth, What's

618
00:36:01,199 --> 00:36:05,639
gonna start happening to you? When customers raise, when contractors

619
00:36:05,679 --> 00:36:11,360
start raising their prices, everything changes. You get a better

620
00:36:11,519 --> 00:36:14,559
quality customer, you get fewer problems.

621
00:36:15,599 --> 00:36:17,679
Speaker 2: Clearly, you're gonna get more profit per hour.

622
00:36:18,400 --> 00:36:21,440
Speaker 1: You're gonna gain more time for your family, less follow ups,

623
00:36:21,559 --> 00:36:28,079
less problem calls, more predictable income, less burnout, greater confidence,

624
00:36:28,079 --> 00:36:30,679
and how you carry yourself and how you market yourself

625
00:36:30,719 --> 00:36:35,519
to the customer and to everybody around you, better long

626
00:36:35,639 --> 00:36:39,920
term business success and viability because you're setting the mark.

627
00:36:39,960 --> 00:36:40,880
You're setting the tone.

628
00:36:40,960 --> 00:36:41,320
Speaker 2: Folks.

629
00:36:41,639 --> 00:36:44,280
Speaker 1: If you add to your knowledge, never stop learning. Become

630
00:36:44,280 --> 00:36:48,199
a CMBCP, become a certified thermal electrician. Add these services,

631
00:36:48,400 --> 00:36:53,119
enhance yourself, add other things to your business. Generators poor

632
00:36:53,119 --> 00:36:57,360
Man's generators where it's just a generator. Inlet all these

633
00:36:57,400 --> 00:37:00,800
types of services set you above the competition. If you're

634
00:37:00,800 --> 00:37:02,280
not willing to work at it, you're not going to

635
00:37:02,360 --> 00:37:07,000
get it. Remember, contractors don't get wealthy by working harder.

636
00:37:07,360 --> 00:37:16,480
They get wealthy by pricing correctly. Look, if you've been undercharging,

637
00:37:16,559 --> 00:37:22,000
today is your turning point, Not next month, not next year.

638
00:37:22,519 --> 00:37:25,000
It's the day of course. This is perfect timing. We're

639
00:37:25,079 --> 00:37:26,960
right here in December. We're at the end of the year.

640
00:37:28,199 --> 00:37:32,800
You have a action item for January twenty twenty six.

641
00:37:35,119 --> 00:37:42,079
Put your pricing in perspective. Understand what you're worth. Carry

642
00:37:42,119 --> 00:37:48,400
your head up high, no negotiation. You can do it

643
00:37:49,280 --> 00:37:53,239
because your skills, your experience, your knowledge, your anc knowledge.

644
00:37:54,079 --> 00:37:58,400
You're enhanced training, your ability to diagnose things quicker because

645
00:37:58,400 --> 00:38:01,199
you have that extra training. All these are tremendous value

646
00:38:01,199 --> 00:38:04,760
that have a cost to you.

647
00:38:04,800 --> 00:38:10,000
Speaker 2: They should be paying for this. Stop discounting that value. Folks.

648
00:38:10,000 --> 00:38:12,519
Speaker 1: If you enjoyed this episode, please share it with somebody.

649
00:38:12,599 --> 00:38:14,719
Share it with somebody else in the trade. Share it

650
00:38:14,760 --> 00:38:18,440
on social media, Tell people about it, Tell them know

651
00:38:18,440 --> 00:38:19,760
where you heard it. Tell them they can go on

652
00:38:19,800 --> 00:38:22,960
any search engine and search for master the NEC podcast.

653
00:38:23,000 --> 00:38:26,199
It's not just about electrical These are things that plumber,

654
00:38:26,239 --> 00:38:27,199
mechanical builder.

655
00:38:27,360 --> 00:38:29,960
Speaker 2: All these people can gain something from this.

656
00:38:30,679 --> 00:38:32,679
Speaker 1: If you want to learn more about the National Electrical Code,

657
00:38:32,840 --> 00:38:36,039
want to become that go to person, then go to

658
00:38:36,119 --> 00:38:42,719
fasttrackssystem dot com. That's TRX folks. Fast tracks trxsystem dot com.

659
00:38:42,960 --> 00:38:46,440
We have post licensing and we have pre licensing whereas

660
00:38:46,440 --> 00:38:49,000
you can learn to pass an exam or once you

661
00:38:49,039 --> 00:38:51,199
get licensed, you can have an expert in your pocket.

662
00:38:52,159 --> 00:38:55,079
If you want to add thermography to your business profile.

663
00:38:55,119 --> 00:38:57,199
And let me tell you, folks, it is a game

664
00:38:57,639 --> 00:38:59,519
changer if you know how to do it properly and

665
00:38:59,559 --> 00:39:01,559
that piece, that's a mind that you give that customer

666
00:39:02,800 --> 00:39:05,760
game changer. You may say, well, I don't think it is.

667
00:39:05,800 --> 00:39:08,199
All I'm doing is scanning stuff. Then you have no

668
00:39:08,360 --> 00:39:12,440
clue and you probably never use thermography and understand even

669
00:39:12,480 --> 00:39:16,039
how to read a thermographic image. You don't get it.

670
00:39:16,760 --> 00:39:21,559
Go to thermal Electrician dot com and you can get it.

671
00:39:21,599 --> 00:39:21,960
Speaker 2: Folks.

672
00:39:22,559 --> 00:39:24,400
Speaker 1: Maybe it's just as simple as you want to understand

673
00:39:24,440 --> 00:39:27,679
the code quicker. Then maybe you even subscribe to what

674
00:39:27,719 --> 00:39:30,559
we call trade hog dot net. Trade hog it's a

675
00:39:30,559 --> 00:39:34,639
code expert AI tool in your pocket. Just go to

676
00:39:34,719 --> 00:39:38,039
tradehog dot net. We have so many ways to make

677
00:39:38,079 --> 00:39:40,599
your job and your life so much easier. Help your

678
00:39:40,639 --> 00:39:43,000
business grow, folks, this isn't snake ol. I've been doing

679
00:39:43,039 --> 00:39:47,920
this for a damn near forty years. I've helped contractors scale.

680
00:39:48,079 --> 00:39:51,559
I can do it for you too. Okay, all right, folks,

681
00:39:52,000 --> 00:39:54,599
hope you got something out of this episode. Again, share it.

682
00:39:54,760 --> 00:39:57,199
We appreciate you till next time. Stay safe, God bless

683
00:39:57,840 --> 00:39:59,760
and happy holidays for all of you that hear this

684
00:40:00,039 --> 00:40:03,079
here where we are at December. Make sure your family's safe,

685
00:40:03,159 --> 00:40:06,679
and make sure your business prospers. In twenty twenty six,

686
00:40:06,840 --> 00:40:08,159
let's go take care.

687
00:40:08,840 --> 00:40:12,159
Speaker 3: Thanks for tuning into another electrifying episode of the Master

688
00:40:12,239 --> 00:40:13,599
of the NEC podcast.

689
00:40:14,800 --> 00:40:17,719
Speaker 4: We hope you're feeling more powered up and ready to tackle.

690
00:40:17,440 --> 00:40:20,079
Speaker 3: The electrical world with the knowledge and confidence you need

691
00:40:20,119 --> 00:40:20,719
to succeed.

692
00:40:21,920 --> 00:40:25,559
Speaker 4: Remember, in the electrical trade, knowledge is power.

693
00:40:25,519 --> 00:40:27,719
Speaker 3: And we're here to make sure you stay plugged into

694
00:40:27,760 --> 00:40:32,559
the latest insights, tips and code updates. If you enjoy

695
00:40:32,639 --> 00:40:36,320
today's episode, don't forget to subscribe, leave us a review,

696
00:40:36,639 --> 00:40:38,280
and share the podcast with your.

697
00:40:38,159 --> 00:40:40,320
Speaker 4: Fellow electricians and industry pros.

698
00:40:41,599 --> 00:40:45,440
Speaker 3: Until next time, keep your tools sharp, your circuits clear,

699
00:40:45,719 --> 00:40:48,320
and you're my focus because here at the Master of

700
00:40:48,320 --> 00:40:49,559
the NEC podcast.

701
00:40:49,880 --> 00:40:52,000
Speaker 4: We're all about sparking your success.

702
00:40:53,159 --> 00:40:58,119
Speaker 3: Stay safe, stay smarked, and keep mastering the trade. From

703
00:40:58,119 --> 00:41:00,800
all of us here at Electrical Code Academy. Thank you

704
00:41:00,840 --> 00:41:02,719
for all your support and we will see you on

705
00:41:02,760 --> 00:41:11,800
the next amazing Master the NEEC Podcast Episode