EP #2 – Pricing Your Heating Business & Finding Your Ideal Customer

Overview

Join us in the second episode with Wayne Bettess from Off The Tools™  where we discuss pricing strategies for your business and all about your ideal customer.

Wayne has worked with countless heating & plumbing business owners over the years as a coach. He’s packed full of knowledge about pricing – not just about the number you land on, but how to get there, what it means, and the thinking behind it.

Listen to the episode:

Highlights

Pricing strategy & working out where you should be

• You need to have a clear strategy on your pricing, not just following those around you (1:00)
• Wayne’s pricing exercise in his coaching programme to calculate your survival rate, reality rate, and desire rate (1:12)
• Having a proper strategy behind your pricing gives you confidence to sell to customers (4:55)
• Factoring in inflation, businesses should now be charging over £180 per hour (6:30)
• Everything else goes up with inflation, but tradespeople don’t (7:30)
• Raise your prices as inflation data comes out, every single year (8:40)
• You get 5 billable hours a day, not 8 – which is something often forgotten – justifying your hourly rate (13:20)
• The two commodities in life – money and time – and there needs to be a balance (16:42)
• Get yourself into a position where you can enjoy work and be happy (20:08)

What do you want from your business?

• Some people enjoy being on the tools, some want to get off the tools (23:10)
• People want the freedom of choice (24:48)

Figuring out your ideal customer

• Who is your ideal customer, and who do you want to work for? (27:27)
• An easy way to figure out who you want to work for (29:05)
• Finding more of these ideal cusotmers (31:10)
• Get processes worked out and someone on the phones before you advertise (34:30)