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How to Know if You Are Marking Up Your Bids Properly
Manage episode 432760767 series 3314227
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Are you bidding your construction jobs correctly? Learn the crucial difference between margin and markup to boost your profits. We'll show you how to reverse engineer your bids for success and maximize your cash flow. Watch now and transform your bidding strategy!
What we cover on this episode:
- 01:21 - Reverse engineering profit margins
- 03:23 - Understanding break-even point
- 05:45 - Markup vs. margin explained
- 08:55 - Defining job costs
- 12:20 - Importance of cash-based profit
- 15:36 - Introducing Profit First website
- 18:58 - Conclusion and feedback request
LINKS
Visit the episode page at https://CarpenterCPAs.com/margin for more details and a transcript of the show.
Get the free breakeven calculator: https://ProfitFirstConstruction.com/breakeven
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Join the Profit First for Construction community!
Find all episodes and related links at ContractorSuccessForum.com.
Join the conversation on our LinkedIn page: https://www.linkedin.com/company/CarpenterCPAs
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Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com
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