9 mins 49 seconds will DOUBLE your service business profits!

All right, so I have a question for you. When it comes to running your small business, do you run it like you're driving a tricycle? Pedal, pedal, pedal, pedal. All we are doing is working, working, working, working. Or like you're flying a fighter jet.

That's what we're talking about today. And we're going to be discussing the fact that in your business, it requires if you're going to grow fast, if you're going to grow big, if you're going to do big things, you're going to make lots of profit, if you're going to make more profit than the average in your industry or above your competition, you are going to have to do things that are different than the person, the tricycle, because guess what? The tricycle still gets you from point A to point B. But it's going to take a whole lot more effort. You're going to be pedaling and pedaling and pedaling your feet. You're like breaking a sweat and huffing and puffing and you're going to be going like two or three miles an hour versus just a thumb being moved on. A joystick in a fighter jet can put thousands of pounds of force and massive amounts of energy and go hundreds of miles per hour with much less effort. Now, driving a fighter jet, it's very important to realize there's more risk involved. If you're going to want to grow your business fast, if you're going to have a massive impact, if you're going to have outsized returns, if you're going to have massive amounts of profitability and a business that generates massive amounts of profits in above that of your competition, you're going to have to have more risk. So driving a fighter jet, if, like, if worse comes to worse, if you crash a fighter jet, guess what, you're going to die. And you're probably going to cause a lot of damage to other people, you're going to cause damage to surroundings, a fire, probably going to happen. Millions and billions of dollars are going to be lost because you crashed a fighter jet. Now, the same thing goes for your business. And if you're just going to keep your business small, the tricycle, and you fall off the tricycle and you're going as fast as you can. You're going and you fall off. Guess what? You're probably going to get like a scrape on your leg and that's it. You're probably literally going to be able to get right back on and go again. Because it's small, it's not a big deal, it doesn't hurt anybody else. But if your business is larger and you get into a crash, you're going to affect employees, their jobs, their family. You're probably going to go into bankruptcy, you're probably going to have massive amounts of debt and loans that you now cannot pay if you actually take the business down. So there's more risk when it comes to the fact that you want to drive, you want to ride in, you want to be transported by a fighter jet in comparison to a tricycle. So everyone wants to drive and ride in a fighter jet, but they don't want to take the risk and they don't want to take the necessary amount of training required in order to make sure that the flight doesn't crash. Because otherwise we'd all just be on tricycles and we just run our little small business and we do good and we'd be working hard all the time, but we wouldn't get very far. We wouldn't make a meaningful impact in our community. We wouldn't be able to hire lots of people, we won't be able to have outside returns or massive amounts of profits in comparison to our competition. We just live a ho hum, come see, come suck kind of average type of business. And for most of us as entrepreneurs, if you're watching this type of video, you want to improve, you're probably not super enthused or wanting to get a bed for a business that does halfway decent returns of 5 or 10%, a net profit, and you work 80 hours a week and you barely make more than if you would just flipping burgers at McDonald's like, you're probably not super inspired by doing that. And for most of us, we'd rather be in the fighter jet. We'd rather get places faster, create outsized returns, and we are willing to sign up for the fact that we're going to have more risk. But how do you have a business that grows fast, create great profits, generates a lot of meaningful impact in the community, changes the industry, and really outperforms the guy on the tricycle without crashing the fighter jet. That really comes down to the fact that when it comes to being a fighter jet pilot, it's going to take years of training. Just about everyone watching this could right now hop on a tricycle, jump on it and start making progress, moving down the road. And not to say that you should not get started in a small business, I'm not saying that by no means, but what I'm saying is that if you want to have the ambition of driving In a fighter jet, it's going to take a lot of training, take a lot of discipline. It's gonna take a lot of learning and educating yourself to get to the place. When you get in that cockpit, you don't drive the thing into the side of a mountain someplace and crash the thing and create a massive catastrophe. And that's what usually will happen if someone doesn't have the experience, the know how or just given a lot of money is they're literally given a fighter jet and like, go start your business. It's. It's gonna be cataclysmic. And so when you want to grow a business that extent a fighter jet, when you get inside of a fighter jet, just think about all the dashboards and the panels and the instruments and the metrics and the gauges and the buttons and everything. That is all the information is being conveyed to the pilot. Now, if you look at the comparison to a tricycle, there is no gauges, there is no metrics. It's very, very simple. It's like, hey, this is a red bike, let's go. Pedal, pedal, pedal, pedal. All we are doing is working, working, working, working in our business. And we don't actually have gauges. We don't understand the dashboards. We don't understand the profitability or the metrics or how efficient our business really is because there are no metrics. There are no gauges on a tricycle. We don't know how fast we're going. We don't know the miles per hour. We don't know any of that information yet. You get into a fighter order to have a successful flight and a successful mission, they introduce millions of dollars and massive amounts of training on what dashboards. They make sure that they have the metrics of what's happening on that flight down to a science. And this is why I have created P4P software dot com. It is the gauges, the metrics, the dials, the information you need to run the fighter jet and be profitable and know what the numbers are. Because guess what? If you don't know your altitude and you're flying a fighter jet, you're going to crash. If you don't know your spe, you're going to crash. If you don't know your fuel levels, you're going to crash. And when it comes to your small business, especially home improvement and contractors, you got to know the efficiency of your labor. You've got to know how compared to budget hours. What are we actually doing in terms of hours? At the last conference, we Had Landscape Summit. We had a speaker, Marcus Vandervleet, and he was. He's built $10 million businesses in landscaping and massive construction jobs. And he asked this one specific question. He said, raise your hand here if you calculate the actual hours on a job comp to the ones that you budgeted or estimated it would take. And literally less than 2% of the people in that room raised their hand. And what is that? That is literally like driving a fighter jet. A massive business. Big companies that were there in that. In that hall that day and literally were not having the instruments and the data and the information and the gauges required to fly the jet. It was literally like being like, oh, yeah, I know how to drive a tricycle. I'm going to hop in this massive jet. You need to have the data, you need to have the dashboards. And that's why on P4P software.com we have a way to track budget hours versus actual hours on projects. We have a way to track the overtime that's accruing on your jobs. So you know when you need to hire somebody. This is why we are tracking the efficiency on a weekly and monthly basis for every single employee. So you objectively know who's your best employees, who's your most productive. And by the way, they're getting paid based upon that efficiency. They're getting paid based upon the profitability of the business and how much money and revenue they're bringing, not just how much time they clocked on the job. And when it comes to a fighter jet, it's actually not usually just one person flying the jet. There's multiple people in different parts of the plane that are required for that mission to be brought out successfully. And the same thing goes for your business. Not only you as the owner, can have all the information and the metrics and the data and know the efficiency and know the profitability of the business. You've got to have other members on the team understand that information. And that information needs to be accessible. Literally inside of these pilots and these cockpits they now have, these helmets are worth hundreds of thousands of dollars that actually give all this metrics and information as an interlay in terms of glass that they would look through and they're able to look outside the cockpit. They also see all the graphs and the metrics on this panel display inside their goggles. What is this for? This is to be able to see the metrics and be very visible throughout their day. And so at P4P Software, your employees literally clock in and they see Their efficiency scores, they see their dashboard and what we're building right now over the next couple months is a way for them to actually see the trends over time. They're able to see as they become more efficient and they're able to get metrics and data when they don't do as well, when they have callbacks, they're able to see how that actually impacts their performance. The same way that if you're flying a fighter jet, you're going to want to see what the performance is like. It's different at 50,000ft versus 10,000ft. These are all things that can be measured, engaged, and if you don't have the data, you're going to crash the plane. And so when I talk to business owners that are starting to grow and scale their company, I get very worried. When they're not tracking their profitability, when they're not tracking their close ratio, what percentage of your estimates are being won. When you're not tracking these key metrics, you literally are flying blind. And that's fine when you're driving a tricycle, when you're just pedaling and pedaling and going away, because the worst case scenario is that you might fall into a ditch and you might scrape your knee and you might make a little ding on your little red tricycle, that might be the extent of the damage that's created. But when you're flying a fighter jet, when you're flying a sophisticated business that has a high amount of risk and it's growing and it's going fast, you are putting the lives of your employees, their families and the business in jeopardy. And you're going to cause damage. You, your family, your lifestyle, your mental health and your physical health is going to be impacted if that plane ever crashes. So I highly recommend start investing in the dashboards, start investing in training and implementing P4P pay for performance is not easy. But nor is getting a pilot's license, nor is years of training to make sure that you're in the Air Force and you understand all these metrics and the data and then make decisions and they're actually in the best interest of your business. I highly recommend you check out p4psoftware.com training for free training and information on making these dashboards and these metrics in your business. Something that's accessible with scoreboards for your team, for everyone to be on the same page and carry the mission out successfully. If you want more information about this, check this video out here, where you go for an entire hour and a half about exactly how to implement P4P and how I changed my business using pay for performance instead of paying my employees by the hour.