Mike AndesFounder, Augusta Lawn Care and Homeworks · Founder of Homeworks and Augusta Lawn Care

THE 1 FIX for your financial issues!

15 Oct 2023 · 0 min

Watch on YouTube

0:29

Mike Andes delivers a short advisory monologue arguing that the primary fix for a business's financial problems is to raise prices and institute regular contract increases. He warns that failing to raise prices lets rising labor costs (example: field pay rising from ~$14–15 in 2018 to $20–$25) eat margins, and recommends standard annual increases (he cites a 5% standard increase) so businesses can better serve employees and the community.

Not having money in a business is like running out of oxygen. If you're not concerned about raising price, you should do it immediately because it is the fix for the financial problems of the business. Like, what was your base pay for guys out in the field in 2018? It's hard to even think that far back. Probably 14 was good. Yeah, 15 was like a guy that's. Now you got 20 and 25 and you haven't raised your prices. That's where all the money is going. And there should be standard increases to contracts every year. They just know they're getting a standard increase of 5%. You serve your employees better and you'll serve the community better.