Eventually, most contractors come to the somewhat intimidating conclusion that if they want to create a sustainable and profitable business, they need to price their work high enough to cover production and overhead costs as well as to contribute to profit. This realization is frequently accompanied by feelings of panic and dread. After all, isn’t there a risk that all your work will dry up if your prices are too high?

The solution, of course, is to perfect your marketing (or to start marketing, if you currently rely mostly on word of mouth) and to get some sales training. The chicken-and-egg situation then becomes one of trying to pay for sales training and marketing costs when you’re barely making enough to cover production and put a few dollars in your...

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