Shawn McCadden is “sick and tired” of BS answers to contractor questions on how they can raise their markup. McCadden says that the most common mistake that contractors make when asking this question is that they have no idea what markup they actually need to use. In fact, McCadden argues that “they are ignorant to how profits are built into their pricing and how to determine what markup actually need to use.”

To sift through the misinformation, McCaden gives readers a quick no-BS plan to increase their markup profit:

  1. Recognize you have no clue what to charge
  2. Learn how the financial game works
  3. Do the work and due diligence required to calculate the markup you need to use to be profitable
  4. Accurately estimate your direct costs to build projects and then use the markup you calculated
  5. Tell prospects your price and stick to it with confidence
  6. If you don’t know how to sell, other than dropping your price, get real sales training
  7. Find a new market to work in if the one you’re working in won’t pay what it takes for you to run your business
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