Hi, this is Lou Brown. I’m back with another of my 101 cash flow accelerators to help you build your business, grow your business and support you long term in the success of your business. One of the things I’ve learned over the years in this section, we’ve been covering renovations. You better make sure you know the number of hours that they are going to devote to your business. And so therefore in our contract we actually state the number of hours that they’re going to devote. One of the things when you are first determining whether you’re getting a good deal or the right price from the contractor, I always ask them, well, how long do you think that will take? And then as we’re going through the contract, you know, how many hours would that be and how many hours would that be and how many hours would that be? And then I’ll do my own calculations on the number of hours I expect it to take.
And I’ll do my own calculations on the amount of dollars per hour. I would expect to pay for that. Then you can get a better clarity about the amount that you’re paying for the contractor and for the contract. Because let’s face it, if you’ve not been in the renovation business, if you don’t know how to value a contract, you really don’t have many parameters to work from. But if you know the number of hours they’re going to spend on something, at least you can have some bookends to work with the amount that you would normally pay for that project and how long it’s gonna take. Multiply that out, and then look at that compared to the amount of big ones. And that project. Well hopefully that’s been helpful to you. Like it. Love it, share it, and I’ll see you soon. Yeah, baby.
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