21st Century Entrepreneurship
Weston Zimmerman: Are You Charging the Right Price for Your Work?
14 Sep 2024
Weston Zimmerman is a seasoned contractor turned tech entrepreneur, and we spoke about one of the most common dilemmas in the contracting world: How do you know if you're charging the right price for your work? From his humble beginnings as a landscaper to becoming the CEO of SynkedUp, Weston has lived through the struggles of pricing projects and ensuring profitability, and he's here to share how he and his team solved these problems.In this episode, we discussed how many contractors fall into the trap of pricing based on gut instinct rather than solid data. As Weston puts it, “You look to your left and your right, see what others are charging, and base your price on your own self-worth, which is almost always too low.” He emphasizes the importance of moving away from emotional pricing and adopting a repeatable system based on real numbers and overhead recovery.A key takeaway is the transformative power of using systems and processes in your business. Weston shares his journey from using pen and paper and spreadsheets to building a tech solution that revolutionized how his company operated. “What was a three-hour task turned into a ten-minute task,” Weston recalls, demonstrating how much time and money can be saved when a proper system is in place. This episode will help you rethink how you approach pricing and business efficiency.Zimmerman also explains how SynkedUp evolved from an internal tool for a small landscaping company to a widely adopted solution across North America. The episode covers the lessons learned in building systems that eliminate human error, streamline workflows, and ultimately ensure profitability. “Systems and processes are the keys out of the entrepreneurial prison,” Zimmerman says, offering a path for contractors to focus on their craft without getting bogged down in the administrative grind.If you're in the trades or contracting industry, or if you're simply trying to build a scalable business, you’ll learn how to charge what you're worth, avoid common pricing pitfalls, and build a sustainable, thriving operation. This conversation is packed with actionable insights, real-world stories, and the hard-earned wisdom that Weston brings from his journey.Key Takeaways:Emotional vs. Mathematical Pricing: Avoid making pricing decisions based on emotion or comparison—use data and proper cost analysis instead.The Importance of Systems: Implementing repeatable systems and processes can dramatically reduce time spent on administrative tasks and increase profitability.Overhead Recovery: A business isn't just about covering direct costs—indirect overhead needs to be factored into pricing, or you'll end up wondering, "Where did the money go?"Find out how you can start pricing profitably and gain the freedom to focus on what you love.
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