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Fixed Bids Burned Me — T&M Turned It Around

📅 September 18, 2025 ⏱️ 33:44 🎤 Tyler

Chapters

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  • 0:00
    Introduction & Purpose
    The host returns to recording after a break and explains his intention to answer common questions about his business and life balance.
  • 1:52
    Daily Routine & Family Time
    He details his morning routine, emphasizing time spent with his children and how he structures his workday around family.
  • 8:37
    Switching to T&M
    The host recounts a major mistake with fixed bids that caused financial losses and led him to adopt a fully transparent time and materials (T&M) billing model.
  • 15:17
    Choosing Projects Wisely
    He explains his criteria for selecting projects and clients, moving beyond ego-driven choices to focus on profitability and client trust.
  • 23:27
    Unforeseen Challenges in Trades
    The host discusses the unexpected difficulties and time consumption inherent in trades work, often leading to underestimation and frustration.
  • 33:10
    Motivation & Repetitive Work
    He shares what motivates him through stressful or repetitive tasks, highlighting pride, integrity, and finding efficiencies in monotonous work.
  • 37:33
    Generational Value Differences
    The host contrasts the values of younger generations entering the trades, particularly regarding pay, lifestyle, and work-life balance, with the industry's current capacity.
  • 46:31
    Impact of Fatherhood
    He reflects on how becoming a father has fundamentally changed his perspective on work, client relationships, and prioritizing family time over endless work hours.

Speakers

T
Tyler
Host

Key Takeaways

✦

Adopt a fully transparent Time and Materials (T&M) billing model to accurately track costs and ensure profitability, especially when labor costs fluctuate unexpectedly.

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Prioritize client trust and project fit over ego-driven projects; vet clients thoroughly to ensure alignment with your business model and profitability goals.

✦

Understand your true costs and set appropriate margins (e.g., 40% for low-volume businesses) to avoid financial losses, even on seemingly prestigious projects.

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Build 'unforeseen' time and cost into every project, as unexpected issues are inevitable; be prepared to charge for these realities.

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Develop systems and efficiencies for repetitive tasks to maintain motivation and productivity, turning monotony into an opportunity for improvement.

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Re-evaluate work-life balance regularly; spending quality time with family can be more valuable than additional work hours, and it leads to smarter work habits.

✦

Base your service model on how you'd want to be treated as a client, especially in live-in remodels, emphasizing trust, communication, and minimizing disruption.

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