I asked Pops about how to Bid my 1st Job, The 3 Factors - Quality, Time, and Cost #electrician

Hey, Dad. That was a great meeting we had earlier. I just got a couple questions on pricing electrical jobs. Can you help me out? >> Well, we talked about the three qualities that every customer needs to have and they can only pick two out of those three qualities, right? So, let's go over them. And this is business school 101. And this would work for any type of trade. The first one is what type of customer do you have? Do you have a customer that wants and demands quality? I'm going to put it right here. Okay. >> Mhm. This is category number one. Does your customer have time? This is category number two. Is this a job that has to be done tomorrow or is this a job that can be done at a later time? And then the last one is cost. What type of cost is your customer looking at? Is he looking at doing, you know, low paid work? Does he want to pay uh, you know, the very bare bones price? So these are the three. So, anytime I get anytime I get a new customer, the first thing I'll do is when I go to the facility is I'll look to see about the quality. You guys know that you know when you show up to a place and you can see the quality, everything's labeled, everything's done properly, right? And then we talk about time. So, if he's giving you a project or he wants you to bid on a project, is this something that could be done right now or is this something could be done later on when maybe when we're slow that we could fit him in? So, let's give an example. Okay, this guy's got an emergency. He needs his whole service replaced and it has to be done tomorrow. Well, guess what? He doesn't have time. So, he's going to be paying and he's going to get the quality because that's what we do. And that's what will make you better than your competitor. Is this quality? Are you that good? Are you able to do jobs fast with great quality? Well, then you can expect money. Now, let's say he's got a lot of time. He's got a lot of time and he wants quality. Okay. Well, he's going to get a lower price, right? But now he has to wait for us. He has to wait for our schedule. We're going to give him a lower price, but we're going to fit him into our schedule. And if he doesn't want quality, we don't want anything to do with this type of customer. Okay? This is the type of customer that you guys probably work with if you're working for less than $100 an hour. Right? These are the guys that want cheap price and they want it done right now, but they don't even care about quality or they say they do, but it's impossible, impossible to have a customer and get all three. That can't happen. They can only pick two. And this is business 101. And this is exactly the type of stuff that we as tradesmen are not taught. Okay? We're great at what we do, but we're not great at recognizing our different customers. And how do we get the best price, the best quality, and the fastest time? Work on that. See you later.