Know Your Numbers or Stay Stuck
Modern Craftsman
Modern Craftsman
4.8 • 1.2K Ratings
🗓️ 30 April 2026
⏱️ 37 minutes
🧾️ Download transcript
Summary
Too many builders are working harder every year without really knowing which jobs are making money and which ones are just eating time. This episode is about using your tax return and a few basic numbers to get clear on what's working, what's not, and where to tighten things up.
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Show Notes:
0:24 Know Your Numbers
5:30 What Work Costs
10:14 Start With Taxes
16:37 Which Jobs Pay
25:56 Spend Less First
33:00 Build From There
Video Version:
https://youtu.be/MqUP2ZtGOAU
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Transcript
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| 0:00.0 | What really is scary is going year after year after year with no idea which jobs are making |
| 0:06.6 | money, which jobs are costing you money, and what you should be doing as far as forecasting. |
| 0:15.4 | What's up, everyone? Welcome back to Midweek Modern Craftsman. I'm excited for this week. |
| 0:23.6 | So as I do many times, the catalyst for this conversation was based on a consulting call |
| 0:32.5 | that I recently had about just being new in business, not understanding the ropes, having confidence in |
| 0:41.5 | yourself, potentially some imposter syndrome, and what you can do from a business perspective |
| 0:50.4 | to just run a profitable, sustainable, viable business. It's obviously easier said than done, |
| 0:59.3 | but at the same time, I think that we often complicate things and we lack confidence |
| 1:05.5 | because we just don't understand what's going on. And I know that I talk about this a lot. I just don't think |
| 1:14.1 | it has to be that complicated. The bigger you get, the more complex your businesses, the more |
| 1:19.4 | employees you have. Yeah, it becomes a little bit more complicated, a little bit more convoluted. |
| 1:26.6 | But realistically, the smaller you are, the easier it should be. |
| 1:32.7 | And the more important it actually is because you need to make sure that you are capturing |
| 1:38.7 | all of your time, all your numbers. |
| 1:40.5 | You have to be making sure that you're forecasting properly and you have to make |
| 1:45.5 | the necessary and proper decisions in order to make money. And I think what most of us struggle with |
| 1:55.0 | is that we just, we don't have any sort of reference point. We are uncertain of what our numbers look like, what we should |
| 2:04.8 | be doing, what type of jobs, what type of client. And I want to try and walk through just some of the |
| 2:11.7 | simple things that you can do as a business owner to understand your numbers and to understand the really the basis of |
| 2:22.2 | your business. And again, this could be for a bigger company. This could be for a smaller |
| 2:28.8 | company. I see a lot of young men and women who get so extremely overwhelmed with the thought of, |
| 2:36.7 | I don't understand the numbers end of the business. |
... |
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