Money Conversations for Techs

HVAC School - For Techs, By Techs

Bryan Orr

Education, Business, Self-improvement, Careers

4.9 • 1K Ratings

🗓️ 2 September 2021

⏱️ 109 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In today's podcast, Bryan and Jesse talk about how technicians can have conversations about finances and money in the HVAC business.

The first step for any successful business is to provide customers/clients with a product or service of value. However, there must be a balance between providing something of value to customers and providing excellent customer service.

When starting an HVAC business, one of the biggest mistakes is making money the top priority. Money can only become a factor after a business establishes the value of its services and communicates its value to its customers. There is no hard line for fair pricing, so the contractor and customer must have productive conversations to establish a price tag and the expectations for the work performed.

That same mistake applies to employees who want raises or promotions. Employees may feel as though they are owed more for their work, but they must establish their value before they get a raise. Again, the goal is to avoid unmet expectations.

Profitability and value are not just important to the managers and bookkeepers of an HVAC business. Technicians are the ones who bring those things to their organization. Labor is expensive, but it must be valuable if you want to turn a profit (either for the business or in the form of increased wages). Technicians can increase their value and profitability by mastering skills and learning niche practices.

When a business becomes more profitable, it can invest in better training for its techs. It can also have more control over the customers it chooses to serve.

Jesse and Bryan also discuss:

Maintenance agreements
Service repairs
Misunderstandings about tax write-offs
Bundling and flat-rate pricing
Establishing value with commercial customers
Technician skillsets
Warranty challenges
How to communicate price ranges
Treating difficult clients with respect

Check out information on the 2022 HVACR Training Symposium HERE.

If you have an iPhone, subscribe to the podcast HERE, and if you have an Android phone, subscribe HERE.

Transcript

Click on a timestamp to play from that location

0:00.0	This episode of the HVAC School Podcast is brought to you by our brand partners.
0:08.8	Carrier and Carrier.com, Refrigeration Technologies and Refrigerate Tech.
0:14.6	The Pastorellos, Mike and John,
0:16.7	run a great organization and they make some of the best chemicals
0:20.0	out there for our trade.
0:21.8	A new product that you're going to want to try out if you haven't tried it yet is
0:25.4	Nylog White. We've tested out Nylog White. It's designed for air, water, glycol, and gas, so you can use it on all of your threaded connections.
0:35.2	It replaces many of your existing pipe dopes.
0:38.0	It's a very smooth, it's a very clean applying product.
0:41.6	Comes in a nice clean white container with a thread on brush cap so you can apply your thread sealant on all of your threaded connections easily and smoothly that is nylon white from
0:54.4	refrigeration technologies. Buy down more by going to refrigerate.com.
0:59.1	Navac and Navac Global.com if you haven't taken a look at the NRD C4M recovery
1:04.6	machine it is a four cylinder recovery machine literally the fastest recovery
1:09.2	machine that you're going to be able to buy from a supply house is the NRD C4M. You can also find it at trueTech Tools.com
1:15.9	use the offer code get schooled for a great discount at checkout if you are in the commercial
1:20.9	side or industrial side to the industry especially you're going to want to take a look at the NRD, C4M from Navac.
1:28.0	Field Piece and Field Piece.com. Field Piece makes the entire suite of JobLink Link probes everything from monometers to
1:35.0	Inductsichrometers line temperature clamps with rapid rail technology
1:39.2	once you use the field piece Job Link probes for checking the system you're not going to go back to
1:44.9	anything else it is what we use in our company we've been teaching it at the school and
1:49.4	the students really love it even people who are resistant to, even those who like typical analog type gauges because it's what we're used to.
1:56.7	I think once you try them, you're going to love them.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Bryan Orr, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Bryan Orr and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.