Why Every Trade Business Must ALWAYS Avoid Bloated Overheads

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Let me paint a picture…

You’ve been invited by some buddies to join them on a 20km hiking trip.

You’ve never done a hike like this before, but lucky for you, your buddies are experienced climbers and have done this a thousand times.

The morning of the hike you see everyone weighing their packs down to the gram, NOT kilograms, carefully only loading items they absolutely need.

Which all of a sudden leaves you feeling concerned, because on the contrary your pack is huge… you’ve loaded yourself up with survival gear, a compass, torch, blankets, a first aid kit, spare clothes, sunscreen, camera gear, and enough food and water to last 3 days…

It’s now clear that it’s better to climb a mountain with a pack holding only the essentials for the climb weighing 9kgs, rather than 40kg crammed with a whole bunch of unnecessary stuff you don’t need.

Which brings us to the point of this story…

This is the total opposite of what we see MOST contractors do when climbing the mountain of success.

They continuously load themselves up with a whole bunch of crap they don’t need, bloating their overheads, and only making it harder for them to achieve the profit they want to earn in their business.

GOLDEN RULE:

Always carry a light pack.

If your overheads are too high you’re putting unnecessary strain on yourself, your staff, your profitability, and your business.

Run lean, mean, and profitably. 

Only carry what you NEED.


If you're an electrician, plumber, painter, carpenter, or any other tradie business owner who is looking for assistance with your tax, accounting, and bookkeeping - click here to learn more!


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Bayley Peachey | Accountant & Client Advisor

About the author

As an accountant with a background in construction, Bayley has specialist experience advising trade businesses anywhere from start-up to $20M+, helping clients to simplify financial management...


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