64 | The Hidden Costs of Hiring Technicians with Guest Co-Host Kristen Deese the Virtual CFO of the Trades

Freedom Blueprint for Home Services | HVAC, Plumbing, Electrical, Leadership, Business Growth

Show Information

Episode Number: 64

Date: December 9, 2024

Duration: 31:24

Host Information

Host: Justin Deese

Website: JustinDeese.com

Contact: [e-mail]

Guest Co-Host Info: Kristen Deese

Guest Company:Virtual CFO for the Trades

Guest Contact: [e-mail]

Guest Website: www.KristenDeese.com

Summary

In this episode of the Freedom Blueprint Podcast, Justin Deese and his wife Kristen discuss the challenges of running a home service business, particularly focusing on the costs associated with hiring technicians. They explore the various expenses involved in onboarding new hires, including training costs, uniforms, tools, and payroll. The conversation emphasizes the importance of measuring these costs to ensure effective management and to understand the return on investment for new hires. They also touch on the significance of having a structured training program to help technicians become revenue generators quickly.

Takeaways

• Running a home service business is challenging and requires strategic planning.
• Understanding the costs associated with hiring technicians is crucial for business success.
• Onboarding new hires involves various expenses beyond just their salary.
• It's important to measure costs to manage them effectively.
• Training programs should focus on the most common tasks technicians will encounter.
• Trust but verify the skills of experienced technicians during the hiring process.
• A structured training program can help new hires become productive quickly.
• The cost of a technician in training can be significant, impacting overall business finances.
• Regular financial reviews can reveal surprising profitability and areas for improvement.
• Effective communication and planning are key to successful business operations.

Chapters

00:03 - Introduction and Transition to Farm Living

02:21 - Weekend Visits and Building the "Mansion"

04:45 - Sharing on Social Media and Studio Setup

07:08 - The Cost of Hiring a Technician

09:24 - Essential Onboarding Costs and Components

11:32 - The Importance of Onboarding and Initial Expenses

13:55 - Concluding Thoughts and Effective Hiring

Keywords

home service business, hiring technicians, onboarding process, training costs, business growth, revenue goals, technician training, cost analysis, employee management, Freedom Blueprint Podcast