"Broke - Aholics & how to end the cycle"

Saturday, December 28, 2024

Broke-aholics:
Why Remodelers Stay Broke While Others Cash In

 
How is it that one remodeler seems to thrive while so many others barely survive?
Why is it that the same industry that builds dream homes often leaves its contractors living paycheck to paycheck?  

Here’s the hard truth: some remodelers invest in themselves, surround themselves with the right people, and focus on what truly matters. Others? They spend their time arguing about nail guns and chop saws while blaming the economy, the competition, or their clients for their struggles.

If you’re feeling stuck, frustrated, or broke, this article is for you. Let’s dive into why so many remodelers stay broke, what the top 1% are doing differently, and how you can start turning things around today.

Why Remodelers Stay Broke
Let’s face it: the remodeling industry is behind the times.

While other professions—doctors, real estate agents, mortgage brokers—have leveled up by investing in training, personal development, and business strategy, many remodelers are still stuck in survival mode. They’re grinding from one job to the next, chasing leads, throwing out bids, and hoping something sticks.

Here’s the problem:

They focus on the wrong things. Arguing over tools, trucks, or framing techniques won’t grow your business.
They’re afraid to invest. Training, coaching, or hiring top talent feels “too expensive,” but the truth is, you can’t afford not to.
They stay in their comfort zone. Doing what you’ve always done will only get you the same results.
It’s not easy to admit, but if you’re broke, you’re the problem. And that’s good news—because it means you have the power to change it.

What Successful Remodelers Do Differently
Now, let’s talk about that one remodeler in your market who seems to have cracked the code. You know the one—they’ve got the best clients, the most profitable jobs, and a team that loves working for them.

Here’s what they’re doing differently:

They Invest in Themselves and Their Team.
Workshops, bootcamps, coaching, and training—they know the skills that grow a business aren’t just technical. They master sales, marketing, operations, and leadership.

They Track Their Numbers.
They know their costs, how to price jobs for profit, and where every dollar goes. Success is a numbers game, and they play it well.

They Stop Competing on Price.
They sell value instead of undercutting the competition. They attract clients who understand their worth and are willing to pay for it.

They Build Systems.
Instead of reacting to every problem, they create systems for marketing, sales, and production—so their business runs smoothly even when they’re not there.

Here’s the thing: it’s not magic. It’s not luck. It’s intentional effort. While others are throwing stones or arguing about tools, they’re focusing on building a business that works.

How to Break the Broke-aholic Mindset
If you’re ready to stop struggling and start thriving, here’s where you begin:

1. Invest in Your Education.
Learn the skills that actually make you money—like sales, marketing, and business management. Stop saying, “I don’t have time for training,” and start making time.

2. Build Systems.
Document how you do things, improve those processes, and create systems for consistency. Start with one area, like how you manage leads, and go from there.

3. Get Help.
Hire a coach. Join a mastermind. Surround yourself with people who are doing better than you. Success leaves clues—find someone who’s been where you want to go and learn from them.

4. Shift Your Mindset.
Stop blaming the economy, the clients, or the competition. Take ownership. If you’re broke, it’s because of the decisions you’ve made—and that’s powerful because it means you can change them.

What If You Don’t Change?
Here’s the reality: if you keep doing what you’ve always done, you’ll keep getting what you’ve always gotten.

You’ll keep living paycheck to paycheck.
You’ll keep fighting to get paid what you’re worth.
You’ll keep watching others succeed while you scrape by.
And one day, you’ll wake up and realize you’ve wasted years—years you can’t get back.

But here’s the flip side: What if you do change?

You’ll attract better clients who value and respect your work.
You’ll build a business that runs smoothly, freeing up your time and energy.
You’ll finally make the kind of money you dreamed about when you started.
The choice is yours.

My Story: Breaking Out of the Broke Cycle
Let me tell you about one decision that changed everything for me.

Years ago, I hired my first business coach. His name was Clay, and it scared me to death to hire him. It cost $10,000 just to get started, and at the time, I didn’t think I could afford it. But I also realized I couldn’t afford not to.

Clay was tough. He didn’t let me off the hook, but he also showed me the opportunities I couldn’t see. Within a year, my sales doubled.

One of the first things he told me was, “Mike, your website is awful. You’re losing business.” He connected me with a web designer named Diego, who built me a new site for $6,000. That felt like another huge investment, but here’s what happened:

That website helped me land my first $100,000+ kitchen remodel.
That job got featured on the site, which caught the attention of an HGTV producer.
That exposure opened even more doors, including being hired as an expert witness for a Virginia law firm in contractor-homeowner disputes.
Do you see the chain reaction? One decision—to hire a coach—led to opportunities I never could’ve imagined.

Final Thoughts: Success Starts With You
If you’re still stuck, struggling, or broke, it’s not because of the economy, the competition, or your clients. It’s because of the decisions you’ve made—or haven’t made—so far.

So here’s my challenge to you:

Stop making excuses.
Stop focusing on the wrong things.
Start investing in yourself, building systems, and surrounding yourself with people who will help you grow.
Because the truth is, someone in your market is getting the best jobs, the best clients, and the best team. Why shouldn’t it be you?

Take the Next Step
Ready to stop being a broke-aholic and start building the business you’ve always dreamed of?

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Apply for one-on-one coaching to transform your business today.
The choice is yours—keep struggling or start winning. Let’s get to work..

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