If you’re running a plumbing, electrical, or HVAC business, you probably started because you were great on the tools, not on the books. But growing a trade business isn’t just about hard work; it’s about understanding your numbers, setting smart budgets, and making sure you’re actually profitable for the long haul.
In this episode of The Site Shed, Matt Jones is joined by Jason Noel, a business coach with CEO Warrior. They dive deep into the practical side of trade business budgeting, answering questions most tradies have but never ask: How do I know what to charge? Is my business really making money? What goes into a bulletproof budget, and how do I use it as a roadmap, not just a boring spreadsheet?
🔍 Why So Many Tradies Get Pricing Wrong
Jason and Matt kick things off talking about the “one truck exercise”, a brutally honest way of showing trade business owners the real cost of doing business, even with just one van and a handful of jobs. Most business owners are shocked to find they’re barely breaking even, let alone making a healthy profit.
"Too many times I think profit is looked at as a bad thing and it absolutely is not. Of course, we want to take care of clients, but we have to have profit to be able to invest back into our business and scale."
✨ The CEO Warrior Approach: From Tech to Owner Mindset
Most tradies become business owners without much formal “business” training. CEO Warrior coaches help fill that gap, taking service experts (not just technicians) through analysing financials, setting up correct chart of accounts, and uncovering inefficiencies.
Their method? Dig deep into:
- Clean, accurate profit & loss reports
- Understanding cost of goods, gross margin, and overhead
- Setting ‘destination’ goals with business budgets
- Using historical data (3+ years where possible) to forecast
- Building targets for sales, marketing, and recruitment as part of the plan
Instead of reacting to cash flow surprises or slow seasons, Jason recommends using your budget as a roadmap, so you can be proactive with pricing, hiring, and spending.
🛠 Practical Budgeting: How Tradies Get Control
It might sound boring, but tightening up your chart of accounts and regular P&L reviews are the foundation for freedom. Jason’s advice:
Clean up your financials – Restructure your books into four buckets: revenue, gross margin, overhead, and net profit.
Build your budget backward – Start with where you want to finish (profitability/goal), and calculate everything you need to get there.
Review your pricing – Don’t just charge “what the other guy charges.” Make sure your rates actually cover costs, inefficiencies, and fuel growth.
Plan team & marketing spends – Factor in hiring, vehicles, and ads into your growth plan, so you’re not caught out when the work ramps up.
Jason and Matt also discuss the vital difference between P&Ls and balance sheets, cash flow traps, and why taking control of your finances lets you hire, market, and grow without panic.
💡 Pro tip: Don’t overthink or script everything. Speaking directly to the camera—like you would a customer on-site—builds authenticity and trust.
📚 Resources from this Episode
- Jason Noel’s Website: www.ceowarrior.com
- CEO Warrior’s Socials:
- Check Out These Episodes:
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