Uncovering Hidden Profits: The Power of Job Costing in the Home Services Industry

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Does this sound familiar? You’ve been diligently working in the home services industry, but you’re struggling with managing your finances and maximizing profitability. You’ve been told to simply track your expenses, but it’s not producing the desired results. The pain of watching your hard-earned money slip through your fingers without seeing any significant growth in your business can be frustrating and disheartening. It’s time to shift gears and explore the crucial role of job costing and expense management to finally achieve improved financial management and increased profitability in your home service business.

In this episode of the Profitable Home Services podcast, Diane Gardner interviews Tersh Blisset, the founder of Service Emperor and host of the Service Business Mastery podcast. They dive into the crucial role of job costing and tracking expenses in the home services industry. Tersh shares personal experiences that highlight the importance of regularly updating systems and accurately tracking costs. He emphasizes the need for job costing, even for small jobs, to understand where cash is being spent. 

Tersh also discusses the challenges his company faced during the COVID-19 pandemic and how they navigated supply shortages and labor issues.Gain valuable insights into the impact of changing prices in the industry and the necessity for technicians to understand the financial aspects of their work. 

In this episode, you will be able to:

  • Absorb the necessity and advantages of embedding automation in your home service business model.
  • Learn the delicate art of balancing delegation with automation for the smooth running of your business.
  • Uncover the vital role of meticulous job costing and expense tracking in the home services universe.
  • Realize the staggering impact of strategically changing prices, underpinned by conscientious cost tracking.
  • Analyze the immense benefits of embracing remote operations and forgoing physical warehouses.

The key moments in this episode are:

[00:02:10] – The Importance of Saying No
[00:05:13] – The Story Behind Service Emperor
[00:10:08] – Automation in Home Service Business
[00:13:14] – Balancing Automation and Human Touch
[00:16:03] – Effective Delegation and the Importance of Clear Instructions
[00:18:00] – Automation and the Need for Solid Processes
[00:22:13] – The Mom Test for Process Evaluation
[00:25:20] – Balancing Creativity and Consistency in Delegation
[00:27:35] – Using Training Programs for Automation and Onboarding
[00:30:42] – The Consequences of Not Updating Systems Regularly
[00:31:59] – The Importance of Job Costing
[00:33:25] – Dealing with Changing Prices and Supply Shortages
[00:36:02] – Educating Technicians on Business Costs
[00:39:56] – Operating Without a Warehouse

“Don’t forget about the clients you already have. Plug the holes in the bottom of the bucket by reengaging them and offering exceptional follow-up.” – Tersh Blisset

Benefits of Marrying Automation
Automation in the home services industry can be a game-changer, as Tersh illustrates. Deploying automated processes, from triggering communications after service calls to utilizing AI in responding to customer reviews, helps foster customer engagement while saving time and resources. The key lies in integrating automation in a manner that maintains personalization and human interaction, ensuring customers feel valued and not overwhelmed by mechanical communications.

Achieving Balance Between Delegation and Automation
While acknowledging the efficiency that automation brings, Tersh reminds us that delegating tasks should not be overlooked. Clear instructions, effective communication, and understanding among teammates constitute the backbone of successful delegation. Striking a balance between automation and human intervention can prevent inconsistencies in consumer experiences, maintain communication with clients, and solidify business processes.

Role of Job Costing and Expense Management
Job costing and expense tracking in the home services industry is vital. Regular updating of systems, and accounting for even the smallest of expenses, help businesses avoid financial pitfalls and maintain profitability. Tersh shares the need for transparency with technicians about the economic realities of the business, quite often facilitating their understanding of pricing and the importance of covering overhead expenses.

About Tersh Blissett:

Tersh Blissett is a host and producer of the Service Business Mastery podcast. He is dedicated to giving back to the industry and was named Top 40 Under 40: The News (HVAC-R) for his exceptional influence. Tersh has created an innovative brand as the owner and COO of Service Emperor – Savannah and the Costal Empire’s leader in providing superior customer satisfaction while providing HVAC & Refrigeration. Providing integrity first, service before self, and excellence in all he does comes naturally since Tersh is a Veteran of the 165th Tactical Air Control Party (TACP) of the Georgia Air National Guard. Not only has he served our country, but he is devoted to serving our community. Tersh has the distinguished honor as the President of the Small Business Chamber of Savannah. He is also privileged to be a board member of Savannah Buy Local and on the Executive Board of the Leukemia & Lymphoma Society of the Low Country. Tersh is the founder, host, and producer of the Shop Small SAV podcast where he assists in highlighting local small businesses. Additionally, he is also involved in a multitude of volunteer work in the Savannah area. 

Tersh incorporates these essentials into his life while still prioritizing his wife and four children. He enjoys reading extensively, teaching his little ones responsibility, and instilling humor in most situations. Tersh devotes time to give his all to his family and friends because he knows the importance of nurturing those fundamental relationships.

Tersh Blissett is a powerhouse leader as a business owner and family man. Find your focus for success and follow him on social media @tershblissett. 

Tersh’s Recommended Book List For Professional Development:

Connect with Tersh:

Websites www.kit.co/tersh/reading-for-success/

Social Links

IG: @tershblissett

LI: https://www.linkedin.com/in/tershblissett

Twitter: https://twitter.com/Tersh_Blissett 

Youtube: https://www.youtube.com/c/tershblissett

TickTock: @tershblissett

Soundcloud: https://soundcloud.com/tersh-blissett-287074782


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