Why You Keep Losing Deals on Price

Why do you keep losing deals on price and does it actually mean you're charging too much? In this episode, Dominic Rubino sits down with business coach Pete Ficco to unpack one of the most frustrating problems contractors and business owners face: presenting an estimate only to hear that someone else can do the job cheaper. But lowering your price isn't necessarily the answer. Pete shares how estimating, sales training, your sales process, competition, lead qualification, and customer expectations can all affect whether you win or lose a deal. You'll also hear a counterintuitive discussion about close rates. If you're proud of closing 70% or 80% of your estimates, is that automatically a good thing? Pete explains why he has viewed a roughly 35% conversion rate on properly qualified opportunities as a useful benchmark and why hearing "no" is an unavoidable part of selling. Pete speaks from experience. He started his first company at 29, built businesses across multiple industries, and grew his custom cabinetry business from approximately $3 million to more than $10 million in about five years. In this conversation, you'll learn: • Why price may not be the real reason you're losing jobs • How to properly qualify prospects before estimating • Why your sales process matters before you reveal the price • How competition affects your pricing strategy • Why comparing your offer with cheaper alternatives can be misleading • What your close rate can tell you about your pricing and sales process • Why successful salespeople need to get comfortable hearing "no" If customers keep telling you that you're too expensive, don't immediately sharpen your pencil. First, figure out whether you actually have a pricing problem or a sales problem. If this episode gives you value, like the video and leave a comment. More about Pete Ficco: Linkedin: https://www.linkedin.com/in/peter-ficco-b203b017? Company's Linkedin: https://www.linkedin.com/company/prosper-vp? Website: https://www.prospervp.com/ Also check out: Cabinet Maker Profit System: https://www.cabinetmakerprofitsystem.com Profit Toolbelt: https://www.profittoolbelt.com/ Contractor Wealth System: https://www.contractorwealthsystem.com/ DON'T FORGET TO SUBSCRIBE: @Cabinetmakerprofitsystemcom @profittoolbelt4527 #cabinetmakerprofitsystem #ProfitToolBelt #dominicrubino #millwork #cabinetmaker #woodwork #profitability #podcast #efficiency #entrepreneur #architecturalmillwork #woodworkingbusiness #CabinetShop #ArchitecturalMillwork #ContinuousImprovement #LeanManufacturing #WoodworkingBusiness #ShopManagement #ExitPlanning #ManagementBuyout #ConstructionBusiness #petefico