S2 Episode 6 || From Chasing Jobs to Chasing Profits: How Simon Davis Reclaimed His Life Through Profit First

In this episode of Profit First For Tradies, Katie Crismale-Marshall speaks with Simon Davis, a fencing contractor and coach who has transformed his business and mindset by implementing the Profit First system.

Simon candidly shares his past struggles of being a "broken man," working excessively long hours yet barely making money. He attributes much of this to lacking financial management skills and cash flow systems in his business. Simon recounts chasing one job after another just to cover payroll, rather than pursuing profitable work. His spending was impulsive with no planning, further exacerbating cash flow issues.

However, Simon's perspective began shifting after being introduced to Profit First principles. He started allocating small percentages of revenue into separate accounts, which seemed insignificant at first, but compounded rapidly over time. This new financial clarity allowed Simon to be more thoughtful with purchases, confident he could afford larger investments when needed.

More importantly, Simon explains how Profit First has given him the choice to better balance work and life. He can now take breaks when conditions are gruelling without stressing about cash flow. Profit First has enabled Simon and his wife to splurge on vacations and even for his daughter's wedding — something previously unimaginable.

Simon stresses that while business issues are inevitable, Profit First provides the systems to remain proactive rather than perpetually reactionary. He has applied this methodology to quote more accurately for jobs, conduct thorough cost analyses, and plan for major expenses well in advance.

In this episode of the Profit First for Tradies, you’ll learn the following:

• The value of having a profit-first mindset and not falling into the trap of “the customer is always right” mindset  (22:16)

• The dangers in Tall Poppy Syndrome (26:01)

• Changes Simon noticed in his behaviour and mindset once he incorporated Profit First in his business (32:53)

• How Profit First helps you become more proactive rather than reactive (35:58)

• The perks of planning and making sure you always hit your profit margin (38:59)

The key principles Simon underscores are having clarity on financials, embracing lifelong learning, investing in training, and surrounding yourself with competent mentors and team members aligned with best practices. His transformational story exemplifies how sustainable profitability unlocks personal and professional freedom.

Quotes

“You can't save your way to wealth … money makes money, and you've got to spend it to make it.” - Simon Davis

“Life is just too short to wait until this happens or that happens to be able to take those holidays … we've got to have something to look forward to and plan for from a personal perspective. Because otherwise … it's just hard, hard, hard, hard work with no return. And that is not fun at all.” - Katie Crismale-Marshall

“Every business has issues, every family has issues, there's always going to be issues. It's where you're standing on the side of it, whether you're going to let them drag you down or you're going to put steps in place to move to the next level.” - Simon Davis

Resources

Profit First for Tradies

Mike Michalowicz

The Pumpkin Plan

CONNECT WITH KATIE CRISMALE-MARSHALL

• Website: https://www.profitfirstfortradies.com.au/ 

• YouTube: https://www.youtube.com/@profitfirstfortradies9503/featured  

• Facebook: https://www.facebook.com/ProfitFirstforTradies/   

• Email: [email protected] 

• Instagram: https://www.instagram.com/profitfirstfortradies/

CONNECT WITH SIMON DAVIS

• Fencing business website: North Coast Fencing 

• Coaching and mentoring business website: The Profitable Fencer

• Facebook group: The Fence Posts Facebook Group

• You Tube podcast: A Fencer’s Life - Lessons from the Trenches

• Spotify podcast: A Fencer’s Life - Lessons from the Trenches