Summary
The “Putting Your Business On The Map” podcast episode examines why land surveyors frequently earn inadequate wages and suggests potential solutions. The episode defines a “starvation wage” as earnings that do not cover basic needs and a comfortable lifestyle, and it posits that many surveyors struggle to attain this level of financial stability. The podcast highlights the negative effects of this issue on surveyors, their families, and the profession, such as decreased motivation, lower service quality, and a lack of new talent entering the field. To illustrate the problem, the presenter recounts an experiment using Yelp to determine the lowest possible fees for residential lot surveys in the Bay Area, which exposed surprisingly low rates accepted by some surveyors.
The podcast identifies seven major causes of this problem: a strong passion for land surveying, a lack of business expertise, subsidizing clients, clients pushing surveyors around, poor business and cash flow management, the types of clients they serve, and undervaluing and giving away expertise. According to the episode, surveyors often undercharge because they love their work, lack business acumen, and don’t bill for all services rendered. The podcast also notes that unreasonable payment terms from clients and the propensity to work for difficult clients, such as homeowners, exacerbate the problem.
Contents
• 0:00 – Introduction
• 0:51 – Opening Story: The $69 Scanner
• 1:53 – Episode Focus: Undercharging and Earning What We’re Worth
• 2:26 – Section 1: Understanding the Problem
• 2:33 – Defining “Starvation Wage”
• 3:24 – Personal Anecdote: Not Primarily Money Motivated
• 4:18 – Goal: Comparable Living Standard to Other Professionals
• 4:54 – Impact of Low Wages
• 5:14 – Reduces Motivation to Enter the Profession
• 5:38 – Lowers Quality of Consulting Services
• 6:00 – Group Behavior Enables the Problem
• 6:26 – Example: Bay Area Lot Surveys on Yelp
• 7:27 – Hourly Charge Rate vs. Actual Hourly Wage
• 8:15 – Example: Friend Making $250,000 a Year
• 8:52 – Starvation Wages Defined
• 9:12 – Section 2: Seven Causes of the Problem
• 9:20 – 1. Love of Land Surveying1
• 10:09 – 2. Lack of Business Expertise2
• 10:24 – Episode 22 Mention
• 11:06 – 3. Subsidize Our Clients3
• 11:48 – PYB-OTM Extra Mention
• 12:13 – 4. Clients Push Us Around4
• 13:16 – Unhealthy Client Dynamic
• 13:45 – 5. Poor at Business Administration and Cash Flow Management5
• 13:54 – Episode 4 Mention
• 14:38 – Unreasonable Payment Terms
• 15:14 – 6. The Clients We Serve6
• 16:14 – Plumbers vs. Surveyors
• 16:39 – Engineers as Clients
• 17:22 – Anecdote: Civil Engineer Asks About Pricing
• 17:48 – 7. Give Away the Value of Our Expertise7
• 18:31 – Problem Solving and Coordination
• 18:42 – Example: Land Development Client Near Yosemite
• 19:51 – Part 2 Preview and topics8
• 20:14 – Closing Remarks