Your Business

 

 

Articles in this section are intended to help electrical contractors grow and improve their businesses, from financial and legal advice to creating a service and maintenance department. You’ll find articles on estimating projects and more below. 

Hundreds of jobs have been “mothballed” or put on an extended hold status. It occurs with home-renovation projects, power plants, marinas, dentists’ offices and automobile manufacturing plants, to name a few. Every case is unique, yet almost all instances eventually boil down to money issues.

Understanding and accepting 
change is important in any walk of life, but especially so in electrical construction. I’ve seen how innovations in technology have affected the men and women in my business, and it’s exciting to be a part of it.

Tools, such as Milwaukee’s M18 FUEL hex impact driver kit, are available to rent.

These days, almost anything can be rented, and the rental industry has done a good job making consumers and business owners aware of the benefits of renting versus owning.

In September, the Occupational Safety and Health Administration (OSHA) awarded $10.5 million in safety and health training grants to 77 nonprofit organizations, according to a press release from the U.S. Department of Labor (DOL).

More on Your Business

 
Getting To Know You: A Closer Look at Financial Advisers

Choosing a trustworthy financial adviser can be confusing and stressful. In last month’s column, we learned that researchers have not been able to find a link between financial literacy education and improved consumer decision-making.


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Service-Oriented From Day One

It was just another beautiful Thursday afternoon in San Francisco when someone on an upper floor of a gleaming downtown office tower, taking time out for a quick game of bean bag toss, put a little too much arm in his delivery, hit a sprinkler head on the ceiling, and set off the building’s emergenc


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Southwire Maxis XD10 cable puller has up to 10,000 pounds peak-pulling force.
Cool Tools: Cable Pullers

Large projects require power cable pullers to get the job done quickly, efficiently and with minimal physical labor. The equipment’s basic components are the frame, power source, capstan, pulling rope and mechanism that rotates the capstan.


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Lakeview Amphitheater on the shore of Onondaga Lake seats 5,000 attendees in the pavilion and 12,500 on the lawn.
Showtime by the Lake: O'Connell Electric

On September 3, 2015, only days after construction was completed, a sold-out crowd of 17,500 people at the Lakeview Amphitheater on Onondaga Lake cheered as country music star Miranda Lambert took the stage.


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BIM's Future Continues to Look Up

A report published in April by Allied Market Research, titled "World Building Information Modeling (BIM) Market - Opportunities and Forecasts, 2015–2022," forecasts that the world BIM market will generate revenues of $11.7 billion by 2022, representing a compound annual growth rate (CAGR) of 21.6 pe


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Evolutionary, Not Revolutionary

The press has had much to say about the death spirals on the way for the 
electric-utility industry, thanks to the rapid proliferation of rooftop solar panels and other distributed-energy resources.


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Cash Out and Pass the Baton to the Next Generation: Understanding Exit Planning and Succession

In running your electrical contracting business, there is only one guarantee: you eventually will exit—either voluntarily or involuntarily. The day will come when you will have to say goodbye.


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