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

 
3-2-1, Blast Off

Last month, we explored the first three steps of FRICTO, a framework for analyzing asset-financing alternatives. As a reminder, FRICTO is difficult to apply to privately held electrical contracting firms in its entirety, since it relies on market-driven stock price for some calculations.


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President Bush Signs Landmark Housing Bill into Law

President Bush signed the Housing and Economic Recovery Act of 2008 into law, helping homebuyers and strapped borrowers and strengthening the housing finance system, according to the National Association of Home Builders (NAHB).


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Curing the Blues

Estimating got you down? Giving you the blues? Trust me, I know how you feel. But don’t get too depressed. There’s a cure just up ahead at the crossroads. Perhaps you can make a deal with someone who is waiting there. Though I don’t recommend selling your soul for estimating.


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Coming to a Web Site Near You

Having just come back from two weeks of working with different standards-making organizations, the NFPA and the Institute of Electrical and Electronics Engineers (IEEE), it seemed appropriate to share the good news with those who aren’t able to participate.


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Promises to Keep

As electrical contractors face an uncertain marketplace,it is tempting to cut marketing and advertising expenses.


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What You Don't See

In our April column, we discussed the cost of accidents. We demonstrated the amount of work the electrical contractor must perform in order to recover the cost of an accident. Therefore, safety becomes an economic, legal, contractual and business issue.


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Proposed Power Plant Would Aid Southeast Texas Area

According to a report conducted by The Perryman Group, an economic and financial analysis firm based in Waco, Texas, the construction and operation of Exelon’s proposed nuclear power facility in Southeast Texas would not just increase energy reliability.


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