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. 

Few one-trick ponies exist in the digital age. As cell phones have become portable computers, other devices also have taken on multiple functions.

This article is the fifth in a series of six tactics in which the electrical contractor can maximize purchasing power and profitability though procurement. Click here for part five.

Something I’ve thought a lot about since I became president of the National Electrical Contractors Association (NECA) is the value of membership in our association. I want to know more about our members’ perception of the value they want and receive from NECA.

In early 2015, the IBEW/NECA Technical Institute in Alsip, Ill., started building a 250-acre on-site facility, the Renewable Energy Training Field (RETF).

More on Your Business

On the Cutting Board

After many months of wrangling, the $70-billion, Tax Increase Prevention and Reconciliation Act of 2006 is now a reality.

I Showed You What I Wanted; I Thought You Understo

There’s an old Lefty Frizzel song with the lyrics: “If you can’t keep your promises, please don’t make them, my dear.” Lefty probably did not know it, but that song sums up the Spearin Doctrine in construction contracts.

Streamlining Inventory Management

Electrical contractors install a variety of parts, material and equipment on every job, which represents almost half of the total project cost. Providing the correct materials at the right time is critical to keeping projects on schedule; delays can waste valuable labor hours and money.

The Tools of Maintenance

Each contractor generally has his own maintenance philosophy, but some parts are common for every contractor. For example, the overall goal should be to offer the most comprehensive service possible. To accomplish that goal, contractors need the proper tools.

An Ounce of Prevention ...

Finding Planning time is difficult when you are chasing work in a competitive economy, and nearly impossible when you are booked to capacity.

Power Hour

Why don’t electrical contractors spend more time reviewing their financial statements? How much time does it really take to do a financial self-examination? Do you have to be an accountant or financial wizard to evaluate the status of your financial health? It might be easier than you think.

Estimating Blind

As the economy stands on firmer ground, privately funded buildings are coming back to life, bringing a surge of design-build projects with it. This is very good news for estimators, because more buildings mean more work to bid on and win for the company.