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. 

I begin this month’s column with an acknowledgement that should come as no surprise: I’ve learned a lot over the years that I have been involved with NECA and especially during the years I have been its president. One important lesson: There is often more to something than meets the eye.


Electrical contractors have volunteered and donated to charitable organizations and other causes for decades. In more recent years, contractors have embraced giving at a personal level. O’Connell Electric Co.


Thirty-four classes are offered throughout the convention (as part of a full NECA registration or as a separate education package). Preconvention workshops are offered Oct. 6–7; they require a separate preregistration and fee.

Did you see the Great American Solar eclipse of 2017? So cool! At the electrical Contractor office just north of Washington, D.C., we wore our NASA-approved eclipse safety glasses to watch the moon block out about 80 percent of the sun.

More on Your Business

 
Spreading the Knowledge

The “Profile of the Electrical Contractor” in the July issue of ELECTRICAL CONTRACTOR showed 65–70 percent of those surveyed indicated they performed power quality work.


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Nobody's Perfect

There will always be mistakes in your work, but the real cost of those errors might be greater than you realize. As an electrical contractor, you know the cost of rework amounts to more than simply labor and materials.


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Looking Where It Counts

When most people think of the source and effects of power quality problems, they think of voltage interruptions, harmonics, transients, sags, swells and even flicker, all of which are phenomena that occur on the alternating current (AC) voltage system.


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Sensitivity Training

Last month, I covered common power quality phenomena with regards to the National Electrical Code (NEC). Two articles address specific topics related to power quality: Article 647, Sensitive Electronic Equipment, and Article 708, Critical Operations Power Systems (COPS).


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Remodeling Dips but Shows Signs of Stabilization

The remodeling market slid backward during the second quarter of 2010, according to the latest National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI). The RMI (combining current and future market indicators) sank to 40.7 from 43.8 in the first quarter.


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A Positive Testament to Indestructible Resiliency

If it wasn’t clear before, the 2010 Profile of the Electrical Contractor, featured in the past two issues of this magazine, settles the question unequivocally: The economy has had a serious impact on electrical contractors (ECs).


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Reversing Your TIFORP

What is “TIFORP,” and how does it affect your financial planning? The acronym TIFORP contains six components that are seldom prioritized to serve the best interests of business owners. T is for taxes Business owners want to minimize taxes to keep more of the money they earn.


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