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. 

The success of one technology often feeds another. For example, renewable power and energy storage have each other to thank, in many respects, for their combined rising popularity. Storage helps meet the needs of renewables, and their growth, in turn, increases the demand for more storage.


Little Giant SafeFrame ladder

Ladders have been in use for thousands of years. A quick Google search of “first ladder” returns information about a Mesolithic rock painting at least 10,000 years old, the first historic evidence of a ladder. The image depicts two people using a ladder to reach a wild honeybee nest.

In February, the New York Power Authority (NYPA), the nation’s largest state public power organization, with 16 generating facilities and more than 1,400 circuit miles of transmission lines, received two Electric Power Research Institute (EPRI) Technology Transfer Awards for research that sheds ligh

Do you believe that your financial adviser knows more than you do about how to make your money work for you? Do you trust that adviser to be ethical?

More on Your Business

 
Big Bad Bid Day

How to review your bid, part 3: Note to estimators: I write this article assuming you have finished and reviewed your takeoff (see part 1, October 2006), and ran and reviewed all of your extensions (see part 2, November 2006); if you haven’t, you will need to accelerate the following to Warp 10.


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Stuck in the Middle

The balance between the manufacturer and the customer:


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Pricing for Profit, Part 1

Making sense of markup and margin: When you look at your latest income statement, you probably check the bottom line first; for many electrical contractors, the net profit figure is often a surprise.


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Hiding Behind the Wall

Out of sight doesn’t mean out of mind: Probably few industrial/commercial segments are as power-quality conscious as the financial, banking, credit and insurance companies.


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Catching Some Zs

Don’t fall asleep at the wheel of your business No matter how well you plan and manage your company, you cannot guarantee that you won’t be one of the 40,000 companies filing bankruptcy in a given year. Not all factors resulting in business failure are under your control.


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