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. 

Have you heard the joke about the pollster soliciting opinions outside the United Nations? It’s funny, but we’re not going to tell it here. We’re also not going to discuss political polling. We’re here to talk about you and what you’re working on.

As customers look to improve energy efficiency in their homes and businesses try to reduce energy costs, more utilities are recrafting their websites to provide relevant information to their customers and to the electrical contractors that may perform energy-efficiency work for them.


When should you start saving for retirement? Implicit in that question is the fact that you haven't started yet. The answer is, thus, an easy one. Now.

States, like the people who live in them, respond to adversity in different ways. As the nation’s coal industry confronts a mounting collection of challenges, one state that relies heavily on the industry has chosen an optimistic path 
of defiance.


More on Your Business

 
Can You Tell the Soup from the Recipe?

Challenging clauses can cause confusion: I have searched through actual contracts for some clauses to challenge you. Compare them to the provisions in your own agreements. What do they mean? What are they meant to mean? Can you live with these obligations?


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Building Better Bonding Relationships

As an electrical contractor, your experience with bonding may be limited to the unpleasant task of making a claim against a payment bond; surety bonding is often confused with insurance.


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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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