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. 

Linemen from Quanta Services address damaged poles in an area flooded by Hurricane Harvey

The nation’s late summer flurry of hurricane activity was unprecedented. Within days of the record downpours from Hurricane Harvey that overwhelmed the Houston area for nearly two weeks in late August, Hurricane Irma roared through the Caribbean, devastating the U.S.

Image courtesy of Community First! Village

It was announced this week that Alan Graham, the CEO of Mobile Loaves & Fishes, a nonprofit group, plans to raise $60 million in donations to expand Community First!

For each project, electrical contractors must ensure the right equipment is on-site, that it’s affordable and, most important, safe and reliable. But what to do when dealing with installed equipment or with tools and equipment that they don’t own? How do they know it’s safe and hasn’t been damaged?

Sometimes you have a choice to get wet; sometimes you don’t. Splashing through puddles for fun is one thing. Forgetting your umbrella is another. Getting doused with 27 trillion gallons of rain, which is how much Hurricane Harvey dumped on Texas and Louisiana, is altogether something else. 

More on Your Business

 
Securing the Promise

In the September issue, I discussed some of the claims that various organizations working on the smart grid have made in the two years since the Energy Independence and Security Act of 2007 passed. The act contained Title XIII, which has 10 characterizations of a smart grid.


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Return on Giving

The year-end holiday season prompts decisions about giving to charitable organizations, customers and employees. It may seem cold-hearted to evaluate gifts in terms of the potential return on your investment, but it is simply a bad business practice to distribute wealth out of habit.


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ComEd Launches First Wave of Smart Meter Installations

Commonwealth Edison Co. (ComEd) began the first wave of 131,000 smart meter installations for its advanced metering infrastructure (AMI) pilot in the Chicago area.


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Avoiding the Bankruptcy Blues

Getting paid is a business survival issue for electrical contractors. Your customer’s bankruptcy impacts your ability to get paid. It also can result in a court undoing prior transactions if the court views them as preferences.


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New Financial Incentive Program Could Break up the Clouds Over Solar Power

One of the greatest obstacles preventing widespread use of solar power on the rooftops of homes and businesses is the prohibitive cost of installing the systems.


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Gaining Perspective

Waiting for the economy to rebound can be highly stressful for an electrical contractor, and one way to reduce that stress is to step back and gain perspective on your financial situation.


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We Don't Want You Anymore

It seems basic that when two parties enter into a construction contract, they are both bound to perform as agreed. Neither side has the right to walk away from the commitment unless there are exceptional circumstances, none of them good.


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