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. 

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. 

Often, people in our industry have more than one job title. Smaller shop owners often wear many hats. As businesses grow, one of the most frequent pairings is estimating and project management. 


More on Your Business

 
Money in the Bank

Most facilities have a hidden source of cash within their walls. People working in the energy-reduction field know that usually at least a 10 percent savings in energy can be achieved with a payback measured in less than two years, and often right in next month’s utility bill.


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Rust on the Crown

The phrase, "The king can do no wrong," may sound quaint today. It means a citizen cannot sue the sovereign, even if the king is wrong. This is called sovereign immunity. In American legal parlance, the sovereign is the government.


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Is the Government Hear to Help?

In the first column of this three-part series, I discussed the relative value of money. Last month, we looked at the effects of changes in value, such as inflation and deflation. Now, let’s look at how the government attempts to manipulate the economy.


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McCormick Systems Donates $100,000 to ELECTRI International

McCormick Systems, Chandler, Arizona, recently presented a check for $100,000 to ELECTRI International—The Foundation for Electrical Construction. “We have been involved with ELECTRI International for many years.


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Service With a Smile

Customer relations play a key part in the business of electrical construction. A wise electrical contractor once said the main purpose of a business is to make a profit, and the main function of a business is to create and maintain satisfied customers.


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The 'flations

Last month, we defined money and its relative value in the marketplace. This month, we’ll analyze who benefits when the value of money changes. Keep in mind that the laws of physics also apply to the value of money: what goes up must come down. Inflation


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Smart Grid Pilot Raises Power IQ for Users in Massachusetts

Not least among the many factors feeding the recent buzz about a new national energy order is the dawning of a technology that allows communication between appliances and the systems that deliver power to them.


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