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. 

On October 8, 2016, the Birmingham Electrical JATC and IBEW Local No. 136 assisted in the setup and takedown at Oktoberfest Trussville, an annual event in Trussville, Ala., that raises money for local charities.

Second to electricians and project managers, the most important assets on any work site are equipment and tools. But until recently, tracking them—in the warehouse, in trucks and vans, and on the job site—was a paper-, pen- and phone-based operation.

My September column, “America’s Money,” explained the basic structure of the Federal Reserve, including the 12 Federal Reserve Banks, Board of Governors and Federal Open Market Committee (FOMC). All checks are cleared through this system.

Hundreds of jobs have been “mothballed” or put on an extended hold status. It occurs with home-renovation projects, power plants, marinas, dentists’ offices and automobile manufacturing plants, to name a few. Every case is unique, yet almost all instances eventually boil down to money issues.

More on Your Business

 
Breaking into Residential Design/Build

In the realm of design/build, residential work has been the road less traveled, since the majority of electrical contractors have chosen to beat a path to the larger and more lucrative commercial/industrial/institutional (CII) projects of this kind, but that may be changing.


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At the Bitter End

The law of default terminations: Except for instrumentation contractors, “termination” is a bad word, and default termination is worse; typically, but not always, a default termination arises from delay issues: The contractor is slow and will not increase his manpower, or completion dates have passe


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Minnesota Contractor Lights up Ice Maze for Carnival

Collins Electrical Construction Co in St Paul, Minnesota, has been serving the St Paul Winter Carnival since 2001; the 59-year-old company volunteers its people and electrical equipment to light up the ice maze, snow sculptures and the bulk of Harriet Island during St.


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Technology Plans for K-12 and Up

Blueprints for security and much more: E-Rate, the Universal Service Fund-sponsored program (also based on the school lunch program), provides much-needed support for cash-strapped schools, school districts and libraries in the form of providing cash-back discounts for eligible technology purchases.


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PQ Alphabet Soup

From A to Z, power quality in the education market takes on added importance:


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Pricing for Profit - Part 3

Planning and philosophy: In the first two parts of this series, we looked at the components of profit calculations, including markup and margin, break-even and contribution; no formula or calculation takes the place of strategic thinking, so the underlying foundation for profitable business is the p


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Taking Away Surety's Defenses

Learn from sample case: A recent case translated to a series of decisions in favor of our client, and it may be helpful to electrical subcontractors raising payment bond claims; the case showed issue types that often appear in litigation and can dramatically impact whether you recover and what your


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