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. 

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.

Understanding and accepting 
change is important in any walk of life, but especially so in electrical construction. I’ve seen how innovations in technology have affected the men and women in my business, and it’s exciting to be a part of it.

Tools, such as Milwaukee’s M18 FUEL hex impact driver kit, are available to rent.

These days, almost anything can be rented, and the rental industry has done a good job making consumers and business owners aware of the benefits of renting versus owning.

In September, the Occupational Safety and Health Administration (OSHA) awarded $10.5 million in safety and health training grants to 77 nonprofit organizations, according to a press release from the U.S. Department of Labor (DOL).

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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Phases of the Moon

Consider other key factors when diagnosing:


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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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