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. 

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.

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.

More on Your Business

 
Marketing Strategies for Today's Turnkey Contractor

Before we can market ourselves, we have to establish a base line. That will require us to develop an understanding of what we are marketing and, above all, who we are. Many contractors identify themselves as being in the electrical business or in the construction trade business.


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Power to the People

Maintaining your most valuable resource  As a business owner, people are your most important asset, but they are often the most neglected. If you aren’t developing their potential, you may as well stop changing the oil in your trucks and paying the utility bills for your office.


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The Birthplace of Mistakes

How to review during the takeoff I SOMETIMES GET AHEAD OF MYSELF when I write these articles. In my April article, I discussed what you should do when you find one of your mistakes. But I never told you how to avoid making mistakes. Nobody can.


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Setting up Camp in a Hotel

How to manage the working environment Contractors have learned through trial and error that every project runs differently. Though some components may be standard, some projects may require certain attention to detail regarding the crew’s work.


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The Ups and Downs

A power play with hotel elevators In hospitality and gaming facilities, elevators are a vital system—a system that relies on power quality. Generally, the height of these facilities makes the use of stairs an alternative for only a few patrons.


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Do You Have the Time?

Protect your ability to enforce payment After several years of an overheated construction market, signs of slowing are starting to appear. Interest rates have jumped. Housing starts are down. Major homebuilders report cooling of revenues or dropping earnings.


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Works Well with Others

Enhancing cooperation between disciplines with software ELECTRICAL CONTRACTORS KNOW the high costs of labor across the entire organization. Most think about outside field force staff, technicians, installers and the like when they start evaluating ways to reduce labor costs.


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