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. 

Thomas Edison got it wrong. He predicted that everyone who pinned their hopes on the future of alternating current was just wasting their time.

One of the cornerstones of the smart grid evolution is the smart meter itself. Capturing and sending data in real time between the utility and the consumer has enabled a level of communication between the two that is almost science fiction-like.

Bosch Tools’ Daredevil spade bit with contoured paddle

Power hand tools have advanced rapidly over the last few years, becoming more powerful, productive, lighter and easier to use. Along with other useful convenience features, most of today’s cordless drills have light-emitting diodes (LEDs) to illuminate the work area.


In October 2011, the Illinois General Assembly enacted the Energy Infrastructure Modernization Act (EIMA). One of the main beneficiaries was ComEd, the Chicago-based electric/gas utility. With the passage of the EIMA, ComEd embarked on a 10-year, $2.6 billion program to modernize its power system.


Electrical Contractor Magazine

More on Your Business

 
Leasing Vs. Buying
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It’s almost certain your company will add equipment and tools to its inventory this year. What’s less certain is whether you will buy outright or lease. Neither choice is all good or all bad, but the result will make a difference on your balance sheet and tax statements.

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Taking the Suspense Out of a Suspension of Work
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On almost every project, large or small, there will be minor stoppages of all or part of the work. Many of these predictable delays are not significant enough to support a delay claim. For example, you have to shift your crews one day to accommodate the mason.

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Leaving the Laptop at the Office
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Technology is bounding forward in the wireless world and almost every electrical contractor carries one of a variety of cell phones or Internet-related phones, pocket PCs or personal digital assistants (PDAs).

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From Swordfish to Motor Saws
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I still remember the bewildered look on my nephew’s face after watching an episode of “The Flintstones.” Fred had been working at his quarry in Bedrock and sawing off a giant piece of stone with a live swordfish.

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Dirty Little Secrets
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Some of this column’s readers have sent comments and questions, and one of those prompts this month’s column regarding the earthwork on a project.

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Managing Lease Agreements
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Electrical contractors can obtain needed equipment by purchasing it, leasing it or renting it. Electrical contractors use each of these three equipment acquisition methods every day and each method has its advantages and disadvantages.

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Time Is Money
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Customers are placing a higher priority on time than money, and it seems that nearly all projects are now “fast track.” Managing money is easier than managing time, and every electrical contracting company struggles with waste, inaccurate records, or even time theft.

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