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. 

Playing with the big boys


My first exposure to material pricing was in the mid-1970s when I was promoted to pricing clerk/assistant-purchasing agent at a wholesale house. My new desk was dominated by a 4-foot wide, metal-framed collection of pages called the Biddle Book, which was furnished by Trade Service Publications.

The National Electrical Contractors Association (NECA) works daily to ensure electrical contractors (ECs) have every opportunity to stay on top of the issues that affect their businesses and to be directly in touch with their senators and representatives in Congress.


Choosing a trustworthy financial adviser can be confusing and stressful. In last month’s column, we learned that researchers have not been able to find a link between financial literacy education and improved consumer decision-making.

In places such as Arizona, where utilities and the solar industry bicker over pricing and metering policies, everyone suffers. In Los Angeles, where the same policies are embraced, everyone wins as increasingly larger projects come online.


More on Your Business

 
BIM's Future Continues to Look Up

A report published in April by Allied Market Research, titled "World Building Information Modeling (BIM) Market - Opportunities and Forecasts, 2015–2022," forecasts that the world BIM market will generate revenues of $11.7 billion by 2022, representing a compound annual growth rate (CAGR) of 21.6 pe


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Evolutionary, Not Revolutionary

The press has had much to say about the death spirals on the way for the 
electric-utility industry, thanks to the rapid proliferation of rooftop solar panels and other distributed-energy resources.


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Cash Out and Pass the Baton to the Next Generation: Understanding Exit Planning and Succession

In running your electrical contracting business, there is only one guarantee: you eventually will exit—either voluntarily or involuntarily. The day will come when you will have to say goodbye.


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There Is No Equal ... Or Is There?

Let’s say you had a specification that expressly required you to provide a Honda Civic by name but then clearly described a Chevy Blazer. Do you provide the name brand as listed, or do you provide a vehicle that meets the detailed description?


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Finding Success Through Succession

While embraced by Fortune 500 companies, succession planning isn’t often front and center for private and smaller firms. It can be even rarer in the construction trades as daily operations often overtake time for business development.


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Little Giant SafeFrame ladder
Cool Tools: Ladders And Ladder Safety

Ladders have been in use for thousands of years. A quick Google search of “first ladder” returns information about a Mesolithic rock painting at least 10,000 years old, the first historic evidence of a ladder. The image depicts two people using a ladder to reach a wild honeybee nest.


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Bringing Safety To You

As I’ve traveled around the country, I have met countless electrical contractors who perform all kinds of specialized construction work related to the design, installation and maintenance of electrical systems.


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