Planning for a secure financial future is not easy, particularly in an economy that is faltering and erratic. Traditionally, financial planning has relied on yearly budgets laid out with the use of a spreadsheet-type software program.
ServiceMagic.com released its Home Remodeling and Repair Index for the second quarter of 2009, and the data indicates consumers are still somewhat cautious in home remodeling spending. But confidence is substantially increasing, especially among baby boomers.
In some ways, there is no difference between small and large contractors. Each one earns its own reputation based on its quality of work and customer service. That reputation, in turn, determines today’s success and tomorrow’s viability. And yet there are major differences.
Dealing with developers and building owners, to quote one electrical contractor, has never been a day at the beach. And if they were demanding to begin with, their requirements can be exasperating and exacting in the current economic environment.
Secretary of Commerce Gary Locke, Secretary of Health and Human Services Kathleen Sebelius and Secretary of Homeland Security Janet Napolitano recently announced new guidance for businesses to plan for and respond to the upcoming flu season.
Despite the dire predictions and handwringing surrounding you, it is possible to prosper during tough times. Be aware of the most common events that lead to contractor failures, and you can adjust your business strategy to avoid them. Watch for these warning signs:
These rules are not new but often are forgotten when interacting with customers. They should help establish and main-tain a positive attitude that will be invaluable in maintaining good customer relations. Some are obvious and easy to accept.
It’s no secret that, in difficult economic times, being able to count on repeat business is critical, so having a history with general contractors (GCs) who know your name can be the key to maintaining your own liquidity.
Once a year, every participant in the electrical industry is invited to attend the National Electrical Contractors Association (NECA) Trade Show and other educational offerings that are held in conjunction with NECA’s members-only national convention.
In economic downturns, businesses and individuals tend to renovate existing facilities rather than invest in new construction. That still presents electrical contractors with many opportunities to keep growing, even through hard times.
Hope is not only a noun—something you have (or not). It’s also a verb—something you do (or don’t). I contend that if you don’t do it, you won’t have it. John C. Maxwell, a leadership expert whom I admire, puts it this way: “Where there is no hope in the future, there is no power in the present.”
For electrical service technicians and their firms, it may be time to retire the term “subcontractor.” The label seems ill-suited as electrical contractors (ECs) expand their services to become one-stop shops for owners and general contractors.
The slowing economy may be challenging the construction industry, but technology vendors say they can help electrical contractors ride it out by making their work more efficient, allowing them to accomplish more estimates, spend less staff time looking for documents, and keep up with a world that i
Goldilocks knew how to get it right. She knew too big when she saw it, and she could tell when too small just was not enough. Most importantly, she understood the concept that something could be just right.
The devil, they say, is in the details. The alarm company that pays close attention to this when doing an installation will be asked to return again when there is additional work to be done. This includes routine service as well as additions to the system.
Be your own boss. Own your own business. Control your own destiny. Many people have grown up believing in that American dream, which is undoubtedly part of why there were about 650,000 new small businesses launched in America in 2007, according to the U.S. Small Business Administration (SBA).