The terrorist acts of Sept. 11, 2001 created changes in our lives and businesses in ways in which most of us never dreamed possible. One of the most immediate changes in the way in which many do business was the passage of the Patriot Act. The U.S.A.
There’s a well-known joke about money. You might see it as a sign posted in a bar or restaurant: “In God We Trust. Everybody else pays cash.” The first part of that phrase, as we all know, is printed on every U.S. greenback and stamped on every nickel, dime, quarter and penny.
A large part of the nation has been spooked recently by regional energy crises. If necessity is the mother of invention, then perhaps recent price spikes, power outages and fears of terrorism are causing some people to assume more responsibility for their energy needs.
One of the most power-quality aware industries is the financial market, as it is one of the most dependent on the uninterruptible operation of computer and communications technology equipment for their business to generate “positive money.” It is not surprising that many of the members of the 7x24
No one would put their profits on shelves each year to sit and lose value, but that is what many contractors do by ordering and keeping unnecessary inventory. Overordering of inventory costs electrical contractors thousands of dollars a year in lost profits.
Information is power, within reason, so today’s business environment puts a premium on such. We’re told that computers reduce paperwork; more often they increase it. And one of the biggest workplace complaints is the inability to catch up on business reading.
I read an article in the Birmingham Business Journal recently where the control of company inventory was compared to Goldilocks’ evaluation of the three bears’ porridge. If you have too little, your customers will disappear. If you have too much, your profits will vanish.
How does a family business exist? In this world of business conglomerates with clearly defined structures, and multicultural specialty workforces, how can family business survive? In the United States there are 22.4 million businesses and 90 percent are family owned and/or managed.
When Ernie Audet Jr. wants a new piece of equipment quickly, he rents. Audet wastes time and money when he lacks equipment needed for a job. Rental equipment is a $25 billion industry and almost all contractors—large and small—depend on it. Audet’s firm, E. W.
Keeping track of company-owned tools has never been an easy task, even for very small firms. And for large organizations, effectively managing tools is a huge undertaking. “I started with our company as a driver,” said Rob Cherry, president of Osborne Electric in Oklahoma City.
Are you running a sprint or a marathon on the technology track? Do you feel like a hamster on a wheel, trying to evaluate new gadgets and systems? Even electrical contractors aren’t immune to technology headaches, especially when you’re spending all of your time just serving your customers.
Electrical contractors, historically speaking, are not avid fans of sales, marketing and promotion. However, the key word in that sweeping statement is “historically.” Things have changed and so should contractors and their views regarding such business management tools and techniques.
Often times a contracted project takes longer to complete and requires a larger budget than was originally planned. Many factors can be contributed to the increased duration and cost of a project. But who is responsible for such delays?
Just a few years ago, electrical construction consolidators sprang to life in a bizarre manner. Buying companies hand-over-fist and paying way too much, they added debt as if tomorrow would never come. But tomorrow is now here; for the most part, the consolidators are gone.