Electical Contractor

And how you can avoid them

Planning to pass on ownership: The equity in a privately held business is usually the largest asset in the owner’s personal estate, and many owners fail to maintain and update documents that coordinate the business with their personal financial plans; make sure that doesn’t happen to you.

Planning and philosophy: In the first two parts of this series, we looked at the components of profit calculations, including markup and margin, break-even and contribution; no formula or calculation takes the place of strategic thinking, so the underlying foundation for profitable business is the p

Making sense of markup and margin: When you look at your latest income statement, you probably check the bottom line first; for many electrical contractors, the net profit figure is often a surprise.

The man behind the curtain is you

Financial awareness for employees IF YOU THINK THAT IT IS ENOUGH for you and your managers to understand your cost structure and financial statements, then you may want to consider sharing this information with your entire staff.

Ten things you need to know about money

After many months of wrangling, the $70-billion, Tax Increase Prevention and Reconciliation Act of 2006 is now a reality.

Why don’t electrical contractors spend more time reviewing their financial statements? How much time does it really take to do a financial self-examination? Do you have to be an accountant or financial wizard to evaluate the status of your financial health? It might be easier than you think.