ECN Electrical Forum - Discussion Forums for Electricians, Inspectors and Related Professionals

Topic Options
Rate This Topic
#165631 - 07/01/07 06:58 PM The Ten Commandments of Business
bot540 Offline
Member
Registered: 09/14/04
Posts: 174
Loc: Vernon Hills, IL
I've been in business for almost 2 years now and have learned alot. I was thinking of compling a list of the top 10 to or not to do list in a business sense and wanted some input from my more experienced colleague's. one of mine would be:
Never become greedy, as I have seen it destroy more than one employer
_________________________
Jesus may have been a capenter,but God was an electrician.Genesis1:3
Top
Business, Office, Estimating, Legal:
#165649 - 07/02/07 06:22 AM Re: The Ten Commandments of Business [Re: bot540]
ITO Offline
Member
Registered: 11/26/06
Posts: 348
Loc: Texas
1) Keep your mouth shut, the less you say about your business to your employees, clients and supply houses, the less they have to spread around and distort.
(I have a big mouth and one of the ways I keep it shut is to come here and spout off, it gives me that outlet while keeping my business private.)
2) Don’t do work without a contract and clearly defined scope.
3) Read your contract, and be prepared to walk away from the deal if you can not negotiate a deal that will make you money.
4) Work smart and don’t take short cuts that endanger your employees or license.
5) Follow the construction process, do your submittals, RFIs and documentation for every contract job.
6) Always pay your employees and suppliers even if you don’t get paid.
7) Keep your word, don’t comp numbers, and don’t shop your quotes.
8) Make money; never forget that there are people counting on you for their living too. If you don’t make money then you are not doing it right and you will go out of business.
9) Don’t let your insurance lap, and make sure you have enough.
10) Don’t let your lean rights run out.
_________________________
101° Rx = + /_\
Top
#165678 - 07/03/07 04:00 AM Re: The Ten Commandments of Business [Re: bot540]
Niko Offline
Member
Registered: 08/17/06
Posts: 356
Loc: Campbell, CA
1.as you said dont be greedy.
2. don't over promise and under deliver. Always do the reverse
3.never be late, respect the clients time.
4.don't be CHEAP. charge for what you think is fair.
5.always look sharp.
6.don't BS the client, they know when one is BS.
7.as said before, pay your employees, your suppliers then you.
8.make sure you hire good, honest and sharp looking employees.
9.educate yourself on an ongoing bases.
10.don't try to cut corners to get clients it is not worth the money.
11.NETWORK, it is not what you it is who you know. Join a networking organization, volunteer your services, community volunteer work...


Edward.
_________________________
Be kind to your neighbor, he knows where you live

Top
#165679 - 07/03/07 04:05 AM Re: The Ten Commandments of Business [Re: Niko]
macmikeman Offline
Member
Registered: 07/16/02
Posts: 717
Loc: Honolulu, Hawaii
Add this, treat the ladies of the house or business your working in with respect and watch where your eyes go to.
Top
#165681 - 07/03/07 05:21 AM Re: The Ten Commandments of Business [Re: macmikeman]
ghost307 Offline
Member
Registered: 05/09/05
Posts: 900
Loc: Chicago Illinois USA
12. Never lie. You'll be found out eventually and then you're stuck with an angry customer and a bad reputation. Tell the truth even if you have to take some lumps.
_________________________
Ghost307
Top
#165683 - 07/03/07 05:25 AM Re: The Ten Commandments of Business [Re: ghost307]
ITO Offline
Member
Registered: 11/26/06
Posts: 348
Loc: Texas
11) Never trust MS spell checker...

"lien"
_________________________
101° Rx = + /_\
Top
#165688 - 07/03/07 08:02 AM Re: The Ten Commandments of Business [Re: ITO]
ITO Offline
Member
Registered: 11/26/06
Posts: 348
Loc: Texas
12) Guard your tongue and don’t tell or say anything around your bookkeeper that he does not need to know.


Edited by ITO (07/03/07 08:02 AM)
_________________________
101° Rx = + /_\
Top
#165689 - 07/03/07 08:31 AM Re: The Ten Commandments of Business [Re: ITO]
ITO Offline
Member
Registered: 11/26/06
Posts: 348
Loc: Texas
...Make your bookkeeper sign a confidentiality agreement before you hire them.
_________________________
101° Rx = + /_\
Top
#166225 - 07/16/07 05:29 AM Re: The Ten Commandments of Business [Re: ITO]
ITO Offline
Member
Registered: 11/26/06
Posts: 348
Loc: Texas
...oh and do a background check AND credit check before you hire you bookkeeper. Keep a PO box and have all you bills and checks mailed to it, and make sure your bookkeeper does not have a key.
_________________________
101° Rx = + /_\
Top
#166484 - 07/21/07 11:08 PM Re: The Ten Commandments of Business [Re: ITO]
teester Offline
Member
Registered: 07/21/07
Posts: 34
Loc: SC
13. Educate your people
14. Encourage your people
15. Brag on them when they do good, to others also.

And Ditto #10 ITO. I'm getting ready to file a lein on a neighbor of mine/employee of a customer for $600
Top

Member Spotlight
Member Since: 01/22/05
Posts: 5316
New in the Gallery:
SE cable question
Featured:

2017 NEC and Related
2017 NEC
Now Available!

Shout Box


Who's Online
0 registered (), 65 Guests and 12 Spiders online.
Key: Admin, Global Mod, Mod
 
New in the Gallery:
SE cable question
 
Top Posters (30 Days)
Admin 47
HotLine1 43
gfretwell 19
Ruben Rocha 12
Trumpy 9
 
Newest Members
Scotto, Freecrowder, clee512, Jdscott2005, FAIZAN

ECN Electrical Forums - sponsored by Electrical Contractor Network - Electrical and Code Related Discussion for Electrical Contractors, Electricians, Inspectors, Instructors, Engineers and other related Professionals