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Business Articles #154792
11/17/04 09:53 PM
11/17/04 09:53 PM
A
A-Line  Offline OP
Member
Joined: Jul 2004
Posts: 272
Utah, USA
I thought some of you might be interested in a website that has articles about running a business. http://www.pmmag.com
Click on editorial archives and type in a keyword or title in the search window. Type a keyword such as "profit" or I have listed a few titles below. Good articles to read let me know what you think.

Article Titles:
Yellow pages ads that get results
How much should a new contractor charge?
Our undervalued profession
A dear john letter
I want a breakdown!

These are just a few of hundreds of articles I found to be very informative. This is a plumbing magazine but has lots of good articles about running a business that apply to electrical also. I subscribed to the magazine just for these articles.

[This message has been edited by A-Line (edited 11-17-2004).]

Business, Office, Estimating, Legal:
Re: Business Articles #154793
11/17/04 10:54 PM
11/17/04 10:54 PM
A
andyp95  Offline
Member
Joined: Mar 2004
Posts: 46
Vermont
good stuff.thanks for the link.

Re: Business Articles #154794
11/18/04 12:49 AM
11/18/04 12:49 AM
D
Dave55  Offline
Member
Joined: May 2004
Posts: 697
Crystal Lake, Illinois, USA
Thanks, A-Line. A very good business site.

Dave

Re: Business Articles #154795
11/18/04 09:23 PM
11/18/04 09:23 PM
A
Active 1  Offline
Member
Joined: Feb 2003
Posts: 687
Grayslake IL, USA
Thanks

Re: Business Articles #154796
11/28/04 01:37 PM
11/28/04 01:37 PM
K
kinetic  Offline
Member
Joined: Apr 2002
Posts: 156
Phoenix, Arizona
What other good links do you have hiding in your favorites A-Line? [Linked Image] I just subscibed to the service rountable commanche marketing newsletter. It looks promising and after looking at the this first link I have no doubts it will be packed full of goodies. BTW thank you for both of the links.

Re: Business Articles #154797
11/30/04 12:34 PM
11/30/04 12:34 PM
A
A-Line  Offline OP
Member
Joined: Jul 2004
Posts: 272
Utah, USA
www.electricianboard.com www.youresi.com www.mrhvac.com www.businessknowhow.com www.max-effect.com www.bls.gov www.sba.gov www.serviceroundtable.com

[This message has been edited by A-Line (edited 11-30-2004).]

[This message has been edited by A-Line (edited 11-30-2004).]

Re: Business Articles #154798
11/30/04 08:30 PM
11/30/04 08:30 PM
A
Active 1  Offline
Member
Joined: Feb 2003
Posts: 687
Grayslake IL, USA
What is that Electricians Sucess International (ESI)? I've gotten post cards from them wanting me to join someting that will make me money. I end up tossing them out because it sounds like a scam or franchise offer.

Tom

Re: Business Articles #154799
11/30/04 11:07 PM
11/30/04 11:07 PM
E
Electric Eagle  Offline
Member
Joined: Apr 2002
Posts: 914
Alpharetta, GA
Why is it that there are so many sites and organizations related to plumbing and HVAC specifically designed to increase their profitability, yet so few, if any, for electricians? Perhaps this site could morph into a site like Service Roundtable. But for now we have to read articles written for plumbers and adapt them to our industry.

(Bill and moderators, Please don't take offense. This site is awesome, but it serves a completely different function than the ones discussed above.)

Re: Business Articles #154800
12/01/04 11:45 AM
12/01/04 11:45 AM
A
A-Line  Offline OP
Member
Joined: Jul 2004
Posts: 272
Utah, USA
ESI is an organization similiar to PSI for plumbers. Members of ESI get special rates on software, materials etc. They get help with running their business and making it more profitable. It's a fairly big expense but then so are the yellow pages. The members say it's worth every penny. I am not a member. Some of the members I know of are Rick Bruder of www.bruderelectric.com and Electro Serv www.outtoday.com
There is a lot of discussion about ESI on the electrician board website www.electricianboard.com
I feel that the residential electrical service industry is way behind the Plumbing and HVAC residential service industry. I believe that most electrical contractors avoid residential service because they don't think they can make any money there. The majority charge T&M and this makes it harder to make it profitable. I was charging T&M for service work and no matter how low my hourly rate was it was still to high for most people. Also they still wanted to know the total price before I started. I switched to a flat rate system and doubled my hourly rate and I get more jobs with fewer complaints. My customers are paying more but are happier because they know the exact price before I start the work. You have to find your break even point, add your desired profit to find your hourly rate and you will find that it's more than the going T&M rate in your area. The going rate in my area for T&M ranges between $40.00 to $60.00 Per hour. You can't make any money in the service industry at these rates unless you mark up your materials alot. Then you get complaints about how much you charged for the materials.

Re: Business Articles #154801
12/02/04 01:14 AM
12/02/04 01:14 AM
Bill Addiss  Offline
Member
Joined: Oct 2000
Posts: 3,903
NY, USA
Quote
Why is it that there are so many sites and organizations related to plumbing and HVAC specifically designed to increase their profitability, yet so few, if any, for electricians? Perhaps this site could morph into a site like Service Roundtable. But for now we have to read articles written for plumbers and adapt them to our industry.
Eagle,

Maybe we are headed in a direction to perform some similar services. Always open to suggestions!

[Linked Image]
Bill

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