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Business Articles #154792 11/17/04 08:53 PM
Joined: Jul 2004
Posts: 272
A
A-Line Offline OP
Member
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 09:54 PM
Joined: Mar 2004
Posts: 46
A
andyp95 Offline
Member
good stuff.thanks for the link.

Re: Business Articles #154794 11/17/04 11:49 PM
Joined: May 2004
Posts: 697
D
Dave55 Offline
Member
Thanks, A-Line. A very good business site.

Dave

Re: Business Articles #154795 11/18/04 08:23 PM
Joined: Feb 2003
Posts: 687
A
Active 1 Offline
Member
Thanks

Re: Business Articles #154796 11/28/04 12:37 PM
Joined: Apr 2002
Posts: 156
K
kinetic Offline
Member
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 11:34 AM
Joined: Jul 2004
Posts: 272
A
A-Line Offline OP
Member
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 07:30 PM
Joined: Feb 2003
Posts: 687
A
Active 1 Offline
Member
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 10:07 PM
Joined: Apr 2002
Posts: 914
E
Electric Eagle Offline
Member
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 10:45 AM
Joined: Jul 2004
Posts: 272
A
A-Line Offline OP
Member
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 12:14 AM
Joined: Oct 2000
Posts: 3,964
Happy Birthday Bill Addiss Offline
Member
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


Bill
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