Read this article about Plumber's Success International and it will give you a very good idea of what ESI is really all about. I'm confident that ESI can help improve your bottom line, but you should know where their priorities lie. http://www.pmmag.com/CDA/ArticleInformation/features/BNP__Features__Item/0,2379,4212,00.html
Power to the people
Re: Electricians Success International#157096 08/21/0510:33 AM08/21/0510:33 AM
Thanks Pat. That was very interesting reading. I especially like the part where it highlights the $40,000 investment (over 3 years).
Wouldn't it be nice to have 100 companies join YOUR club at $40,000 each. I guess with $4 million you could have several business experts on staff. There are a few of these types of organizations around. I think ABC is another (Associated Builders and Contractors, Inc.).
I'd make the decision if I could get information and make a rational decision without attending the weekend "Revival".
Remember that there is a wealth of business information available on the internet and at the library. You can also get quite a few hours of professional advice for $40,000.
One of the first things to improve your business is to track your expenses and hours invoiced. Take that to your accountant to figure your overhead and what your rates should be. I recently had an hour meeting with my accountant. The fee was $175.
The IEC (Independent Electrical Contractors) provides an apprentiship program and lobbying efforts I believe. They also offer many seminars on various aspects of running an electrical contracting company.
As for ESI, the $40,000 per company is small potatoes compared to the payday they are really planning. They will offer to take over the best and most profitable companies in each area and pay them with stock options (no money out of their pockets)-----combine these profitable clones under one umbrella company and present it to Wallstreet. Instant multi- millionaires made during the IPO.
Now that is interesting!
Power to the people
Re: Electricians Success International#157099 08/22/0507:51 AM08/22/0507:51 AM
This past Memorial Day I had a lengthy conversation with a medium sized EC (Approx. 15 employees and six trucks). He's a member of ABC and talked at length about how it helped him and also about the training which he took part in. I was impressed that he recommended it without being part of the evangelist/sales team. He said there were some parts of the program that he hadn't yet implimented.
The part that made the most sense to me about it was that he had builders send plans that were sized to his size company. He even had a larger EC throw him a job that they didn't want to do. I don't know if ESI is set up with generals like that. He didn't mention anything about lobbying, and may not have known about it.
As for me with 2 in college, $40,000 is tuition money, not the business-improvement-membership-fund.
Re: Electricians Success International#157101 08/23/0506:34 AM08/23/0506:34 AM
ESI is definately not set up with the generals like that. Their main focus is going direct to the customer for service work. No waiting on your money---you walk out the door with a check or credit card after each job.
If they can help you turn that $40,000 into an extra $150,000 in net profit per year, plus raising the value of your now successful business by a $100,000+,it might be worth the investment.
Power to the people
Re: Electricians Success International#157102 08/23/0507:38 AM08/23/0507:38 AM
I had looked into ESI, also and felt that the investment of traveling to a meeting and dues was more than we wanted to commit. However, I did appreciate the article Patrick Kennedy (Mr. Sparky of Atlanta)has on the ESI site that points out advantages of residential work. http://www.electricianssuccess.com/focus.aspx
If you want to grow bigger than a few trucks (not our goal at the moment) it could be worth joining, although it seems to lean towards a franchise kind of operation and perhaps not a good fit if one wants to remain totally autonomous.
I found this article dated 2004 that gives the names of companies that have joined ESI. They might be a source of info if anyone is really interested in how ESI works. But, maybe not! You can't access the Member Successes section on the ESI site without being a member, and the only quotes are from members who have just joined.