i always wanted to own an electrical company. i studied hard and passed the exam last month. i filed an article with my state and got liability insu. Now i am stuck i don't know how to find job or what is next to do. understand, i am new i need all the advice i can get. by the way, i am currently working for the same company i been working for 6 years. please help me out.
help i need some advice
- Thread starter jakobit
- Start date
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Power Tech
Senior Member
- Location
- Lebec, California
Do you have business cards?
Liability insurance, 1 mil to walk on a commercial job.
Truck or hatch back, tools?
If you are ready to hit the ground running..
Call the local GC's. Let everyone know your around. Bid jobs. Do service work.
Contact the corporations VP's in the area. Store chains etc..
One thing for sure, you have to take action.
Liability insurance, 1 mil to walk on a commercial job.
Truck or hatch back, tools?
If you are ready to hit the ground running..
Call the local GC's. Let everyone know your around. Bid jobs. Do service work.
Contact the corporations VP's in the area. Store chains etc..
One thing for sure, you have to take action.
I takes some time and a good bit of money to start an electrical business, and a lot of good luck, on average about 1 out of 9 start up's make it bast the 5 year mark many fail before the first year, so hang on to the job you have now, and but away a nest egg to start with some money for the lean times, of which there will be many.
You will plenty of advice on here, some good and some not so good, in the end you will have to make the decision to jump. Good Luck
zog
Senior Member
- Location
- Charlotte, NC
Other members will tear me up for saying this but write a mission statement. What are you going to strive for? Are you going to find a niche (You should)? What sets you apart from the other guy that already has your prospective customer as a current customer? Remmember, everyone, yes everyone, knows an electrician, and for you to become the person they call you need to have either been thier first (Too late for that), or be something special.
If your goal is only to "own an electrical company" you are doomed.
After you complete step one, then start laying out a business plan. What is your marketing plan/budget? Those types of things.
If your goal is only to "own an electrical company" you are doomed.
After you complete step one, then start laying out a business plan. What is your marketing plan/budget? Those types of things.
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bradleyelectric
Senior Member
- Location
- forest hill, md
Pierre C Belarge
Senior Member
- Location
- Westchester County, New York
Why don't you speak to your present employer? It sounds like he may be successful. He should be able to give you some advice.
cadpoint
Senior Member
- Location
- Durham, NC
growler
Senior Member
- Location
- Atlanta,GA
That's pretty good advice right there. The worst time to be promoted to captian is when the ship is already sinking.
iMuse97
Senior Member
- Location
- Chicagoland
ZOG and Cadpoint are right. The local office of the SBA would be an invaluable source for planning, determining costs & overhead, marketing, etc.--all things you need to have in place as you start a business. Many people want to be a contractor or electrical service company owner, but few actually make it, because of poor planning, or not knowing what they need to plan for. Just hanging out the shingle in this economic environment will not cut it.
ptonsparky
Tom
- Occupation
- EC - retired
I hit the gound running 30 years ago and stumbled around for about 20 of them. Take the advice, make a plan, ask/pay for help from accountants and lawyers. Have fun and don't forget to take the kids on vacation because they will remember that more than the service calls you did at Walmart.
ptonsparky
Tom
- Occupation
- EC - retired
Oohh yea, I forgot the most important...make sure the significant has a decent job with full insurance.
Bobhook149
Senior Member
Become very social. Involve yourself in town or city events. Meet people...let them know what you do and sell sell sell:grin:
Dolfan
Senior Member
Why are you so negative Sparky?
GUNNING
Senior Member
- Location
- Gainesville, Florida
#1 get a rabbits foot. #2 rub it all the time
#1 get a rabbits foot. #2 rub it all the time
yup .. you are doomed.
If you have to ask you are in trouble already. Get some books, look around make some goals, write down a plan.
One of the biggest mistakes I have seen is getting too big too fast. Some people I know would grab everything they see no matter the price and get er done. Buy bigger trucks to make it up on volume. Loose everything , I mean everything, in about a year and a half.
I have three things on my white board. I have had them there for 15 years. Go where the money is, complete projects, NO RESTAURANTS, and be reliable.
Return phone calls get a schedule book and keep those appointments (learn how to schedule). Learn how to write (communicate). And read everything. Join small business groups, everyone there has run into something you are having problems with and are good networking places. (means job opportunities) Eventually you will find a mentor (the guy you work for now) and you will find out what it means to be in business.
Good luck.
There are franchises out there. They cost alot but are turn key operations. It might give you a leg up to start out and you might end up learning what you need to know though them. Its costly but effective cause they have done it before. Just looking into it is a good addition to you knowledge base.
#1 get a rabbits foot. #2 rub it all the time
yup .. you are doomed.
If you have to ask you are in trouble already. Get some books, look around make some goals, write down a plan.
One of the biggest mistakes I have seen is getting too big too fast. Some people I know would grab everything they see no matter the price and get er done. Buy bigger trucks to make it up on volume. Loose everything , I mean everything, in about a year and a half.
I have three things on my white board. I have had them there for 15 years. Go where the money is, complete projects, NO RESTAURANTS, and be reliable.
Return phone calls get a schedule book and keep those appointments (learn how to schedule). Learn how to write (communicate). And read everything. Join small business groups, everyone there has run into something you are having problems with and are good networking places. (means job opportunities) Eventually you will find a mentor (the guy you work for now) and you will find out what it means to be in business.
Good luck.
There are franchises out there. They cost alot but are turn key operations. It might give you a leg up to start out and you might end up learning what you need to know though them. Its costly but effective cause they have done it before. Just looking into it is a good addition to you knowledge base.
Who says I'm negative? I'm actually being positive.
Having all those things I listed does not guarantee success. NOT having them seals your fate.
If you fail to plan, you plan to fail.
Volta
Senior Member
- Location
- Columbus, Ohio
Very good advice.
Pierre C Belarge
Senior Member
- Location
- Westchester County, New York
quogueelectric
Senior Member
- Location
- new york
I am not the greatest with math...
That was just sooooooooooooo wrong Pierre.....
quogueelectric
Senior Member
- Location
- new york
My advice is simple get rid of bad customers. If they are a problem for you they are a problem for everyone. They just drag you down when there are so many good customers out there. Cut them loose and wish them luck right away. Then they can pester your competition.
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