What would be your top five tips! - Electrician Talk - Professional Electrical Contractors Forum

Paelectrican · 11-06-2009, 05:14 PM

About to look at starting my own two man operation shortly near Pittsburgh,Pa. I am wondering what would be your top five tips for someone in my position?

480sparky · 11-06-2009, 05:16 PM

Have market research done.
Have a business plan.
Have a lawyer.
Have an accountant.
Have lots of cash.

NolaTigaBait · 11-06-2009, 05:17 PM

What 480 said....also, you can't make money working for poor people

BuzzKill · 11-06-2009, 06:16 PM

don't do charity work, unless it's actually a legitimate charity, like through your church or something, then do that, definately for the tax write off. Make sure your accountant is agressive, tax wise, but don't hire no hack either. Have lots and lots of cash for the slow times; there will be slow times, especially just starting out. Make sure you have some contacts in the construction and real estate buisness, people that know you are an electrician and you are going solo. Hand out business cards like crazy, not just one but 4 and 5 at a time.

MF Dagger · 11-06-2009, 06:25 PM

"free" safety checks. This allows you to point out the old smoke detectors (or lack thereof), the spots that could use new receptacles or GFCI protection, upsell everything you can. It's pretty easy to sell an extra 40 dollars on every service call and put the idea in heads of everything else that you can do for them.

MF Dagger · 11-06-2009, 06:26 PM

Tip number 2 from me would be make it a one man operation. But that's just me, I like my opinion to be the only one that matters.

Paelectrican · 11-06-2009, 06:28 PM

I agree, MF dragger. The 2nd man would only be used at times he is needed

rewire · 11-06-2009, 06:32 PM

First ask yourself why you are doing this.Second are you emotionally,physically,financially and most important spiritually ready for what you are about to do. Third is your family prepared.Fourth do you have a goal for yourself.Fifth don't take business advice from people on an internet form as most are not even in business.

BuzzKill · 11-06-2009, 06:44 PM

Quote:

Originally Posted by rewire

Fifth don't take business advice from people on an internet form as most are not even in business.

So where the heck else is he going to ask?
I'm in business for myeslf, 480 is, MFDagger, and Nola are...I suppose you were being fascetious?

BuzzKill · 11-06-2009, 06:47 PM

Quote:

Originally Posted by Paelectrican

I agree, MF dragger. The 2nd man would only be used at times he is needed

Yep one man all the way...don't over-hire, buy new trucks or anything like that; avoid ALL debt if at all possible and build a good cash position; last thing you need is to go under after incurring a mountain of debt.

Paelectrican · 11-06-2009, 07:25 PM

I have always learned you talk to people who are in the business. Some advice may work, some may not. However you listen to it all and try to decipher the good from the bad. Several here operate a business close to what im looking to do, so am willing to listen to all. Thanks for all the advice and look forward to hearing more.

rewire · 11-06-2009, 08:05 PM

Quote:

Originally Posted by BuzzKill

So where the heck else is he going to ask?
I'm in business for myeslf, 480 is, MFDagger, and Nola are...I suppose you were being fascetious?

Well this is the internet were any pasty faced 14 tear old geek with no date on friday can become the master of the universe.The jist is to always remember the advice you get from guys who hand out on an internet forum is comming from guys who hang out on an internet forum.

rewire · 11-06-2009, 08:08 PM

Quote:

Originally Posted by Paelectrican

I have always learned you talk to people who are in the business. Some advice may work, some may not. However you listen to it all and try to decipher the good from the bad. Several here operate a business close to what im looking to do, so am willing to listen to all. Thanks for all the advice and look forward to hearing more.

My first thought is why are you launching your business in the midst of the worst recession in decades.50% of business fail in good times .

Paelectrican · 11-06-2009, 08:11 PM

Quote:

Originally Posted by rewire

My first thought is why are you launching your business in the midst of the worst recession in decades.50% of business fail in good times .

I know what you are saying, however i am going to maintain my current employment during this time also! Which is not in the electrical form. Was just trying to get idea's of some things to consider as i am working on starting this venture.

nolabama · 11-06-2009, 08:18 PM

Quote:

Originally Posted by rewire

My first thought is why are you launching your business in the midst of the worst recession in decades.50% of business fail in good times .

That should motivate you to no end. If you survive your first 5 years the rest should be smooth sailing. (have beuxcoup cash on hand for your first year though)

480sparky · 11-06-2009, 08:19 PM

Quote:

Originally Posted by BuzzKill

So where the heck else is he going to ask?
I'm in business for myeslf, 480 is, MFDagger, and Nola are...I suppose you were being fascetious?

Yea, but we 'don't count' because we are one-man bands.

Quote:

Originally Posted by rewire

Well this is the internet were any pasty faced 14 tear old geek with no date on friday can become the master of the universe.The jist is to always remember the advice you get from guys who hand out on an internet forum is comming from guys who hang out on an internet forum.

You seem to be here a lot. Apparently you are a pasty-faced 14 year old that can't get a date on friday night either.

Oh, wait. Maybe you not 14 years old, but forty.

Never mind. Same thing.

But it seems the rest of us aren't the master of the universe.

Paelectrican · 11-06-2009, 08:21 PM

Quote:

Originally Posted by 480sparky

Yea, but we 'don't count' because we are one-man bands.

Thats why im wanting to hear from you guys! I will be in the same boat

nolabama · 11-06-2009, 08:21 PM

Quote:

Originally Posted by 480sparky

Yea, but we 'don't count' because we are one-man bands.

If you were a God fearing Union shop you would count

480sparky · 11-06-2009, 08:24 PM

Quote:

Originally Posted by Paelectrican

Thats why im wanting to hear from you guys! I will be in the same boat

You mean you want to be a rat?

nitro71 · 11-06-2009, 08:25 PM

I don't have a business yet but an important thing to do is not listen to the naysayers. I'm willing to bet anyone that has a successful business never listened to those that think they will fail or couldn't make it.

I do agree that having the second guy is a mistake this early in the game unless you have work lined up or this is a friend working for you part time.

If you do free safety checks you better be a good salesman or you are going to burn up a lot of gas driving around checking out peoples wiring that don't have any money.