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Discussion Starter · #1 ·
What are you doing to continue to keep your labor and material below your break-even costs, and increasing your profits from job to job?

I am constantly looking for a faster way of working - cheaper materials to use - different products that cut down on labor - tools that speed things up. Anything that helps brings faster turn-arounds and quicker payouts....

Get in, Get out, Get paid. Repeat.
 

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Discussion Starter · #2 ·
I must be the only guy here worrying about maximizing profits and minimizing costs..:jester:
 

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Arsholeprentice
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I stay out of construction work, that is how I make profits.:laughing:

There is only so much you personally can do, you need to get the guys doing the work to be on the same page and work together on it. I think as business owners we get our heads up our butts sometimes trying to come up with a better way, when all we need to do is ask the guys doing the work. They likely have the answer, as they are doing it day in and day out.

What's the saying, "Two heads are better than one"
 

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Electron Flow Consultant
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We are do a lot of pre-fab at our shop, utilize apprentices, and use material handlers. That really helps in keeping our labor cost down. Also using innovative tools, such as the Ripley wire stripper, cordless KO sets, carbide chop saws for strut, and mostly cordless tools. Plus we put a lot of effort in working with the supply houses to get low pricing.
 

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Discussion Starter · #7 ·
I maximize profits by raising prices :thumbup:
No argument there. But when you raise you price and then you find a way to get it done even quicker and cheaper than you were before, you've really hit a grand slam.

Trying to get my prices more competitive with the next guy is about as important to me as doing the dishes and laundry :laughing:. Now on the other hand, being faster, cheaper, using more effective methods...these are the key elements I try to focus on to squeeze every last bit of profit out of the jobs I do.
 
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Discussion Starter · #9 ·
I think you may do better with this topic if you narrow it down to a particular aspect of the trade.
Ok. Additions, remodels, and small construction jobs. Residential and commercial.

Jobs where you hit the ground running.
 

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Discussion Starter · #10 ·
In my experience, the overwhelming majority of waste in the trade, both in labor and material, is from lack of planning and forethought. Simply spending some time to build the job completely in your head before you actually do it goes a long way towards cutting down on waste.
I feel like taking my time on the bid, and then turning around and putting the job in fith gear is the way to go. 10 extra minutes of planning can save an hour or more during the installation.
 

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Remember that labor is your biggest ticket.

Get one of these




Add some of these



And these




Until it looks like this




We all pay the same basic price for materials so the money we make is from installing them in a efficient and productive way. ****ing around trying to use the wrong parts and tools is not productive.



10 extra minutes of planning can save an hour or more during the installation.
Oh hell yes. I try to go through the steps in my head but it always helps to bring a pile of stuff with you because things change in an instant.
 

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Also, knowing the NEC and taking full advantage of minimums (aka The Shockdoc Method) is also very useful. The vast majority of electrical work that I see it completely unnecessary overkill.
 

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Discussion Starter · #13 ·
The shockdoc method is truly the best definition of what turns a good job into great job.

Any unnecessary costs need to be avoided. Any unnecessary actions need to be minimized. Putting your jobs on a system where they are running full speed like a well-oiled machine, and then charging the absolute top dollar that you can get for them. This stuff challenges me each day to find the most effective methods and capitalize on them.
 

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Also, knowing the NEC and taking full advantage of minimums (aka The Shockdoc Method) is also very useful. The vast majority of electrical work that I see it completely unnecessary overkill.
Really? What kind of installations are you usually seeing? Could you site a couple of examples?
 

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RIP 1959-2015
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What are you doing to continue to keep your labor and material below your break-even costs, and increasing your profits from job to job?

I am constantly looking for a faster way of working - cheaper materials to use - different products that cut down on labor - tools that speed things up. Anything that helps brings faster turn-arounds and quicker payouts....

Get in, Get out, Get paid. Repeat.
Fast = less man hours for the next bid if you're working for a GC They learn fast

cheaper materials to use=poor quality,call backs and will give you a bad name.

Fast 2=pissed off unhappy employees who are constantly under the gun,it gets to the point that They're fear being fired for taking a dump!


Want to make real money?

Learn how to sell the top of the line product and give your men the time it takes to deliver the best quality finished product.

As you get older you will appreciate this because you will be fat and slow some day...:laughing:
 

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I make all the electrons line up for their Flu shots
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I tell my customers I can get the wire into their house faster than anybody else. The ones that buy into it , I just throw a few rolls thru the front window, and then collect my check.
 

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Arsholeprentice
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I remember being an apprentice and the owners coming around all the time wanting to know what was taking so long. The guys all challenged them to race. At the end of the two projects, the owners finally saw the inefficiencies they were creating. The problem was not the employees, but what was given the employees; lack of leadership, training in new methods, the right materials on the jobs at the right times, and a good set of prints.

Now the shoe is on the other foot. We try to look at our jobs and see what we can do better and how to do it. Sometimes it is just as simple as actually communicating, not assuming someone knows.
 

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Estwing magic
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Make sure all the material is on site ready to go, all the tools are there, all the extras like drill bits, etc. are there, and that drawings are up to date and good to go.
 

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Price all material purchases between 3-4 supply houses for lowest cost and lock costs if possible.Negotiate all quoted items with suppliers (never seen one who would not give up at least a point or 2) and vendors.

Take advantage of all discounts (I have loaned company $ to save 2% on $80,000) in a month.

Set up standard installation methods that go from project to project.The more my guys do something the quicker they get and less warranty issue.
 
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