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Wired for Profit

38 members • Free

5 contributions to Wired for Profit
Profit and Loss Simple
This is just a little run down of how I look at P and L! Let me know your thoughts
1 like • 9d
Love this breakdown! For us the biggest challenge has been tracking COGS. We don’t usually order material job specific. We draw from a broader stock we have on trucks and at our shop. So without an inventory system it makes it hard. We could apply the per unit price to everything but it’s a lot of manual math.
0 likes • 5d
@Tim Brauer We don’t have an inventory system in place. We do order job specific for certain kinds of projects. But we buy wire by the spool, or boxes of connectors, breakers and whatnot. Those are the things that become harder to track.
Software
Every time I try to look at reviews of software, I'm just being marketed to. Difficult to get good data about which CRMs and apps work well. What apps or CRMs do you use for your business? Especially free apps that work well for communication with the crew, sharing docs and drawings, daily logs, etc.
Software
1 like • 8d
We use Quickbooks, Gohigh level, and a lot of Google applications. Been kicking around using a CRM for a while. Jobber didn’t work for us so I’ve looked into service titan but it’s so expensive.
0 likes • 5d
@Tod Craig We’re mostly residential! I really want to get into commercial though.
Lowballing Jobs
Be careful not to lowball your way into work! I agree with Igor that you can’t be picky starting out, but make sure you don’t give away your time for free either! Thoughts? @Igor Zhogan
Lowballing Jobs
1 like • 9d
How do you toe the line between staying busy and pricing? Meaning if the schedule is looking lighter, would you lower price? My approach has been that working and staying busy is still better at a lower profit margin than being out of work. Also during busy times we raise our prices to manage the demand.
What do you want to learn about?
Let’s get some discussion going! Put your thoughts in the comments and we will get this party started!
What do you want to learn about?
2 likes • 16d
Commercial jobs. Where to get them, how to bid them, things to be aware of. Structure/ org chart: when to hire PMs How to get more work without getting pulled out of the office and back into the field
2 likes • 16d
@Eric Ravak I think I could definitely share on retaining and rewarding employees. I think it’s one of the things we’re most successful at! I’d love to share some of our ideas if you’re interested.
My introduction
My name is Bailey Stotts as you guys can see. I actually have a lot in common with Tod! Maybe slightly different timeline. My pops has run an electrical contracting company for the last 20 years and has always been more of an owner operator guy. Never wanted more than a couple of employee employees and has done very well for himself. I always wanted to run a really big business and so I tried plenty of other things thinking that running an electrical contracting company wasn’t a big enough dream for me. But after trying a bunch of different things in my early 20s I decided that the thing I actually love the most was running my family’s electrical contracting company. Since then, I’ve taken over the reigns a little bit. I actually work with both of my brothers as well. We’re really hoping to make our company grow. Until now we’ve done a lot of residential stuff but the last year or so we’ve been able to land a lot more commercial and agricultural projects which have been very cool. I’m joining this community, hoping to be able to provide whatever value I can but also to hopefully get some insight into things like, generating consistent workflow, hiring electricians and finances. I’m on Instagram as well I post quite a bit about what we do! I’d love to connect.
1 like • 16d
@Tim Brauer we are in central ca! Fresno area. How about you?
0 likes • 16d
@Tod Craig That’s awesome man! Even more similarities lol. We’re at 3 ish million too and been a pretty good sticking point.
1-5 of 5
Bailey Stotts
2
9points to level up
@bailey-stotts-3317
I’m an electrician in California! I run an electrical contracting company doing residential service & repair as well as light ag & commercial.

Active 5d ago
Joined Apr 22, 2026
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