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Wired for Profit
38 members • Free
14 contributions to Wired for Profit
10d •
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.
0 likes • 8d
@Tod Craig we do commercial and industrial and it's both new construction and service. I have built my own tools using Monday.com for project management, field coordination and information sharing, scheduling, cost tracking and projection, timekeeping, rate calculation, and I'm about to create another for sales. It works well but it takes time to build the product to suit your needs.
10d •
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 • 10d
I look at my P&L weekly! I like hearing how other electricians like to think about it. Thanks Tod
1 like • 8d
@Tod Craig ensuring transactions are correctly logged in the Chart of Accounts so they show up where they should. Shoot for 50% GP and 30% net. Track overhead percentage.
10d •
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
4 likes • 10d
Couple of things I have learned: Never pay attention to your emotions when bidding. You'll talk yourself into lowering your price every time. Most customers don't care about price as much as you think. We aren't car dealers with salesmen on every corner. It's way more important to avoid the one bad job than to get all the good jobs.
12d •
Everything to consider when starting and electrical contracting business
Happy Monday everyone! I hope you all had a good weekend. For this week let's keep a discussion going about a specific topic! Topic for this week : Everything to consider when starting and electrical contracting business For this discussion let's talk about EVERYTHING under the sun that you considered or wish you considered when starting a business. If you haven't started a business yet, what practices have you seen in the company you work for that you WOULD or WOULD NOT implement in your own business. Any thoughts, any ideas. It's all welcome. Feel free to write your own post in this thread on this topic! If you want to record yourself and post a video, that's fine too! Let's have a good week everyone!
1 like • 10d
@Tim Brauer - @Tod Craig has it exactly right. If the pool of savings I'm returning to crew is $100, and you had 20 hours of time charged to that 1000 hour job, you would get $2. I'm definitely not saying it's perfect, and I do think a quarterly profit sharing formula would be less administrative time, but I also want the reward as close to the positive behavior as possible.
1 like • 10d
@Tim Brauer good question, safety and quality are non-negotiable to be eligible for the bonus
11d •
One of my considerations!
Here is one of the big things I would consider when thinking about about an electrical business!
2 likes • 11d
@Tod Craig this is the #1 thing I see. If anyone in here gets the chance, as I did, to be a manager or superintendent at their current company where they get to see the books, take that opportunity because you'll learn at least a portion of this.
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@eric-ravak-8308
Ravak Electrical - Ohio Licensed Electrical Contractor
Eastern OH - Industrial & Commercial
Active 3d ago
Joined Apr 23, 2026
Cambridge OH
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