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Wired for Profit
31 members • Free
11 contributions to Wired for Profit
13h •
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!
2 likes • 7h
Something we're implementing now is giving profit and earned efficiency back to the crew. We recently won a job bid at 206 man-hours and completed it in 144 man-hours. I took 20% of the 62 hours difference and paid it to the crew. I'm also looking at P4P from Mike Andes, and considering doing 10% of all net profit each quarter back to the crew. I don't want them just feeling like they're paid by the hour, I want them to feel like they earn more for themselves when they earn more for the business.
12h •
One of my considerations!
Here is one of the big things I would consider when thinking about about an electrical business!
0 likes • 7h
@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.
3d •
Pro Bono Work
Excited to be a part of getting the lighting replaced and working on this 150' tall cross in our community.
1 like • 2d
@Tim Brauer it's as much or as little as you can do! Local supply house purchases (10) new sports highlighters to shine on this, so I figured we could take care of the rest.
5d •
Electrical Contractor
Im a 37 year electrician. I ran my own company in Illinois for 20 years.I’m currently starting another electrical contracting business here in Southwest Florida.
0 likes • 4d
@Jeff Carter I am looking forward to learning from you!
4d •
Introduction
Hello all, I’ve been an electrician for 5 years now. I started out doing residential for my first 3 years and have been doing commercial now for the last 2. I got my journeyman last May and have been running jobs ever since then. It’s amazing how much more you pick up and learn when it’s finally time for you to be the one in charge! I’ve never been one to post on social media but I find this group to be something I could really get into! I would like to take my contractors by the end of the year and start my own business after I get that. My initial plan is to keep working for my current employer while also having my own business on the side until it starts gaining some traction. I work a 4 day work week schedule right now so ideally I want to keep my full time job Monday-Thursday and then do my own jobs on Fridays. I’m thinking of just starting small and seeing where it goes! Some of my non-work related interests include gardening, working out, watching sports, and reading. I’m a giant nerd at heart despite my blue collar background. Look forward to collaborating with everyone!
2 likes • 4d
That line about how much more you pick up and learn when you're in charge, that's right on the money. The job where I learned the most they had a saying.... "EVERYTHING is your responsibility" and they meant it. Trial by fire is the best education you can get! Humility will be your best attribute for getting through it.
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@eric-ravak-8308
Ravak Electrical - Ohio Licensed Electrical Contractor
Eastern OH - Industrial & Commercial
Active 4h ago
Joined Apr 23, 2026
Cambridge OH
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