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How to Start a Electrical Business | Free Book PDF Download

Starting a Electrical Business

 

How to Start an Electrical Business - Free Book


Are you considering starting an Electrical Business? if yes, you'll find this free book to be extremely helpful.

This is a practical guide that will walk you step by step through all the essentials of starting your business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

The Single Most Important Ingredient for Business Success

The first and most important thing you need to acquire in order to succeed in a small business is... knowledge.

Sounds exaggerated? Listen to this...

According to research conducted by Dun & Bradstreet, 90% of all small business failures can be traced to poor management resulting from lack of knowledge.

This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.

Conclusion: if you are really serious about succeeding in a business... If you want to avoid the common traps and mistakes... it is absolutely imperative that you acquire the right knowledge.

"Why Invent Mediocrity, When You Can Copy Genius?"

That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate it. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?

[ Note: One of the BIGGEST mistakes almost all new businesses make is that they WASTE tons of valuable time, energy and money on trying to create something "new", that has never been tested or proven... only to find out later that it was a total loss. Don't make the same mistake! ]

Hi! My name is Meir. I'm the founder and president of BizMove.com, a successful Internet based information business. I'm also the author of numerous books, mostly in the area of small business management.

I've been involved in small business for the past 31 years of my life, as a business coach, manager of a Electrical firm, a seminar leader and as the owner of five successful businesses.

During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of.
You see, I have been there .... done it ... and bought the Small Business t-shirt! -- This free book contains techniques and strategies I've learned during my 31 year small business career.

Here's what you'll discover in the 'How to Start a Electrical Business' book:

How to determine the feasibility of your business idea - a complete fill in the blanks template system that will help you predict problems before they happen and keep you from losing your shirt on dog business ideas.

A detailed manual that will walk you step by step through all the essential phases of starting your business

A complete business plan template. This fill-in-the-blanks template includes every section of your business plan, including Executive Summary, Objectives, SWOT Analysis, Marketing Analysis and Strategy, Operations Plan, Financial Projections and more (a similar template is sold elsewhere for $69.95).

All this and much much more.

Success Tip: Setting Goals

Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.

Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.

Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.

Click here! to download your book for free (PDF version)

Here're other free books in the "how to start a business" series that may interest you:

Agriculture Assisted living Auto repair Bakery Bar Beauty salon Bed and breakfast Bookkeeping Boutique Bowling alley Carpet cleaning Car wash Catering Cattle farming Charity Cleaning Coffee shop Computer repair Construction Consulting Convenience-store Cupcake Daycare Dental Dog daycare Ecommerce Electrical Embroidery Engineering Farm Fashion Film Financial advisor Fitness center Flower-shop Food Food truck Franchise Frozen yogurt Furniture store Gas station Goat farming Grocery store Gym Hairdressing Hair salon Ice cream Insurance agency Interior design Internet Internet cafe IT Jewelry Landscaping Laundromat Laundry Law firm Magazine Manufacturing Microbrewery Motel-hotel Music Nightclub Nonprofit Nursery Online-retail Photography Pizza Plumbing Poultry farming Preschool Printing Private investigator Pub Real-estate Resort Restaurant Retail School Security company Service Software Spa Sports-bar Startup Supermarket Travel agency Trucking Vegetable-farming Website

Here's a Sample 'Executive Summary' for a Electrical Business plan:

COMPANY NAME
ADDRESS
CITY, STATE, ZIP CODE
Tel. 
Fax:
Email:

COMPANY NAME is an Electrical Sub-Contractor, primarily doing commercial, industrial, medical
and residential. COMPANY NAME offers value engineering for energy evaluation & efficiency.
The purpose of the company's plan is to grow in the fields mentioned above as well as branch
out into Nevada, Arizona & New Mexico. COMPANY NAME also wants to further the
company's market share in the solar/energy and the service industry.

1.1 Objectives

1. To fund growth of existing business & increase market share of our service business
2. Expand into the field of energy/solar
3. With additional capital the ability to bid larger projects.

1.2 Mission

COMPANY NAME's sole purpose is to establish a profitable and well managed company while at the same time designing to please the local residents with excellent service in California.  COMPANY NAME’s near future plans are to grow the company's electrical contracting business in California and other states such as Nevada, Arizona and New Mexico.  The company will seek to provide these services in the timeliest manner and with an ongoing comprehensive quality control program to provide 100% customer satisfaction.

1.3 Keys to Success

1.  Servicing and maintaining our existing client base
2.  Having employees that understand and implement our high standards
3.  Reliability and communication with clients from beginning of each job to end.

COMPANY NAME is in the city of Orange and has been in the county of Orange since 1994, servicing Los Angeles, Riverside, San Bernardino and San Diego counties. We provide electrical contracting services to a wide range of clients, including owners and general contractors, mainly in the medical field. COMPANY NAME's current corporate office is at [INSERT ADDRESS].   The company's corporate office is a 4,650 sq ft concrete tilt up building. This corporate office houses all administrative operations, with warehouse space used for inventory and service vehicles. All of the work is done at many off-site locations.

2.1 Company Ownership

COMPANY NAME is a privately held C Corporation where OWNER’S NAME is president & secretary and CO-OWNER’S NAME is Vice President.

2.2 Company History

In 2006 and 2007 COMPANY NAME experienced a decrease in sales due to California budget cuts for the company's voice and data division that had provided services to Employment Development Departments.   The decrease in sales was also due to existing clients who were very slow in paying for services rendered.  COMPANY NAME had also made the decision to focus more on the medical field and their primary client base. The company had cut ties with three general contractors and proceeded to establish new contacts within the medical field.
The year of 2008 was a great year and COMPANY NAME was on track to double sales; however the economy was starting to slow. 2009 was a respectable year, however, again, due to the economy COMPANY NAME re-evaluated again to expand into solar/energy industry.

Table: Past Performance

Past Performance

 

 

 

 

2007

2008

2009

Sales

$987,783

$1,508,165

$1,070,965

Gross Margin

($85,875)

$49,936

$11,341

Gross Margin %

-8.69%

3.31%

1.06%

Operating Expenses

$95,468

$109,532

$72,754

 

 

 

 

Balance Sheet

 

 

 

 

2007

2008

2009

 

 

 

 

Current Assets

 

 

 

Cash

$0

$0

$146,468

Other Current Assets

$2,861

$10,861

$233,726

Total Current Assets

$2,861

$10,861

$380,194

 

 

 

 

Long-term Assets

 

 

 

Long-term Assets

$52,448

$36,941

$22,597

Accumulated Depreciation

$112,713

$133,620

$149,039

Total Long-term Assets

($60,265)

($96,679)

($126,442)

 

 

 

 

Total Assets

($57,404)

($85,818)

$253,752

 

 

 

 

Current Liabilities

 

 

 

Current Borrowing

$0

$0

$0

Other Current Liabilities (interest free)

$103,222

$142,045

$180,228

Total Current Liabilities

$103,222

$142,045

$180,228

 

 

 

 

Long-term Liabilities

$59,732

$41,296

$23,395

Total Liabilities

$162,954

$183,341

$203,623

 

 

 

 

Paid-in Capital

$60,743

$60,743

$41,849

Retained Earnings

($227,917)

($240,778)

$86,063

Earnings

($53,184)

($89,124)

($77,783)

Total Capital

($220,358)

($269,159)

$50,129

 

 

 

 

Total Capital and Liabilities

($57,404)

($85,818)

$253,752


3.0 Services

COMPANY NAME's products are:
1) Design build which is based on a per square foot price.
2) Contract work which is specific to a certain set of blueprints/drawings.
3) Service work that is based on an hourly rate.

COMPANY NAME will focus on four main markets within the industry such as:
MEDICAL
This field is a viable source of business now and due to ever changing technology a great source of future business that will sustain us long term.
SERVICE
There will always be a need for service and this is an area that we have never taped into and believe there is great potential.
COMMERCIAL/INDUSTRIAL
This has been the company's main focus; COMPANY NAME has built great long term relationships with building owners who now look for our guidance in directing their energy improvements.
SOLAR/ENERGY
We feel we always need to look at new trends and stay ahead of change in our approach to long term sustainability.

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