Ecmweb 17849 Service Secrets Talbot Pr
Ecmweb 17849 Service Secrets Talbot Pr
Ecmweb 17849 Service Secrets Talbot Pr
Ecmweb 17849 Service Secrets Talbot Pr
Ecmweb 17849 Service Secrets Talbot Pr

Light Really Does Still Shine in Darkness

May 14, 2019
Four questions to ask if your residential electrical business is struggling

When I was a kid, a family member and I had just returned from a rafting trip that had gone so well we didn’t want it to end. Instead of going home, we found a local spot to dip into. We were stoked to put our raft in the water and float down to Jackson Lake. In our mind, the lake was only five minutes by car, so we estimated it would take half an hour to reach the lake and walk to my brother’s nearby house. We didn’t realize the distance was 14 miles from where we jumped in. Darkness came quickly.

Suddenly, we heard air leaking. The raft began to deflate, and we were unprepared. We made our way to the side of the river and pulled the limp raft onto the bank. By this time, moonlight was all we had to help us see. We walked for hours in the dark and cold. As the night went on, we talked about whether we would reach the lake and, if we survived, how our parents might kill us anyway. 

In the early morning hours, we saw a light. It was the local game warden. He took us to the bridge where we had started our adventure. When we got there, we saw hundreds of people with lights standing on top of the bridge clapping and shouting for our safe return.
Like us that night, many electrical businesses get lost in the dark. It’s hard to know which way to turn or what to do until someone shines a light. Look for the light by asking these questions:

What does our technician and business training currently include?

If you’re part of a franchise system, you may have access to training modules and instructors. If not, investigate what local trade schools and colleges have to offer. 

Are we being proactive or crisis-reactive with our business?

What are your customers saying to you, your technicians, and others? Do you have a reputation management system for both internal complaints and public ones? Do you train your staff with scenarios based on previous customer complaints and service issues? Look at your Net Promoter Score (NPS) to identify ways you can be more proactive. 

Are we properly reporting and analyzing profit & loss (P&L)?

Review your statements. A P&L statement is broadly made up of the total amount of income brought in and accounts for all expenses incurred. The difference between those numbers is your net profit (or loss) in the report period. Expenses on an income statement can generally be broken down into fixed and variable. Knowing your net income is important, not only to evaluate the monthly and quarterly profitability of your company, but also for long-term planning. I recommend using a combination of financial accounting software and an accountant or CPA.

Can we network to find solutions?

Meeting people and getting to know other business owners inherently facilitates the sharing of information. My friend at One Hour Heating and Air Conditioning recently said, “One of the things we appreciate most about being part of the franchise family is being able to network with other business owners in the same industry. Having conversations with people who share so much in common with you is a tremendous asset to business ownership.”    

Talbot is a licensed, master electrician in Georgia, where he was born and raised. He has been in the industry for 17 years and is currently the operations manager for Mister Sparky Atlanta, where he manages a team of technicians. In his spare time, he plays with his kids, volunteers, and is flipping his fourth house. He can be reached at [email protected].

About the Author

Gerald Talbot | Operations Manager

Gerald is a licensed, master electrician in Georgia, where he was born and raised. He has been in the industry for 17 years and is currently the operations manager for Mister Sparky Atlanta, where he manages a team of technicians.

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