Can You Guess How Much I Made?

Рет қаралды 1,461

2 ай бұрын

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In this honest and reflective video, I delve into the financial challenges and setbacks I encountered as an electrician while working on multiple jobs. Join me as I share valuable insights into the mistakes, missteps, and unexpected expenses that contributed to financial losses in my electrical business.
In this video, I'll cover:
Identifying Costly Mistakes: I'll discuss specific mistakes and decisions that led to financial losses on various electrical projects. From underestimating project complexities to encountering unforeseen issues, I'll highlight the importance of thorough planning and risk assessment.
Unforeseen Expenses: I'll share stories of unexpected expenses that impacted project budgets, such as material price fluctuations, equipment breakdowns, and project delays. These unforeseen costs often contribute to financial losses and disrupt project timelines.
Client Relations and Payment Issues: I'll address challenges related to client relations, including payment delays, disputes, and non-payment issues. Poor communication and inadequate contract agreements can sometimes lead to financial losses for contractors.
Project Management Lessons: I'll reflect on lessons learned in project management, emphasizing the importance of effective cost control, accurate estimating, and proactive risk management to mitigate financial risks.
Overcoming Adversity: Despite the financial setbacks, I'll share strategies for overcoming adversity and turning challenges into valuable learning experiences. Resilience, adaptability, and a growth mindset are essential traits for navigating the ups and downs of the electrical trade.
Tips for Financial Stability: Based on my experiences, I'll offer practical tips and advice for electricians seeking to improve financial stability and profitability in their businesses. These tips include establishing clear contract terms, maintaining financial reserves, and seeking professional advice when needed.
By sharing my personal experiences and lessons learned from financial losses, I hope to inspire fellow electricians and tradespeople to navigate challenges with resilience and determination. Remember, setbacks are opportunities for growth and improvement.
Join me on this journey as I reflect on the financial realities of working as an electrician and share insights that can help others avoid similar pitfalls. Don't forget to like, share, and subscribe for more candid discussions on the realities of the electrical trade!
#ElectricianLife #FinancialLosses #LessonsLearned #ProjectManagement #ContractorChallenges #BusinessTips #GrowthMindset

Пікірлер: 13

@Nick_Carlos Ай бұрын

Interesting I will always charge labour for faulty materials. May charge the customer a little less as they have had the inconvenience but at the end of the day its not our fault.

@tonywatson1412 Ай бұрын

Stuffing gland , if round grommet..., can be comprimised by earth running in alongside round flex....ip ...does,nt take much / less call backs if quality was better ...on products

@phooogle Ай бұрын

Recover costs from the manufacturer. Trying to charge for warranty repairs or not doing it is a good way to end up in small claims court where you'll lose immediately. Appreciate not your fault but that's what they call a cost of doing business.

@mbelkadi7936 Ай бұрын

Is the dimmer LED driver!! , I am only asking due to noise !!

@MatthewBrayElectrical Ай бұрын

I dont charge for warranty stuff in the first twelve months...its annoying when something fails. I wont fit cheap parts in an attempt to save the client a few quid, as it usually ends up costing me in the long run. Also...if you know you do an average of 1x day per month fixing warranty issues, spread the cost of that one day over all your jobs for the month. Might work out you need to add on £2/hr to your rate, but at least then you know youre getting paid when youre not...👍

@jameschappell1526 Ай бұрын

That dimmer looks like minimum load 80w when you turned it over, probably the issue

@ms.electrical Ай бұрын

I try not to fit any integral led fittings if I can customers can change a bulb ect themselves saves some call backs if one becomes faulty or worst case if it does get the wholesalers to deliver them a replacement- saves you fuel/time doing it , check brand warranty some inc on site guarantee so its fit and forget any faulty products they have to send their own team out to sort … if you find a good flood light tho let me know yet to fit one of them that lasts a winter without a call back they all seem to be pants

@davidwhitefoot5680 Ай бұрын

good advise - I stick to GU10 cans. try Collingwood floods