Electricians - how to turn Fastlane?

[Antliv8]

Hey guys, im in the electricians union in NYC.. any ideas what would be the millionaire fastlane in this type of trade?

would the only answer is to be an owner of the company?

 

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[Empires]

What problems do you see in the electrical industry?

Products that would make the job easier? Safer? Training for electricians? There is a lot more options than just starting an electrician company.

I would recommend reading both Unscripted and The Fastlane Millionaire first if you haven't already. It explains in great detail how to find a good problem to solve to start a successful company. It all comes back to adding value.

 

[Guest-5ty5s4]

Hey guys, im in the electricians union in NYC.. any ideas what would be the millionaire fastlane in this type of trade?

would the only answer is to be an owner of the company?

Oh man, electricians are some of the most common fastlaners I meet in real life.

Start selling your services independently and grow! That’s a perfect industry to be in.

 

[MJ DeMarco]

I'd get out of NYC and start a small business in a mid-sized town, a place where your reputation can grow.

I think the trades (like Electricians) are an undervalued skill that is about to become a lot more in demand.

Simply get someone to answer the phone -- there's 1 SKEW.
Show up on time -- 2 SKEWS.

We haven't even got to pricing yet.

 

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[Johnny boy]

Easy way: hire electricians. You know the skills and can train and recognize others' skills.

Hard way: Use your expertise and knowledge in the field to develop a product or service that is very scalable (such as software for electricians) and sell it with ads.

 

[SEBASTlAN]

Surely there's a device or tool you wish you had but doesn't exist, or is in a rudimentary form right now?

 

[CaptainAmerica]

Do the stuff other electricians don’t want to:
Marketing, scheduling, payment processing, debt collection.

You can be a booking agency! Talk to the licensing board about legalities, but it could work.

 

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[loop101]

Write little web posts that direct people to your business, "Top 10 Ways to child-proof your home's electrical system", "How to find a good electrician in your home town", "How to spot frayed electrical lines", etc. The posts should have the ability to go viral. Maybe be a guest-writer for a local news website in your town.

 

[AndreiR]

Start by asking yourself and others what's missing in your industry. What are people complaining about and where is there a discrepancy between people's problems and the current way that problem is being solved. Then get to work on doing that and be honest about your own strengths and weaknesses - you don't need a co-founder but you also can't do this completely alone.

 

[Isleofbing]

I'm also a Union Electrician done here in Houston, Tx. I agree with MJ and the rest of the guys here trades are about to explode and become very Fastlane. By union standards, I am a 2nd-year apprentice, but because of my prior experience and business aptitude, I outperform my superiors. I don't really have to go looking for jobs they come to me, oftentimes just from talking to people and answering questions.

I struggle personally because the union shop mindset is always about looking busy even if what you're doing is inefficient and not forward-moving, "Just look busy". On union jobs, my hour is valued at $18.00, outside on my own that same hour and expertise nets me $150+. So most days it's hard to stay the course and "look busy" and stay in the slow-lane when I know I can work 1 hour and bring in the same amount on my own as I do by working 8 hours for my union shop.

But I've gone off track here, my advice and what has worked for me is

1.) Be helpful, take your knowledge and skills and help others where you can. After a few years, the wave of referrals will keep you busy, but it takes time to build up that momentum, so start today.

2.)This is a craft, and not everyone can do what we do (Electrical scares people). I even have other contractors come to me to bid repair work because they won't touch their own electrical. I have a group of Journeyman who I have to do the work for me because I am only an Apprentice. (They came to me seeking work). So talk to everyone, make it known you are an electrician.

3.) Always be looking for ways to make your job easier, or a task faster, safer, etc...then build a product and market it to the rest of us. I've worked for lots of Journeymen who will gladly spend a few $100 to make hanging a box easier/ faster. Opportunities are there you have to condition yourself to see them.

Hope this helps, and keep up the good work.

 

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