HOW TO DEVELOP A SERVICE BUSINESS READY FOR THE ELECTRIFICATION OF EVERYTHING
As the world moves into the era of the electrification of everything, this video captures an information-laden but comfortably-paced conversation among a focus group of six electrical contracting veterans who collectively have devoted much of their careers to the service & maintenance segment of the electrical contracting industry. In the discussion, they share the benefit of their individual experiences on how to develop a service business in the new era of the electrification of everything.
The presentation begins with the reminder that the word develop can pertain either to starting a new business or to growing one. So, the video offers great takeaways for everyone intent upon producing new revenues and profits in service & maintenance in this new era.
Going forward, the electrification of everything will offer unprecedented opportunities to electrical contractors. By and large, opportunities will involve upgrades and conversions of existing electrical systems — “after-market activities”— that most companies will depend upon their service & maintenance organizations to pursue.
As pointed out in the video, an electrical contracting firm that performs both new construction and service-related activities has one company but two businesses. The focus group emphasizes that the new construction and service-related entities can enjoy the greatest possible success by learning to lean on each other for new sales opportunities. Essentially, they can create a built-in competitive advantage through which the service & maintenance and new construction teams can feed new work back and forth to each other.
The focus group offers a number of takeaways that most contractors can immediately adopt for the benefit of their service & maintenance units. Watch the video and soon there will be a short companion booklet to learn more.