Joel, I have been doing handyman work for 40 years. I am amazed by your business knowledge and your willingness to share this. I have needed this way to long. I listen and watch your videos often, sometimes several times to enhance my weak points. Please continue to share your time and experiences. I like your new building and work environment. Great job. Ted K
I couldn't help but chuckle at the not pulling permits section. One of the electrical contractors here was notorious for not pulling the permit until after the work was started. This worked fine until the Board of Public Works (city-owned utility) switched to smart meters. Contractor pulls the meter to a service upgrade. BPW's computer system sees the meter has gone offline and alerts the lineman department. Guess who rolls up to investigate an outage but instead finds work being done without a permit.
There are three types of government contracts: cost plus, least cost, and best value. Cost Plus is just guaranteed, but low, profit for the contractor. If doing the job costs $X in materials and hours, then they get paid $X + Y% -- like the GC that charges a flat 20%. Least Cost are the absolute worst. That's just "meet the minimum spec, pick the lowest bidder". This will see corner cutting and quality issues as the contractor is barely able to make a profit. But Best Value are awesome. The gov't doesn't have to pick the lowest bid, they can place value on contractor experience in the job category, experience with that particular (we worked with them before and know their quality), or several other reasons. THESE are the types of contracts you want, because an established relationship and a reputation for top quality work will get you more business and you WON'T have to skimp your bid. That seems exactly like what Joel is talking about -- building best value.
Joel, I have been doing handyman work for 40 years. I am amazed by your business knowledge and your willingness to share this. I have needed this way to long. I listen and watch your videos often, sometimes several times to enhance my weak points. Please continue to share your time and experiences. I like your new building and work environment. Great job. Ted K
I couldn't help but chuckle at the not pulling permits section. One of the electrical contractors here was notorious for not pulling the permit until after the work was started.
This worked fine until the Board of Public Works (city-owned utility) switched to smart meters. Contractor pulls the meter to a service upgrade. BPW's computer system sees the meter has gone offline and alerts the lineman department. Guess who rolls up to investigate an outage but instead finds work being done without a permit.
Best video I’ve seen you produced Joel. Excellent advise.
You make very professional, entertaining, and helpful content! Thank you for opening my eyes on how the trades work.
Joel, thank you so much for sharing this vital Information! Your are 175 pounds of awesomeness.
There are three types of government contracts: cost plus, least cost, and best value. Cost Plus is just guaranteed, but low, profit for the contractor. If doing the job costs $X in materials and hours, then they get paid $X + Y% -- like the GC that charges a flat 20%. Least Cost are the absolute worst. That's just "meet the minimum spec, pick the lowest bidder". This will see corner cutting and quality issues as the contractor is barely able to make a profit. But Best Value are awesome. The gov't doesn't have to pick the lowest bid, they can place value on contractor experience in the job category, experience with that particular (we worked with them before and know their quality), or several other reasons. THESE are the types of contracts you want, because an established relationship and a reputation for top quality work will get you more business and you WON'T have to skimp your bid. That seems exactly like what Joel is talking about -- building best value.
Again you are right on. Thanks for this video
So many bad GCs