WEBVTT
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The trade's on fire.
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It needs our help.
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If you're the person that gets these things right, then you get to be the lawmaker, so to speak.
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You get control over your marketplace.
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You'll be the one that everyone wants to work for.
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You'll be the one able to pay a wage, great enough to afford the electrician, to afford the materials and be able to again facilitate transactions, to afford that company and that lifestyle.
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But if you won't, you'll fall behind the pack like we've never seen before.
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Hello, hello, hello and welcome to the Million Dollar Electrician podcast, where we help home service pros like you supercharge your business and spark up those sales.
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I'm Joseph Lucani and, together with my co-host, Clay Neumeier, we're here to share the secrets that have helped electricians sell over a million dollars from a single service van.
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Now it's time for sales, it's time for scale, it's time to become a million-dollar electrician.
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Hey you guys, welcome back to another podcast, another one powered by Duramax.
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They've been providing some great deals for you guys.
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If you're on the inside on our app, which is now public facing the Service Loop Electrical Pro app that's on Android and the Apple Store, go look for that and join it so you can get in on the Duramax deals as well.
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If you're interested, or already in the generator niche, here's a really special episode for us today.
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Joe, our trade is burning.
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It's actually on fire.
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Are you familiar with the laws of supply and demand?
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Yeah, I mean basically one when scarcity goes up, so does value, and when the number of providers goes down, people are going to try and scramble for the ones that are good, and those providers are going to have a far higher chance of being successful.
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Well, today, my choice of this topic is to let you know what for us to have a conversation, but to let all of our viewers and listeners in on.
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Why are trades on fire, why it needs help, like serious attention, from all of us.
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It's all of our duties and why we're going to actually and how we plan to take up the fight to make sure more people know about this, more people can get on board, more people can help.
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Guys, if you've ever felt like there's a ton of people around you, a ton of competition in the electrical trade, because what is it?
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Nine out of 10 people in trade school will actually go and start their own business someday, and the 10 out of 10, the 10th person will probably trip on it and accidentally fall into business anyways, you know what I mean.
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Like, yeah, there's a ton of industriousness surfacing, but you guys need to know the numbers here, and so I want to share some of those numbers with you.
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Currently, 10% retire every year from our trade.
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These are US statistics.
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I'll share a source within our transcript or summary for this where you're watching the episode.
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But 10% are retiring every year.
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Only 7% are filling in, replacing them Data centers alone.
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I maybe even talked about this before, but data centers alone are 4.5% currently of the grid.
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That's expected to triple in the next six years to 13% plus.
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That doesn't include EV.
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That doesn't include other renewables, other demand sources that are currently climbing.
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Population alone is creating more demand.
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We're in this situation where the supply of tradespeople and resources, by the way, is getting more expensive and fewer and fewer, and the demand is getting higher and higher.
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What do you predict is going to happen in this trade Joe?
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I think it's going to get to a point of critical mass where people will not only realize it, but it's going to be realized very quickly and very suddenly.
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Because, you're right, as the older people tend on phasing out, we need people to replace them that are competent.
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Now I say competent very specifically because there's a lot of electricians as a whole, but how many of those companies tailored towards premium white glove experience serving their clients at the highest level?
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It's not a ton.
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So the thing is is that if you have a decrease in service providers but an increase in demand, if you can position yourself in that niche, you're becoming a blue ocean where everyone else was chasing new construction in these big trade jobs and instead you're like you know what Demands in residential.
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Why am I not just serving people where they need me?
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residential.
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Why am I not just serving people where they need me?
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Yeah, no for sure, I'm fully bought into that.
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I would add, with the resource and the prices that are going like copper and aluminum, they're not going down, no, I'm not at all, they're going up.
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And our trade, specifically between those resources and between the manpower issue, that means the inflation on this is going to be exponentially what it has been in the past.
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And while I feel for homeowners they still deserve choice, right, homeowner, homeowner, we all have homes that we have to maintain and update and and keep our quality of life improving as we go, or else, what's the point?
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People, or you know certain people are just really interested in this.
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So I don't actually see that stopping.
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Mike rowe, dirty jobs had just said hey, ai's replacing our desk jobs.
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Something like 80 percent of the desk jobs might be gone in the same, in the same time, same period, but it can't replace our trades.
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It can't replace our dirty jobs, as he's known for.
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Right, it's not going to replace welders, electriciansians, boiler makers, mechanics.
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One of my daughter's friends' dads was here yesterday talking to a mechanic.
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Same thing it's everywhere.
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If you haven't noticed that places like Indeed and LinkedIn are starting to reach out to you as a tradesperson every week.
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It used to be the other way around.
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You remember that You'd have to go, look for a job and apply.
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Now they're literally reaching you to get you to work for them.
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Hopefully these are all signs of what's coming, and it's so easy to like, overlook it and not even realize how fast this is shifting.
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Additionally, there's also a job security in it as well.
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Like you can say, an engineer could be replaced in the sake of argument of going off site or out of the country entirely.
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But let's say sake of argument, the whole world fell apart.
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We're both licensed electricians.
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I could hop into a van and still produce a six-figure salary, and it'd be great, because the ability of doing so is the skills never leave.
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See, money invested properly always produces a dividend.
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But you couldn't do that in any other trade or in any other profession that you could say.
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You know what, if what I'm planning on doing fails, I have something that could produce just as much as a safety net.
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Yeah, and if you guys haven't heard, see money before.
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A bit of a term of just investing in yourself is all Joe means by that.
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That money never goes to waste, barring any cataclysmic beheadings.
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Yeah, short of a brain injury.
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You know what I mean.
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Even further, if you had a debilitating physical injury, you, as a licensed electrician, could still oversee jobs.
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You could still do designs.
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You could still educate on the hand tools.
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You need to do so, having the trade experience.
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Even in a wheelchair, you could supervise a job if you needed to.
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So you're going to have far more potential, having way less risk and a higher income potential in the trades than you would at any desk job, which is complete backwards to what it was 30 years ago.
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We were told to go to college and you know you'll have the amazing life, but now those who did are in a risky situation.
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I'll add another interesting pivot Creating value is the necessity here.
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This is the very thing that we teach, right?
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Because if you can set your own rates, if you know how to, then it won't matter.
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It'll actually be in your power.
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So the trade can be on fire and you're going to have a greater opportunity than ever, just like when COVID came right and so many times in the past where, hey, it seems like the world's ending.
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There's a bear market, there's a massive change and a bunch of people go, oh crap, I've got to go hide in the den.
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And a bunch of other people seem to emerge and come out squeakier, more clean, better than ever.
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You know what I mean.
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This, I believe, is one of those opportunities.
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Joe, if you're listening to this today and you're still just thinking small, feeling small and waiting for the boom, this is your call to action.
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This is it, because those that master this I mean let's run through it quick.
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There's still going to be 70 or 80% that fail in their business in the first three years.
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But guess what?
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The fact that those people tried means that a good handful of them, probably a third of those people, are A players that didn't make it due to the market pressure due to whatever circumstances they face, due to not having value articulation, because they still don't train this stuff in trade school.
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The bigger problem that we want to solve here.
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Right, if you don't have any business aptitude, then you don't have any business and business, at least not long-term business.
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That's the challenge here.
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But if you're the person that gets these things right, then you get to be the lawmaker, so to speak.
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In other words, you get control over your marketplace.
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You'll be the one that everyone wants to work for.
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You'll be the one able to pay a wage great enough to afford the electrician, to afford the materials, and be able to again facilitate transactions, to afford that company and that lifestyle.
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But if you won't, you'll fall behind the pack like we've never seen before.
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Would you agree with that, joe, or what are your thoughts.
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No, I really, really agree, and I think there's another way of even expanding on it further.
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A hundred percent agree.
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But a parallel is you're talking about A players.
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One of the biggest struggles we hear electricians say is I can't find people.
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And it's not that bodies don't exist, but qualified, charismatic, competent bodies are very hard to come by.
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So let's say you were that A player and you realized I don't want to run my own business.
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It's just, it's not for me.
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I love doing electric work, I'm a great tech, but I just I don't want to do it.
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I guarantee you just put a resume out and you could just put up a smoke signal and say, hey, I'm an electrician looking for hire, and people would swarm you like ants over a hill.
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So the potential for even being hired if you didn't want, for some reason, to go into business also exponentially increases, meaning the safety net of being an electrician is massive.
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Yep.
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I'd like to add to that even more and say this is why I feel it's even more important to be able to articulate value and basically cause belief shifts, because now more than ever in over the next five years, the information that is online isn't going to be fast enough keeping up with the information that is out here boots on the ground right now.
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Can I give you an example of what I'm talking about?
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By all means, if you're an electrician running your own company or other, even in sales at all, then you've probably experienced where.
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You've gone to a house, joe, I'm sure you're the same boat.
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You've gone to a house and someone said well, on Google or on Home Depot, it seemed like it was going to be this much.
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On Angie's leads, they suggested that the ceiling fan replacement would be about $200, not 2000.
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Those prices are going to be more wrong than ever before.
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Without good value, articulation and ability to have a conversation that pivots around those obstacles I'll call them those first objections you're going to be up Schitt's Creek without a paddle.
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Not only that, but one of the most common searches, and this is in our playground because we constantly are invested in finding the best way to find you guys to help more electricians.
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And when we look up SEO search engine optimization some of the most popular searches around the term electrician are is electrician a good trade?
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How much can I make as an electrician?
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Do you know what the average answer is to that, joe?
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How much can I make as an electrician?
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I?
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remember what it used to be, because I remember when I was looking at it it was like 80 to 120, but like now, you can have people in the 180 range and it wouldn't surprise you Because you have such confidence.
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The problem is that, no, Google's not reflecting that.
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Google still show you around 80,000 average.
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You're kidding me.
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It will not give you the additional insights.
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So you guys go ahead and search this yourself.
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But I'm going to tell you something in reflection from our last episode right now, that's going to dump whatever the hell Google says right on its damn head.
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Remember how we talked about Nathan Miles just having $110,000 a month sold alone from his own van, sold and installed.
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That's insane.
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Google will never tell you that you could make $100,000 a month as an electrician.
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Now, fair enough, Google.
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Is it sustainable for one person to do that long term?
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No, no, Probably not.
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But if you figured that much out, wouldn't you want to expand on it?
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So this is the context.
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The contextual issue that I have a problem with is, if you ask anyone in the SLE pro app, in our service loop group, in these better practice, better business practice, electricians within our groups, if you ask them what's the earning potential of electrician, you get two answers.
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You'll get what bosses want to pay, but then okay, truly what someone can earn.
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And let's be honest all day long If I've got a $1.5 million tech, can I afford to pay that person 200,000 a year?
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Yes, you can, Because at the end of the day you're looking at it and saying, here you give me 1.5, I'll give you two, or I'll give you 0.2 on the dollar.
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It's like, it's amazing, Like because if they're able to meet the margins, even if they weren't subtract 1.5 million from your total, and say, couldI sustain without this investment?
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It's huge, and as the prices go up, guys, so will those values.
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There will be a time soon, like right now, if someone says oh, a million dollars, that's not a lot of money.
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Million dollar electrician is still impressive by our standards.
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When it isn't, maybe we'll switch the podcast to $2 million electrician.
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I'm not sure what we'll do with that.
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However, there will be a time soon, I think in the next five years, where people will start to go eh, it's been done.
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Million dollar electrician, yeah, it's middle of the run.
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The way prices are these days, everything costs so much.
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Nonetheless, guys, we're needed.
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The trade's on fire.
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It needs our help.
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What can you do about it?
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I've got a couple of suggestions for you and it's exactly where we planned ahead to Joe.
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Can I share this with them?
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100%, full steam ahead, my friend.
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Our goal, this vision is we believe fully that trade schools are letting down electricians.
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When we talk about nine out of 10 in the room being destined for business at some point and the 10th person tripping on it by accident, that means 100% of these guys need to understand value articulation.
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They need to understand the basis of pricing and business principles and serving people at a level that would be conducive to a transaction.
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I hope I said that simple enough, but it's so important that we're going to literally build a bolt-on package for trade schools and I can't wait to get this out for all the masses.
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This isn't happening overnight, folks, but our greater vision is this flywheel of yes, we're supporting today's electricians with this podcast and our efforts and our group and our app, powered by duramax here as well duramax supporting you guys too.
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However, there's also the mentorship piece and once you know these things, it follows the principles of learn, do teach.
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We all have a responsibility to go out there and tell people that yes, answer that question.
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Is electrician a great trade to have?
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Absolutely.
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I take pride in being one of the smartest trades out here and having the integrity and service skills to be able to bring people's lights back on.
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That's powerful, joe, right.
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But the second piece of this is that mentorship and them and you having the bolt-on package to bring to your local high schools and trade schools and keep spreading the word.
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Go to job fairs and let people know that electrical is a great trade and you can make a great wage and you can highly, highly, highly impact some lives through this trade.
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That's my cry for help.
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That's your guys' call to action, joe.
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Anything you want to add to that, brother you know at the end of the day, I feel like I stumbled into being an electrician and it was the best decision.
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I feel like I stumbled into being an electrician and it was the best decision I ever made, and I wish that more people could stumble into it too.
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It's one of those things where, if you do things that are like this, the dividends you'll receive in your life, the peace of mind, the comfort you can have and the ability of really creating impactful change in the lives of others in your neighborhood there's like nothing.
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There's nothing like it.
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So if you want to go down this road, blessings are to follow.
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If you want to help some other people stumble into this, hit the subscribe button.
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More importantly, share this through the link, whether you're on YouTube podcast channels, anywhere you are, share it with someone else who could actually be helped out by stumbling into this one.
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We got to run.
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Thank you, guys so much.
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We'll see you again next week, Take care.