We are living in a world where in order to grow we have to move out of our domestic horizons and need to explore opportunities in other markets. When we talk about moving out of the domestic horizons it can also mean leaving your homeland and look out of opportunities in foreign land. This is what many big companies have been doing. They tend to consolidate their position first in the domestic market and then once that is done they try to venture out. It is nevertheless important to understand the foreign market well before you actually go out there and set up your business. A lot needs to be understood and done before you actually establish your business. You may need help of various types of intermediaries at various junctions and have to simultaneously get rid of issues that crops up at any given point in time.
This is exactly what CAT as a company is doing. They have spend good number of years consolidating their position in the domestic environment where they have managed to beat all types of competition and have already went to foreign shores marketing their products quite aggressively. Off late it has been observed that CAT is ramping into countries where it did not have its offices or where its operation was quite limited. They are moving in there with new heavy equipment that did quite successfully in US and they have high hopes that those machines will have a big market in other countries as well.
Some of the new heavy equipments that they are aggressively marketing in foreign shores are the 424B backhoe loader, 336 F series excavators and especially the 336F L excavator which has been introduced in the year 2017. They are also marketing rollers and other big machines that are extensively used for works related to road construction and building townhouses. CAT is trying to collaborate with major construction companies all around the world and only when a deal is signed where the construction company promises to procure heavy equipments from them, the shipment of the consignment begins. Now the marketing team tries to rope in many more construction companies which have large scale operation all around the zone. This is how they consolidate their position first and then slowly and steadily they try to get permission of the government to set up their business in that country.
Cat has come up with its new fleet of heavy equipment and they want it to be used by their foreign partners. This is the reason why they have also instructed their dealers to promote the new set of machines. This however does mean that they will do away with the older ones. It is just that they want to promote the new ones aggressively. Countries in the Middle East and few in Asia and in South America have been their target zones. They see huge potential in these countries and hence want to expand their business to the tilt.
Questions pertaining to heavy equipment are quite evident in the construction sector. The person operating the machine may come across a number of issues and that becomes his questions. He needs answers to them in order to resolve the problem. At times he experience some sort of challenge in working in a situation that he has never worked before and he probably does not know how to go ahead with it. This also acts as an obstacle and he wants someone to address that issue or give him some kind of solution so that he can overcome the issue and get up and running. Line boring work is a very different kind of work but it will not be proper to call it at all difficult. Just because it is little different than the rest of heavy equipment people find it to be difficult and have questions on how to get the line boring heavy equipment to work. All you need in this case is a bit of patience to know the new stuff and perhaps some amount of concentration.
Ideally when a person who worked on heavy equipment doing things other than line boring will not have the knowledge on the subject and therefore the first thing will be to acquire some knowledge on how the pivots work and work together with other pivots on the heavy equipment. One should also learn to set up the bars level parallel to other pivots. Now this is something that you will only learn with time. You also need bit of experience and you will steadily see your skill getting honed. Remember the first time you started learning about heavy equipment you found that to be way too difficult and many also had thoughts of giving up the learning and do something else. So when you deal with something new you are bound to have questions and you got to seek for the answers.
While working on line boring heavy equipment you should fair deal of idea on how to measure a bearing or pin and from that assume the size the bore should be. These all are pretty basic and will not take a long time for you to learn but definitely the initial phase will not be rosy at all. You got to struggle a bit and will also have questions. What you can do is put forth the questions that you can’t derive an answer to someone who is pretty experienced in the stream and take his opinion on the matter. Experienced people can get you workarounds that you can’t even think of that being a possibility. It may amaze you for sure and will also be quite a handy thing for you.
Other than that you can place your questions on a blog for the experts to answer them. These days there are so many people who have turned on to the virtual world to get answers for their questions. You can also depend on it a bit and will find it to be really helpful.
Internet has given us all a new way of conducting business. There are millions of people who do not go out of their homes to work. All they do is turn on their computer and have their internet connection on. They do their business from that small equipment and make good profits. We can make use of the same technology to sell heavy equipment and still expect good profits. One may be forced to ponder that how somebody can buy construction machines by not even seeing it in person. Well, they can at least select the product online and then they can personally come down to check the stuff. This idea of selling heavy equipment online has been a big success throughout the globe. Be it developed economies or developing economies, all are making ample use of this technology to make their business successful.
We will be talking a bit in detail on how one can conduct this business without even stepping out from their home.
Become member of an online portal:-
There are number of online portals available that are into selling heavy equipment. Not just heavy equipment, they also sell heavy equipment accessories. An online portal is nothing but just a platform provided to both buyers and sellers to come to a common ground and do business there. So the seller simply lists the items that he wishes to sell with the price that he expect to get and if any buyer who is looking for similar stuff likes the item, he can buy it online and pay for the stuff using his credit card or through internet banking. All they have to do is become a member of the online portal to begin business on the website.
List items giving detailed description:-
When you are listing your product on the online portal, you should be aware that people are not able to personally see the machine though they can see the picture of the product but not the product itself. Therefore, you should give a detailed description of the product on the portal so that the readers get a fair idea as to what they will be dealing with. Mention every intricacy, sophistication of the heavy equipment on the listing. Viewers will want to know more about the product if you mention the intricacies. They might get attracted towards the product and might contact you so that the process can be initiated further.
Accept the payment via the portal only:-
Once you finalize the deal, please ask the buyer to pay for the equipment via the portal. It gives both the parties the required security that they are looking for in the transaction. It protects the interests of both the buyer as well as the seller. You may have to pay some amount to the online portal for listing the item and some fees if the item is sold successfully but it is really worth the security that you get from them after the deal is done.
Technology is often used to make things simpler and easier for you and no one can particularly set its limits. So you can go to any limits by not harming the nature or any living entity and use technology to its fullest to achieve goals. As far as the construction segment is concerned, the use of technology in many advanced countries has not been accomplished to its complete potential. They may use the best of raw materials and the best of designs and the infrastructure needed to complete those designs but much can still be done in the sphere of technology.
Construction companies can now make use of drones to monitor their work and make their lives simpler. One can only imagine how a mighty construction house that has its hands into vast projects is able to keep everything under control. Well, they know no magic but rely heavily on technology. They ensure that they use drones to get latest updates of their project and where it is heading. They can manage to have a bird’s view on the entire project and get all the details that they need to show the progress of the work to their clients.
Man management becomes simpler:-
When it comes to better man management, you can do it only when you know things that are happening on the ground. Getting updates from the heads of different departments may at times can’t give you a clear picture of the real ground situation. You have to monitor the situation on your own and then analyze to take better decisions. This is normally known as taking informed decisions. A drone can help you take informed decisions with accuracy. You only have to send the drone on the site and it will get all the pictures for you. It helps you to do a quick survey of the entire site which also invariably saves a lot of your time. You do not have to go in person to the jobsite and still get to know the ground situation.
Saves money on employing human resource:-
Buying a drone is anytime less expensive than employing a person with skills. You have to pay the guy good salary for his work and this will be a recurring expense. On the contrary, you buy a drone and get the work done at half the cost. The maintenance of the machine will again be less expensive than paying salary to the employee on each and every month. It will also provide you with more accurate data than what you can get from an individual.
Sharing the progress report with your clients:-
Your clients must be as busy as you are and it may not be possible for them to make their presence felt at the jobsite again and again. In such a situation, you can make use of drones to give them the real time pictures of the areas that are in progress and the areas where you have already completed your work. This will not only save yours as well as your clients’ time but will also win their confidence on you.
Construction projects are usually profit making ones and bigger the project the amount of profit that one can expect increases manifolds. However, the risk attached in a bigger project is also high. It is practically not possible for any might construction company to invest all it has into one project as they have their hands into other projects all around the city. So for instance, if a construction company is constructing a township in some city of Florida, it is not necessarily the only project under its belt.
The same company may also be working in simultaneous projects in some other city of the same state or in some other state as well. One can simply understand the amount of men they need to complete the projects all across the country. This also bring forth the question of investment that the company has to put in. it makes no point in making such huge investment because at the end of the day if you tally your total expense and the profit you have made, it will result to a minor difference. However, if you want to see the profit margin higher you can involve other construction companies or contractors in your work and just pay them for their services.
This is what many big construction companies have been doing for the last many years. Rather than working on a big project alone, they involve the participation of other small companies and give them their part of work. This means that the company does not have to deploy additional men and heavy equipments for the work. As a matter of fact, it does not have to deploy anything. The small construction company to whom the work will be assigned will take charge of the project and will do everything to ensure that the work is completed as per the instructions given to him by the big company and also that it is finished on time.
The project taker will thereby deploy its heavy equipment and men and work on the project. In this way, the big company can concentrate of other projects and can also simultaneously hunt for more projects and the small companies also get work. This means that the small companies do not have to spend their time and energy to hunt for new projects and if at all they do to get some extra work, it is completely fine as long as they are able to manage both the work at the same time. The big construction company should ideally not have any problem as long as his quality of work is getting unaffected.
This is a kind of win-win situation for both the big construction house and small companies and contractors who ideally have a hard time to get some work. The big companies also find it immensely difficult to manage the entire project single handedly. Now with the involvement of the small companies things will for sure move for better.
You be the one of the best seller with superb convincing skills, you will always find it difficult to sell a product that not many people have heard about. People normally like to purchase things that have a brand name attached to it or else they would be skeptic to go for it. For instance, if you check the stuff that you have in your house, there may not be a single item that does not have a brand name. You must have bought all the branded items however big or small the name of the brand must be. The same thought is applicable with people when they go for buying heavy equipment. As a matter of fact, there may not be single heavy equipment that gets sold without a known brand name attached to it. Construction companies irrespective of their size will always go for machines that at least have a reputation. They will not buy stuff whose manufacturers name has been unheard on not known to many.
Heavy equipment that is followed by a famous brand name sells like hot cake. Many sales men earn huge commission by selling machines that are known to many. However, they can earn more commission if they successfully sell brands which are not so famous amongst people. It is because the not so famous brands want to establish their presence in the domestic market for which they are ready to shell out more percentage of commission to the salesman who are able to sell their products. Salesman in turn gets lured with the high percentage of commission and they try to give it a shot.
After trying to sell heavy equipment of brands that are not so famous, it has been known that they faced serious hurdles and at times were also on the verge of losing a customer with whom they were doing business for long. It is not that the new brand is not a good enough stuff but it is just that the buyers do not have the confidence to go for it. It makes the work of the salesman tougher to sell new brands. Buyers will ask them to come up with products that they have been buying and may not show much interest to even know what the new brand is all about.
There are few salesmen who took this as a challenge and started promoting the product first and then went to sell it. It is important to first market the heavy equipment well so that people gets aware of the brand and gets known to the values of the company. After this, they can fix an appointment and straight away go for a demonstration. Only when the buyer checks out the demo that he may get convinced to buy the machine. In this entire scenario, the salesman need to play smart and try to co-relate the wants of the buyer with the features of the machine and then it will sound just perfect to the ears of the buyer.
It is believed by many that one can have a wonderful career if he knows how to sell things. We all are sellers but very few are good sellers and only the few good sellers make the most out of anything. Selling has always been referred to an art which needs to be sharpened in order to make maximum revenue or to get utmost advantage. One such industry that pays a lot is of selling heavy equipment. The reason it pays lot is because it is not an easy job at all. Heavy equipment is in itself a complex subject and people who are into the profession of selling these complex subject needs to understand it well so that they can pitch them to the consumers with confidence and can also sell them the right stuff without misguiding them.
People who want to make their career as a salesman selling heavy equipment should for sure follow these points as it will help them big time to climb the success ladder.
Knowing the technical aspect is important:-
In order to become an ace salesman, it is crucial that you know a bit about the technical intricacies of heavy equipment. Not knowing anything about the technical aspect can cost you dearly when you start facing different types of clients and especially the ones who knows about the stuff you are dealing with. Just because you can speak well and not have much knowledge about the machine you are trying to sell will not help you to bail out from the grasp of the client who knows the in and out of the equipment. You will definitely see yourself to be trapped. Therefore spend some time to learn the stuff you are selling.
Do not try to fool the client:-
Many beginners commit the mistake of trying to play around with the client’s intelligence and thus also end up paying a heavy price for it. Trying to fool the client can have drastically adverse effect on the company for whom you work. The client will completely lose his confidence from the brand and he will feel that the brand is misguiding people to sell its product. You can’t play around with things like this. In case you do not know something that was asked to you, be strong enough to answer the truth and say that you will gather more information about it and will get back to him. The client will appreciate this and you may do well in the next meeting.
Give demo to the consumer:-
When a new product is launched in the market which the consumer has not heard of or perhaps have never experienced it, you should give a live demo of the machine to him. In this way, you attract most of his attention and can also leave a positive imprint on him. Try to explain the benefits of the equipment in his business and if he finds it worthy, he will take it for sure.
A manufacturing company can thrive only if it has a proper team of professionals who are competent in providing after sales service. They should be good at their job because it is perhaps the after sales service guys who are majorly responsible for the goodwill of the company. If the product goes faulty, the customer hunts for someone who can get that fixed and if he does not find anybody then he will never go for that brand in his life and will also suggest others to not buy product of that brand. This can prove really costly to the manufacturing company. The after sales team therefore plays such an important role in the growth of the company. The company therefore has to play a more crucial part by hiring competent workforce who knows about the subject well and will take less time to resolve the problem with the product.
Heavy equipment companies manufacture really expensive items and it is quite likely that a product may stop functioning after few months of its purchase. This is why you need to have men who can go to the clients’ jobsite at the word go and can check the problem. The construction business owner are usually loaded with too much of work and are also heavily dependent on heavy equipment and if any of the machine stops working, it costs them dearly. This is why they need a mechanic right away when they experience issues with their machines. It becomes the responsibility of the heavy equipment companies to hire the best mechanic. The crux of the matter is that they should be able to identify who are competent mechanics and who are not.
Check their qualification:-
The heavy equipment companies should check the qualification of the candidates at the time of the interview. They need to check the academic scores and ask questions by giving them different scenarios. This will let the interviewer know the exact standing of the candidate. If the candidate has studied hard to secure good marks, it will reflect in his academics score sheet. However that should be taken as the sole criteria to judge the competency of a candidate. The interviewer should keep this as one of the parameter.
Experience plays a mighty role:-
The experience of a heavy equipment mechanic increases his price in the market. Heavy equipment companies are ready to pay him a higher package if he has good number of experience up in his sleeves. Your experience should be also followed by a good track record wherein you are always punctual and do not take unnecessary leaves. Your overall conduct has been good in the past companies that you have worked and should not have stability issues.
The machines he has worked on:-
It is important for the heavy equipment companies to check with the mechanic on the kind of heavy equipment he has worked on. A mechanic who has only worked on graders and has no working knowledge of loaders or excavators is not a viable one for you.
New entrants are always posed to higher risk in any form of industry. Newbie who lack experience to handle volatile business are prone to risk that can lead to winding up of the business once and for all. This is the reason why when you think of trying your luck in an industry, try to gather as much knowledge as you can to help you analyze the scope you have to stay afloat and the risks attached that has the potential to sway your business forever. Take advices from people who have been in the industry for long. Their tips will definitely help you for good. When we talk about volatile industry, we can never skip talking about the construction sector. It is considered to be one of the most volatile sectors. It is also known for rewarding people for their good work and ability to strive in high tides.
New entrants in the construction industry have to witty, sharp and sensitive towards their business. Any form of casual approach can cost the company dearly and end their hopes to make it big in the sector. Market experts believe that the construction sector in a nutshell is doing better that most other industries and the reason behind it is the boom in the economy.
The world economy is improving and so are the industries that are closely associated with a growing economy. It is therefore the right time to get into the construction business and try to achieve success with hard work and dedication. However, you got to decide the genre that you want to take. For instance, you need to decide if you want to get into forestry or road building or construction of residential property or commercial houses. This decision is quite imperative for you to get hold of the business and later consolidate it.
Housing sector is at its peak:-
New entrants in the construction industry can try out in the housing sector which is at its peak for the time being. You will not find much competition there as long as the size of the project is small. Companies that are into this business for long do not want to end up in small projects. They basically eye for work that will last for a couple of years. It undoubtedly has more money for the builder which is why many companies compete to bag the work. Quite contrary to this, small housing projects are not a highly profitable zone that one would like to enter and therefore it gives new entrants the opportunity to take the work and strengthen their position. They can continue to pick smaller projects as long as they are not confident to go for a bigger deal.
Construction of amusements parks and resorts:-
Constructing a holiday home is the next big thing that the construction industry has for new entrants. However, a company with no experience of building such projects can have a hard time to complete it and therefore it is recommended that they get into a partnership with a more experienced company which is smaller in size and is ready to partner with a company that is a newbie.
Starting a construction company is way different from starting an excavation company. Though both are very closely associated with each other but still there lies a chunk of difference when it comes to operating the business. A successful construction company may not put his hands in the excavation business as well. They might find it a bit uneasy to operate that stuff. They got to learn whole new things if they intend to lay their hands in starting an excavation company. Firstly, it has to do much more than just operating heavy equipment. Here you need to know the guys whom you should hire and whom you should fire. Not knowing that part can have a drastic impact on your company. Moreover, you should also know the laws of each state. You will definitely not be restricting yourself to just one state and if required you will move out to other states as well for the growth of your business. There it becomes instrumental for you to know the law of the land.
We will be discussing few important points that are required to analyze before you start an excavation company.
Knowledge about the business:-
Before you start doing any form of business, it is important that you know a bit about it beforehand. Depending on others for your business can prove to be harmful. You have to depend on their decisions and will not have a choice of your own. It becomes suffocating when you are not allowed to make decisions on things that belong to you. Taking advices from others is different from accepting and following other’s decisions. Apart from that, you never know if the person on whom you are so dependent is taking you on a royal ride. Knowing a bit about the excavation business will be a healthy sign towards making your company a formidable one. You can attend few training sessions that are conducted by business leaders where they share their ideas to the mass. Such sessions can be really helpful. Other than this, you can also work on the field in order to understand the business better.
Hire competent attorneys:-
You may not be able to understand the legality of each and every state and therefore it is advisable that you hire an attorney who has loads of experience in dealing with matters of your domain. He/she will be the man or woman who will guide you on legal issues. So before you set forth for a new project in a state, you try to get all the necessary sanctions with the help of the attorney so that once you begin your work, you do not come across any legal hassles from any part of the government.
Handling payroll of your employees:-
You should have designated staff who will handle the payrolls of the employees. Try and create a log in your computer and share the details with the department who handles the payroll part of the company. People work for money and if there are discrepancies in their salary they feel de-motivated. This is a danger sign for the company.