If you are thinking to not pay your contractors for their job for whatever reason, you should think twice about it. You may find their work to be of poor quality but when you see the progress of the construction, you can let the contractors know that you do not like their work and they need to focus more on the quality part. Just not paying them their dues can drive you into serious problems. The contractor can place a lien on the construction property and can make the entire thing quite messy for you. It is better to counter them upfront and tell them you do not like their work rather than not paying them their dues.
Let us first understand what a lien on a property is all about. Having first lien on a property means that it completely belongs to you and in case if you want to sell it off and go back home with all the cash you are free to do so. Now if someone puts a lien on your property, it means that if you sell the place you can’t get away with the entire cash amount. You have to first clear the dues of the person/entity that has put the lien on your property and then whatever is left belongs to you. It eventually means that you do not have the absolute right on the property.
This is perhaps just the tip of the iceberg. You may be further entangled with more such complications that will act as a big distraction in your business. Your credit rating goes for a toss. You are also not able to refinance the property with any financial institution. This means that you can’t even keep this place as LAP (Loan Against Property). Moreover, when you are letting you the construction work to a contractor and if he sub-lets it to another contractor, you need to ensure that the contractor pays all the dues to the sub contractor or else that particular person will place a lien on your property. It simply means that whosoever person who has any interest in your property can place a lien on it if their dues are not paid.
In case you come across a contractor who does not carry a good record and you unfortunately give the work to him. In this case, you got to be absolutely sure that you keep records of your payments to him. Such people can create nuisance even after they have received all their dues. In case you are clean, you hire an attorney who will take such guys to task. But before you hire any contractor, it is important that you do a research on their conduct. You can check things like how long they are into this business and how their relations have been with other construction companies. You can check with people in your business circles and hire someone who will not unnecessarily put liens on the property to create problems for you.
Businesses in any industry functions on lot of planning and strategies. The strategies are usually laid to keep things moving and to pursue the overall motto of the company and that is the growth of the company. But there are times when the plans that you have set up do not go in sync with the current situation and this is when there is a likeliness of things going out of control. This is when a Plan “B” comes into picture. By Plan “B”, we refer to a secondary plan which is in place to defend the company from any backlash that comes as a result of the failure of Plan “A”. So when you see that you are preparing a plan which you feel that has half a percentage chance to succeed, you should also think about preparing a correspondent plan that will take over the initial plan if that fails to work out.
Preparing a Plan “B” is easy but following it is difficult. You need to do some brainstorming and discuss things with people from all the departments on things that you should do if the initial plan does not work out. You may even get suggestions that you will find wise enough to be followed but the real challenge is to implement the secondary plan. You have to change the complete course of action from the first plan to the second. This is undoubtedly the most difficult part because it means that there has to be some sort of changes in every department and not everybody can easily accept changes nor it is simple to bring changes throughout the company if yours is a mighty big one. Therefore before you think about jumping for a Plan “B” it is imperative that you understand the pros and cons and also the shape it will give to your company.
If it is a plan that will not have a major impact on the functioning as well as the finances of the company, then perhaps there is no need to have a secondary plan. Yu can always term the first plan as obsolete and move on with something else. But the problem will be when you are thinking of acquiring another construction company where you will have the maximum stake. In situations like these, you not only put the future of the company at stake but also the interest of the shareholders who have invested their money by trusting your thought process. This means that you can’t afford to go wrong and in case if you do then there should be a plan to back the backlash of your initial plan.
Do not forecast a lot and work more on ground realities. When you forecast a lot, you keep a lot at stake and if your forecasts keeping going wrong, it adversely impacts you as well as the company. Being foresighted is good but if you forecast just on the basis that it will all go your way, then that may prove to be a bad move.
Cut throat competition has led to invention of new and innovative marketing techniques. In order to stay in the market they all follow the various marketing channels to reach out to a large number of people. You may have a good reputation and have been running the business for a long time but it does not take a while for people to forget you if you fail to keep knocking the minds of people. People forgetting your presence can happen due to many reasons. However, the most primary one is there are multiple companies available in the market that produces the same quality stuff.
So if you miss to stay in the minds of people, there will be someone else who will take your place and soon you will be out of the league. This is quite a dangerous thing to happen and no tenured company will ever want this to happen. The same rule is applicable in the construction industry as well. In order to get new projects or work, you need to be known to others and it is possible only when you stay active on social media websites and speak in volume about your work.
Lay out a strategy in the first place:-
It is crucial that you first lay out a concrete strategy to put up the name of your construction company on social media sites. For this, you need to first have a website that talks about you and your company. The vision of your company should be clear in the website. Once you have your website in place, you need to locate the social media site that is most famous amongst masses. Now there are few websites that are known for casual purpose and some are for business purpose. You should be more active on the business one. However, that does not rule out your chance to post your work on other social media websites. What is important for you is to get known by as many people as it is possible. The more people know you and your work the more are your chances to get businesses from clients. Remember, every prospective client of yours also have an account for posting casual stuffs. They get to see your company on both types of social media sites and therefore they know about you sooner as compared to your competitors.
Be more active on professional social media website:-
You should be active on social media websites to gain attention of people but you should be more active on social media sites that are meant for professional purposes. There you will come across people who belong to your profession and the chance of getting work from them is more. Simultaneously, you will also bump across people who are skilled workmen and you may require their services for the completion of a project. There are websites that are exclusively used by Human Resources team of different companies to hire new talents. They go through the work experience of the job aspirants and if it matches their requirement they are informed about the date of interview. You can also hire skilled labor force from such websites.
Success in any industry and in any profession comes with determination, knowledge and the zeal to work hard in that stream. People should be running after achieving this basic criteria rest follows. Some people are of the opinion that selling a thing is the most difficult job. But as a matter of fact, day in and day out we are in some way or the other selling something or the other, sometimes knowing and many times unknowingly. This means that we are constantly in the process of selling. It is just that we are not aware of it. People who are salesman experiences different kinds of scenarios with each passing day. The ones who are able to manage those situations well find themselves near to success. It is because they learn from those situations and apply it the next time they get them.
Selling heavy equipment is like any other product is full of challenges and perhaps it is a bit more difficult than the rest. There is huge demand for good machines but at the same time there is good deal of competition as well. It is not just the domestic players that you have to deal with but also the foreign players that has seen US as their potential customer. The end user has more options now and this makes your job a bit difficult. There are few things that you can do differently from the rest of the population that can make you successful in this form of the business.
Know your product well:-
Salesmen are normally sent to sell products without them knowing much about it. This can’t be expected to be done in the case of heavy equipment salesman. He/she is supposed to know his product well. When they speak to their client they need to speak sense or you just lose the deal. When you do not have answers for the questions posed to you, make a note of that and inform that you will let them know about it. Please do not speak something that you are not sure about. You never know how much the prospect knows about heavy equipment and if he/she finds that you gave him an incorrect input, you are done with him.
Sell machines that suit his/her requirement:-
The conversation between you and the prospect went successful and he/she is ready to buy a machine. Now there are 2 different types of machines that can be sold to him/her. However, one will be quite effective and the other is not. But you get more commission on the latter. Here comes your commitment towards the buyer into play. You should sell the one that suits his requirement and not the one that earns you more money.
Give correct suggestion even if it costs you a sale:-
A construction business owner at times sees himself/herself in a dilemma where he/she is required to choose a machine produced by two different companies. You as a salesman will suggest him as per his requirement even it means doing away with your brand. You may not be able to make any money at that point in time but have won the trust of the person. This will get you more business in the future.
It is always advised to follow your dreams, to do that you indeed want to do. Not many people are able to recognize what they want to do and the few who does recognize are indeed the fortunate ones. It is probably those guys who taste success after success at every walk of life. Talking about heavy equipment mechanic, one can definitely pursue it as there is huge potential in this line of business. Construction industry is here to stay and so are heavy equipment companies. As long as both the industries co-exist heavy equipment mechanics will have every opportunity to earn lot of money and also see them growing in this business. For heavy equipment mechanic, they have the option to work in a workshop or get associated with a big construction company that has a fleet of heavy equipment or work as a freelancer. In both the cases the earning potential of the mechanic does not diminishes.
Ideally a young boy is motivated to become heavy equipment mechanic if his father or someone in his family is a mechanic and the boy has a very close relation with the person. It has been observed that people who have generated the interest to become heavy equipment mechanic from a tender age have someone or the other from their family working as heavy equipment mechanic which in a way has also driven their interest to the same line of business. It is because they have seen their elders doing the work from an early age they probably want to do the same. A little encouragement from the family does all the wonders for them. Get into an institution that creates competent mechanics. Study hard while you are there in the institute and try to come out with flying colors.
Once you are out of the institution the journey has just begun for you. Try to get into a workshop that deals with heavy equipment. If there is one such workshop in your family you can sneak in there or can find your way on your own. But it is in the workshop where you get most of the practical training and learn how to fix heavy equipment. You learn a lot when you work on different types of machines and also when you have an expert right next to you guiding you to do things. You tend to become a good mechanic if you can incorporate the knowledge that you have gained while learning in the institution and the practical stuffs that you have learned in the workshop.
After spending for few years in workshops and having gained some experience you can try moving into big construction houses that pays you well. If you are confident that you know your work well and you can tackle any kind of problem related to the machines then you should try to open your own workshop and work as a freelance mechanic. But it is advised that one should not work as a freelancer as long as he has worked for at least 10 years as a mechanic. 10 years of experience is needed to prove your excellence in the field.
Most of the construction and renovation companies do not do all the work on their own. They rather prefer to give few jobs to other contractors. It is also not possible for a mid-size construction company to manage all the work on their own. They may not have the required heavy equipment at their disposal and they will not want to buy machines just to get one particular work done. It is therefore that they prefer to invite contractors who can do that set of work for them and pay them good price for the job. In a construction site, one of the most important jobs is to demolish existing structures and that part of the work requires good number of heavy equipment. Now a construction company can’t afford to buy every kind of heavy equipment that is required for the demolition purpose and this is why they let out that work to demolition companies.
It makes ample sense to start a demolition company where you need to possess some heavy equipment that is predominantly used for demolition jobs. There are many such demolition companies that are making good chunk of money doing this work. There are of course few challenges that one has to go through during the initial phase but once the business kick starts, rest all falls in place.
We will be discussing on few reasons why one would want to start a demolition company.
To start any type of company, the first thing that you need to crack your brains for is to arrange capital. No company can be started without required amount of financial inflows in it. This is probably the only form of business where the amount of capital that you need is less and still you can manage to get business from people. All you need is few competent men who know their job, an office space from where you can operate your business and some heavy equipment that are used for demolition works. Once you possess these 3 thing, all you have to do is hunt for work. Meet as many construction companies as you can and tell them all about the existence of your company and the experience you own. They will for sure give your business if you are a bit old in this profession. So ultimately you can form a demolition company with absolutely very less capital.
No need of sharp technical know-how:-
To start a demolition company, you need not have sharp technical know-how. All you need to know is how to do business. Having said this, you definitely need to have some basic information about heavy equipment and stuff or else people might take you for a ride. It is just that in order to start a demolition company, you need not have a college degree or need to do some hardcore studies. You only need to know your stuffs well. If you have some experience by working in a demolition company, it will always work as an advantage for you.
When life gets tougher you seek for an inspiration and in case you have a role model in life it becomes easy for you to come out of that difficult situation and face the challenge with open heart. When you are part of the construction industry, you will time and again come across situations that you will find to be quite challenging and there will be numerous occasions when you will feel like giving it up. In situations like these, it is important that you seek help of the person whom you believe to be your role model. A role model can be a person either living or dead and therefore you may not necessarily get to speak to him in time of distress. But you can certainly read up his works and get inspired to know what sort of challenges he has faced during his times which may be tougher than yours and perhaps then you will get some courage to deal with things.
Female works can be exceptional role models as they have to go through a lot than men do. They have a family to take care of and they can’t shrug off their responsibility by saying that they have too much of work in office. So women who have successfully managed to tackle both the fronts have turned out to be better role models and the world look at them with respect and honor.
If the role model is in your reach, it benefits you more than anything else can. Ideally, we have role models who are well established and it may not be easy to reach to them every time we need their help. However, if you idolize a person for his hard work and the person work right in your office then it becomes simple to approach him anytime when you feel like talking to him. For most people, their parents are their role models and if your father or mother is from this industry then you always have them for a short discussion. You can sit with them and talk about the issues you are experiencing and they will show you some way that might be the best for you. You will never find yourself short of good people around you. It is just you got to be equally good to everybody around you.
There are few people who adore men belonging to an industry different from the construction. You need not have your role model from the area of your business but can have from any profession and from any walk of life. Every person has a story that can inspire you and the guy from the construction industry frequently find the needs of such stories as they are often haunted by difficult times. It is these stories and the lives of such people that help them in rough times and show them the way to get over it.
When you are dealing with highly priced items, it is very important that you follow the right platforms to deal with them or else it may lead to various sorts of complications in the future. It may also lead to losing the heavy equipment forever. In order to avoid any confusions or hindrances, it is crucial that you follow the right platforms and you will find things going your way. Construction equipment is quite expensive. You buy a machine for thousands of dollars and put it to use for few years. After which you feel the need to upgrade your arsenal and have to do away with the old machine. However, if you are not a filthy rich guy, it will definitely pinch you hard to just let go the old metal. If possible you may want to retain the machine but if you do not see any use of it, then there is absolutely no point in keeping the junk with you.
In such a situation it is prudent that you let-out the machine to another user and collect monthly rent from him. In this way, you still possess the equipment and also have put it to use and simultaneously getting good money as rent. Now, when you talk about renting the machine, it is quite imperative that you follow few parameters that will let you rent the equipment without any risk of losing it. Following few essential parameters means that you rent the machine through proper channels and by following right set of rules.
First and foremost you should be checking the right channel through you can search takers who would be willing to take your machine on rent. You can depend on newspaper classifieds or websites that exclusively deals with heavy equipment. Most of the websites that deals with purchase and sale of heavy equipment also works in the sphere of renting them. You have to classify one such website that is pretty famous within the masses. By posting the heavy equipment in that website will increase its viewership. People from across the country will get access to check the ad and anybody is interested will get in touch with you. You can then decide if you want to ship it to a different city or want to give to someone who is from your city.
You may charge the shipping cost from the taker but that has to be informed to him in advance. One more thing that is more important that discussing the shipping cost is the rent amount and the period for which they are seeking to rent the machine. Also, you got to state them very clearly the duration at which they need to service the machine. If the machine will be used extensively then servicing the machine should be more frequent. Make sure that you prepare a proper rent agreement with the taker and mention all the valid points that you guys have agreed to in the agreement. Once the agreement is signed, you can ship the machine to the taker.
It is unlikely for an individual to know the depth of everything as he can master himself in one sphere if not more and therefore for things that he do not know, he needs to depend on others. It is quite obvious that we can’t perfect everything in our life span and when it comes to the construction domain, it becomes all the more difficult for a person to know all about this industry. It may take him years of his involvement in this industry and still he may find something new to learn in the following day. This can only suggest how wide this industry is and how much absorbed you have to be to become an expert in this kind of business.
It is not that this industry lacks experts. You will certainly come across people who possess good knowledge about the construction domain but they may not know much about the heavy equipment sector. They may be able to answer few generic questions about machines (some may even answer more than generic) but if you try to get into details, they may not be sure of their answers or opinions. A strategist in a construction company may not be able to speak a lot about the engineering part of the business and the operator will not have any idea how to handle the financial transactions. In such a scenario if one gets stuck at a point and needs some help, they have to approach the expert of that field.
Ask a person whom you can trust:-
It is crucial to have a mentor in this industry who can guide you in different stages of your career. It is not necessary that the mentor has to be an expert of his domain but he got to be someone whom you can trust. A person who will not misguide you ever and is also known for speaking things that make sense. If you know such a person, you can put your worries on his shoulders (not literally though) and pursue his guidance.
An experienced person can be real handy:-
If you get jammed with some issue and do not know how to get out of it, it is advisable that you speak to someone who has been in the line of business for many years. They have witnessed a lot of scenarios in their life and have defeated many troublesome situations. It becomes prudent to approach such an experienced person and knowing what you can do to get out of the trouble. In case, you get caught in some legal issues, there you take the advice of an expert attorney.
Become a member of the heavy equipment community:-
You can join a heavy equipment community and can read the post of expert writers, members who have been writing for years on subjects of your interest. If you need any help in particular, you can post your query and wait for someone to answer on it. These sites really work for people who are new to the construction domain and are looking for some help or expert opinions.
To know a language that is not your first language and able to speak, read and understand the language fluently is a great skill. Not many in the United States can speak more than one language. It is perhaps we are brought in a way where we have heard and taught only English. There are few institutions that teach languages spoken by people of other countries and it is always going to be beneficial for you if you are able to learn it well.
America is a country where people from various countries have come in and are living with a feeling of togetherness. They contribute big time to our society and also bring more businesses from their countries. In a situation like this, it will be handy if an American can speak their language. This will certainly impress the client and there will be not much gap in communicating with the counterpart.
Construction industry is one such industry where you got to deal with clients from several countries. You do not want to miss the opportunity of a business getting clicked just because you can’t communicate with the other person in their language. Remember not everybody around the world is fluent in English and they prefer talking to someone who knows their language.
The construction industry in US gets lot of investment deals from the Chinese and Japanese. You will not find many people from these two countries to speak in English. If you have a delegation of around 10 people, you will hardly find 2 who can fluently communicate in English. Rest will depend of those 2 guys who will later explain the conversation to them. This is perhaps not the way how businesses are conducted in a construction industry and therefore it is high time that the construction companies go bilingual.
Construction companies will not want the labor to be bilingual as they do not have the need to communicate with people from other nations. However, the guys in the Admin or at the reception should have a fair understanding on languages spoken in Europe. You should also hire guys who can speak the language of the country that your client belongs from. We have a lot of people in US who speaks Spanish and Chinese and there are also many offices who hires receptionist who can effectively communicate in these languages. This should be also followed by the construction companies. The marketing team should have people who can speak multiple languages at the same time. It is always a plus point to know as many languages as one can.
Few big construction companies have already gone bilingual. They have started to hire staff who can speak more than one language. They have realized the importance of being bilingual. Being able to speak the language of the client they already get half way through the deal. The rest they have to generate the confidence amongst the client that they have the ability to complete the work on time.