Category Archives: Business

Becoming employee centric construction company is difficult but achievable

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We all want to work with a company that not only provide us with good growth but also takes interest about the welfare of its employees. Companies that provides us with good perks and facilities are hard to get by but if we ever land up in such a company we may not want to leave it unless and until we have a very strong reason for it. Companies on the other hand are focused on earning profits. They are ready to provide their employees with basic benefits that they are supposed to as per the guidelines laid by the law of the land but there are absolutely not ready to take the extra step to look after the welfare of their employees. They understand that their relationship with their employees is quite professional and they should not add anything more to it. This is the story of almost every industry irrespective of which sector one belongs to.

If we talk about construction companies, it is harder to find an employee centric company, a company that takes initiatives keep into consideration the betterment of its employees. But the point remains is it really so difficult for a construction company to think for the betterment of its people, the same people who works all day in the scorching heat of the sun and does not complain when there is storm and heavy rainfall and tries to remain punctual even when there is snow on the roads.

These sorts of guys should be rewarded with bonuses and extra pay and this is absolutely not difficult to do. A little raise in their salary or a monthly incentive can bring a big smile on their faces. In addition to this, you can also provide them with free medical insurance. In this case, they do not have to pay the premium of the insurance and will be covered against all ailments (as per the policy of the insurance company). The insurance companies will be more than happy to offer discounts on the insurance premium if the insurance is taken in bulk. So in this way, you get your employees covered against ailments and also against any accidents that happen in and outside the jobsite. If they want to add their family members as part of the medical insurance they can do so by paying the premium from their pocket. What you can try to do for them is get the premiums discounted so that they pay an amount that suits their budget.

All these features can also act as a good retention policy as well. Your employees will not leave you just because they have found a company who is ready to pay them more than what you do. That company may not provide them with these additional features which will act as a binding force and will kind of compel them to not leave your company. You only end up paying a little extra but in return you can enjoy the loyalty of your trusted employees.

Take suggestions before starting a construction company

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Before you get into anything big that can either shape up your career or can ruin it, it is very important that you sit with someone who knows about the subject and take adequate suggestion from him. Do not do anything in haste and for something that is so crucial for your life and career you just can’t take any chance on it. You have to be more than 100% sure of what you are doing and why you are doing. As long as you do not have the answers for your questions it will not be wise enough to get into it. We all want to have a business of our own where we do not have to work on other’s instructions. A place where we can take our own decisions and will not worry about what the boss will say. But to start your entrepreneurial journey you must ensure that you know the first step that you should take.

People who start their construction business are also found to be working with some other construction company. They may not be able to give their 100% to their business but they ensure one thing and that is they will have a source of income even if the business does not work. Now there are few people who are smarter than others. What they do is they stick around with a construction company but work there for few hours in a day and the rest of the time they devote it to their business. People come out with real smart ideas but the fact is they also get some ideas from others. They take sound advices from their peers and accordingly apply their mind to come out with a great idea.

Construction sector is one such business where you will not be able to understand the entire business in one life. It is pretty complex. People who have spent their entire life in this business at times learn a thing or two and also encounter situations where they have to seek for advices. They do have a team of advisors who are experts in their respective fields and they help the owner of the business to come to a decision. So when you intend to get into something as complex as this it is inevitable to not look for advice from an expert.

If you are already working in a construction company and have great rapport with the guys who are older than you and also far experienced than you, it makes ample of sense to approach them with the idea of starting a construction company. They will be the right folks to advice you on it. Their advices will be quite in-depth and will hardly miss out on any crucial point. Right from heavy equipment to hiring competent construction laborers they may speak to you about everything under the sun. Most importantly you should ask them to advice you on how to tackle the various challenges that you may encounter. You will learn the rest with experience.

Construction workers should know their worth

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To know what we are really worth as far as our profession is concerned is a matter of pure confusion. Why it is confusing is because we actually do not know what the worth of your services is and this is why without knowing much about our worth we get ready to offer our services for a lesser price. This should really not happen because at the end of the day after having worked in a company for a couple of years when you actually know your price and also the fact that you are getting paid much lesser than what you should have been it causes great deal of frustration within yourself. Some even start to get the feeling of being cheated and then they start looking for some other organization again without knowing their current worth. It is therefore crucial to know how much you should be paid for your services keeping into consideration the talent and skill you possess and the amount of experience you have under your belt.

When we talk about the construction sector the most neglected genre of workers in terms of being the right amount of salary are the construction laborers. A construction laborer at the start of his career is paid quite low. That should be alright with them as they are gaining some experience and learning new things but as they grow a bit older in the company their package is not increased in the appropriate scale which leaves them with a poor pay package. Now as a result of this many construction laborers quit their job in the middle of a project and join some other contractor who pays them more than what they were getting. It often leaves the former company in a pickle and their project comes to a standstill.

Construction companies have taken this seriously and are now paying the laborers at par to the industry standards. The worrying part is not all construction companies are following the same route. There are still few small time companies who are exploiting the workers right left and center and the workers who do not know much about the worth of their services stay in the same company. Well the laborers should know about their rights and also what they should be paid. There is a standard rate across the industry and the companies are expected to pay their employees on those standards. The workers on the other hand should also check government websites that speaks in volumes about the rate per hour that should be paid to the laborers. Projects are completed on time because the workers work hard to get it done on time and if they are paid less then they have all the liberty to leave the company any moment.

They will also get work easily as they need not be highly qualified. All that is required from them is the knowledge to construct a building and if they possess that knowledge any construction company is ready to take them by paying them the standard rate.

Negligence of any form can turn out to be fatal in the construction business

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Right from our childhood we have the tendency to neglect things and feel that we can do it later. We just skip things for now and believe that someone else will do it for us or we will get it done some time later. We grow with the same tendency and then it starts getting costly to us. We can’t have the same approach that we had during our childhood days in our professional lives. It can have a nasty impact on our businesses and can hamper it big time. We need to take special care of things that are pending for a while and need to know the reasons why they are not done yet. Negligence of any form is fatal for any industry but when it comes to construction industry; it can become more damaging than ever. Here if you neglect important things there is every chance that it will back fire you and you end up paying a heavy price for it.

Negligence towards heavy equipment:-

Negligence of work can be of many forms. One can even be negligent towards heavy equipment. For instance, every machine do give some sort of signals become breaking down completely. Now, it is not a rocket science to comprehend those signals. One can easily understand those signals and work accordingly to fix the stuff. But if you are negligent towards fixing the machine and feel that you will do it later then there will come a time when you will not be able to get that thing to work. That will be followed by calling up a mechanic who might diagnose problems that can be fixed only if you change certain vital parts of the machine. In other words, it means that you now need to be ready to shell good sum of money on something that could have been managed effectively at the very moment you realized something wrong with it.

Negligence on part of stock keepers:-

Stock keepers are the ones who keep a stock of raw materials and whenever they feel that they may go short of materials they give an order to the suppliers who in turn transport the stuff to them. Negligence has been found by stock keepers who for some reason fail to provide orders of raw materials in time which leads to no work for a day or two. One needs to understand that the suppliers may also run out of stock and this is why it is important that you order the stuff in advance so that the suppliers have ample time to send it to you. In case of any eventuality, you do not run out of stock and the work continues. One can’t ever afford to be negligent during monsoon and winters as during these two seasons we experience numerous issues related to road blocks and accidents which can delay the delivery of raw materials. Keeping these things into consideration one must pro-actively order materials in advance and don’t fall into unnecessary chaos.

Expansion of construction business should be the goal

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For some it may have been a cake walk into the construction business and for others it must have been a tough task. For guys/gals who do not have anybody from their family in the construction sector, it is quite a task for them to set up this business and take it to the next level. For the guys/gals who find it a cake walk, they just get into this business which their family has been running for the last many years. But then there comes the challenge to maintain the business and to expand it. This is definitely not simple for either of them. Here the skill of the person who is running the business is tested time and again. You can expect lot of hardships while you embark the journey of growing your business. There are few things that one must keep into consideration while they plan for the expansion.

Take risk at the right time:-

To run a business a person has to take calculated risk. Only after keeping few very important things into consideration that the risk should be taken. One should also have the capability to foresee the repercussion just in case the action backfires and if they are prepared for it. Do not take the risk if you are not completely prepared for it. It might cost you big time. Understand the market position first and then check if the opportunity that you are getting sounds to be viable. The industry reacts differently at different times. You should be experienced enough to understand the reactions and accordingly should take the call. Taking up of new projects that you are not sure will have many takers should be avoided. They can cause enough problems to you by the time you are into it and will not see any money coming.

Take right call:-

Expansion in the construction sector is all about taking the right call. Your decision matters a lot when it comes to where it will take you in the next few years. A wrong call can have a severe impact on the overall growth and prospect of the business. This is why it is a must to analyze the situation first and not just jump the gun the moment you hear anything exciting. Big construction companies never show their excitement. They rather believe to give a good thought to every exciting opportunity that comes their way. This in turn ensures that they take the right decision and not just get swayed by their excitement.

Keep your goals intact:-

Lay down realistic goals that are achievable and try to achieve them with all your might. If you feel they are achievable then there should be no stopping for you. It is advisable to set small goals first so that you do not get stressed up in the process of achieving them. It makes no sense to punish yourself my setting bigger goals which though are achievable but not right at the moment.

Creativity is the need of the hour – show it in your business

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The growth of any business majorly depends upon two pillars. The first is hard work and dedication and the second is how creative you are. The way to present your business module to others is an art. The better you present the more are the chances of you getting more business from your clients. So every time you come up with a new idea or a thought, you need to be prepared to display it in the most apt manner that is easily understood and at the same time quite enticing for others to accept it. Many industries are having people from the creative background. They help the marketing team by using their creative minds and make the product sellable. They start by understanding the product and how it is useful to the end-user or to the person whom will buy the idea. Once they get to know the stuff, they apply their minds and come up with something that sounds logical and also attractive.

Creativity is very important in the overall construction sector. Especially when there is so much competition and every other company is claiming to be the best, it is only those companies who are creative will be able to strive to the end. They can market their products by making them look alluring and also reasonable. One more important place where a construction company can show creativity to attract clients is their website. The company’s website will contain all their information which will be accessible to the public. So they have to ensure that they make it look simple and easy to understand. Most importantly, they have to make sure that the navigational tools are well in place and the viewer does not have to spend a good deal of time to search for tabs.

Creativity is most required there because it is a tough job to keep loads of information of a company in one place and that too in such a manner that others do not find it difficult to access and can easily get down to the stuff they want to check. Simultaneously, they should speak in volume about their achievements and existing projects and that should come up the moment one enters the website. So this has to be decided and checked by the creative team.

Do not make your way of working too predictable. You should also bring a bit of creativity in the way you work. This may lead to increase in productivity and you may find things working faster than before. Creativity should also reflect on your work. For instance, if you are constructing a building for commercial purpose then it should consist of all the amenities that one can think of but at the same time you should ensure that the cost does not go out of hand. This is why you incorporate the creative brains in your team and ask for suggestions that allows you to build a commercial building at a lower cost.

Use internet to promote your construction business

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We are living in the age where businesses are conducted online. All kinds of presentations and business meetings happen on the internet. You meet your clients once personally and then whenever you need to meet them again you can do that online. This saves a lot of your time as well as of your clients’. The advent of internet has taken the world in a new dimension from where most of the things are done without the physical presence of the person at a particular position.

This mean that you can conduct a business meeting while you are holidaying at Hawaii and can also take important decisions without being present in the office. All you need to do is ask all the head of departments to join a video call where you will be updating your people about the decision and simultaneously put it on papers and fax/email it back to them. There is one more thing we can do without any hindrance on the net and that is to promote our business online. Well, you can only promote a business that are ethical and lawful in the eyes of the law of the land but that is still a possibility.

This avenue has been widely used by construction companies all over the world. They are using internet as a tool to spread their message to a large number of crowd at a time and are also getting overwhelming response in terms of people calling them up to know what their business has for them. It makes a lot of sense for the new construction companies to make use of internet to promote their business online and get recognition of people from all walks of life. Starting to promote a construction business is quite simple.

It all starts from your website:-

We live in a world where your identity is your website address. Well not literally but substantially. You have any kind of business but a website for your business comes first before anything. People give more stress of designing an interesting website for their company which looks simple and yet attractive. The web page has to be catchy. It should instantly catch the attention of the person going through it and he should find the contents in it to be interesting or else he/she may not take long to close the window and move to the website of your competitor.

Send mass emails:-

If you construct apartments or condominiums or houses and then sell it to the purchaser then it makes lot of sense for you to inform people about your project. This will allow them to pay a visit to your jobsite and check the progress of the work and then accordingly book their apartments. All that you have to do is send emails to people at random. You can perhaps target people from a specific income group. You will not mention much in the email, just few facts about your existing project and how convenient and comfortable it will be for people who buy the property. Rest you can provide your office number where they can call your company and fix a date to see the jobsite. Your work is done. Soon the footfall will increase and that is a good sign for your business.

Pros and cons of expanding construction business

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For any business decision there is always some sort of pros and cons that one has to undergo and the person should also be ready for the ups and down after taking a major business decision. These decisions can also have a lasting effect on the overall prospect of the business and therefore they need to be extremely cautious before they see an opportunity and move ahead to get it. Expansion of business is seen as one such opportunity where a person needs to be extremely cautious with that he is doing. It has every chance of firing back. However, that does not mean that companies should act reluctantly when it comes to topics like expanding their businesses. It is just that they need to be careful with what they have in their mind and need to analyze the pros and cons before they finally set their foot in it.

In the construction sector, evaluating the pros and cons before expansion of the construction business is quite crucial. A wrong call can even lead to complete shutting down of your business. There have been numerous instances where people after taking up projects in the name of expansion were not able to complete them and were fined heavily. It really took a toll on their business. There are lots of legal things that one need to consider. Every state in US has different laws and you need to consider them well before you chalk out something. Talk help of people who knows about laws. Talk to them and understand what the law of the land says so that you can protect your interest first. Expansion of construction business comes with a cost attached to it and it is important to understand those costs. You should be ready to take the chance in the first place.

Expanding your business will certainly give you high returns if things move in the right direction. You will get more work and your fame will precede you. You perhaps do not have to advertise as you will get work on the basis of people knowing your company and that is one of the most unique selling points that will drive your business. It may be real fun when you see that you are acquiring more assets and your company is becoming stronger with every passing day.

Moving across horizons is something that every construction company has dreamt. When we talk about moving across horizons we specifically mean moving from one genre of the construction industry to another. This has a lot of benefits like you can set your foot in a genre that you know has enough potential to earn you rich dividends. However, while you do so you also need to acknowledge the fact that you do not know much about the genre of work and have to depend on expert advice. This means that your dependability on others will increase manifolds. Also you got to study the future prospect of the sector in advance. How the sector has performed and how it will in the future should be known to you before you expand in that horizon.

How to start a construction business

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For some getting into a business is like a dream come true. They must have seen someone in their family doing excellent in business and since then they have started dreaming of having a business of their own. Well, starting a business and to be your own boss is a good feeling but at the same time in order to make the business a success the business owner has to go through a lot of hardships and difficulties. He can’t expect things to fall in place for him and has to strive a lot to get things in order. He may have to curtail the time he gives to his family and have to spend more of his time working. This means that he needs to be determined and foresighted. He needs to have a good understanding of the business without which he will not be able to last for long.

Construction business is one such business which demands a person to be experienced, hardworking, focused and foresighted. These qualities are not easily available in any person. One has to develop them over the time and learn from his mistakes. Just starting a construction business without knowing much about it can lead you to serious problems.

Gathering necessary licenses/certificates:-

In order to conduct any business, you need to obtain license from the governing authority. Now procuring the license/certificate can be a difficult task if you do not know how that can be availed. There are few options that you have. First you can go to the office of the governing authority and check the required documents that you need to submit to get the license/certificate and check if at all you have to pay them any deposit or fees. Follow as per their instruction and you may get the license/certificate. Second is you can walk-in to the office of an attorney who specializes in obtaining construction business license/certificate? He will guide you well with the necessary formalities and get that sorted. You have to simultaneously also look for an office space which is a pre-requisite to obtain the license. Once you have the license you can start your business.

Obtaining loan from bank:-

Here you have to do a bit of research and then the appropriate step. Construction business can’t be started with 0 investments. It certainly needs some capital to begin with. This need of yours will take you to a bank who will be more than happy to offer you a loan provided you have a good credit report and payment track record and also that your business plan sounds convincible. However, it is instrumental for you to check the costs to the bank and the interest at which they are offering you the loan. You need to do some shopping in this case where you have to get quotes from different banks and also read their reviews on the internet.

Obtaining resources:-

You have a business plan and have also managed to secure the loan. Next you need is human resources and other equipment that are required to start a construction business. Try to get the good resources. This is where your experience comes into play. Having being part of the industry for long, you will know which person is a good resource and which is not. On that basis, you can pick up the men and machines and start your business.

It is Christmas time. Shower your employees with gifts

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Christmas is an occasion of rejoice and having fun with your near and dear ones. Calling your family at home and having a sumptuous dinner or taking your loved one in a posh restaurant and having a lavish meal. Buy gifts for your family; give your child the special gift that he always wanted to have. Christmas is all about fulfilling the dreams that you have seen along with your family. Being the owner of a construction company, it also becomes your responsibility to see that your employees have a great time during this season. If you make their Christmas special they will definitely want to stick with you for long and you got to understand the importance of the people working for you. Right from the senior most persons in your company to the junior most labor, you have to ensure that you give them the best gift to make their Christmas special.

If you want to give some gifts to the construction laborers, you can give them some thick hooded t-shirts that will protect them from cold weather or probably a pair of boots. A lot of companies prefer giving t-shirts. You can also distribute a bottle of wine or sweets among them. At the same time, you can also preferably offer them some money so that they can buy some things for their family thus showcasing that you not only think about their wellbeing but also about the wellbeing of their families. This can give them lot of happiness and a very good reason to continue with your company.

One of the most instrumental persons working with your company is the heavy equipment operators. You should also due credit to them and probably give them more gifts. The operators are the ones who work relentlessly inside the cabin which at times can be quite saturating. They do not care of their aching leg and continue to do their business. These set of people deserve some special recognition and gifts and what better timing it can be than to offer them this recognition at the time of Christmas. One more thing that can be done is holding up awards function where you will be giving awards to people who have shown an outstanding performance throughout the year. You can appreciate their hard work and the efforts they have put to make the company what it is now. In the same pretext you can also give away the Christmas gifts to them and possibly throw a party just after the award ceremony.

It will be a good get-together where the families of all your employees are coming in and having a good time. They can see their husbands or sons receive awards which will definitely make them proud. After which they can have dinner before departing for their homes. This will be an unforgettable experience for each one of them. After all it is Christmas time and you can certainly shower gifts on your employees to bring smiles on their faces.