Tag Archives: Construction Company

Market your work to big companies

In the construction sector it is all about getting new projects one after the other. The moment you are done with one project you should ensure that you have another one in hand or else your labor will be idle. Although most of the labor force comes from the union but at times you hire the cream and make them a part of your company. So you can’t afford to be out of project at any given point in time. If you are a small construction company and have always taken up small projects, it is perhaps the time that you begin to try to get work from big companies.

Big construction companies usually require small companies and contractors to work on their project. They deploy very few of their labor force at work and give contracts to other small companies. It makes sense to take up work from them. This will give you the much needed exposure that you need to grow as a company.

Create a strong profile of your work:-

Before you approach to any of a giant construction company, you need to make sure that you have a strong profile of your company to put across. These big companies do not give contracts to any lay construction company. After all it is a matter of their reputation and they will not do anything to put it at stake and hence will acquire the best resource to complete the project. Now you have to prepare your profile in such a way that by having a glimpse of it they should appreciate it and should feel proud enough to have you as a part of their institution. You will ideally go to them with a Power-point presentation where you will mention the key projects that you have completed and your role towards the completion if you were not the sole player. Also talk about the types of heavy equipment you have at your disposal or can acquire them if you come across a bigger project.

Your experience should talk about you:-

If you are a company that is into the business for the last few years then you should talk about your experience and the different types of work your company has got into. If you specialize in a particular genre of work then that should be highlighted and spread it across the board that they will not find anyone doing the same work better than you. Design a website that looks professional and speaks volume about the construction world and also about the projects that you have been associated with. These big companies need you. All they want to make sure is that you are the right guy for them and this is exactly what you also need to pass it across to them.

The project undertaken by these giant companies last long which means that you are in business for that long. By the time you are associated with one such company, try to reach out to other companies by displaying your role in the current project. It will really help you to get new work.

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Periodical trainings may help employees to perform better

It is perhaps not heavy equipment but the human resource that plays a pivotal role in the making of any successful business. The employees of a company can shoot their productivity to a new level if they are happy and content with the treatment that they get by the company and also by their bosses. The role of the management will be to ensure that the employees are well trained and can complete their work with utter accuracy. In an industry like construction, the role of the workers is very crucial. Right from the laborer to the civil engineer, they all require adequate training to understand what they are doing and how crucial their role is in the company. This also gives them a sense of importance and they take up their responsibility quite seriously. Even the guys who sit at the top require training on how to handle the labor force. The guys in the management have a bigger role to play in the overall performance of the company.

Construction laborers once they go skilled get ample of opportunity in almost any construction company. It therefore becomes the responsibility of the management to ensure that the guys do not leave the company for trivial reasons. Now to lower the attrition is a challenge that many top level managers find difficult to counter. In a construction business, it is not just the labor but there are many other people who hold such important departments that make the job of the top level managers tougher to hold them back. This is where their training comes into picture. These guys should be trained on a periodical basis on how to handle the vast labor force and ensure that they do not leave the company and stay productive. Keeping everybody happy is a difficult task and also requires lot of skill. The top level managers should be trained to acquire those skills and keep the guys happy.

Training the staff is another crucial segment that should not be skipped at any cost. The people from the Admin, HR and other such crucial departments should first understand the importance that the department holds and the positive impact that they can have on the people belonging to other departments. They should then be trained on how effectively they can make the working atmosphere in the company livelier. Organizing a small function or a health camp right on the jobsite can have a huge impact on the workers. The guys should be trained to come up with innovative ideas and put them to effect.

Lastly the laborers should be trained regularly on issues like health and safety. These are probably the most neglected areas that should be addressed. The trainings should be scheduled once every fortnight or once in a month and the attendance of all the employees should be mandatory. The employees will learn many things in this process that will help them to grow as a person and also in their career.

Review of strategy is important for the growth of a construction company

We often consider planning to be one of the most important components towards the growth of a business but there is something that is equally important and that is reviewing those plans. It makes absolutely no sense to prepare a plan if we do not take care to review it. Things may go haywire and we will not even get to know about it as long as we do not sit to check the ground reality. This is why reviewing the plans is very crucial for the growth of any company. It becomes all the more important when one is take care of his construction business. This form of the business has too many ups and downs in it and one has to go through a lot of hardships to put everything in place. To set things right, a lot of people have to get involved in various sets of planning and knowing the nature of the business which is pretty dynamic and where anything can happen at any moment, one needs to make sure that he keeps on checking if the actual are in sync with the proposed plan and if not take corrective measures to set it right.

Involving all the head of departments for setting the plan:-

When you are building a plan, it is essential that you involve the heads of all the departments so that they can all give their inputs pertaining to the cause of the plan. You can have deep insights from them about how the department can perform and if there will be any requirement of additional workforce in the due span. You can rely on their advices and then go about framing the plan. In this way, they all will be aware of your goals and then it just will not be your goal but will become the goal of the company. It is not just you who will be working hard to realize the goals but your entire team will be with you.

Have a quarterly meeting with all of them to check the actual:-

Reviewing of plans should be conducted once in 3 months. This lets us know the real picture from the proposed one and what needs to be done to get things back on track if at all it is out of place. It also ensures that things do not completely out of hand which is possible if you take up the same meeting after a year. You will probably find that the damage has become irreparable and may have to start all over. That will be a sad part for the management also a question on your leadership quality.

Check area of opportunities and eliminate threats:-

It is only during the review that you get to know the possible threats that exist and can act as a big danger to the project. You can’t get to know the threats while you chalk out the plan. In the same way, while you start working on a plan you also come to know if there are any more opportunities that you can explore. Pick up all the opportunities and try and eliminate the threats.

Building finances for your construction company. Does it take time?

Construction is a multifaceted industry and a risky business. It requires huge financial investments, which get returned as profits much later. Thus, it is an expensive business which offers delayed benefits. The construction project cannot proceed without adequate finances. Hence, the owner of construction facilities must obtain reliable capital resources to finance costs of construction. The owner does not just work on one project but numerous projects which are all financed together. In addition, there are other problems such as budget overruns, unreliable contractors and delays. If the owner is unable to cover costs, the capital investors face financial problems.

However with a pragmatic approach, owner of construction industry can build finances (achieve profits) in less time. Some of the guidelines for the same are as follows:

  1. The owner should be aware of the amount of work to be undertaken. Further obtain knowledge of the technical skills required which will enable to calculate the correct cost of construction project. Thus he should define goals and set expectations. Emphasis have to be on long term planning. Setting expectations enhances confidence of both clients and employee’s in the owner.
  2. Generally it costs less during planning and designing of the project but involves substantial expenses during construction. Instead of giving importance to sales, and getting deals, owner should develop understanding of the financial aspects and costs involved in the construction project. They can also hire appropriate project managers and financial consultants to understand the actual costs incurred by a project.
  3. Estimate the true profit by considering overhead costs, risks and job costs.
  4. Managing the job production to achieve profits: the job should be done in the cost-effective manner to make profits. Changing daily orders of operation and determining the productivity of labour force. When the work to be completed in 2 days, takes 6 days, it incurs additional costs. Thus jobs should get delayed.
  5. Accounting for profit by employing a project manager who keeps track of the budget and purchase orders. He has accurate knowledge of the expenses since he is present on the site. He applies construction specific accounting knowledge.
  6.  Since education always helps, hence training to be given to labourers, employees and management professionals.
  7.  Emphasis on written procedures (SOP) is important. Procedures should change improve. They should be evaluated periodically.
  8.  Effective Good communication with employees is valuable and necessary. They result in strong relationships with all parties and frequently result in future referral business.

Overall building finance in construction industry takes time. Following the above guidelines will enable the owner to develop business skills to reap profits in less time and have sustainable career in construction industry.

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Heavy Equipment Articles

Having a mixture of immigrants is healthy for your construction company

United States is a place that has people coming from all walks of life and they come to this place to have a decent life. It is probably the only country in the entire world which has people coming from different countries to make their dream come true. On an annual basis, US is seeing an increase in the influx of immigrants. Some skilled, some semi-skilled and some unskilled labors constitute the total population of immigrants in this country and strangely they all are able to find a job for themselves. It seems that the construction industry also has a healthy strength of immigrant workers. Since this industry does not need a lot of skilled labor, therefore it does well with semi-skilled workforce. The only criteria that the construction companies have for them is that they should be hard working and should give their 100% to the job.

Now how the construction companies benefit when they employ immigrants in their company. There is a scarcity of labor as many consider this part of the job to be perilous and hence you will find Americans holding the top position where their job is to give instruction to the laborers and also supervise their work. In case, things are not going as per the plan the supervisor will be taken to task. But it is not that the labor workforce is only occupied by the immigrants. You will also find Americans in this club. Usually construction companies are of the opinion that just hiring immigrants as workers can be a bit problematic as they want to give equal opportunity to all and therefore feel that it is healthy to have a mixture of employees constituting your workforce.

Immigrants are paid less as compared to their American counterparts:-

It has now become an open secret that the immigrants are paid less than what the companies had to pay to the Americans. This becomes highly cost effective for the company especially during times of turbulence. The construction market is not always flourishing and there are times when things take a bad shape for the overall sector. This is when the construction companies continue doing business by paying less to the immigrants. Having said so, this does not imply that they exploit them to the core. They are provided with all the other facilities that are given to the resident but are cut short on the wages part. The company in this way is able to save a lot for the hard times.

Immigrants are ready to work beyond the working hours:-

Not every person in the United States readily works beyond his working hours. Though they are paid extra for working after their shift, people are still reluctant to do so. However, the immigrants in this case are more than happy to work and earn some extra money. They are probably without their families and are here with the sole purpose of earning more money. Anything earned in addition to the wages is an incentive. Though government has now made the visa rules quite stringent and construction companies are finding it hard to employ more immigrants. It needs to be seen how things will shape up after few years.

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Be ready to pay heavy penalties if fail to protect the workers

An employee joins a company expecting that the company will protect his interest and he will work in a safe and sound environment. But if the employer does not follow the safety norms and plays with the life of the employee, such employers are bound to pay heavy penalty for risking the lives of its employees and should also affect the license to conduct any further business. This law should be applicable to every industry and should not be industry specific.

Also, there should be a governing body which will regulate the laws and will work for the larger interests of the workers. The law of the land should also be stringent enough and the convicts must be dealt severely. Here in US, we have quite stringent laws when it comes to protecting the rights and interests of employees and if an employee meets an accident that happened due to employer’s negligence resulting to the injury or death of the employee, employer should be ready to face the brunt of the law.

Construction companies in US have to be particularly sure that they are providing all necessary safety accessories to the workers because if they fail to do so and if it results in an accident the company will have to pay the price for it. Construction sector is by all means is considered risky for its employees. Right from operators to engineers and welders to construction workers, none of them are safe as long as all the precautionary measures are followed by the construction company.

Penalties can lead to thousands of dollars:-

If there is an incident that occurs on the jobsite which results to grave injury or death can lead to severe penalty on the company. It will have to pay good sum of money that can be thousands of dollars to the victim of the accident. Therefore it becomes extremely crucial for the construction company to ensure that it provides safety accessories to one and all. No employee whether permanent or contractual will work without wearing proper safety accessories. The contractors need to ensure that the safety measures are followed and that no employee violates safety procedures. If an incident takes place, the company not only loses a valuable resource but also good sum of money.

License may get cancelled:-

A construction company also needs to keep a thorough check on the number of incidents that has happened on the site. There are chances that the company may lose its license if it fails to follow the safety norms and if the numbers of accidents are on the rise. The law of the land is quite strict when it comes to things like these and no one can play around with the lives of young men irrespective of the nature of job that they are in. One can understand the consequence of the license getting cancelled and the amount of loss the company will have to bear.

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Hurdles one faces while setting up a construction company

Starting up any new business is a tough task. It becomes tougher for the ones who do not have much or any experience in handling the business thus making the entire process extremely painful. In addition to this, it become arduous to keep the present business running as there are chances of facing severe ups and downs in every phase and leap that you take. Like any other business, setting up of a construction company is filled with risk and hard work. You also need to be foresighted and got to assume things appropriately so that if you see a threat you can counter it in advance.

Hurdles are plenty in the construction industry. However, it also gives you a ray of hope which is more than enough to sustain in a dynamic industry like this. So the crux of the matter is how well you can adapt to the ever changing phenomena of this industry and how quickly you can recognize the internal as well as the external threats that may destroy your dream of owning a construction business.

Legal concerns:-

While setting up a company, there are a lot of legal formalities that one needs to complete without which it will not be possible to run a business in US. These legal formalities can be lengthy at times and therefore you need to know the right way to get your work done at the shortest possible time. You might want to take help of an attorney who will guide you with every step and get things done for you. Getting sanctions from the government may not be a huge hurdle but it definitely takes some time of yours to get you started.

Setting up an office and a small team:-

Once you have received the sanctions, the next step will be to set up an office and also have a small team in place. You got to hunt down for a place that you can use it as an office and also recruit few men who have worked in the construction industry. If you have little experience in this domain, you will be able to pick the right guys but if you are a newbie then things might get really complicated.

Buying heavy equipment:-

In order to get a small project, you need to have a couple of heavy equipment. Now you have the choice of either buying them or taking it on rent. If you plan to buy them you have to shell out good chunk of money but if you take it on rent you need to ensure that you have sufficient reserves every month to pay the rental amount. Other than this, buying the right machine is always a challenge especially if you are going for second hand ones.

Running the office:-

You got to pay salary to your team and also meet the office expenses that will recur month after month. This means that you got to have ample reserves in hand. It is to be noted that you do not get a project the next day you set up your office. It takes lot of time to get some small work. So maintain your business becomes a big hurdle.

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Making of a mighty construction company

Construction is a lucrative business. Although many entrepreneurs start this business as, yet it is only 10% who make it very big in terms business to become brand names. These construction companies do not achieve success overnight but they have done diligent business planning to become ‘Mighty’ in this field. Experts have observed some common traits among these super achievers as:

  1. Clear aims and objectives: They know what they want to achieve and have noted it down and hold onto that vision. They are aware of their mission, vision and values. This allows them to maximize resources of time, energy to achieve big monetary returns in future.
  2. Planning: Construction involves a lot of work and it has to be done with a responsibility. They understand the importance of planning, systems, and processes need to be place in business. They plan their work to perform it systematically and they also work according to their plans to be successful.
  3. Updated: They are aware about the market trends in construction and try to adjust themselves as per the situation. They also spend time with people who will support their ideas and from whom they can get suggestions. They participate in healthy discussions to be successful in their ventures.
  4. Well-qualified professionals: They hire excellent staff and managers for smooth and effective functioning of organization. They pay them well, train them in latest technologies and give them good work-life balance. They also hire the right type of people who will perform their work very dedication. They know that hiring of cheap labour will lead to mediocrity and work will suffer and will lead to loss in the future.
  5. Designing Effective Business Strategy: In order to win over rivals in business, they have make appropriate preparations and checklists. They always provide excellent and superior quality service. Further, they know strengths and weakness of their employees. Employees are informed about their weakness and are suggested to be improved.
  6. Defensive business strategy: The costs cover the equipment, vehicle, labor, registration or business licensing, surety bond, and insurance requires a lot of finance. They do not depend on loans abut have saved enough which ensures that this excess money will help them in difficult times.
  7. Effective sales and marketing: Just providing good services is not enough, as its awareness has to be created. Hence, they hire good sales people. In addition, they also get onto social media such as Facebook, Twitter, and sending text messages to get into business leads.
  8. Business Transactions: While performing different transactions, they are diligent and vigilant. They do not sign on any papers to avoid getting them into trouble.
  9. Customer satisfaction: Since they value their customers, they listen to them, reply to their queries and concerns about product. They try to modify or improve their services to please the customers. This increases their customer base. They value professionalism and empathy which makes them customer loyal and successful in business.

Overall while making a mighty construction business they are aware that is a multidimensional business which requires a lot of planning and detailing to ensure success.

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Water crisis can have serious impact on the construction industry

This summer has dried up many lakes and water bodies in many parts of the country. Not only US but many countries all around the world are facing severe water shortage and are finding it difficult to sustain. Agriculture sector that depends primarily on rain water is not doing well because of acute deficiency and most likely the prices of agricultural products will shoot up considerably in the coming days. So is it only affecting the agricultural sector in a major way or are there any other industry as well that is being hit hard by this issue. Water which is such an important component in our day to day lives, scarcity of it can affect many industries and some of the most profitable industries can take a backseat as far as their businesses are concerned. One such industry is the construction industry can is currently facing the brunt of water shortage.

Water is required in immense quantity in a construction site. Not just for keeping the employees hydrated but also for other purposes like mixing cement with sand, spraying water on the ground to restrict the flow of dust on the site etc. It is also required to clean heavy equipment and lot of water is required for that purpose. Fluctuation in the price of fuel has a big impact on this industry but shortage of water can have ever lasting impact on many big construction companies. You need fuel to run heavy equipment but you need water to meet every small need of yours which can’t be compensated by any other component. Countries in the gulf are paying a heavy price to port water from their sources to the construction site which is why the prices of the final product is relatively higher.

A big construction company has to spend a lot on aqua and if it is in crisis then they may even experience shutting down of projects. His workforce will need water to drink and if he can’t even provide that basic necessity he will soon find people leaving his company. But the fact is drinking water has never been such a big issue in this country. The construction labors are able to get drinking water while they are at the jobsite. The problem is with water that is needed for construction purpose. There they might feel the pinch and it will definitely pain a lot.

Many parts of Asia and South America, the construction sector has already taken a backseat due to scarcity of water. The government in some countries has curtailed the use of water for construction purposes which had a big impact on the overall sector. Though they understand that the crisis is not going to be forever and till the time it does not rain, the problem might remain. However, once it starts raining, things might come back to normal. But the important part is to sustain till the time it is not monsoon.

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Starting a construction company in another country

Starting a business in your home country may not be a bigger problem as compared to doing it in an alien country. You know the rules and regulations that is required to follow if you want to start a business in your country but the rules changes when you move out of your country to some foreign location and think about starting your business there. Though it may sound difficult but there are many companies who have managed to successfully set their base in a foreign land and are doing really well out there. Starting a construction company may sound to be a difficult job but as a matter of fact many countries want foreign enterprises to come to their nation and be a part of their success journey. In return you can get to use their resources and also make good money out of the deal.

Before you think of setting up your venture in some foreign land, there are few things that you should know and implement it in your strategy.

Importance given to the construction domain:-

It is important to know the government’s determination and thoughts about the construction industry as a whole. Governments in some countries may focus on agriculture more than anything else. So it will be futile to set up a construction business out there. So try to know the government’s agenda for the nation before you try to set up anything out there. Some countries are rich in minerals so setting up a mining company makes lot of sense. For that you need to have a bit of experience in the mining industry or you know someone on whom you can vouch and can make inroads in that country. Many African countries are rich in minerals and they can prove to be a great destination for mining companies. They can see a lot of potential out there. As far as construction is concerned, there are many Gulf nations where you can set your business and can expect you go a long way.

Employment opportunities to their people:-

Getting permission may not be difficult if you can manage to convince the government that by allowing you to establish the construction business on their land, it will create lot of job opportunities to its people. It will also lead to the usher of other sectors. For instance, you can construct a pharmaceutical company or a commercial complex which will further employ more people. It is a kind of win-win situation for both of you. The government will for sure take this point and you will get the sanction to start up your company out there. You should also consider the taxation laws of the country and check if you can get any sort of concessions on it.

Legal advice is important:-

Every country has its own legal hassles when it comes to setting up a business. So you need to hunt down a competent attorney who can guide you through the different laws and advice you on how to avoid hiccups that may come your way.

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