Author Archives: Kevin

How to be successful salesman selling heavy equipment

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We all know to sell and as a matter of fact we do various things in our daily lives but some are good in selling things and some are simply great. It depends on what exactly you are trying to sell. Not everybody can sell everything except for few exceptions. Selling heavy equipment is quite a difficult job and the one who can sell heavy equipment can definitely see a bright career as a successful salesman in the heavy equipment industry. So if you are good in selling investment avenues, you may find it difficult to sell heavy equipment as they are not at all related to each other in any fashion. In order to become a successful salesman, one needs to understand few very basic principle of selling and then practice those principles on a daily basis. Slowly and steadily, he will find himself getting groomed into a better salesman and then sky is the limit for him.

Having thorough product knowledge:-

This is the first and one of the most important criteria one needs to possess in order to become a successful salesman. Firstly, you need to understand the kind of heavy equipment you got to be selling and only after that you sharpen your skill by learning more about the product. Knowing the intricacies will always help you in dealing with a tough guy who knows almost everything about the machine. You will not see yourself walking out with your tail between your legs feeling embarrassed with your performance. Having good product knowledge is an essential criteria when it comes to becoming a successful salesman. It actually boosts your confidence as you know that you will be able to answer anything that’s put across to you.

Work on grooming up yourself:-

No one likes to talk to a lousy person. So if you are the guy who is least bothered about grooming yourself up, that will go against you. You may be quite knowledgeable about your stuff, confident enough to speak without fumbling or stammering but your personality speaks louder than you. If you are not able to carry a good personality and look like a lousy lad, things will not go your way. So wear formal when you go for the meeting. Make sure that your shirt in tucked in, shoes polished, hair properly combed and face clean shaved. Sport a good perfume and do not wear anything that is flashy.

Know about your competitor’s products:-

Just limiting your product knowledge to your company will not help. You also need to know the features of the products manufactured by your competitors. Do not criticize their products but you can definitely speak well about yours. So knowing a bit about them will always help you in the long run.

Understand the need of your customer:-

A good salesman is not the one who can sell anything to anybody but he is the one who sells his product after understanding the need of the customer and linking it with his product. So you got to hear him first, understand his requirements and then try to associate it with the product. This will convince the buyer and he may go for the stuff.

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Principal Questions to Be Asked When Financing Your Heavy Equipment

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Established contractors prefer to finance their bulky apparatus instead of procuring it with a huge amount of money. This financing technique brings the benefits of cash flow in their trades. If the contractors want their procured equipment to be disbursed for itself as it is being employed, then the process of financing can be a development engine for their businesses. When the suppliers desire to differentiate the asset purchase with the appointing of an employee, they crave for both so as to produce their keep at the end of the day. An excellent analogy assists the employers to get the salary of the entire year on first day.

If you take the direction of financing, it is necessary to know that all the apparatus finance contracts are applicable for agreeable tariff treatment according to the benefit of Section 179 hastened depreciation. In most of the cases, the contractors can deflate the total amount of the paraphernalia in a year as opposed to lettering it off over a five year term period. The sum of write off differs from time to time. Most of the weighty apparatus companies have more than one financial organisation to vend their equipments in profitable price. Here in the article, you will get to know the most important questions that usually determine the performance of your selected finance firm.

Is the funding company a key lender?

Many kinds of money mongers are available on the souk so it is important for you to know which type of lender is suitable for your business. Usually, brokers collect money from other loan companies to run their process of business deal. Their interest rates are higher and the contracts are unsecured. The publicly-traded and bank-possessed investment organisations are mostly preferred by the construction industry.

Current Rate in the Financial Heavy Equipment Market

Generally, every moneylender in the construction paraphernalia offers fairly same rates. Be cautious of the shortest rates because the money mongers may take other charges and fees to cover up this gap. It is essential for the contractors to find out those organisations that maintain a valuable relationship with their end clients.

To enquire about the disbursement options

It is good process to verify the authenticity of the financing concerns. The reputed funding organisations proffer flexible payment alternatives for instance 12, 24, 36, 48 or 60 months. It is sensible for the contractors to choose the long term so as to decrease the amount of monthly imbursement.

Is the financing organization proffers tax benefits?

The construction business contractors should examine that whether their desired funding organisations offer any tariff benefits or not. Most of the finance deals are based on balance sheets and depreciation. It is advisable to the suppliers to discuss the matter with the tax consultants so as to select the best financial company.

Financing is an extremely effectual method of attaining new heavy equipment while controlling the monetary budget and capital flow. Knowing, with which financial company you are working, enquiring the important queries and reassessing your contract will assist you to avert unpleasant bombshells in future.

Heavy Equipment Surplus Auction

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When we produce something in abundance and do not find many buyers to buy them. It is better that we get the stuff auctioned. It is not that people are not ready to take but it is just that they are not ready to take it at the price you are willing to sell. Ideally, people like to put a price to it. So if they know that you have the stuff in surplus and are still charging more for it, they might simply not show any interest for it but that does not mean they do not want it. They only want you to bring the price down. You either bring it down or you put it in auction so that people determine the price of it on their own and the one who makes the highest bid goes away with the item.

When we talk about heavy equipment, the heavy equipment manufacturing companies also produces machines in bulk and at times they find that there are not much takers. They do not mind reducing the price of the machines but if they still do not find any buyers, then the best option available with them is to auction the surplus heavy equipment. One should not see the heavy equipment that are there for auction as inferior piece of metal. They are as good as any other heavy equipment that is sold at high price.

One may simply wonder why heavy equipment manufacturing companies have to produce in abundant and then later sell it in auction. Well, they do not produce machines in surplus. They go as per the orders they receive from their clients. However, at times some orders go kaput and the clients back off from the order. They do not do this intentionally but they must have their own reasons behind doing this. Now, when there are no takers for the heavy equipment produced by the companies, they are compelled to sell it in an auction at a dirt cheap price. It is primarily these items that goes as surplus and have to be dealt with by getting them auctioned. In this way, the companies that produce machines get saved from booking huge losses and in the same way few lucky chaps get away with a good bargain.

Auctions can happen in many ways. They can put it up in a local newspaper so that people get to know about it or can just spread the word within their existing clients. They probably do not want to involve good chunk of people in the auction and want this to be a kind of hidden sale. They do this for 2 reasons. The first one is they do not want a large population to know that one of their client has backed off. This has have serious implication on their brand image and the second reason is they want their existing clients to have a good piece of the meat by auctioning the equipment at a much lesser price.

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No point in buying new equipment when one can get it on rent

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Construction industry falls in that category of industries that has huge requirement of finances for some reason or the other. They need money to take care of the operating and non-operating expenses, pay the workers their wages etc. They also have to check on the kind of heavy equipment available with them so that in case there is a need to get a new machine they should have the funds to go and get it. Heavy equipment are quite an expensive stuff and one got to be ready in advance and keep the funds available to ensure that the need of the business is fulfilled. Having said this, there is one point that the owner of a construction company can ponder. In case, if they can get the same machine that they are looking for on rent rather than having to buy them, it may save a lot of money of the company and simultaneously they can make use of the funds that were parked to buy the machines to take care of some other business needs.

There is however one very important point that you should keep into consideration before you rent a machine. Since you would be using somebody else’s equipment, you should ensure that the machine has all the features that you would be requiring for the project and the machine is in good shape. You should probably take an expert with you who will examine the machine before go ahead with the deal. You should not end up taking equipment for which you have to repent in the future.

Few other pointers that you should know before you sign on the dotted line.

A brief history of the machine:-

To know a few things about the machine will always be beneficial as it will help you to negotiate with the giver. For instance, if the machine has some cases of accidents then it puts you in a position from where you can demand for a deduction in the rentals. Negotiations like these are always open and the taker must be ready to take chances wherever and whenever it is applicable. Knowing the history of the machine will also give you the idea of how old the machine is and is it at par with the construction equipment that comes with the latest technology gadgets. This will help you to decide if you should be eventually going for the deal as it makes no point in renting something that is technologically backward.

Knowing the tentative duration of the project:-

You should at least be aware of how soon you can complete the project. On the basis of that, you would be renting the stuff. Always rent the machine for an additional 2 months from the tentative date of completion. You never know if things may get delayed and you have to prolong the use of the equipment. Often the giver rents the machine keeping into consideration that he may not need the machine for a specific time and if he rents it to you he may ask you to hand it over once the terms completes. So if the work is left incomplete and he asks you for the machine, you will be left in a murkier situation. To avoid this, you should rent it for 2 extra months and keep things in your control.

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Give utter priority to the safety of workers

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In any kind of industry, the workers play a huge role in shaping up the structure of the company. They are the ones who work hard all day and night and make the future of the company bright and in return it becomes the moral responsibility of the business owners to take due care of its employees. Employees working in corporate sector may not have to put their lives on risk but when it comes to the construction industry, the workers there work by keeping their lives on the edge. Construction industry is undoubtedly full of perils and one has to understand the risks he takes before he signs up for the job. Keeping into consideration the nature of the job and the risks involved, it becomes very important for the owners of the construction companies to ensure that their workers get all the safety gears that will help them to do their job with ease and also provide safety from unwanted perils.

We will be talking in length about what all an employer can do to ensure the safety of its workers.

Wearing of safety gears is a must:-

Employers of every construction companies should make it a mandate for their workers to wear all the necessary safety gears when they are at work. The most basic is a helmet. So when they are inside the construction site, they should have their helmets on them. Other than this, they should be wearing gloves and sport a dark glass when they are into wielding stuffs. They should make use of the lifts to carry the materials with them and not carry them on their back or shoulders. There are many other appliances available that can be used to give a level of protection which they so rightly deserve.

Train the workers on the importance of safety:-

Workers working in a construction site do understand the perils involved with their job. What they do not realize is that they can be safe by wearing few appliances that can bring down the severity of perils to a larger extent. This is where a proper training is required. They should be informed that by wearing those gears they can minimize the risks. They should also be trained on how to use those gears. Some may have seen the gears for the first time in their life and will not know to use them. These sorts of folks should be trained to use the gears for their own benefit.

Negligence to safety should be avoided:-

Most of the times, it has been found that workers are negligent to wear any safety gears as they feel that the work does not involve much risk. Well, this kind of negligence should be avoided. There should be a mandate for all the workers have to follow the safety parameters while they are at work. The most common form of negligence is not wearing helmets inside the construction site. If needed, there should be a person appointed to supervise if all the workers have their safety gears on and if not then they should be asked to wear it before getting their hands on the job.

Heavy Equipment EBook

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When you have the desire to learn something, you somehow manage to find the relevant resources and learn things up. Same goes with learning about heavy equipment. Knowing or learning about heavy equipment are no rocket science and one can easily understand the complexities involved in it. If you intend to learn about a specific type of equipment since you would be working with that type of machine, then you can find many books and materials available in stores that will help you to gather details about the equipment. However, the best way to learn about heavy equipment is to search it on the internet. There you will get good lot of information that you will find to be very helpful in your cause.

One of the most popular methods of learning about heavy equipment is to download an EBook from the internet. There you will every last information about the stuff you want to know and that will be absolutely free of cost. This means that you do not have to spend time looking for books in book stores or contacting anybody in particular who can deliver the details to you. All you have to do is download the stuff on your computer or tablet and whenever you desire to learn about the equipment, you got to switch on your computer and open the stuff from there. The advent of EBook has made things very simple for readers who are enthusiastic in learning things but do not have money to buy the necessary resources.

Ideally most of the EBooks available on websites are free but that does not mean that all are for free. There are few writers who do charge a nominal fee for the book. It could be because they have written the book and do not want to take the hassle of looking for a publisher who will be publishing it. So the most convenient option available with them is to upload it on their site as an EBook and try to list it on online shopping portals. In this way, they can earn few bucks just by sharing their knowledge with the people who are ready to take it from them. Alternatively, it also gives people the opportunity to read famous authors/writers who have ample knowledge about the subject they are writing on. Instead of paying more at bookstores, they can simply buy it online and can manage to keep the stuff with them as long as they want.

No fear of losing a page:-

When you have a book on heavy equipment, you got to take it with you to the construction site where you will be going through the book and operate the machine. This leaves you with high chances of tearing the pages and in this process it might become completely unreadable. On the other hand when you have an EBook, all you got to do is carry your laptop or tablet with you and go through the stuffs written on it while you are working with the machine.

Save paper:-

You save a lot of paper by not buying a book. You work your way out using the information from the EBook. In this process, you are doing your bit towards saving the environment.

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Workers working in construction sites are prone to various air-borne diseases

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We say that the human race is developing but it seems that we are making things that will cause more harm to us than ever. We make things for our ease but in this process, we forget that there are certain repercussions that we have to face and without wanting to know those repercussions we do things that affect us the most. Our environment is so polluted that every other day we get to see people dying of lung disorder, heart failure, and asthma attacks and so on. If we talk about people working in construction companies, we will find that they belong to the worst affected lots and are infected with various air-borne ailments. They have to go through a lot of dust that is so prevalent in a construction zone. Fresh air is so seldom for them and they are simply left with no other option than to inhale the polluted air.

It is not only the dust that they inhale but also the smoke that comes out of heavy equipment. Most heavy equipment run on diesel and after a certain period of time they emit smoke and intoxicants in large quantity that becomes unhealthy for the people around. There is primarily one reason why machines emit black smoke. It is particularly due to lack of proper maintenance of the machine. The equipment work for months without much lubrication and the engine oil also is not changed at regular intervals. This leads to problem in the engine and if the health of the engine is not good, it is bound to emit intoxicants in the form of black smoke.

What construction companies/employers must do to safeguard the health of their workers has become a matter of discussion and many companies are incorporating the following measures to ensure that the lives of their workers is not taken for granted.

Proper maintenance of machines:-

Intoxicants in the air are one of the major reasons for the falling health of construction workers and machines emit intoxicants due to improper maintenance. To get this fixed, the only way is to ensure that the machines are maintained at regular intervals. It is quite obvious that the operator may forget to send the machine for maintenance. Hence, a calendar must be prepared where you jot down the date when you will take the machine for a wash and get it serviced.

Procure heavy equipment that are environment friendly:-

Many construction companies are in the process of acquiring green machines that will not emit or will emit less toxic in the air as compared to the ones being used currently. Though the equipment will be expensive but will last for more years and will also not pose a risk to the health of construction workers.

Set up camps to check the health of workers:-

Construction companies should take the initiative where they set up camps at least twice in a year and conduct a complete health check-up of its employees. They should not just restrain it to the laborers but also include staff and guys from other departments.

Caterpillar clothing

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If we think that the heavy equipment manufacturing companies are only into producing heavy construction machines then it is time that we re-adjust our thoughts about these companies. They are no longer limiting their business to manufacturing heavy equipment but have also expanded their horizons into new spheres like manufacturing accessories like boots, gloves, jackets, clothing etc. They see a sizable market that is even bigger than the heavy equipment market. They can sell big construction equipment to construction companies that are engaged with projects around the country but they sell absolutely nothing to the major chunk of the population.

Now a person who work in a convenient store sees no utility of these heavy equipment companies in his life but if he is paid good commission to sell products manufactured by them they the store owner will not mind keeping some stuffs and check if it attracts the attention of the buyers. At the end of the day, it is all about keeping the customer happy and in this process making some money out of it. Simultaneously the heavy equipment producing company also reaches out to rest of the population who is not bothered about what kind of the business they are into but if they like the pattern and design of the clothing then they will buy few clothing from them.

Keeping the entire population into consideration, Caterpillar is producing accessories/clothing products that are widely appreciated across United States. They have not only managed to establish a reputation in the field of heavy equipment but are also doing well in the apparel segment.

Produces clothing that is in trend:-

The clothing manufactured by Caterpillar is indeed classy that quite trendy. They give a lot of importance to the current fashion and what people like to wear. Rather than just producing apparels without even trying to know the wants of its users, they spent a lot of their time, effort and money into doing research, trying to know what people like to wear. The very fact that they invest their time and money into doing research is what keeps them on top of the chart. Quality is another parameter where they never compromise on. They never did on heavy equipment and like to keep the same attitude as far as the clothing segment is concerned.

Clothing for construction workers and employees:-

They are also into manufacturing clothes for people working in the construction domain. Right from workers to staff members, they have clothes for everyone. They manufacture clothes that are cotton rich so that workers working under the scorching heat of the sun do not feel terrible because of improper clothing. They understand what suits them better and produce clothes accordingly. The clothes are mostly airy and not tight to your skin and offers ample comfort to the end user.

Clothes are available in all major apparel stores:-

Availability of CAT clothes is never an issue. You can get what you want in any major apparel store. They are absolutely not overtly expensive though they may seem to be and will definitely not burn a hole in your pocket.

Hire, Purchase or Lease – Which One is better for Your Next Heavy Equipment Investment?

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Presently, construction industry is blooming but in a slow speed. In this situation, is it better for a construction company owner to lease, procure or rent a bulky paraphernalia? According to Peter D. Gregory, the senior vice president of the reputed construction group of Atlanta commented that right now the condition of the market is tentative that’s why the construction company owners are hesitating to procure heavy equipment or go for leasing deals. Yet, the construction concerns still require bulky paraphernalia to accomplish their task on the site.

In large organisation, the construction business possessors hire equipment managers and chief financial officers to give suggestion on the issue of renting, leasing or purchasing the heavy equipment. On the other hand, in the budding construction firms, the owners alone take the decision. The presidents of some of the well-renowned construction companies stated that the decision entirely counts on the financial condition of the organisations. To determine, which one is the most suitable one needs some logical prediction and forethought. Here in the following piece, the readers will come to know the difference between the buying, renting and leasing a heavy construction equipment.

Renting, Purchase and Leasing Options for Construction Site Contractors

Rent option helps the contractors to save their capital. Often, they choose the option of renting when they require a specific item for a particular task. Some of the well established construction merchants stated that renting is more costly than lease and purchase options because it provides flexibility to the clients.

When the contractors procure heavy construction apparatus, the dealers not only proffers instant ownership but also subtracts the depreciation cost of the equipment. The interest the possessors get form the deduction helps the construction firms to conserve their tax amount. Majority of the construction organisations prefer to buy heavy equipment parts as it adds as a valuable asset in the in the balance sheet. But, the majority of the budding construction owners prefer to go with the lease option because of the Alternative Minimum Tax (AMT).

Lease is yet another option that is facilitated to the construction company owners by the dealers. It is the best choice for those organisations which are not efficient enough to utilise the depreciation. Other than ownership, this option also provides usage pact with typical no money upfront quality.

Comparison Between Lease, Rent and Buy of Heavy Construction Equipment

For long term use, the charge of the lease is much lower than the renting cost. Therefore, it is sensible for the contractors to avail the benefits of leasing heavy equipment for long term basis. If the construction company owners desire to attain the equipment, then the outright purchase technique is more economical to other alternatives.

On the other hand, for short term purpose, the option of renting heavy construction apparatus is the best. If any construction concern owner wants to go with the buy option, he/she should asses some factors like time duration of the application of the equipment and its maintenance cost.

To sum up, it can be said that all the above mentioned options of availing the benefits of heavy equipment are beneficial to the construction owners unless and until they have the skill to attain it in proper way.

 

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Don’t Let Your Dreams Die Due To Scarcity Of Funds

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We all have dreams in our life to become rich, to pursue the career we always wanted to, and to live a lavish life having all its luxuries. Well these were just about the dreams we all have but in order to fulfill them we have to work real hard. At times, simply working hard is not sufficient to get what you want; you need to do a bit more than that. For instance, a person working in a particular sector now wants to start a business of his own in that sector. However, due to lack of funds, he is not able to. Though he knows that if he is given the opportunity and the money to kick start a business he intends to do, there is no looking back for him but just because he doesn’t have sufficient amount with him, he can’t take the leap forward.

There are many individuals who are capable of starting up a business of their own but just because of scarcity of funds; they stick to what they are doing rather than taking any risks in their lives. What is perhaps suitable for them is to approach a bank and check if they can give him a loan to meet his financial requirements as far as his business is concerned.

There are few things that are very important to do before you approach a bank for loan. We would be discussing them and understand their importance respectively.

How well do you know your work?:-  Before you start up a business of your own, it is important that you analyze how well you know this business. You should never see yourself in a situation where people are taking you on a royal ride and you can’t do much about it just because you don’t know much about the business. This kind of situation can be very harmful to you and therefore it is very important that you take some time to first learn your work and then think of setting up a business of your own.

Availability of businesses from clients:-  Availability of clients plays a significant role in shaping up your business. Your business entirely depends upon the sort of network you have and through that network, how many clients you can get for your business. You may have just started up your business and have no goodwill in the market. It is probably the network thing that can earn you few businesses for the mean time and then once you have established goodwill, you can cash it on by acquiring more clients.

Research on which bank offers loan at low rate of interest:-  Different financial institutions charges different rate of interest to their customers. It is prudent that you first understand the amount you want to borrow and then do some research on the banks which provide loans at lower rate of interest. You will definitely get hold of something that you never knew about.

Availing loans can secure your dreams. It’s just that you got to be a bit careful while you select the financial institution from whom you’d be borrowing the money.