Category Archives: Construction

Success tips for small construction companies

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We all believe that nothing can substitute hard work. People who are willing to work hard can achieve success. But just working hard can really make you a successful person is a question that many ponder but yet to come up with an answer. No doubt that one needs to work hard but that is kind of pre-requisite. In today’s time where you see enough competition across all industries and where everybody is willing to work hard and give their 100%, you need to do something extra that will display you in a different league. We all want to know what is that “Something Different” that is required to do so that we do not end up one amongst the crowd. There are some tips that people follow which makes them different from others and eventually helps them achieve success.

Small construction companies who dream to become big someday or the other need to follow certain tips religiously. These tips will help them and for that matter will help anybody who has a startup company and wants to see it to grow.

Don’t venture into something that you don’t know:-

We know that guys who have the ability to take risk will benefit the most in the construction business but that does not mean that you take unnecessary and unwanted risk. When we talk about risk taking ability, we mean guys who have the ability to take calculated risk and you can take calculated risk only if you know the stuff that you are getting into. Never get inside a tunnel without any light. You will end up bumping. If you come across an opportunity that you feel is a bit challenging but also prolific, try to know more about the opportunity. Also analyze the pros and cons before you dive in. Try to know as much as you can and take advice from people who know about the stuff.

Invest your money wisely:-

Investing your money in your business should be backed by thorough research and a couple of good brain storming sessions. You will come across lot of opportunities but it is you to decide which one you want to pick and which one to duck. Every opportunity may sound to be enticing but it also has a catch along with it. You got to understand that and then need to prepare yourself accordingly.

Stress is lethal for success:-

If you are overworked, it is bad but if you remain stressed all the time, it is worse for your business. An owner of a construction company goes through lot of ordeal and that is perhaps the part of his job. He needs to take his work seriously but should not feel stressed. Stress will block your ability to think rationally and this is where you begin to take decisions that are not healthy for your company. So relax and enjoy every moment of your work even if you incur loss in your business. Do not let it affect your mind. Just remember the mistakes and try to repeat it.

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Construction and productivity

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Productivity is given a lot of importance and weight in any form of an industry. At the end of the day, it is production that matters the most to everybody. Nevertheless, the importance of quality can’t be brushed aside as it also plays an important role in the making or breaking of any company. We can be in any form of an industry, as long as we are not productive, we do not justify our package. A person who is good in quality but poor in productivity may not stay for long in the company. He may know his work and is also good in it but he is then expected to deliver. If he fails to deliver then his knowledge pertaining to the work will be of no use to the company. There are some sectors which makes profit predominantly on high productivity. This means that if the company fails to generate high productivity, it will eventually fail to generate profits and soon will be the day when it will have to wind up its business.

The construction industry is one such business where productivity and profit goes hand in hand. One can’t draw much distinction between the two. Productivity in this case does not limit itself to making more and more of tall rises and apartments to sell. It also means the day in and day out work. Tall rises and apartments are the end products and is perhaps the result of your daily productivity. So it is the daily productivity that matters the most. There are few things which a construction business owner should always keep in mind to enhance the daily productivity of the business.

Keep the enthusiasm high and maintain it:-

When you keep doing the same thing day after day, you tend to lose the enthusiasm from your work. Your work become quite monotonous and you feel like leaving it and start something new or learn something new. A business owner should be aware of this and should engage its workers with different kinds of work in order to keep the level of enthusiasm high and running. Other than that, there should be refreshment rooms for the employees so that they can go and do some activities that will enhance them as an individual and will make them a better person. They can read books on various subject and definitely books on construction so that they can keep themselves abreast as far as the construction world is concerned. By doing so, the employees will feel refreshed and will work more which will lead to higher productivity.

Monetary incentive is a big encouragement:-

We all work for money and employees in a construction company will work for more hours only if they are compensated with high monetary value. There are many companies who does not provide much recreational activities for its employees but give handsome incentives and bonuses. The employees stick to the company for years as they continue to get good money in terms of incentives and bonuses.

Challenges most small contractors experiences

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Like many other industries, construction industry is one such sector where beginners have a tough time while they give a start to the business. They got to understand the tricks of the trade and then play the game keeping its rules into consideration. Apart from this, there are always big companies that are waiting to eat up the small budding ones. They do want much competition to their set business. However, it is not always that you experience a direct threat from the old players but many have bitter experiences as well. Small contractors who are primarily fresher and do not know how to run the business can face horrendous situations due to their inability to tackle them.

We will be talking about some generic challenges that most newcomers experience and what can be done to do away with those challenges and end up becoming a successful entrepreneur.

Knowing the business:-

It is very crucial that you know your business well before you get into it. This does not imply that you should know everything about it. This may not be virtually possible for someone to know everything about his business first and then get into it. We all learn while we do something but before we start doing something as important as getting into the construction business, we should know the pros and cons of the business. You can talk to industry specialists about it and take guidance from people whom you can trust. Try to generate contacts with people who have been for a while in this industry. You can expect some good advices coming from them which might help you to steer your way in this business.

Do not overspend on anything:-

You need not have a swanky office if you intend to become a contractor. A normal office will do. Clients check your work history to give you contracts and not the sort of office you have leased. Also, do not go on a buying spree for heavy equipment. They form an integral part of the business you are getting into but your selection should be on the basis of your requirement. You can also take machines on lease. So you do not have to necessarily buy heavy equipment to work. You can take them on rent and fulfill your purpose. Many budding contractors seem to do this mistake and repent later.

Do not fall for offers that are unethical:-

If you are new to this business, you will meet people who will give you offers that may not be ethical but definitely alluring. You might be in desperate need of work and may consider it to be a wonderful offer. But this can be a trap and might end your career as a contractor. By no means should you accept any offer that goes against the norms of the law of the land how enticing it may be. You got to patient to get business. Showing any form of desperation can go against you and can lead you into serious trouble.

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Rain and Construction Jobsites don’t mix

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It becomes very difficult to work on a hot summer or on a chilled winter in a construction jobsite but it is nearly impossible to work during the monsoon. When it rains heavily the entire jobsite is full of dirt and water that workers find it extremely hard to work. Operators are also unable to operate their heavy equipment in the muddy water. Moreover there is always a risk posed to the heavy equipment if you force your way inside the marshy land. It is definitely not the right thing to do if you are concerned about your machines.

If you are laying the foundation for a high rise building, you have to dig deep inside the ground. Now if it rains, it will cover the entire place with water. The solution to this will be to remove the water completely through some water suction equipment and then finish the job. Now the problem is once you begin to remove water from the ditch and if it rains again, it will once again fill the place with water. So you may have to wait and see that it does not rain for a week’s time so that you can continue with the same process and then complete the work. In this entire process, you have lost a lot of your time and money just to remove water from the ditch. You may also have to depend a lot on the metropolitan department for their predictions. However, it is just mere predictions and can be wrong as well.

Moving our focus to heavy equipment and how rains can be a game spoiler when it comes to your expensive construction machines. If your heavy equipment is not well maintained and not painted, there are high chances that it may begin rusting. The skin of the machine will come off from its layer and it will look shabbier than before. You have to spend some money on painting it in order to give it a new look. Other than that, there is always a chance of dirt making its way inside the machine and getting settled in there. Also many people are of the opinion that it is a big waste of money to clean or service heavy equipment as it will become dirty the moment you start using it in the rain.

It will also affect your business big time. A lot of your work will remain pending because of rains and if it is incessant then it makes matter worse for you. You may work on strict timelines but incessant rains can force you to alter your plans and change the deadlines. It is never easy to change deadlines and if you do so you, it comes with a lot of ramifications. It also has the potential to tarnish your goodwill. Many construction companies have found that rain and construction jobsites just do not mix well with each other and it is therefore for the best interest of the industry and also of their individual companies that they try to keep all unimportant tasks during the monsoons.

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Heavy Equipment Guy

Being customer centric will help you grow in the construction business

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Customers are considered as king of the market. The makers of products produce goods on the basis of the wants and demands in the market and the wants and demands are of the customers. This means that they have to produce items that are in trend and are liked by people at that time. Though trend keeps on changing so once the trend changes the makers also have to switch to the next trend that making buzz in the market. They always have to be on their toes to meet the needs and demands of the customers. While they are meeting the needs of the customers they also need to pay good deal of attention to the fact that they provide them with exceptional quality or else customers always have a choice and they can move on to the next provider. You will only end up in losing business simply because you did not give much importance to the quality of the product.

In the construction domain, the voice of the customer plays a very crucial role in the growth of a company. They may have the best heavy equipment and may use top notch materials to build the buildings but at the end of the day they also need to check that whatever they are constructing, is it as per the wants of the customer and does it goes with the trend of the time.

Knowing the pulse of the customer is important:-

For the survival and steady growth of the construction company, it is very important that they first try to read the pulse of the customer. Check what they can do to make things better for them and accordingly build something that should not be less than exceptional. Customers should feel that they have got the worth of their money and you in turn build reputation from your good work. Getting new businesses in this domain becomes difficult when you do not have goodwill backing your company. If you are into building apartments for people to live, your reputation will speak about you and therefore people will book the apartments right from the period the building is getting constructed. You can achieve this reputation only if you can read the pulse of the customer properly.

Provide them with state of the art amenities:-

When you sell apartments that have state of the art amenities, it sells faster. You can market the apartments on the basis of the amenities that you will offer to the general public. Knowing on what you will offer, people will be interested to book their apartments in your building. This also acts as a brilliant marketing strategy that will drive many to go for apartments constructed by you. You can also charge them for the luxury but that should not be exponential. You should not be money oriented but should be more customer centric. You should quote the amount that gives you your profit. If you try to become greedy and quote higher amount, people will look for someone else.

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Challenges contractors face in the construction business

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Every business has its own ups and downs and people who own a business have to go through several challenges in order to survive in it. Similarly, construction business is all about taking up challenges coming from various corners and turning every calamity into a possible opportunity. Well this defines your character and the temperament you have got. This will also define if you will be able to carry on for long in this industry. Many join the construction business thinking that it is easy money. People who think this way have never been a part of this industry before and one who has been a part will never think this way.

They fear to broaden their horizons:-

Some contractors are doing marvelously in their area but when it comes to expand their business and move to other states, they catch cold feet thinking about it. They may have to overcome a lot of difficulties and uncertainties but that is part of the game and since they have created their comfort zone in the place they are operating then someone else might come there who will be a bigger player and might eat up the small fish. This is a stark reality of this industry. No one is secure in this form of a business and this is why it is important for contractors to expand their wings and think of flying higher. Differences in regulations and laws between the states will persist but when you start to get into it you will find that most of the laws of the other state that you are venturing in is the same as it is in your state. There may few minute differences but apart from that everything else will be common.

Trustworthy laborers are a real challenge:-

Construction workers are hard to find especially when there are big companies who are picking them for a better package. Contractors are losing their men to these big companies and hence find this to be a bigger threat than anything else. Well, the solution for this is quite simple. You need to increase the pay of your skilled labor. Workers ideally do not want to leave their existing employer if they are paid as per the industry standards. They know their worth for sure and it is time that contractors too know their worth. Once you begin to pay them like others do you will rarely see the laborers leaving your company?

Embrace technology with both hands:-

The sooner you befriend technology the better it will be for you and for your business. Right from having the latest device on your heavy equipment to creating a website that is visible to everyone, you need to ensure that you do not lack a bit when it comes to using technological applications. Get hold of a website designer who has created websites of construction companies and other contractors. Such guys will know the kind of stuff you need in your website and therefore will make the best for you.

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Never let the zeal to get more business dry out

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One should always be satisfied with whatever little he gets but at the same time his hunger to get more should not die. It is perhaps this passion of his that will keep him ticking during the rough patches of his business. Laying concrete strategy is one thing but when it has to come to the ground for implementation there lies the real zeal of the business owner and this zeal to get more and more business will also take him to the many levels that many aspire to reach in the construction industry.

Many enter the construction business with an incorrect notion that they can make good money without having to shed much effort. They believe that getting business is simple but industry experts find the truth to be completely other way round. In order to get business you need to have all your stuffs in place. Right from heavy equipment to a track record that is impeccable, you have to display all of them to get some business.

Getting small may not be much of a struggle but there will be a point when you will mind doing petty work and want to get into something bigger. This is when you will start experiencing acute hardships and failures. They may even become the part and parcel of your daily routine but this is what the leaders of the construction industry had also gone through. They had their share of rough patches but what they did different that most did not do is they stuck to the ground and kept their zeal alive to continue the search of getting more business.

Your confidence will keep your zeal alive:-

Folks who are new to the business and do not have anyone who can guide them ideally lose their confidence when they see things not working for them. They do not see the light out of the tunnel and find themselves to be completely lost in their endeavor. It is absolutely critical for such men to first generate some confidence and remain hopeful that luck will favor them. When you go to market your company, the person on the other side of the table first checks your confidence and then the stuff that you are presenting. So you may be marvelous in your work but self-confidence also speaks loud and you need to pay stress on developing that. It actually keeps your enthusiasm to get more business alive.

People start knowing you:-

You drop in to the office to check if they can give you a contract. They saying NO should not disappoint you because by reaching out to them and dropping your business card at their office will let them remember you. Also check out the classified part where people are looking out for contractors to give them work. So be open to that as well and try and meet as many people as you can. A “NO” now does not mean a “NO” forever. There will be a time when they will really need your services. So meeting people often should be your priority.

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Want to hop in the construction arena – read the essentials

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Having a business of own is every man’s dream and if one gets to set his foot in the construction industry then there is no looking back for him. But the truth is that firstly it is not so simple to get into the construction industry if you do not know much about it and secondly if at all you make your way in the sector, you may find it pretty hard to sustain. People with good financial backing find it extremely difficult to survive in the construction arena. The reasons are plenty. Right from severe competition to ever changing mood of the industry, a businessman has to battle it all in order to keep his place secure. But it has been seen that many are unable to strive the tide and they get drown. Therefore, once needs to be mentally prepared for the tough life and also with the harsh realities that they may encounter after they have made their way inside the industry.

We would be speaking in depth about the essentials that a person should have before they decide to start a construction business.

Technical know-how is a must:-

For people who do not relate to the construction industry nor knows anyone who belongs to this domain should take few lessons on how to run the business and then decide if they want to make their way in. Not knowing the technical know-how can cost him dearly and he may become the part of the larger lot who has left the business. Technical know-how does not mean that you should be well versed with all the jargons or should know how to drive or repair heavy equipment; but it certainly means that should know a bit of everything. For instance, if the heavy equipment develops a problem, you should know where to get it fixed rather than being clueless what to do next. Similarly, if you experience a strange problem in your business and are unable to know the way out, you should at least know of somebody who can get this fixed.

Know your finances well:-

People ideally become very eager with the idea of starting a new business forgetting the fact that the business need investments and if they are unable to arrange the finances then things can go awry and they may fall flat on their face. Therefore when they are struck with the idea of opening a new business, they should first check their finances. See if they have any opportunity to get any loans and estimate the time by when they can repay it off. They also need to decide if they have to buy heavy equipment or take it on rent and whether they have sufficient funds in doing either of the two options.

Hunting for projects:-

Getting work is the primary goal after you have set up the business. You should work hard to form a sales and marketing team and check who is good in selling. If you have the skill to sell, you become the head of the sales department and lead the team. However, at the end of the day, you should have few projects in hand.

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How to train the newcomers in the construction industry

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Recruiting new people in your company is a sign that your company is growing. But apart from that, it becomes the responsibility of the tenured men/women to see that the newcomers feel at ease. They do not have to struggle for petty things. Since they are new to the company they will not know the rules and regulations formed by the company for its employees and therefore they might do something that is kind of forbidden in the rulebook of that particular company.

The veterans should therefore lead the way and informed the new guys of the rules. Things that they should do and stuffs that they should refrain from doing should be explicitly communicated to them. Other than that, they should be guided with other facilities like restrooms, pantry, cafeteria etc. Most importantly, they should be guided on doing their work the right way.

Day in and day out, new people join the construction industry. Some are absolutely new to the industry and some have worked in other construction companies and have switched jobs. There is a variance among these 2 sections. For the ones who are absolutely new to the industry should be taken care quite delicately. They do not know anything about the business and hence they should be first given some training so that they understand the etiquettes of the business. Simultaneously they should also be trained on their work so that they can learn both the things at the same time. Being new to the industry, they might take some time to understand how things work here but if they are sharp, they will catch things up real soon.

For people who already have some experience in the construction industry, they only need to be updated about the etiquettes one should follow while they are a part of the company. Rest is expected to be already known to them.

One should be patient while training newbie:-

The trainer or veteran who has been assigned the responsibility to train the newbie has to be a guy with ample patience. He just can’t manage to lose his cool. The new guys will throw questions at him. Some will make sense to him and some will not. But he should not disregard any question or grumble when he gets a question that is according to him an incorrect one or make no sense. The newcomers are bound to make all sorts of question and the trainer needs to answer them patiently and by giving examples.

Practical approach is a must:-

Training on any construction related subject can’t be taught only in a classroom. They guys need to learn things on the jobsite. They need to see things happening and how others are working. They should be allowed to try while they have someone around them who will monitor their work and if correct them if they go wrong. This is perhaps the only way by which they can learn things sooner.

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Construction Market in USA in 2017

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The construction market of 2016 in the USA has seen a mixed response. There was an upheaval of opportunities in the first half of the previous year. However, the momentum that the construction industry experienced and encountered in the first half of the year 2016 gradually receded into a slow momentum in the latter half of the year. This trend will have its impact on the current year 2017.

The sectors that were into focus in the construction industry are data center building, warehouse building as well as building the hotels. Though there is not enough data on how the impact of the construction industry has been on the data centers, it can well be said that the demand will still be high. What will experience a downfall or at least a slow growth is the hotel industry. But, in some cities of the country, the warehouses will still be in demand for construction.

The Scenario in 2017:

As per the reports of Dodge Data & Analytics, the current year 2017 is going to be very promising in the construction industry. In their report, they have stated that there will be an advancement of $713 billion in the construction industry profit margin, which is about 5% increase from that of the year 2015 and the year 2016. It is also expected that though a slow growth is to be followed in the current year, the growth will be steady and hence, the profits targets are likely to be achieved.

The Impact on the commoners:

Now with this promise, it must also be mentioned that the potential consumers, who are planning to purchase new constructions, apartments and buildings in the USA, will be largely benefited by the low interest rates and mortgage rates. Even there is going to be an increase in the units of single family housing in the USA, which is great news for the potential buyers.

Even the commercial building construction is also going to encounter an increase than the previous years. This will certainly have a great impact on the employment sector. Not only will the construction industry open up new opportunities for the employment, but the commercial buildings that are being made, will open more avenues of employment.

What will be in demand?

As the construction market in USA in the year 2017 is going to encounter an increase, there is a high demand for construction material, employees and workers as well as the heavy construction equipment. Hence, those, who are working in the construction equipment manufacturing companies, will indirectly be benefited greatly. Even the small scale dealers will also be benefited by supplying brand new as well as used heavy construction equipment. Workers, heavy construction equipment operators as well as other professionals will also be benefited with this increase.

If you are planning to have a career in this field, it is a great time to stat. Just choose the right field for you such as operating the heavy construction equipment, engineering or working as a labor in the construction job sites, the options are many.

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