Monthly Archives: October 2017

It is your love for your work that will drive you to success in the construction industry

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Successes in business are hard to come and especially when you do not like to do a work and are compelled to do for money it will not last for long. There will be a time sooner or later when you will run out of patience and you will start doing errors. Those errors will undoubtedly cost you a lot and perhaps may also cost you your company. Therefore one should not indulge in a business that he is getting involved for monetary benefits only. There should definitely be more to it or else it will turn out to be a big failure in the long run. So before you take the decision to get into a business there should be few questions that you should ask to yourself and only if you get a very clear answer for them that you should venture out.

Do you really want to get into a business:-

If you like a particular kind of work, you need not open a business for that. The construction industry is a pretty vast industry. You have different genres of work that you can get into. So it is crucial for you to know if you really want to start a business of your own or simply get employed to a big construction company and fulfill your dream job. While you get into a business you also need to be ready for a lot of hardships and only if you are ready to face them that you should take the move or else you can still work in a construction company if you are so attached to the genre of work and you love it from the core of your heart.

Are you ready to sacrifice your short term happiness:-

In a construction business you have to come across a lot of hardships for which you need to devote your time and energy to deal with it. While you do that you are unable to give time to your family friends and most importantly to yourself. This business will demand you to compromise a bit on your happiness and this is when your love for the work will play a crucial role. If you really feel that you should be a part of the business then it will automatically drive you to work for extended hours or else you will feel frustrated and will give it up.

Your love for the work will keep your passion alive:-

To achieve success in any form of work and not necessarily only in a business, one should be passionate about what he is doing. The construction sector also wants you to be passionate about your work and this will ultimately yield result to you. Lack of passion will be of no use and you will find losing your interest from your work. This will also affect your productivity and if you are the boss of your business then it will definitely have a negative impact on it.

Hose service repair for your construction equipment

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It is evident that one can’t work without heavy equipment in the construction industry. Heavy equipment is not only restricted to equipment that we see on the construction sites breaking structures or digging the earth or drilling deep inside the ground. When we talk about construction equipment it also takes into account equipment that are perhaps not a part of heavy equipment but are still crucial for the functioning of the business and if they fail to work as they should then the laborers are not able to work on that day. Therefore it is equally crucial to ensure that all your construction equipment is in order.

No matter how trivial they may seem to be they still hold an important ground as far as the construction equipment and its functions is concerned. Construction equipment used pumps, valve spools etc. to do their work. Now these stuffs are interconnected with steel resistant rubber hoses. Since the machines are required to work on a daily basis there is high probability of hydraulic oil leaking from the hoses. This is when you are required to either repair the hose or replace it completely with a new one.

Repairing a hose is a tough and some also believe a dirty job but certainly worth the time you spend and the money that you can save. However, if you do not know much about the hose then it is recommended that you do not try to work on it or else you may end up damaging the entire stuff. It is better that you call a guy who can get that repaired for you. They should be qualified to do that work for you and should have enough experience in repairing hoses. Normally, the hose service repair for your construction equipment is not a complex process but for a person who does not know anything about it should not venture into it. It makes sense to first learn the way the hose can be changed by watching the hose service repair guy while he is doing his work and then you can try the next time if it develops any problem.

There are many small companies who engage in services like repairing hose or replacing it. They can be approached if you see a major burst in the hose and the oil is flowing in high volume. It is also important to locate the source of the problem. When you call the repair guy, he will ask you few important questions which he should know before he can turn up to the jobsite with his tools. So you should be in a position to identify the source of the leak and inform to the service guy. Please note that you should not use your hands or any body part to detect the leak. You can use detection additives that can help you to find the source of the leak. These preliminary information should be passed on to the service guy and if he requires any further information, he can guide you over the phone and you can avail the stuff for him.

Renting a water truck can prove to be a lot helpful

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A construction or mining project however big or small it is, it spread a lot of dust all around which causes tremendous problems for the people working on the jobsite. The only solution to this is spray water on the dust and settles it down. Now you can’t have your water storage move across the jobsite. It is virtually not possible as it is a non-portable structure and will not simply move. So the best available option with you is to make use of a water truck and spray it all over the jobsite by driving the truck to each of its corner. This may sound to be an added investment though but will be really worth for the smooth functioning of the project and also it protects your employees for any airborne disease. But buying a truck only for the purpose to spray water may prove to be very expensive and one may not buy it to take care of one specific cause. Therefore, the simplest way out will be to take it on rent.

There are many heavy equipment companies who manufacture water trucks and based on the goodwill and brand value of the company, the rental value of the truck is determined. However, there will not be a drastic difference in the rental value of the truck. So one can go for a water truck manufactured by the best heavy equipment manufacturing company without worrying much about the recurring rental amount and speed up the completion work of the project.

Now there are many ways through which you can take the truck on rent but there are 2 specific ways that are used by most of the mining and construction companies. The first is contacting the heavy equipment rental companies who will get them any sort of heavy equipment under the sun by charging a nominal fee and the second is by checking water trucks on website that deals with sales and lease of heavy equipment. The first option can prove to be a little healthier one.

The heavy equipment rental companies cater heavy equipment to the construction and mining companies. They are associated with almost every contractor or construction companies in the town and they provide all kinds of machines that are needed in the mining and construction industry. So reaching out to these men will help as they will be able to locate if anybody wants to rent their water truck. They may charge a small percentage of commission or fees from you and will get you exactly what you need.

In the second option, you have to take your call as you will not have anybody to take immediate advice from. You can visit any online portal that deals in renting heavy equipment and search for water trucks. You will get to see people who want to rent their trucks. Check out the description mentioned on the listing and if everything suits your requirement, you can call the party and finalize the deal. In this case you do not have to pay anything to the site as the site will be charging listing fees from the giver.

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Looking for heavy equipment loan. First get your facts straight

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Want to buy heavy equipment for a new assignment or simply looking to upgrade your fleet, you should understand one thing quite clearly and this is buying construction machines require a lot of money. If at all you have cash in your business, you can’t make use of it entirely as you have to take care of other financial obligations related to your business. This means that whatever you earn from your business does not entirely go to acquire heavy equipment. The allocation of funds should be for the entire business and not only limited to buying construction machines. So the way out is to go out and shop for banks who lends money for heavy equipment and at a lower rate of interest. However, there are few other factors that are equally important to understand before you take the call of approaching the bank and applying for loan.

Approach a bank that understands your business:-

You need not go to the bank with whom you have constant business. They may not have much idea about how you run your business and may foresee hassles in granting you the loan. The other option is to approach those banks which specialize in facilitating loans to construction companies. They have a team who have been working with construction companies and understands their needs. If you approach such a bank, they will send their team to your site and will do the necessary study before communicating on the loan amount. It makes lot of sense to approach someone who knows what you are dealing with rather than someone who does not have the slightest of clue and therefore may end up making a big mess.

Give them precise information:-

Lenders need certain set of information about the borrower and it is the borrower’s responsibility to provide precise and accurate data to the bank. Any sort of intentional incorrect information can lead to direct cancellation of the loan. It has been observed that borrowers assume things that may or may not happen but on the basis of those assumptions they end up giving incorrect data which leads to the decline of the loan amount. There are questions asked if any banks ever declined to offer loan. Borrowers assume that by outing a Yes will go against them and therefore they mess it up there. Banks have sources to pull up information and match it up with the data you have given. If they see any incorrect information, they get the reason to suspect you and also to deny giving you loan.

Your credit rating speaks for you:-

If you have a good credit rating, there is less likeliness that the banks will not find you a convenient customer. Try never to default any loan payments and always maintain a good credit history. This will keep your score high and also your chance to get a quick loan from any bank that you approach. Also the tenure of your business plays an important role for the bank to qualify you for the loan.

 

Place a lien if you are not paid for your work

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Instances where a contractor is not paid for his work are few but they do happen and this is when the poor chap does not know what he should do to claim his money. Construction companies give contracts of their projects to various contractors. The number of contractors involved in a project is completely dependent upon the size of the project. If the project is big and it requires several men to work on it, then the construction company will involve more than one contractor or else he will simply go with just one. The construction company pays the contractor on the basis of the work that has been completed. The pay to the contractor is dependent on which phase the work is on. So as and when the contractor completes each phase, he is paid for his work and simultaneously he in turn pays to the sub-contractors.

There are some construction companies who faces severe monetary crunch and are unable to pay the contractors on time. However, the contractors do not stop the work with the hope that he will be paid after the completion of the next phase and will also receive the amount in arrears. Now suppose he completes the entire project and keeps calling the construction company to pay him but see nothing coming out of their pocket. This is when he needs to take the legal course. All that he can do is place a lien on the project which means that as long as you are not paid for your work, no banks can mortgage the property. So for instance, if you are engaged in building a condominium for residential purpose and you are not paid in full by the company, you can place a lien on the entire project which will prevent the buyers to avail mortgage from banks.

This means that the construction company has to first clear all your dues and only once the lien is removed that he will be able to sell the apartments. Such types of instances are rarely seen but they do happen and whenever it happens, the best way to tackle it is taking the legal course and places a lien on the property. The construction companies are also aware of this phenomenon and therefore they ensure that they pay their contractors their full due. They also make sure that the contractors in turn clear the dues of other sub-contractors who were engaged in the project.

In case you need to place a lien on the project, the best way to do so is by talking to an attorney who will advice you on how you can proceed with it. Remember that placing a lien should be the last option and you should not do this if you do not find the company paying you. By doing this, it can also tarnish the relationship and hence it is suggested to be taken only after you have taken every possible option to claim your money.