Category Archives: Business

Make way for new talents in your construction company

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

Talents are much needed resource for the growth and development of any economy. So right from running a small grocery store to operating a mighty construction company, the need of fresh talent is highly important. It has been witnessed that companies ideally want to hire experienced people rather than picking up young boys for the job. They feel that the experienced lots know their job well and will fulfill their duties honestly. They for some reason do not have the same faith with the young population. Well this is not a healthy sign because after a certain period of time you will face shortage of employees and will then be forced to hire guys who know nothing about the work you are engaged in. Therefore it makes more sense to hire young talents and train them so that they can become an asset for you and contribute towards the growth of your company.

There are institutions that train the young guns on heavy machinery. They produce competent operators but the only thing that they lack is experience. They can’t gather experience if they do not get the opportunity to work with some company. All they need is a chance to display their talent. They may induce new ways of working that can prove to be beneficial for the company as a whole. So when you see that your company is growing and you need men to work, make way for young talents. Similarly also hire experienced guys but the number of experienced and inexperienced guys should be proportionate.

Since the young guys lack experience, all they need is bit of support and they have the ability to stand on their feet. They need a bit of help from the guys who knows the work and this is how they can mold themselves into a better workforce. Hiring new talents is also beneficial in terms of saving revenue for the company. You do not have to pay more for their services as they are in learning mode. That does not mean that you have got the right to exploit them. The wages should be discussed with them and should be at par with industry standards. You can then check the ones who are performing and should simultaneously increase their wages. Pay them for their hard work. They truly deserve every bit of it.

Being the owner of a construction company, you should give clear instructions to the tenured guys on how they should behave with the new ones. Instruct them to be polite with them. They are bound to make mistakes as they are in the learning phase but that should not give the experienced lots the opportunity to take the young guys at task. Your instructions will ultimately make a favorable condition for your employees. They will regard your values and will hold you high. The policies of the company pertaining to new talents should be crystal clear and you should ensure that they are followed religiously.

Looking to grow your business – Make use of LinkedIn

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

Internet has indeed become a boon for many people who have aspired to start a business of their own. When you begin a business, the first hurdle that you come up with is procuring good clients who will stick around with you after receiving quality products or services from your company. Getting clients who can give business to you was becoming very difficult and on top of that you have those big business houses that were not ready to let their businesses go to small start-ups. They were doing everything possible to ensure that the small companies do not get clients and eventually they get rid of them and there stays no competition.

Things have now changed a lot and acquiring new clients is not as difficult as it was a couple of decades ago. Especially people who belonged to the heavy equipment business had suffered a big deal in the past but with the advent of internet and many social networking sites they are able to show their work to thousands of people at a time and they are not paying anything extra for it. There are some sites that do charge a nominal fee for promoting a business but not every website does. Someone who is associated with the heavy equipment business should definitely try LinkedIn to connect to people associated with the construction industry so that the ones who are in his list will know every detail of his business that he wishes to share.

First and foremost, you need to sign up in your LinkedIn account and create a profile. Please make sure that the profile you set up should be very professional as it will be viewed by people who will connect you for business purpose and hence do not leave any scope for any casualness to appear on your profile. Share all your details and write a lot about your business and what you ideally do. For instance, if you are engaged in selling and servicing of heavy equipment you should state that in detail. Mention which kind of machine you basically deal with or if you deal with every kind of construction equipment you should mention that explicitly out there. Since when you are in this business is very important for others to know as that will help them analyze the experience you have in this form of business.

Your language should be polished and avoid using any slangs. This can go against you in a big way. If you have accomplished any goals that you want others to know about, do share it on LinkedIn. People have the right to know about your accomplishments. Simultaneously, always keep our LinkedIn account updated as it will let others know that you are an active member and you have taken this up quite seriously.

Putting up your photo is also of much importance. However, you can’t put a shady one or the one where you are partying along with your friends or you are enjoying your time with your girlfriend/s. You should post a decent picture that has only you in the photo and with decent looking attire. This all will go a big way in generating more contacts which will be fruitful for your business.

Joint Checks with Heavy Equipment Rental House and Construction Companies

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

Construction companies are often of the opinion of taking heavy equipment on rent rather than buying them as it may prove to be very expensive for them. However, they also find it difficult to gather information of people who are willing to rent their machines. They may do a search on internet but the results are not always encouraging. Most of the times, they do not get what they are been searching for. It is quite obvious to not get the machine they want as the guys who want to rent their machine do not know what the other party wants.

They just put up the ad based on what they have and this what makes things difficult. The taker needs are not necessarily met by searching for machines over the net and therefore they need someone to help them meet their requirements. This is where a heavy equipment rental house comes into play. They are the ones who act as a bridge between the giver and the taker and they do this quite successfully. The modus operandi is pretty simple. Since both the parties know about the existence of a rental house, they turn up to them and give them their requirements. The giver’s requirement is usually the rental amount that needs to coincide with the comfort level of the taker.

If the taker feels that the rental amount is well within the budget of the company, then he asks the rental house to show the machines. The rental house in turn contacts the giver and asks him to come down with the machine or arranges a meeting of both the parties in his office or at a place that is convenient to both the parties. The taker can then inspect the machine and if he finds everything satisfactory, then he goes for the deal and just in case if he does not find the machine worth for his project, he lets the rental house owner knows about it.

In the entire process, one thing that is very crucial is that both the heavy equipment rental house and the construction companies should stay in close contact with each other as there may be always a need to procure machines on rent or give it on rent. Either ways, being in close contact will help both the parties know the requirements and what the rental house can offer. There have been scenarios where the big construction companies could not get good machines as they were rented out to some other small companies. This mainly happened due to lack of joint checks between the heavy equipment rental house and the construction companies.

The party who wants to rent out their machine should also stay in close contact with the heavy equipment rental house as it will be easier for them to rent their machines quickly. They can just walk in to their office and check if there is any party who is interested in taking a particular machine on rent. If they find a taker, the transaction can happen quickly.

Related articles across the web

Construction business is a dynamic business – Do not take decisions alone

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

Whenever you are about to take an important decision in your life, it is prudent that you have a talk with your near and dear ones or the ones whom you trust that they can help you cross the challenge with their expert advice and then take your decision. If you skip taking any advices from people, it may so happen that you start doing something without knowing much about it and end up endangering your life or career. That was about life and so it is with your business and especially when you are dealing with a dynamic business like construction, you got to be all the more cautious about what you are doing. Any incorrect step can prove very costly to you and also to the people who are connected to you with your business. Construction business is quite dynamic in nature:- If you have set your foot in the construction domain, you have probably entered into one of the most dynamic industry of today’s time which is dominated by players who are pretty old in this business. They are also the one who has a bit of hold in the construction market and can change things to their convenience. Having said this, it does not imply that they can play around with things as per their whims and fancies. That is never the case and will also not be feasible in the future. The construction sector is influenced by large number of factors and the big players are just one small factor. Other than that, you got to be cautious about other factors as well that has the potential of causing enough harm to your business if ignored. Expert advices are needed in every stream also in construction domain:- You may have spent quite a good number of years in the construction business, yet you may find yourself in a situation where you may need advice from people. It is not that you do not know the way out but it is just that you are tensed then and may not be able to pick the right way out. Therefore, you may need some consultative talks from your peers and people you know in this industry from a long time. They should be the right guys who can give you appropriate suggestions and may get you out of a mess. Taking decision along can be harmful. Take people along:- When you are taking important business decisions, it is very important that you do not skip the presence of other people working in your company. They are the ones who can come down with valuable advices, something that you may have never thought about and after hearing them you may just wonder “how can I skip this?”. Well, a single head may not be sufficient to take all the load of a business and therefore it is better if you can share the load with other trusted people in your company. That will set things right for you.

Engage with your employees to make a construction company successful

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

The success of any business is sheer hard work and the way you engage with your employees. Working hard is just one part of the success story but there is more that makes a business successful. People owning a construction business may understand the importance of talking regularly with the employees. They got to check if the people working in his company are happy working there or do they need any sort of benefits or require any upgrade in the heavy equipment. Not talking with your employees on a regular basis can make them feel that you do not care for them any longer and you only need them to get your work done. That actually puts you in a very negative frame as people may take you as a self-centered and selfish person. Therefore, you should make sure that you come down to meet with your employees at least once in a month and check about their well-being. It is not possible for you to remember each and everybody’s names but try to remember few of them. This might give them the feeling that you indeed care for them.

 

Engaging with your employees can be fruitful to your company in a number of ways.

It sets up a long lasting bonding:-

Setting up a healthy relationship is important for the success of any business. It is very crucial to set up a strong bonding with the people with whom you will be working day in and day out. It may be possible that you would be working from a remote site and would be monitoring their performances from that location but still you will be part of the same team that aims towards taking the company to the zenith. This motive of yours is only possible if you establish a strong bonding with your employees. They are the ones who have the potential to make or break your company. See that all their needs are fulfilled and they return home happily with the enthusiasm to come again to work the other day. If you engage regularly with your employees, it will help in setting up the bonding that is needed for the success of your business.

Employees will be dedicated to their work:-

A person can work hard only when he is dedicated to do so and what will make your employee dedicated towards his work. The answer to this lies again on the way you set up your relationship with them. If you are in good terms with your employees and do everything to keep them happy, they in turn will be more inclined to their job but if you are not good with them, they might act as a troublemaker for you. That is no way going to be healthy for your company and you should avoid any situation where there is any confrontation with your employees. On the contrary, you should seek ways by which you can solve their problems if they have any and try to get them back to work.

 

 

 

 

 

 

 

 

 

 

 

Related articles across the web

Prepare goals that are realistic – Do not ape what others do

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

We often consider every business to be tricky. However the fact is we make it tricky by probably deviating from the basics of the business. Innovation should never be considered as a form of deviation. It is rather a part of the basics but following someone else’s success model and incorporating it in your business may not give you the desired result. It can possibly give success to the person who has adopted that model but not everything is for everybody. We should not ape around what others do. On the contrary, we should have role models and analyze their way of working. Use that as a source of inspiration but never adopt the exact same model and incorporate it in your work culture. It may not work for you and therefore you need to do some experiment and see what works best for you.

Prepare a growth chart:-

Preparing a growth chart will actually help you take there. You need not make it for 10 years down the line. Try to keep the chart for a period of a year or two so that it would be easy for you to monitor the growth. It also helps you to track the growth that you have estimated and the actual one that you were able to achieve. This kind of concept matters a lot in the construction arena where people come only with the intention of making money. They may be quite short sighted and therefore they are the one who have to wrap up their business during turbulent times. The ones who have a long term vision will initially take baby steps and monitor their growth and once they become confident of their start that they will pull the accelerator and move with high speed.

Your goals should be realistic:-

This is a common mistake which many owners of small construction companies make. They keep their goals unrealistically higher and when they are unable to achieve them they feel dejected with their performance and end up by taking some drastic decisions that further dampens the career growth of the company. Therefore it is crucial that you set up goals that are achievable. By setting up unrealistic goals, you are only mounting pressure on yourself and on the people who are associated with your company. That is certainly not a wise thing to do as people will not be able to take the pressure anymore and will start quitting. You will then have to do away with some valuable resources which are then very hard to get.

You start should be slow:-

We often have the perception that the faster we grow the better we are. Well this is nothing but a myth. There is nothing called fast growth that ever existed. You do not start making profits from the very next day and if you think you should then business is not your cup of tea. You should be patient and understand the business first. Be slow but be steady. You take time to stand. Once you are up on your feet, take calculative risk and move steadily. You are not in a race with anybody. Enjoy your work as and when you go along with it.

 

It is a good idea to promote your business on social networking websites

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

We are seeing an increase in the trend where people are promoting their businesses on social media like Facebook, Twitter and stuff. They find it to be a spectacular way to reach out to a good chunk of population at a shorter pace. You can simply calculate the number of people seeing your work if you have more than 600 friends in your list. Your work will also be seen by people who are your friend’s friend to whom you perhaps do not know in person. However, they also get the chance to see your business and if needed will hire your services.

These social media sites also play a major role in the growth of the heavy equipment and construction industry. For instance, you work for a heavy equipment company and are given the role to sell machines. You can easily place your ad on LinkedIn or Facebook and check the number of people who are interested to know more about it. Unlike Facebook, LinkedIn is used by people for professional requirements only. So it makes more sense to have a LinkedIn account and post the ads of the machines that you have to with you sell. You can also use the logo of your company so that the prospective buyers know in advance with whom they are dealing with. That also gives them a sense of security that they are in right hands and there is not any scam involved.

Other than this, if you want to recruit any operator or engineer, you can put your requirement out there and that gets passed like fire in the wild. You will soon get messages from people who are looking for the job and that gets your job done without you having to pay a single cent for it. There are millions of LinkedIn accounts and getting someone suitable for the job will not be that difficult. You can also make use of the website to hire technicians, managers for various roles etc. It may soon happen that these social networking websites may overtake job search engines or the job search engines have to work in tandem with these websites.

Now if you already have an account that you exclusively use for your business needs, it is very important that you keep that account professional. Avoid uploading any casual snaps or pictures that you have taken in some party. Your business account is not meant to accommodate those kinds of pictures. You can make use of your personal account for that purpose. You should put pictures of some new construction equipment that your company has launched in the market or if you have some news that you can share it in advance, you can put that story in your account.

Never overstate yourself in any social media website that you use for your business. If people get to know that you have overstated or exaggerated things it will give the impression that you are there to cheat. Be true to the readers as they will be your prospective clients.

 

Related articles across the web

Low diesel prices helping the construction industry

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

Construction industry is largely dependent on heavy equipment and one the most important factor that contributes to the profit making of this industry is the low diesel prices. If heavy equipments will consume fuel that is sold at a lesser price, the construction company as a whole will be in a position of making real high profits. The price of diesel plays a major role in giving a good shape to a construction or for that matter any industry that uses heavy equipment to a larger extent. Many companies are still in the process of acquiring heavy equipment that are reliable, competent in working for long hours and also that consumes less fuel and is more productive.

So when we have machines that are designed to consume less fuel and be high on productivity, it will be an incentive to have fuel at lower prices. Companies that possess such machines can experience high profits year after year. However, the crux of the matter is that diesel prices do not remain same all the year. It tends to fluctuate quite many times in a given year and that is what comes into play and cut down the profit percentage. As long as the diesel prices are in check, things are in control and all are in a merry state of mind but once the price starts soaring, construction owners’ starts getting cold on their feet. Thus it is proven that the construction companies are at their best when the prices of diesel are low.

Boon for small construction companies:-

When the diesel prices are low, it is almost a sort of boon for the small construction companies. They can’t wish for anything more. The problem that many small construction companies experience is that they can’t afford to buy heavy equipment that consumes less fuel and is high on productivity. Such type of machines are extremely expensive and often out of their budget. Therefore they have to do with construction equipment that are either used ones or not that advanced and such type of machines tends to consumes more fuel. In a situation in this, they can’t wish for anything more than to see the diesel prices at the bottom.

Eco-friendly machines are way too expensive:-

Heavy equipment manufacturing companies are also producing machines that are eco-friendly. They call them green machines. They emit low intoxicants as compared to diesel run machines. The catch is such machines are very expensive. Since they are in their initial phase and also contribute largely towards the betterment of the environment, the manufacturing companies have decided to keep it at a higher range. Thus, such machines are not in the range of all the construction companies and only few giant companies can afford to have them. This means that the ones who can’t buy them have to work on machines that run on diesel and therefore they will find it very helpful to buy diesel at a lower price.

7 Simple Tips for Young people starting a career in Construction

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

When one thinks about beginning a career in the construction sector, he needs to be pretty sure what he is getting into because though this industry rewards people who work hard to achieve success, it also punishes those who are not able to perform. So one has to be sure which side he wants to be in. There is no rule book that one can follow to make a career in the construction business; it is just that they need to be patient enough and follow what is right and ethical. They won’t be able to taste success in a year’s time. They got to work hard and if they feel that things are not working right for them, then they need to work harder. Follow the right path, devote yourself completely and you will see things working out for you.

Give a thought before you finally pull the trigger:-

You should not want to make a career in the construction domain just because you see your friend’s dad making huge sum out there or you see one of your relatives doing good in his business. That should be a motivating factor for you as they all must have worked extremely hard to get to the place where they are now but that does not mean that you should do exactly what they did. You can get success in anything that you do provided you give your 100% to your work. So before you decide about walking in this industry, think if you really want to stay here for your entire life or else you will end up wasting couple of years of your life into this.

Know more about heavy equipment:-

Knowing about heavy equipment is very important if you want to be in this business. You should know which machine is used for what purpose and accordingly you can take decisions on procuring heavy equipment.

Check your finances before you go for any procurements:-

Starting a business in construction sector is no child’s play and it requires huge amount of investments. You therefore need to check your finances before you go ahead with any procurements of construction machines. You also need to keep into deliberation the operating and non-operating expenses that may incur while you are active in your business.

Hiring competent operators is the key:-

Ensure that you hire competent operators who are experienced in working with different kinds of heavy equipment. They are the ones who also know what needs to be done to keep the heavy equipment healthy.

Try to generate contacts by picking up small projects;-

Since you are new to this business, it is pretty evident that you will not be able to bag big projects as the giver won’t have the confidence in you. Simultaneously, it will not be feasible for you to handle big projects if you do not have any experience in handling any projects. It will be complete chaos. Therefore, pick up small works and try to complete them on time. This will help you to gain experience and simultaneously you will also develop contacts.

Be honest and ethical to your work:-

Honesty and ethics are very important in a business where you are dealing with your client’s trust. Be honest with your work and maintain ethics while conducting our business.

Engage with your employees:-

Always maintain a good rapport with your employees as they are the ones who will work hard with you to give a good shape to your business.

 

 

Modern heavy equipment are the need of the hour in the construction business

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

The construction business has always been a competitive zone and it has been observed that more and more people are getting into this industry making the competition all the more difficult. With new competitors in the market who are ready to take bigger risk, the one with more experience are having a tough time dealing with the fact that there is an urgent requirement of sophisticated heavy equipment to sustain in the competitive environment. There is only thing that can keep you above from the rest and that is technologically advanced machines. Your machines should be capable of doing work that others take days to complete and if you possess such machines then you have more chances of getting big projects that has huge profit margins. At the end of the day, it is all about the quality of work that you give to your clients that will decide the existence of your company.

Follow the best brands in the market:-

Technologically advanced machines are manufactured by many heavy equipment companies. However, the difference lies in the quality of those machines. Not every machine manufactured by different set of companies will deliver in the same manner. Some will last long enduring the same wear and tear and others will give away sooner. So you have to decide which one will be yours. Often the heavy equipment manufactured by the top brands lasts longer than their counterparts and therefore that should be your first choice. You can then do your own research and nail the one that suits your requirements. However, it is critical that you go for the top brands and not with companies that does not have significant name in the heavy equipment industry. Other than that, you can expect decent resale money if you sell machine of branded companies but can’t expect the same from a non-branded one.

Though expensive but worth the price:-

The technologically advanced machines are quite expensive given the ease and comfort it provides to the user. It is agreed that such machines are not affordable to everyone but at the same time also not beyond the reach of people who seriously want to upgrade their arsenal. The user will undoubtedly find it to be expensive but at the same time they will also feel that it is absolutely worth the price. If it is an absolutely out of budget case, one can opt for the smaller version of such machines. They will not cost much and also will be within the reach of many. It can act as a substitute for the larger version.

Real comfort for the operators:-

It is the operators who go through the pain of operating the machine. They have to take immense care when they are working with equipment that is not much advanced. Any mistake from their end can result in a big casualty. They will always appreciate if they are given machines that are simple to operate and does not need too much of their attention. They call them intelligent machines and they need such machines for work.