Category Archives: Construction

“Make hay while the sun shines” goes well with the construction industry

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Not every industry has its golden era forever. There are times when they see ups and also times when they also have to see the downs. You name any industry and you will see people related to it cheering during the good times and struggling when things are not so good. So as a business owner it is crucial that you make the most when things are positive in your sector and stay low when things are not doing well. This may not be the only mantra but is certainly an important one when it comes to finding success in any industry. We have often heard the saying “Make hay while the sun shines”. It makes a lot of sense in an industry that is dynamic and has lot of competitors all wanting to make the most. Construction industry is one such sector where people are vying for almost anything and everything.

Construction business owners know one thing for sure that it is pointless to struggle to get business when the overall industry is not performing well. For some it may sound weird when they get to hear that the construction industry is not doing well. They may have the belief that it is most rewarding industry in today’s time and for some reason can never see any downslide. Well as a matter of fact, every industry has a phase when it has to see the bottom and so it is with the construction sector as well.

Companies should have patience:-

Many new companies wind up their business when they do not see work coming. They probably get into the sector when it is trending downwards and since they do not have work in hand, they can’t take care of the operating costs and are compelled to give it up. Well for such enterprises, the only advice would be drastically cut down on the operational costs even if it means running the business from your house. If you have to do that, you should do so. Having an office and paying rent for it can become too strenuous for you to handle especially when things are bad. Therefore working from home becomes the most viable option and also cut down on the workforce. Stick to any small project that you get and learn to work on heavy equipments so that you can operate the machine on your own. This saves the cost of employing an operator.

Be aggressive when the sector is doing well:-

As understood by many, construction sector rewards you well when it is at its peak. You can take the risk and work aggressively to make the most. While you making profits, you got to remember to save resources for times when the business may take a downturn and you have to keep it afloat using those resources. This is why try and be aggressive when others are minting because you also will make lot of money then.

Construction industry is a rewarding sector. One must simply stick to it

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Not many industries can reward you with a great career and one of the industry that can really offer all that we desire is the construction sector. It can offer you with plenty of money, goodwill in the industry, job satisfaction and a career that can set you apart from others working in some other domain. There are many other industries that offers good sum of money but they lack job satisfaction. Some even lack a long lasting career but construction industry is perhaps the only industry that one can be a part of as long as he wants. So earning a lot of money, having a good reputation with your peers and being completely satisfied with your job sounds so merry but it takes a lot of pain to sustain in this industry as you do not get much help from people wanting to keep your business alive.

One has to go through tremendous pressure if he is new to this business. It is so obvious that people will not want to have much competition and therefore the new guy has to find his way on his own. He has to learn from his mistakes and then be careful to not to commit the same mistake all over again. We would be discussing what one should do to stick to the business despite of all the problems one has to encounter.

It should be your business every time in your mind:-

Handling a stiff competition where people are eying your business and are always ready to take it over if they find a slightest of chance is never an easy task. Your business got to be in your mind all the time. This actually gives a kind of impression on people how serious you are with your business and if you are the guy who will be able to take the business to the next level. People who are completely focused with their work are liked by others and then you may find guys who will come to you with good advices. You may start getting guys who would want to work with you and be a part of a growing company that seeks no height as unachievable. Having constant focus on your business will give you the strength and capacity to fight back your competitors and will also help you to get businesses from new clients.

A good strategy is all you need to keep the business running:-

Having a good strategy in place will work as a roadmap for you. You only need to follow the plan and check if you are able to attain what you have planned on a regular basis. Just having a sound strategy may not be the only thing you need to be in the business but knowing how far you have been able to attain stuffs you have planned is of huge importance.  You should be ready to face challenges that comes up your way. At times, things may not move your way and you may have to change the strategy a bit. You should not be adamant and should be ready to bend a little when the situation needs.

Heavy equipment sell by performance or by mere brand name

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One of the most important component that has the potential to keep the construction industry moving is heavy equipment. For a person who wants to buy a heavy equipment, he is often baffled with the question if he should be buying an equipment that has a history of good performance or something that simply has a good brand name to back it up. Not all the famous and big brands have produced the best of machines and not all the low market brands have manufactured vulnerable machine is a point worth noting. Though brands like CAT, John Deere, Hitachi and alike are famous for producing real good machines but there are not so famous brands that have produced some machines surpassing the ones produced by the famous brands. In other words, one must go by a brand name as that develops a kind of confidence in the minds of the buyers but simultaneously, if one gets to know that a local company has come up with a real good machine, then they should also show interest in buying that.

We will discuss how a machine with a brand name is an easier selling product than the one without the name of a famous brand.

Brand creates confidence and trust in the mind of buyers:-

What happens when somebody tries to sell you a product that you have not even heard of? The product may be exceptional in terms of quality and performance but you do not know that. This means that the product though being highly productive and excellent in quality lacks the most important feature which works as a constraint from getting it sold. The product lacks a brand and people buy things that has a brand name attached with it. The reason they go for a brand is that other have used the product of this brand and they are content with the quality which in a way suggests that this brand produces goods of high quality and one can easily lay their trust on it.

Brands give importance to the quality of equipment:-

Since brands know that people have huge expectations from their products, they will not want to play with the quality of the equipments. They will want to give the best to the clients. However, knowing the needs of the clients become a must. They can’t produce stuffs that are overtly expensive and that no one is ready to buy it.  They try to maximize the feature components in the machine and try to offer it to the buyers at a reasonable amount.

Performance is more important than just the name of the brand:-

Without a brand’s name, you will find it almost impossible to sell a heavy equipment. Similarly, one can also create a brand name by producing quality machines. It is not that the famous brands were born famous. They had to make their way in. If they stop manufacturing quality machines that gives importance to performance, you will soon find them to be history and they will be replaced by someone who sells machines based on its performance.

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Modernization of heavy equipment has changed the dynamics of the construction industry

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With the advent of new technology, we also see the face of the relevant industry changing. It is pretty obvious that with new technology coming in, the method adopted by people towards their work is bound to change, which therefore impacts the overall performance of the industry. The arrival of new technology brings in a change in the attitude of people towards their work. They probably become more energetic and their aspirations rise manifolds. Though it brings in lot of positivity but there is also a fair chance of experiencing the negative side of it.

In the last few decades, the construction industry as a whole has seen a number of changes with the arrival of new technologies in this sector. Initially, there were hardly any sky touching buildings but now everybody seems to have an office in one such tall rises. This means the demand of constructing huge buildings is rising on an increasing trend and construction companies on the other hand demand for heavy equipment that are more technologically sound and highly effective in every manner. Be it building big bridges or creating an entire city under water, all seems to be possible with the help of technological advancements.

Owners of advanced technology heavy equipment get more projects:-

When you are about to give business to somebody, you will definitely check his credentials and the tools he has to complete your work. In the same fashion, when a client hunts for a construction company to complete a project, they ideally see what kind of heavy equipment does the company procures and how technologically sound are those equipment. They will be reluctant to give work to a company that lacks heavy equipment of latest technology and will look for bidders who has the potential to complete the work on time and if possible before time.

Entire township can be built in a span of few years:-

If we look back a couple of decades ago, building a township for residential purpose was very difficult as one had to construct large number of buildings in a large plot of land. This undeniably will take lot of time for the construction company to complete the work and give possession to the people who have booked the flats. Such projects may take more than 5 years to complete and if there occurs any issue with the title of the land then there are high chances that the entire work is halted for unknown period of time. These problems are quite rare these days. Firstly, it doesn’t take this long for a big construction company to construct a township and other than this they start working on the land only when the title on the property does not have any lien attached to it.

They use the latest machineries to plan the project and execute them. They understand that any delay will only cost them money and therefore they make use of advanced heavy equipment to complete the project as soon as they can.

Performance plays a vital role in establishing the goodwill of a construction company

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A construction company requires businesses to survive and they get their businesses from the reputation they have earned for the last many years working with different clients. In the construction industry earning a goodwill is extremely difficult and it is more difficult to maintain it. One mistake (you do not know if the mistake is big or small) can tarnish your reputation and has the potential to bring down your business to a new low. If a thing like this happens, you will have a real hard time to survive and bring it up again. This sector has less friends and more foes.

Animosity in this industry is quick to happen and can turn real severe with bad results. It is very imperative to have cordial relations with your business clients, with your competitors and with people who want to get associated with you in your business but you want to stay some distance away from them. Oh yes, you definitely want to stay away from some people as you may see them to pose possible complications in your business. However, you still can’t manage to upset anybody or else you seem to be in a position where you would be inviting problems.

We will be talking in length about what one needs to do to establish a good reputation and keep the good name to continue getting more businesses.

Company should have a vision:-

You will get clients when you show them that you are a company with a vision. You need to have the right set of heavy equipment, operators and workers that knows their work well. A good strategy is always important to put things on the right track. The better you lay down the strategy, more are the chances that you end up getting good businesses. If you have your things organized, people will take that as a sign of a serious businessman and someone who is in this trade to become really big.

Track your plans and ensure that they are acted upon in a timely manner:-

Creating a strategy isn’t enough but you got to follow it religiously. If you act upon your plans and implement them, you are getting yourself closer to creating a goodwill that will eventually draw upon more businesses making your company a highly profitable one. There are instances when you see the need to amend your plans. You should be quite flexible with any kind of changes that comes up your way at any point in time. At times, you have to change a part of the plan completely. You should be ready for all the challenges. If you are able to keep a control on these few things, you will see your business is completely in your grasp and your clients will have the confidence to invest their money in your company by giving projects to you.

Take work that requires a sense of responsibility:-

If you take up projects that requires you to show some responsibility and you succeed in completing it in time, you manage to set up a very good reputation for your company. Work like these will take you a long way ahead in life and will help you to establish the goodwill that many companies have only dreamt of making.

 

Having a clear vision will augment your growth in the construction sector

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The simple formula of a successful career is to stay focused with your work and the determination to remain focused comes from where you want to see yourself in the next few years. Your vision for yourself and for your company matters the most when you are in the mode of accelerating. Many big companies all around the world have stated their visions for others to know what they want to be. Similarly, you should also have a vision in life when it comes to your business and work hard every day to achieve it or at least come a bit near to get it. It certainly helps you to grow your business and keeps you little aggressive while taking business decisions. You may analyze your risks well before taking the final call but a person without any vision for his business might always fear to take risks however calculated it might be.

Speaking about the construction domain, the sector particularly respects and rewards those who have an aim in their life and who want to do something big. Expansion of business is one of them. Constructing tall buildings or building something phenomenal is the need of the construction sector. There are many who are a part of this business but they have small dreams and never try to do anything big. They are content with what they are doing. They may experience hardship particularly when the overall industry is going through a bad phase. However the ones who have moved with a vision for their business will surpass the bad phase. They are also the ones who take control of the situation and never let things go out of their hands. So it is people who are visionaries are able to stay afloat and why is why you will see so many big construction companies are in this business for the last many years. Some even exist for centuries if not less.

What keeps you standing in difficult times is nothing but your will to survive. Others simply give it up when they see turbulent times coming their way. The difference in the attitude of standing firm and giving up is what defines the vision of an individual and overall the vision of the company. Moreover, the one with a vision will want to reach at a point and once they are there, they do their ground work for their next journey. This means that there is eventually no stopping for them. They continue their travel as long as they feel they can go and then they pass on the responsibility to someone they feel share the same vision that they do. So ultimately it is all about where one wants to see the company to go and how dedicated he is to achieve what he wants to.

Though construction industry is a rewarding business but it only rewards people who have the mettle to perform and have also kept an aim in their life.

Have sound financial reserves to meet unforeseen challenges

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When you are rich, do not spend lavishly because you never know when you may need that money the most. Life is full of unforeseen happenings and this is why it is prudent to keep some control over your spending before things go completely out of hand and you remorse for things that you could have easily contained. People belonging from the construction industry have to be very careful with handling their finances. They can’t spend copiously in buying things for their business without even having the need for it. This may result to some serious problems in the future. Construction business is very dynamic in nature and things that are happening now may not happen in the very next moment. Which is why you should always maintain some amount as contingency fund as you do not know when you may require the money.

We will be discussing few important points that will highlight why having sound financial reserves is necessary to meet unforeseen challenges.

Getting new projects out of the blue:- 

At times, you may have experienced someone taking the reference of one of your clients and giving business to you. Well you must have never expected that business to come but it did arrive out of the blue. Now, if you say that you do not have enough resources to take up that job, you are simply not doing justice to your business. Getting new clients is always good for the business and especially when he comes to you as a reference of your existing client. Saying no to him will not only impact your business with a prospect but also will strain your relationship with your existing client. Henceforth, he may not give any business to you considering that you do not have the potential to take up new challenges.

Considering the same situation, if you keep yourself ready for such unforeseen opportunities, it will certainly help you nurture as a business owner and will also boost your business in a grand way. Therefore keep enough money to procure heavy equipments and employ new workers to work on the addition site.

Financial reserves can help you sustain during hard times:-

Construction business can show you both good as well as bad phases many times during your active career as a construction business owner. It has been widely observed that most of the companies go sick when the bad phase hits them. At times, it hits too hard for them to sustain further leading to unwanted closure of business. When you are down with projects and do not have much work in hand, you can cut down your costs. That will save a bit but you still have to carry on to survive and for that you require money. Having sound financial reserves helps you big time during such moment of crisis.

You can depend on your savings and can pull things on for few more months. Till then you may see the tide moving back and businesses pouring in. Your savings have thus saved your business.

 

Knowing the nitty gritty of construction business is super crucial

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Before you try putting your hands into any kind of business you need to first have at least some basic knowledge about the trade. Only if you learn the trade well that you will be able to do it well and also taste success or else it will be an utter debacle. You will only experience losing all that you have, right from money to people and eventually your business. So keep your facts straight and give stress to learn the business well before you really pump your energy time and money into it. The people who will be associated with your business will look how confident you are and your confidence will come up with the kind of knowledge you possess. If you do not know much about your business, it will certainly reflect on your persona and that is going to be really bad.

Speaking about the construction industry, it will just not let you run the business if you have very little or absolutely no knowledge on how to function. There is high level competition in this business and more people are getting in into the rat race. So in order to outsmart them, you got to be a bit smarter first. Therefore, it is recommended that you work with some construction company for the first few years so that you understand the nitty gritty of the business. It takes time to learn something new and therefore you got to stick with the company for few years and not months. Check how to behave with the laborers, what compensation you are supposed to pay them, how things are coordinated and how people are hired. You also need to understand a bit of managerial and admin part where you learn the work of managers and know what they do to manage things so that it all moves so smoothly.

Knowing the work of admin will help you understand how the payroll things work. You do not have to know everything in detail. Just the basic understanding will do. You learn these things and can incorporate it in your business. Ideally big construction companies have people who advices the owners on these things. You may also need advices when you reach to that position but in order to understand their suggestions, you need to know what they are talking about. So knowing these things becomes crucial. Another important area that you need to touch is the procurement of heavy equipment and other raw materials. Also knowing where to dump the debris is crucial.

If you know someone who owns a construction business, you can start working with him to learn things. So work with him for few years and gain as much knowledge as you can and once you feel that you are confident enough to start a business of your own, you should take the initiative and give it a shot. You will get to know more things once you head up for your own business and may find the journey interesting and joyful.

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What makes oneself a good heavy equipment sales person

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Like not everybody is capable of becoming a doctor or an engineer. In the same way, not everybody can become a good sales person. It is true that we all need to sell some or the other thing in our lives but that does not make us a good salesman. In a nutshell, selling is considered to be the most difficult profession and not many can succeed in making it their career. Being a good sales person needs skill, needs confidence and needs all the ingredients that will make the other person realize that you are selling the right stuff to them. In case, if you are not confident on what you are selling, then they might hesitate to buy the most beneficial thing of their life.

Selling items of less value may not be so hard but if you are given to sell heavy construction equipment then you may find yourself in a tough spot. Heavy equipment are real expensive items and it is certainly not an easy task to sell it to construction companies. Moreover, when you are trying to sell the equipment to a person who uses heavy equipment of some other brand, it is very difficult to penetrate and steer their thoughts to buy your product. They may be very loyal to their brand and may not feel comfortable to switch to some other brand. You may have to know yours as well as his products really well so that you can first make a comparison at your end and understand what extra you can offer him which he may not get from his brand. Providing discounts may not always work because people look for quality in machines. They may not want to have any discounts and will certainly not be ready to compromise on the quality of the machine.

Learn the in and out of the product:-

It is very important to know the in and out of the machine you are trying to sell. You can’t sell something that you are not sure about. While you are in the sales business, you may come across people who are experts in construction equipment and may give you a valuable suggestion about the product. Therefore, knowing about the product will give you the scope to counter them and possibly may sell the item to them.

Know your competitors well:-

Remember, you are not the only person selling heavy equipment and therefore you will have to face good number of competition from other players. It is imperative to know your competitors before you start pitching in for your product. Having no knowledge about your competitor’s product would be dangerous as it may tarnish your reputation as a salesman. People will find that you do not update yourself with the recent happenings in the world of heavy equipment.

Understand the needs of the customer:-

Please do not try to sell the customer something that he never wanted to have. You should first understand his requirement and then come up with a product. In this way, you will not only make a sale but will also earn respect for yourself.

Want to know your machine – Make good use of training manual

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We all want to pursue a stream that promises us with a good career and simultaneously have sufficient income so that we can have a pretty descent standard of living. This is the desire of every person and which is why we all take special care to choose our career path wisely. One such industry that gives its people a promising career is construction. There are huge requirement of skilled men in this part of the industry. Right from engineers to laborers, all need to know their bit with precision and therefore it is a no brainer why many see a good growth prospect in this industry and every opportunity to fulfill their dreams.

This sector usually have high requirement of operators who can work with the heavy equipments with ease. It is to be remembered that heavy equipments are not so simple to handle and there is every possibility of an accident occurring if the operator does something wrong on his part. It is therefore very crucial on the part of the operators to know what they are dealing with and befriend the machine, know it well before they go full-on with it.

Training is an important component:-

Practice makes a person better but something that comes before practice is proper training. Firstly, you should know the different aspect of a machine and then you put your hands on it. Heavy equipments are usually complex piece of metal and it takes time for one to understand it completely. You may have to go through various courses in order to know a machine that has various new gadgets in it. For instance, if your company has bought a machine that was used in the military and whose functions are absolutely alien to you. You probably do not understand much about the levers and buttons installed in that machine. This is when you need some training so that you get to know which switch does what.

It may not be as complex as it may look but it is still a new thing for you to learn. You can go through the training manual of machines that you are not aware of and understand it well before you put it to use.

Online training videos are great help:-

It sounds tedious to go through every page of the manual to understand the different features of the equipment. However, if you get a DVD that contains the training video, it will be of immense help to you. You only have to hear the things that you need to know. You may already know few things that is being shown in the video and you may want to skip that part. All you have to do is hit the fast forward button and move to the subject of your interest. Other than this, most of the training videos are free of charge. So you can just view them on YouTube for free and improve your skills.