Category Archives: Construction

Don’t run after money – Give some time for business to grow

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It is pretty obvious that we all do business for money. The very reason why we end up doing a business is that we can make more money than what we could have by working with a public or private concern and of course for the very fact that we will our own bosses and no one will be there to monitor or control or work. This all sounds to be so nice and sweet as long as you are able to generate money from your business. However, the bitter fact is that for the first few years you have to struggle like anything and you get nowhere near of making any profits. On the contrary, there are high chances that you will be incurring losses and still need to pour in more money in order to sustain your business.

It is a known truth that construction business can give you so much money in a shorter span that no other industry can probably give and due to this very reason more and more people are getting into this industry. It is not so difficult to start a construction business but it is quite tough to sustain if you have one. The main hurdle is to get projects and if you succeed in getting projects, the next problem will be if you can complete the work on time. You may need different kind of heavy equipment for which you need enough reserves in hand or else you have to end up taking loan from a financial institution paying them high interest. Other than that, you need to employ able staff and construction workers and need to ensure that you pay them on time.

All this will take a lot of time to fall in place. So if you do not have the patience and if you start running after money, you will not achieve what you wanted to. If you keep earning money as your only motto then things might not go your way and you may have to wind up your business sooner or later.

Take some time to know your business:-

Every kind of business has certain tricks of the trade which one needs to be aware of. Without knowing them, you should not straight away jump into forming a company and employing people. This may back-fire you in some way or the other. So it would be important that you first take time to learn a bit about your business and once you feel that you are ready to take the plunge then start making preparations like accumulation of funds, looking out for employees, conducting interviews and stuff.

Keep reserves for the first 2-3 years:-

You business will not start generating profits from the word “GO”. For the first few years, you may experience a lot of hiccups which will gradually settle down. It is important that you give time for issues to settle as it will definitely take time and will not disappear in no time. It ideally takes 2-3 years of struggle to take a business from a toddling phase to the next level.  Once you are out of the initial phase, things will start becoming better for you.

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

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

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

Renting, Purchase and Leasing Options for Construction Site Contractors

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

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

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

Comparison Between Lease, Rent and Buy of Heavy Construction Equipment

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

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

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

 

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

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

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

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

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

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

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

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

Stagnancy in construction business – It’s time to review your strategy

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Forming strategy is a part of every industry and all kinds of businesses. You have to plan few things in advance by assuming how the situation could be in the next few days, months or years. A person who has been running a business for years and has seen many ups and downs of the business can make little mistake in assuming the market trends and on the basis of his assumption, he can form a strategy. However, what can one do if he finds that his strategy is not working and the business is still stagnant and waiting for the push.

Well, it means that it is time to review your strategy and probably re-plan things. It is not at all necessary that what you have assumed will turn out to be correct. Many a times, the most experienced guy in the industry does mistakes in estimating how the market will react in the next few months. Future is unrealistic and it may be utmost difficult for anybody to predict things precisely. We can follow the past trends but based on those trends deciding the future trend is not possible. Playing a bigger bet just by predicting the future is just not advisable and definitely not advisable when you are running a construction business. But that does not mean that you will stop estimating things and will desist from laying strategies.

When you are in the construction industry, you take into consideration advices from all corners. Right from market experts to your fellow workers, any suggestions coming from whatever side can be sheer effective. Therefore, you should keep your ears open to their advices but take rational decision and should not just go just by their words. Give your thoughts to the entire version as it is important to know what others think about the construction market.

Just in case, if you were doing well in your business and all of a sudden you experience stagnancy, then it is a matter of worry. You should act immediately or else the stagnancy has the potency to eat away your business and you might end up losing everything that you have. What becomes important for you do is review your plans and check what is not going as per the plan and if at all you need to bring any kind of changes, be flexible enough to adopt and adapt to the changes.

Stagnancy in the construction business can be due to several reasons. Rise in fuel price can also affect your business in a larger way. You also got to keep a close watch on the client relationship. Many a times, it has been seen that you stop getting business from clients as they have got hooked with some new construction company. A fall in the quality of work can be one of the reasons behind the change of business. It is very crucial that you do a Root Cause Analysis (RCA) and check all the possible reasons that could have led to the stagnancy in your business and once you have found the problem, waste no time in uprooting the issue once and for all.

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How Trolley Assisted Electric Truck Saved Fuel?

Trolley assisted electric truck have been used across the world especially at the mines of North America and Africa. The worldwide usage of trolley assisted electric truck proved that the electric driven trucks are more efficient in the long run than the old existing mechanical truck. In mining areas these trucks minimizes the fuel expense by 45% and increases the productivity by 10%.

The engine of a trolley assisted truck generally idles for about 750rpm. During that time the main pressure inside the machine is that of the electrical system’s cooling blower. This pressure is generally 15% of the total capacity of the engine. In diesel momentum, the engine will attain full power at the highest speed on a 10% effective grade. The BHP is 2025 in a 12V 4000 engine for about 1900rpm. A calculation of fuel consumption rate using the above data in diesel stands at 360 LPH whereas in case of truck assisted electric trolley it is as low as 45LPH.

Electricity is comparatively cheaper than diesel fuel which enables everyone to save money. Moreover, electric trucks also do not create pollutions which is a great problem with diesel fuel trucks. The power through overhead line is more potent than the on board power source of the truck. We all know that voltage is directly proportional to speed and this fact enables the operators to increase the voltage to the level of electric motor’s end point. This, in turn, raises the speed of the truck though it remains in contact with the overhead line. And the speed of the truck reaches 10kph on a twenty percent gradient. The final outcome of this procedure is the reduction in the amount of fuel consumed by the trolley truck which is as low as only about 25 litres per hour.

When trucks run on electricity, and it absolutely makes no use of diesel. It is a well-known fact that electricity or hydrogen are renewable sources of energy. These trucks have achieved the status of zero-emissions, as a result it reduces global warming protecting public health. Fuel cells, battery and hybrid powertrains which are greatly used nowadays saves fuel and hence play a great role in economic saving of the world.

Electric Drivetrain technology saves fuel

  • Hybrid electric vehicle: Hybrid electric trucks are the most mature form of electric drive technology. Hybrid electric trucks can travel more distances as compared to traditional mod of trucks. It improves fuel economy and extend brake life.
  • Battery electric vehicle: Battery electric vehicle trucks are run by an electric motor connected to onboard batteries. No combustion engine is present inside the truck and the batteries should be charged regularly by plugging.
  • Plug-in hybrid electric vehicle: These kinds of trucks gain its braking energy through the recharge of the batteries. They are very similar to Hybrid Electric Vehicles with a bigger battery pack.
  • Fuel Cell Electric Vehicle: These electric trucks gain their energy by refuelling it with hydrogen. It do not require to gain its energy from any external electric source.

 

Electrification of trucks has recently came into being, but it already gained a strong footing. This wiser use of electrification technology has become a key factor that doubles the fuel efficiency of the trucks and will cut down the nation’s estimated oil consumption by 40% in the upcoming years.

 

 

Advent of latest technology gives new life to the construction equipment

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Development of any kind of business is largely dependent on the sort of technology it adopts to get the end product. Similar is the case of the construction industry which is so largely dependent on technologically advanced gadgets and machineries. Construction companies are always in need of machines that can get the work done in a shorter span without compromising the quality of work and in order to get the desired result, they have to depend on technologically advanced construction equipment. Moreover, due to highly competitive market where your competitors are constantly eying work and will not leave a single opportunity to grab a project, it becomes all the more important to deliver the projects on time and keep the guys who give you businesses happy.

Imagine a construction company having all the old models of machineries that take ages to deliver a job. It is pretty evident that he will not be able to sustain in this kind of competitive environment for long. Moreover, he will be losing workers as they will be prone to work for someone who possess latest construction equipments that are more flexible and simple to use.

Machines have a set life:-

Like humans, machines too have a life term and once the term gets over and if you still drag them to work, you will notice that the quality of work has been degraded. In such a situation, you have to deal with changing the older parts of the machine with new stuffs which will undoubtedly cost good deal of money. It also does not guarantee if the machine will work like before however in most of the cases, once the old parts are been replaced with newer ones, the same machine has shown outstanding performances. So the ground rule is when the machine has attained his term and you see it is not working the way it used to, time has come when you should replace the faulty parts with new ones.

New equipment consumes less fuel:-

Most of the construction companies were often struggling with the problem of excessing fuel consumption by their heavy equipment. These days, the construction equipment manufacturing companies are manufacturing machines that eats less fuel and delivers more than ever. Change in technology in the make of the engine has made this possible. Though these sect of heavy equipment are expensive but they are way better than their predecessors in terms of performance and fuel consumption.

Environment friendly machines:-

Government of almost all the developed countries have set up mandates for the construction companies to deploy machines that meets the standards laid to minimize air pollution. Even before the mandate was introduced, equipment manufacturing companies have already started manufacturing green machines (eco-friendly machines). The advent of this new technology has given a new dimension to the construction and heavy equipment manufacturing industry. Many see this as a new chapter to have begun and the advent of this technology has in real term given a new life to the construction equipment.

 

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What is the ultimate medium dozer?

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Heavy equipment are of various types each type of heavy equipment is meant for a specific function. Though there are few equipment that are multi-purpose but they also come with certain constraints and keeping into consideration those constraints, an operator bring that machine to use. It depends upon the operators recommendations if the equipment should be used for a specific work because he would be in a better position to understand if the work is doable with the equipment. Similarly, heavy equipment can’t do all kind of work that it is meant to do.  For instance, you are given a project to repair the road which looks fragile. You know that you have to unearth the strip using an excavator and then roll a dozer to plain the road. In this situation, you can’t use the excavator that is used for big projects and also can’t use the big dozers. It becomes important for you to identify the kind of machine you need for the work. You perhaps need a medium dozer to complete the work in contrary to the higher version.

We would be talking about why we need a medium dozer and is it really going to be effective.

Not all work suitable for all machines:-

Not everybody is compatible for everything. This also goes good with heavy equipment. Construction companies that are engaged with mighty projects need big dozers. However, while doing those big projects, they come across situations where they require a medium range or small dozers because they may not find the bigger ones compatible for the small work. They may see the use of a medium dozer in that situation. Similarly, when a person needs to work in his garden or there’s some work in the school campus or in the university campus, a medium dozer is much preferred machine.

Very simple to use and bar the requirement of an operator:-

The medium dozers and quite simple to use and do not have complex buttons that you may see in a big dozer. It would be almost impossible for a layman to understand the various functions in a big dozer. He may ruin the work if at all he uses the complex machine. However, if the person decides to hire an operator, that will be an additional expense on his part. Firstly, it is not so easy to get a heavy equipment operator. They are people with expertise knowledge about the machine and are usually hired by big companies paying them fat packages. Nevertheless, if he still manages to get hold of one, he may not be able to afford him. In such a situation, the medium dozer comes very handy. He only need to follow few very simple instructions and can get his hands on the machine.

Quite economical in terms of fuel consumption and high productivity:-

The medium dozers are highly economical when it comes to fuel consumption and still manages to deliver high productivity. After a lot of research work, engineers of various heavy equipment manufacturing companies have come up with latest technology enabled medium dozers that saves good amount of money for the user. It can also give a good sales value after using it for some time.

Save Your Life by Wearing Safety Vest at Construction Sites

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Safety vests are seen prominently at the construction sites worn by road flaggers, road workers and emergency personnel. They have to perform their job with heavy equipment in all conditions. The vests are designed to make the wearers more visible to others and hence keep the workers safe. According to the report of Occupational Safety And Health Administration, the reflective material of the safety vest should be sewn all over it to make the workers more visible both day and night. The vests are light-weighted, the loop and hook closure at the front side and the side strap of elastic aid to keep the wearers at ease in any situations.  It is made of fabric of bright neon colour containing a reflective tape that reflects the light of the car headlights.

The fire and emergency rescuers wear ANSI 207-2011 safety vest. These vests are generally known as public safety vests. The workers put them on over safety equipment which can be taken off quickly in the circumstance of complication.

Uses of safety vests

  • The reflective high-visibility safety vests are the first choice of the machine operators as it helps them to be detected and hence others can avoid colliding with them.
  • It also helps to maintain the traffic where it is at its minimal.
  • Putting on a safety vest while performing at huge-traffic areas help to reduce road accidents.
  • Its visibility also enables the wearer at the construction site to make out in foggy or dark conditions.
  • On big construction areas, where a worker is stranger to the other, the vests assist them to welcome a visitor.
  • In case any accident occurs on the site, safety vests make it easier for the emergency employees to locate the injured workers in an uneven landscape.
  • The padding of the vests protects the user from all types of injuries.
  • The vest also provides the worker with warmth making him comfortable in adverse weathers.
  • It is designed with two big sized pockets which are sewn on the interior side of the vest for cartable storage.

Which is better- Air Vest or Traditional Safety Vest?

There is an ongoing discussion about which is better- Air Vest or Safety Vest. At present, both of the brands have an accessible synthesized vest consists of the characteristic of both the safety vest and the air vest. However, modern air vests are designed in such a way that most of the workers working at a construction site prefer to use air vest to traditional safety vests. Development of safety vest set out in some accidental situations is underway, but these kinds of vests are not available commercially.

Maintaining a high-visibility vest is of first concern for different construction employees and this necessary safety equipment provides the employers the chance to assist their colleagues to stay secured and more visible at the job site.

Therefore, in conclusion we can say that safety vests are major safety equipment in a construction company. So, the workers should not forget to put on the vest before going out to work.

 

 

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Electronic Logging Device- Making Things Easier In the Construction Area

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Concerns about the safety are an integral part of the construction arena. Since the nature of the work is somewhat hazardous, construction company authorities have to be extra careful about maintaining safety at construction sites. It is keeping this aspect of the entire deal in mind that construction companies have come up with the electronic logging devices.

Electronic Logging Device- What Is It All About?

The construction area has come up with the electronic logging device in order to maintain and improve the safety quotient at construction area and driving in general. No more do truck drivers and heavy equipment operators need to resort to the manual mode of entering information in order to keep things going. With the government explicitly defining a particular HOS or hours of service regulation, more and more number of vehicle owners are opting for the electronic logging device including the arena of construction. This device has been designed to record the status of the equipment as to how long it has been running and how much time is left for its last run and things like that. Not only does this ensure optimum utilization of the equipment, but also ensures safety that may otherwise have been hampered due to overload on the part of the equipment.

Electronic Logging Device in the Construction Industry

The use of electronic logging devices in the construction industry has proved to be highly advantageous for those involved in the arena. The very fact that they do not have to manually maintain a record of things is perhaps the best part of the entire deal one could think of.

  • The electronic logging device allows heavy equipment operators and truck drivers to enhance the safety score of the concerned construction organisation along with providing a safer work environment for the employees. The device has been designed in manner so as to provide alerts and reports on the engine, speed and mileage of the equipment so that the equipment operators are well aware of the hazards.
  • One can be assured of significant reduction in the error percentage what with the records being entered and saved in the digital format. This means you save a considerable amount of time which would have otherwise gone into exhaustive paperwork and there is also the fact that you are never going to lose data with this system.
  • With the electronic logging device keeping track of the heavy equipment and truck drivers, one can be completely assured of improvement in the errant behaviour of the drivers. And with improvement in the driving skills, one can be sure of prevention of penalties.

Therefore, it can be easily concluded that proper driving of the heavy equipment and construction trucks contributes in quite a significant way to the entire gamut of the construction business. And the use of electronic logging device has definitely made things much easier for the ones involved in the area.

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Becoming A Successful Entrepreneur Lies In Your Ability To Learn New Things

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The word business sounds to be so lucrative to our ear which is why we all want to own a business. There we will not have any anybody to give orders to us and can do things as it pleases us. If at all, we need to leave a bit early, we have the privilege to do that and do not have to answer anybody for that. Overall, it may give you a sense of freedom, a fresh air to breathe and live life on your own terms. Well, all this sounds so good to hear but does it happen the same way in our practical lives? Well, that is a big serious question which probably a businessman or an entrepreneur may be able to answer. If we give a thought to the fact on how easy it is to run a business, we may find ourselves thinking for hours; because it is not at all easy to run a business. A businessman before starting up a business has to deal with many things and also has to sacrifice a lot of things which he wouldn’t have to do in case he had done a normal day job.

Most importantly, he has to keep himself present to new challenges and to learn to overcome them without hurting his finances. Alternatively, just learning about his business may not be enough but he also has to know a bit of the laws of the land. In order to start a business, one needs to know the government policies of the place and what are the procedures he needs complete to procure a license. Also knowing the time it may take for him to get the license plays mighty role in his business. Thus, he needs to keep himself abreast with few things inside the business as well as outside that will keep him going all the time.

Have a role model:-  Having a role model always helps in difficult times. You might want to make a distinguished person as your role model who is your favorite. A person to whom you respect for his work and also for the kind of attitude he has towards his work. Keeping him as your role model will help you remain motivated as you may feel that if he didn’t give up in a bad situation, so won’t you. You may just stick to your basics and work harder to get through it.

Always keep yourself open to learn new things:-  This attribute is essential in almost all the industry. Employers are always in hunt of employees who know the in and out of their domain. In order to know everything about your line of work, you have to keep yourself open to learn every new thing that comes in your way. For an entrepreneur, it becomes all the more important to keep himself abreast with any small update that concerns his business. He just can’t let them go away or it might prove fatal to his business.