Tag Archives: Construction Industry

Making of a construction company

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It may sound hard to begin a business when you do not have much experience on how to run it. It will in fact be quite difficult for you to sustain the initial few years and this is to be considered the most crucial period of any business setup. It is during this time that you experience too much of turbulence in your business and many people are compelled to shut their shops. But the one who are able to make it through these rough times are the one who are set to make history. The beginning of a construction business is no different and one has to go through the hardships which a person from some other industry goes through. However, what one needs to understand is till how long they have to experience the turbulence before finding the shore.  For this one needs to ensure that he has the right frame of mind and a sound financial backup that will help through his journey of setting up a mighty construction company.

Know how the industry functions:-

In order to run your business successfully, it is quite imperative to understand how the overall industry functions at ground level. Without knowing much about the industry, it will be futile to go any further with your business. It may lead to severe complications that may catch unaware. Things like how you can take a project, what prerequisites are required, the kind of expectation that one can set upon you and what you can do to fulfill those expectations are crucial. Running a construction business is not a easy one and involves lot of technicalities that the one who runs it should understand and also apply it well.

A bit of experience is always helpful:-

A person who knows how to deal with challenges and overcome them is the one who will find his place in the construction domain. Having little experience on how to run the business is crucial. It actually teaches you to deal with different types of situations in an effective manner without ruining your daily affairs. It also helps to learn to maintain good relation with your clients even when you have surrounded with different forms of challenges some thrown by the clients themselves. It is never easy to keep your clients satisfied as they always expect more from you. But to know the way to keep them content is an art that one can learn only through experience.

Have sound financial backing:-

This is perhaps one of the most important criteria one must consider. Every affair of your business in co-related to finance. You get projects keeping into deliberation the strong financial backing you have to complete the project on time. Your clients gives you work after they are satisfied that you have the resource to pay salary to your employees. You have to buy heavy equipments and that costs you a bomb. Therefore having a strong financial backup or some sort of reserve is imperative when you are about to begin a construction company.

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Take sound decisions if you are new to the construction industry

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When you are inexperienced you may not get it right the first time. You be into any profession, you need some amount of advice and guidance in order to learn things in a better way. Simultaneously, you are also unable to take the right decision when you do not know the difference between what is going to be beneficial for you and what will turn out to be a drastic debacle. It is quite important to first understand the subject properly before you get into it in order to take the right decisions in life. Your decisions will be quite circumstantial in nature. It will vary on the basis of the circumstance that you are in. One such industry is the construction industry where people find themselves in a tight spot over taking the right decision. The circumstance may be such that they will find it difficult to analyze which way to go.

Taking up of new projects is one such example where people do not know if they should be accepting the new project or wait for the existing ones to get over and then jump on to it. Ideally, when a construction business owner is given a new business, the giver expects him to get going with the work but the irony of the construction company is that he has to first wind up the existing work he has got in his hand and then only can deploy his resources for the next assignment. The other option is he can get more resources for the new project and start with the work but then once the work is completed in the next 2 years, he will have to do away with all his resources provided he has managed to get more work. But a construction company can’t perform on assumptions of events that may happen after a couple of years.

In this case, the company is in a dilemma if it should take it or leave it. Leaving the project will also have repercussion that the company has to face. It may be out of work for few months after the completion of the existing one and that is definitely not a good sign for any business. So situations like these can leave any construction company owner under stress and when it comes to a new company, one can only imagine how difficult it will be for him to take the right call.

Now when it comes to taking right decision, you need help from others and that others have to be an expert in the same domain. A new guy in the construction industry may have a mentor who is a guiding force for him. He should reach out to him for advices. He may get something phenomenal from his mentor which will help him to take control of the situation and eventually take the right decision for the company. The difference between making money and losing everything is nothing but taking sound and unsound decisions.

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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.

Determination is the key when it comes to construction industry

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In almost every industry, in order to attain the highest level, a person needs to be highly determined to reach till there. Skill also plays a pivotal role in his success but it seems that determination to succeed is the key when it comes to the construction industry. Construction sector is a highly competitive sector and one may have to experience a lot of ups and downs when they are a part of this industry. Many a times they are subjugated by their competitors and at times have to work at their whims and fancies so that they can simply survive in this sector. The big players hold a major share of the market and in order to just stay in and survive, small time companies often have to comply with the orders of the big companies. Other than that, there are different kinds of lobbies that one has to get associated with, without which it will be really difficult for them to carry on in this sector.

In this midst of all these hassles, there is one thing that keeps most of them going and that is the zeal, the determination to make it big in this sector. There are few things that one must do to keep that flare on.

Always think about your goal and move in that direction:-

This is pretty tough to do. However, it really pays you off handsomely. The only think that should be there in your mind is your business. This will help you to keep getting different kind of ideas, plans in your mind that you can make use to expand your business. You will undoubtedly be experiencing many other issues that will be other than your business. However, that should not affect your business plans and your intention to grow. Having said this, you should not mix your business life and your personal life together. This is real tough to do but you got to learn this with time. People may give you some advices. You may check if any of them actually works for you and in case if any of their advice works for you, then you can follow that whenever a crisis of that sort appears. The key is to just keep your focus intact and move in the same direction. Some problems or the other will always keep on surfacing. It will be ultimately your talent how you handle them and continue to move in the path you have chosen.

Always follow the guidance of a mentor:-

The construction industry is a highly complex industry and time and again you will come across issues that you may find new and may not know how to deal with it. This is when you require a mentor, a person who will guide you all the way through, a person whom you can trust and you know that he will never give you any wrong advices. While working in such a multifaceted industry, having a mentor who will help you to be focused is very essential.

 

 

Youths making their way in the construction domain

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We all have the wish to set up a company of our own and be our own boss but very few are indeed able to fulfill this dream of theirs. It is often the level of competition that weeds out the new talent and also the lack of preparedness on the part of the youngsters before they begin with setting up their business. One such industry that has given the wings to fly is the construction sector but the sort of competition one gets to experience in this industry is enormous. There is a rat race that exists in this sector. People are expected to do everything to just get a deal. It is not that getting work is way harder. It is just that people for some reason do not have the patience to wait for the right deal to come by.

Youths in particular who aim to become a part of this industry needs to take care of many things. Firstly they should work on their knowledge on this industry. This sector is pretty vast and involves lot many things that affects it on an everyday basis. So having a fair amount of idea often helps while taking the right decision. You should not want to see yourself lost when you get to know some common stuff about the industry that you are a part of. Therefore keeping your eyes and ears open and accepting new things from others should be your mantra to learn things.

Heavy equipment play a pivotal role in the construction segment. It is said that the companies who have the best machines and backed with a better workforce can stand tall at all times. So just having modern heavy equipment is not going to help you. You also need to back it up with efficient workforce who knows well how to work on those machines or else it is futile to have them in the first place. Simultaneously, not all machines that have the modern look over it should be purchased. You may never need that stuff in your entire project work and hence there is no need to possess that in your arsenal. The better way to work it out is first know your requirements and then go for the purchase. Also, purchase of heavy equipment should be done after thoroughly scrutinizing your finances. Heavy equipment are expensive metals and you may not want to spend your money on something that you may not use for the time being.

Last but not the least; keep a tab on your finances. If you do not do that, then you will not know when you have exhausted all your resources in the spree of buying heavy equipment and stuff that you feel is important but now you do not have any money left to run the business. Many young entrepreneurs have gone through this situation and they have to ultimately take loans to run the business or simply give away the idea to continue any longer.

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What heavy equipment salesman could teach other salesman in different industry

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Selling products of any brand can be difficult irrespective of how famous the brand is. The work of the salesman is to highlight the feature that matches with the requirement of the client and has to win his confidence that the product will last for long. Once the client is convinced with the quality of the product and how economically viable it is for him, he will go for it. But in the entire process of selling, every salesman gets to learn a lot of things out of every successful as well as unsuccessful sale. A salesman selling heavy equipment can teach a lot of things to salesman belonging to other industries. His selling techniques will be far more polished as he indulges in selling equipment that are quite expensive and people will buy those machines only if they see a dire need for it.

Intelligent selling:-

Selling is in itself an art but intelligent selling is a kind of a superior art which not many are able to master. Heavy equipment seller during his journey of selling different kinds of earth moving equipment has to choose their words carefully. They unlike salesman of different industry can’t keep on speaking to convince the client. Since they are dealing with a far more technical subject, speaking anything that is incorrect can back-fire them and they may lose the sale. Therefore they have to opt for intelligent selling where they are required to do a bit of research on the kind of work the client is into. He can pitch in his product as per the requirement of the client. This teaches salesman of other industry to follow the same pattern. Selling something just because you are given to sell it should not be your sole idea. Understanding the clients need should be the core focus area and then putting your products with his needs should be the next plan of action. If you are able to do that, selling becomes easy.

Do not be greedy after commissions:-

Salesman should not run after money. Though it means a lot to everybody but selling products that can earn them good commission should not be given preference. They can also earn commission by selling products that suit the needs of the client. Heavy equipment salesmen are required to develop a good rapport with their client and if they sell a machine with the intention of earning high commission, they may soon lose out on the client. This teaches others to follow suit and concentrate on developing a relationship with the client which will enable them to sell more products in the future and also get references of other clients.

Learn your product well before you start selling it:-

Heavy equipment salesmen are required to know their product in an out. They may not be able to capture the technicalities of the heavy equipment but are recommended to know as much as they can. This will help them to counter client’s tough questions and also win their confidence. Salesman of other industry should be open to learn as many things as they can about their product. This will help them to crack tough clients.

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.

A site engineer has to carry a lot of responsibility on his shoulders

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A construction site is not a pleasant site as it is filled with dust and dirt all around but you will still find people working on the site just to make sure that things move smoothly. The work of the labors are tough as they have to continue their job in the scorching heat of the sun but there is someone whose job is tougher than perhaps anybody in the entire construction site. It is the job of the site engineer that is considered to be tougher than anybody else. He has to look after many things and has to ensure that they all fall in place and do not go off-track.

Though he is assisted by others as well but the frequency of assistance becomes quite limited during peak business hours. At that point in time, he needs to manage everything on his own. Right from man management to monitoring the performance of work, all falls on his shoulders and he can’t shrug it off. He has to make sure that all the work that is assigned to him is done within the timeframe.

An engineer is paid on the basis of the experience he has gained in the construction industry and what kind of responsibilities he has fulfilled till now. The package of the site engineer depends majorly on the kind of activities he can handle. So reading the plan and designs is just one of his responsibilities and he is expected to do more in order to be paid more. This means that today the engineers have to go through a lot of stress as well. This is why construction companies have started recruiting people who will work directly under the site engineer and will report him of any issues that happens on the site.

The project planning engineer is different from a site engineer though both have the capability to read and understand the plans and designs. However, the site engineer in most of the cases does not have the authority to make any amendments to the existing plan and that can be done only by the project engineer. Only if the project engineer directs the site engineer to amend the project plans, he can do that. His main work is to liaise with the project engineer, communicate his instruction to the labor and heavy equipment operator. One more important function of the site engineer is to check the availability of raw materials and in case if the materials are soon going to get over then check how soon fresh supply will pour in. This is quite a crucial job where the site engineer’s skills are tested quite often.

Site engineer with the help of his team tries to resolve issues with suppliers or of the laborers or any party who is related to the job. Since he is assisted by his team, he can assign some of his work to a trusted team member and focus on other activities on the site. But eventually he becomes answerable for anything that goes wrong and therefore has to be sure of things shaping up on the site.

 

 

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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.

The rewards and benefits from a Construction Business

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You dedicate few years of your life to a particular industry and you are more likely to benefit from it. This is perhaps what every industry does for the people who devote their life to it. There may be few tops and bottoms that one has to encounter and if he manages to sustain those ups and downs and stays put keeping his ground firm, he has a lot to get back from the business. Now there is segregation when we talk about the generosity an industry can be to its people. Not every industry is as generous and payoff well. It is only handful of sectors that pays off really well and construction sector is one amongst them. People belonging to this industry have reached to great heights. The good thing they did with their life is they chose the right career and they continued to be a part of it no matter how tough life became for them.

You get fame for every successful deal:-

Construction business is perhaps the only business after film making industry where a person earns fame with every successful deal and getting deals in more or less dependent on the kind of work he has delivered and if he has maintained the timeframe that was given to him to get the job done. A lot of factors play a crucial role for a person to earn fame in the construction industry. For him to be known by other big players is no child game. He needs to have an exceptional talent which he is able to display at every front. Once he is able to do that then sky is the limit for him. Getting big projects should not be a problem. Other than being exceptionally good in the business, he also needs to be a man with a vision. A person who can dare to dream big can only reach near to the big players of this industry.

Construction business can give you immense wealth:-

Any industry can make you rich. It is a matter of few years of dedication towards the industry and how hardworking you can be. Construction business will test you a million times. You got to show your mettle every time it hits you hard and you got to prove yourself to the industry. Many people do join this business knowing that it is a rewarding industry but when hard times come they are not able to withstand it and finally they wind up the business. So just stick to the industry and you can expect enormous wealth flowing your way.

A sense of security is also attached to the business:-

It may not be wrong to say that the construction business also rewards you with a sense of security. Small construction or forestry jobs are always there. So in times when the market is miserable, you can still take up some small work and stay afloat. Being into any other form of business, if you are not in demand, it is simply the end of you.

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