The construction industry in the US is one of the largest in the entire world with an overall value of $1.731 trillion. There are 729,345 companies operating in the country, all getting a piece of that pie. The industry shows no signs of slowing down as there is always new jobs popping up in the cities. As the economy recovers, more houses and buildings in general are being put up so if you start your own construction industry, there is always going to be demand.
I’ve probably made it sound pretty attractive so far but don’t make the mistake of thinking that starting a construction company is simple. There are all sorts of things you need to get right if you’re going to build a successful business but, more importantly, there are mistakes that you need to avoid. With so much competition, even the smallest mistake could completely kill your business. These are the most common construction industry mistakes and how you can avoid them.
Safety regulation is there for a reason, but it’s annoying. It makes things take longer and often increases your costs. So you should just skirt around it, right? Wrong. It might save you time and money in the short-term, but if you get caught out, you’ll be landed with a huge fine and you might be banned from operating entirely.
All power tools and other electrical equipment that you’re using should be safety checked. Anything that you buy new should be fine but be wary of second-hand gear. It’s a good way of slashing your startup costs but you need to have it safety checked before using it.
When you’re using cranes or other large machinery you should always be using a mat to secure them. When you’re looking for crane, timber & digging mats – Northern Mat and Bridge – are your best bet. They’re good quality mats that are modular so they can easily be transported and then put together on site.
Protective clothing should be worn at all times on site as well. All it takes is for an inspector to see one person without a hard hat on and you’ll get slapped with a hefty fine.
Keeping A Bad Client
Everybody in the construction world has at least one story about a terrible client. Somebody that changes their mind every day about what they want, or tries to dispute the price after it’s been agreed on. When they start asking you to make last minute changes the job will drag on for way longer than you planned. If you aren’t getting much extra money out of it then you’re just eating into your profits. Declining work in the early days seems like a risky move but sometimes you just have to cut your losses and move onto some better clients.
Taking Work In All Areas
The phrase ‘jack of all trades, master of none’ comes to mind. If you start agreeing to work in all sorts of different areas, you’ll be spreading yourself too thin and the quality of your work will suffer. This is going to really hurt you in the early days because a lot of your marketing is based on word of mouth. A couple of bad jobs and word will spread, then nobody is going to hire you.
The construction industry can be incredibly lucrative as long as you don’t make any of these slip-ups.
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