Author Archives: Hammer

What to Keep in Mind When Choosing a Business Venture

Venturing into a business is something that should be thought diligently. You need to do thorough research to make sure you will not come up with a decision you will regret later.

Many people start a business venture as as a transportation service (ie San Francisco movers), local cafe shops, owning a franchise, online marketing, and/or selling a product or service.

There are some things you need to keep in mind when venturing into a business. They are the following:

Consider your passion

Choose a business you love and passionate about. You’ll stand a chance of making a sale if you believe in what you are selling. If you love cooking, then you should venture into food business such as a restaurant, a food chain, or catering services. The choice is vast. You just need to know where your heart is.

Consider your lifestyle

Choose a business venture that fits your lifestyle. If you are someone who loves spending time at home, then you should choose a business you can operate right in the comfort of home. On the other hand, if you love to entertain a big crowd, then you should start a business that is in line with entertainment such as a bar and the likes.

Consider your target market

Customers are the life and blood of your business. So, before you even start putting up a business, you need to consider your target market. Identify who your customers are.

Location matters

The profitability of your business has something to do with its location. You have to make sure your business is located in an area where your target market can easily locate it.

Budget/Capital

It pertains to the amount or value you put in the business. It includes both monetary and non-monetary form. To find out how much capital you need, you should take into consideration the operating cost, assets to purchase, lease payment, renovation cost, and the likes.

Marketing plan

For your business to prosper, you need to have a solid marketing plan. The marketing tactic you use will define the success or failure of your business. Therefore, it is of utmost importance to choose the best marketing platform for your business.

Self-discipline

An aspiring businessman should make sure he/she has the right qualities and one of them is self-discipline. If you are the type of person who loves to wing it, then you should not be a businessman because you are setting yourself to failure. You need to be someone who has attention to detail; someone who is disciplined enough to devote time in the business and strictly adhere to the business marketing plan.

Consider listening to the pros

For someone who is just about to start a business, there are a lot of things you know nothing about. It would be a big help if you are going to listen to the pros; those people who already excel in their business venture. If you are someone who feels like you know it all, then your business won’t be successful. Always remember that a business venture is a learning process. You need to have a constant pursuit of learning for your business to grow and prosper.

The Top 5 Trend in the Construction Business

For someone in the construction business, it is important to know where the trend is heading. That way, you will have an upper hand in the business and you will be able to outsmart your competitors. This 2019, the trend in the construction business is heading towards the positive side. Below are the top five construction business trends.

#1 – Construction business will have an increase in modular and prefabricated construction works

This year, modular and prefabricated construction projects are on the rise. It includes both residential and commercial projects. Modular construction uses a prefabricated approach to creating a repetitive structure. Establishments that may require a prefabricated construction approach include hotels, offices, and apartments, to name a few. Why is it on the rise? Many companies prefer prefabricated construction work because it enables them to save time and money.

#2 – Green construction is on the rise

Green construction will definitely be on the rise this year. As a matter of fact, the number of building and plans that uses green technology into the construction process is growing. Green construction pertains to building that uses environment-friendly resources and resource-efficient construction methods. Since the construction materials and building methods are environment-friendly, you can expect that the buildings will last longer than using traditional construction methods.

#3 – A significant increase in construction material cost

The cost of materials commonly used for construction will increase this year. It will increase by at least 3%. Hence, construction companies are thinking of ways to stay competitive within the industry. The increase in construction material cost is evident in materials like iron, softwood lumber, steel, and steel mill products.

#4 – Better Safety Equipment

If there is one good news to expect in the construction industry this 2019 it is the fact that the construction equipment is safer than the previous year. The standards for construction equipment are high. This is because of the increase in the number of accident and death cases related to construction. To significantly decrease the number of accidents and death in the construction industry, construction equipment is equipped with safety measures using the latest technological advancements.

#5 – Building Information Modeling

BIM or Building Information Modeling is a growing trend this year. It is a method of generating and managing computer representations of construction projects before they are built. The building information model is used by engineers and architects to show how the building materials will hold up as time passes by. Through the building information model, building owners will be able to come up with the maintenance schedule. Other construction advantage offered by BIM includes predicting the cost of the project and the ability to determine if the construction project is possible.

Business construction trends are heading towards the positive side. Although there is an expected increase in the cost of basic construction materials, it is only limited to 3%. Construction companies can always come up with the best solutions on how to remain competitive in business.