Tag Archives: Startups

Building a Construction Company – Startup Checklist

Building a Construction Company – Startup Checklist

Starting a company is never an easy task. Apart from needing the courage to take the plunge, you also have to be sure that what you want to offer will be interesting to customers and that you won’t make any mistake that might prove too costly.

Needless to say, the whole process is quite overwhelming, especially if you’re planning to make a breakthrough in the field of construction industry.

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Unlike many other startups, a new construction company can’t start with a makeshift office above your garage and an old laptop, which is just one of the problems every aspiring entrepreneur has to take into account.

In order to ensure that no major issues have been overlooked, many experts have been compiling various checklists for up-and-coming colleagues. The fact that most of the tips are generally accepted among seasoned professionals means that a young entrepreneur should most definitely pay attention to them.

So, let’s take a look at some of the things that are most commonly found on such checklists.

  1. Make sure you have sufficient funds. You can’t start a company, particularly a construction one if you don’t have enough financial resources. Whether you use your own money or borrow it, not being able to pay for everything you need from the very start would definitely jeopardize the whole project.
  2. Get all the papers you need. Apart from registration documents, you are bound to need various licenses to do business. Requirements differ, depending on where you live, but you should definitely have all of them ready on day 1. If in doubt, consult a legal expert about what you actually need and how to obtain it.
  3. Sort out financial and insurance matters. Choose a bank to open an account with and have a look at what various insurance companies Again, it might be useful to consult an expert if you’re not quite sure what the best option for you is.
  4. Create a team. This doesn’t refer only to experts in construction business, to also to your account, lawyer, banker, insurance agent and all other people who contribute to the daily operations of your company.
  5. Create a website. It’s vital that you have a professionally designed website where you can present your offer and later showcase your results. Having a good website is the best possible catalogue of your achievements you can have.
  6. Buying vs hiring. Make sure you know exactly what equipment you need to buy and what you can hire and try to find the most cost-efficient way of working. While you might need to invest in buying your own crane, for instance, you might be better off renting a scissor lift.
  7. Design business stationery. You really need to give your new company a professional look from the very beginning, which is why you need smartly designed letterhead, business cards and other stationery.
  8. Social media presence. A great deal of interaction in today’s world is happening on social media platforms, which is a good enough reason for your startup to be present there as well. Respect the norms and standards of social networks and you might create an extremely powerful marketing tool.
  9. Double-check your business plan, with a particular focus on its financial component. In case you’ve made a single mistake, you might not be able to get a realistic picture of your performance. Again, if you feel insecure for any reason, asks someone with experience to go through the plan with you and revise it.

As you can see, this checklist contains the most commonly mentioned advice related to starting a construction business. Needless to say, there are many more things one should take into account before starting a construction company, and many of them are very specific and depend on the circumstances. Still, if you follow this simple checklist, the chances of missing something really important are minimized.

Launching a Successful Venture – Journey of a Sperm to Life!!

Launching is successful venture is very much like a journey of Sperms where only one out of millions gets an opportunity to give the life.  Daily there are several Start-ups which are popping up in the market out of which only few get a chance to taste the success and rest get disappears. Launching a venture is easy but pursuing your passion to pursue it to next level is what defines your success. The moment you lose your passion and focus, you will lose in the race of success

EntrepreneurshipI have been recently bitten by an entrepreneurship bug and have been reading, exploring about how to launch a venture which can help me to pay community back which has given me everything which I could ask for.   My journey has been far more challenging then what I thought and at many times I lost my direction.  Entrepreneurship is a self-evolving journey where every step you take will give you an option to choose from different new steps leading in different direction.

Being associated with an IT industry and companies working on offshore models I have gained many insights about how and what type of business operates in this industry however when it came to put my thought in a structure I understood how difficult it is to make it happen and one can end up spending sleepless nights to put it in structure.

Based on my understanding and knowledge, I have spent a lot of time in analysing about core things which I believe must be answered before I present it to market.  Few of them are listed below:

  1. Services my venture should be offering
  2. Markets we should be targeting
  3. What makes us competitive and stand outside the crowd
  4. Do we have a passion to address client issues
  5. What kind of talent we should be hiring

In the process of answering above points, I took an opportunity to meet and speak many experts who either have supported several executives in launching their ventures or have their own successful ventures in the market. In addition of seasoned experts, I also met newbies who were fairly new, less experienced and trying to launch their new start-ups. Idea of such meeting is to understand the challenges which they have faced/facing and how they are making sure that they stays passionate.

My every meeting and discussion has given me new perspective to my thought process and helped me to filter, define my offerings in a better way.  Few of those discussions were highly motivating, few were mix of positive and negative and few were hopeless but the core of every discussion was to focus on important things which will eventually help an entrepreneur to be become successful and have a successful venture.

If I have to summarize my all discussions and meeting to provide meaningful solution, I believe I can sum that in few points which are well known and shared by lot of experts however not everyone believe them till they themselves get their hands dirty in trying them. They will be:

  1. The problem and pain areas which your venture will be solving
  2. Why your potential customer think that as a problem and pain
  3. What solution/service you will offer to solve that problem
  4. How better your solution/service is from your competitor
  5. Do you have a passion to pursue that

My new venture Globality Consulting does answer above points, but these are not the only guidelines which we got to keep in mind. There is lot in there and as I mentioned above, every step we take to stabilize our own venture, a new thought comes to mind which will look more lucrative but if you are not passionate on what you started and lose focus then you opt for those options and get into a vicious, never ending circle of losing your patience and your dream and then you will end up like other sperms which don’t get chance to give life.