Monthly Archives: September 2017

Digging Your Business out of a Deep Ditch

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A dying business is something that no entrepreneur wants to deal with. It’s a fate that everyone who runs or works in a business wants to avoid, but there are times when a string of unfortunate events leads us to a declining business.

The earlier you notice that your business is failing, the easier it will be to save it. However, that’s not to say that recovering a business to make it profitable again is easy. It’s actually incredibly difficult because there are certain situations where one small mistake could cause a company to spiral out of control and fade into obscurity. Before that happens to you, here are a couple of ways to drag your business out of a deep ditch that you may have dug.

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Recognise Why You’re Failing

Make sure you understand why you’re failing. It’s perhaps the single most important piece of information that can aid you in restoring your company to a profitable state. Before you rethink your strategies or take out loans in order to save your business, you have to first understand why it’s failing. Analyze your financial situation, take a look at social media or user interaction and come to a conclusion on why your business is failing.

Was it because of a poor series of public interactions? Is it because your products are no longer manufactured using quality components? Or perhaps you simply don’t have an audience anymore because another company has taken the initiative to innovate their products. There are plenty of reasons why your business could be failing, and it’s important that you understand all of the possible scenarios and come to a solid conclusion before you do anything.

If you start spending more money or taking drastic measures to fix something that isn’t the cause of your business failure, then you’ll create more problems that ultimately lead to a failing business. Take some time to analyze your situation and discover why you’re failing. Be honest with yourself and your employees if you want to have a better chance at recovering your company.

Remember what’s important to your business

What were your business goals when you first started your company? Did you want to deliver the best possible value to your customers, or did you focus on trying to make innovative products that would draw in people who were attracted to the latest technologies? Your past goals should still be your present ones, so try and remember what made you want to operate a company in the past and go back to those fundamentals.

It’s easy for business owners to get carried away when they’re running a company. Whether it’s the fame and fortune that gets to them or the money that comes pouring in with their initial success, it’s easy to lose sight of what’s important to your business. To remedy this, make sure you stick to the fundamentals that made your business successful in the first place. Focus on delivering a professional service to your customers (or a more informal and relaxed one if that’s your goal) and remember to give consumers a product that they can be happy to own. Your customers are the most valuable people in your company, which is why they need to take priority and almost every decision you make in your company has to benefit them in some way.

Once you’ve realised where it all went wrong, rethink your business strategy and make visible changes that your audience can see. When you devote yourself to the customer instead of letting greed take over, more people are likely to use your services and recommend you. Re-evaluate how your company works and fix the mistakes that you have made.

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Securing extra funds for your projects

If you have ideas for projects that could revitalize your company, then make sure you can secure the funding required. For instance, if you have plenty of assets that are sitting around doing nothing, then you could look at information on asset based lending. It’s a fantastic way to make use of the things you already own in your business to create new opportunities that could put your company back on the map.

Another great way to secure extra funds is to crowdfund. Draw up a plan, make some samples, produce a video and then set up a funding campaign on a website like GoFundMe or Indiegogo with all of the information you want to present. This will draw plenty of attention and if people think that your idea is worth investing in, then they will be more than happy to pay for services or products in advance. It’s a great way to get funds for a new project, but it does require a competent financial advisor to help estimate the costs of undertaking a new project. Crowdfunding can backfire if you’re unable to deliver on your promises, but it does present a unique opportunity for companies that can get attention through social media.

Learn to take risks and accept mistakes

It’s extremely likely that you’ve ended up in your current predicament because you made a few wrong decisions. Don’t point fingers and blame others if the choice was ultimately yours. Understand that when you take risks, there are inherent problems that could cause it to backfire otherwise it wouldn’t be called a risk in the first place. Risks are important for business growth, which is why you need to accept that you made a decision that didn’t pay off.

The sooner you come to grips with your failure, the quicker you can get back on your feet and start over again. Accept that you made mistakes then use it to reinvent your business. Go a different path, try another product or create a unique approach to business that will work this time instead of becoming depressed or frustrated at your failure. Business leaders know the fear of losing their company, but they didn’t get to their positions without closing down a couple of businesses in the process.

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Gear Up Your Enjoyment Of Biking By Learning More

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If you are a biker, you will know how easily it can become a part of your identity. This is one of the real joys about it, and it can be a surprisingly good way to find some expression for yourself. But it is possible that you are not quite getting everything that you would like to get from your biking experience. In this case, it might be worth looking into some of the things that are worth knowing about in order to get more out of riding a motorcycle. As long as you have a keen understanding of the following, you can be sure that you will get a lot more out of the process.

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Rules Of The Road

Yes, it is basic, but it still needs mentioning. If you want to enjoy riding a motorcycle as much as possible, then you need to be certain that you are clued up on all matters relating to safety. One of the most central aspects of that is making sure that you know fully the rules of the road as they apply to you. A lot of people switch from driving a car to riding a bike, and forget that the motorcycle laws are actually markedly different from the car laws. So if you want to get more out of riding, you need to make sure that you are well-versed on exactly what the rules are for you.

Traffic Lights

Something that is worth appreciating before you set out is that your relationship to traffic lights is going to change dramatically compared to driving a car. One of the main ways in which this is the case is that when you are riding a motorcycle you are not able to trigger the lights as you can in a car. This is because most of the triggered lights work on an induction loop, which completes the circuit when the weight of the vehicle is on top of it. But you are probably not going to be able to do that, and it is worth knowing that beforehand and not being too surprised or confused when it happens later. Be prepared to wait for a long time at lights, as it will become part of your riding experience fast.

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Clubs
There are many reasons that a lot of bikers like to meet in clubs and groups. Despite what you might have supposed, there are real benefits to doing so. Not least is the fact that you will be able to learn much more about all the various elements of riding a motorcycle compared to if you do not hang out with other riders. But you will also be surprised at how much local knowledge you can pick up this way, and often much of it relates directly to staying safe or getting the most out of the local roads. It is well worth joining a local club and seeing what you can discover this way, as it will change every aspect of your ride in no time.

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Driving Emergencies: How Would You React?

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For the most part, driving is enjoyable and safe. Cars are far safer than they used to be, with manufacturers learning from accidents of years gone by and improving standards to a huge degree. The science of keeping cars safe while driving has become so powerful, the modern driver could be forgiven for forgetting just how dangerous cars can be.

Even with all this innovation, sometimes it is helpful to be reminded that there’s no car in the world that’s accident-proof. If any manufacturer ever claims to have made an accident-proof car, then be doubtful; remember what they said about the Titanic? Just like it’s impossible to create an unsinkable ship, it’s impossible to create an infallible car. Emergencies can and do happen — the question is, would you know how to respond to them if you’re behind the wheel when they occur?

EMERGENCY: A Tire Blows Out

Having a tire blow out is a terrifying experience, but thankfully one that most drivers manage to navigate without much damage. How do you think you would react in such a situation?

The reason most drivers get through a tire blow out with nothing but a new tire required and a small auto repair bill to pay is because they react quickly. If you hear a tire blow out while driving, here’s how to handle it:

  • Don’t brake.
  • Keep your hands steady on the wheel and hold them firmly in place.
  • Let the car slow itself by removing your foot from the gas.
  • Pull over where it’s safe to do so.

EMERGENCY: Aquaplaning

Aquaplaning occurs when the surface is so wet, your car tires can no longer grip onto the road. The tires begin to spin, seeking traction, but getting none; your car then begins to drift, unable to find any grip on the road. It’s a dangerous circumstance that can and does lead to accidents. Even though it’s fairly rare to experience due to the individual conditions required for it to occur, you’ll be a better driver when you know how to handle it:

  • Leave the pedals alone; don’t brake and don’t accelerate.
  • Gently steer — more nudging than yanking the wheel — the car in the direction you want it to move. Don’t be alarmed if it doesn’t initially respond.

It’s worth remembering that prevention is better than cure when it comes to aquaplaning. Check your tire pressure regularly, with extra checks on the tire tread if you’re going to be driving through wet conditions.

EMERGENCY: Skidding

Finally, the most common emergency: skidding. Ice, mud, or just wet ground can be the cause of a skid. Here’s a quick refresher on how to manage the situation:

  • As with the first two examples, take your feet off both the brake and the gas.
  • Steer into the same direction as the skid.
  • The car may then react by skidding in the opposite direction. Once again, you repeat the same steps and stir into the skid.
  • The car should now right itself.

Skidding is more likely in winter, so remember to use snow chains if the weather is particularly foul.

By brushing up your knowledge on these potential driving problems, your time spent behind the wheel will be safer than ever.

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Caring For Your Elderly Parents: Don’t Get Overwhelmed

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The day will come when our parents will no longer be able to drive around. They won’t be able to climb the stairs, or walk the dog, or maybe even prepare their own food. As sad of a thought it is, it’s important to prepare yourself for it, because unfortunately, it’s inevitable – it’s just part of life.

It may become your job to make sure that they are looked after and comfortable for the last stages of their lives.

There are many things to consider, including options such as high quality in-home care, but here are some of the most important pieces of advice.

Love your health care services.

When you arrive at this phase of life, your best friends will be the ones who are helping you and your parents. Anyone from the social worker, physical therapist, cleaner, doctor, nurse, and even that caring neighbor that brings round that delicious peach pie. – Whoever is involved in your lives, you will want to make sure they are all uplifting and have positive thoughts, because that’s what’s needed at a time like this. So anyone that does enter your life for the better, keep hold of them. Let them know how much you appreciate them, and hope they stick around.

Ask for help.

As much as you may like to do everything yourself, especially as they’re your parents, sometimes it’s just no longer possible. The stress itself of having to be on the ball all the time while juggling your own life and responsibilities like work, can all become too much to deal with, and you may end up making yourself ill, and if that happens, you won’t be able to care for your parents anyway. It may be time to find an affordable home care where they will get all the care they need while taking the stress off yourself. There are plenty out there; you just need to find the right one that works for you both.

Depend upon your spouse.

Sometimes, your parent may seem to have more of a connection with your other half than you. This is never a nice feeling, and can hurt a little, but it’s never out of bitterness. Usually, this happens because your parents don’t want to put all of their baggage on you, or bring you down, or feel like a burden – even if you’d welcome it. If this is the case, let it happen. If your other half is happy to do so, use this to your advantage, and just be there with them.

Protect your emotions.

The only other people that know how to play on your emotions more than you, is your parents. It’s very wise to do all you can to protect these in as many ways as possible so your parents can’t find them. Of course, you may not be having any problems with your parents, but every now and then it can get rather heated because there’s a lot of anger and frustration up in the air, and sometimes your parents may push certain boundaries to cause a reaction. Don’t let this happen.

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Simple Steps to Better Manufacturing Quality

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Good business owners do whatever they can to improve quality of their goods and services, boost their bottom and reduce waste. A big part of this, for businesses that manufacture goods, at least, is to continuously work towards improving manufacturing quality.

If you run a business that manufactures and sells goods and you aren’t working to improve manufacturing quality at the moment, you should start now, and here are some steps to help you with that:

Use Teamwork

If you want the overall quality of your manufacturing to improve, you really do need to get your employees working together as one big team. It’s all well and good having good individual employees with excellent individual skills, but if they aren’t able to integrate with others and find ways of merging their skills to make processes more efficient and quality better, it’s pretty useless. So, ensure that every member of your team knows the whole picture and that they have plenty of opportunities to get together and discuss processes and issues.

Look at the Product as a Customer

If you want to increase your product’s quality, so that it will sell more, you really do need to look at it with the eyes of a consumer. Think about what a consumer would use your product for and how it could be made better. Hudson did this when they created their Heavy Duty Caster Ball Transfers, which made it easier for other manufacturers to move heavy loads with ease; Ray-Ban did it when they started making their foldable aviators which are easier to carry; and Ecostatic did it when they made their post-it notes reusable to save their customers’ money and reduce weight. You need to find your way of doing it and approaching manufacturing as a consumer is the way to do that.

Make the Cost of Defects Known

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One thing that really helps defects to be ironed out in manufacturing, thus reducing costs and increasing sales, is working out the cost of fixing a defect once it’s gone to market and making this known to all employees. When they know just how expensive the costs of replacing goods, honoring warranties and limiting damage done to the company’s reputation can be, they’ll be more on the ball and better at catching problems earlier on – after all, their jobs depend on the success of the products they create, and they all know that.

Use the Best Tools and Materials

It should go without saying, but as a company that relies on manufacturing, you really should be investing in the best quality tools and materials to do the job you require. It might save you some upfront to buy inferior products, but it’ll save you money in reduced wastage and increased sales in the long-term, not to mention the fact that your products will be looked upon as some of the best in their niche, making the investment a worthwhile one.

Enforce Consistency

You need to be flexible in manufacturing, but one aspect of discipline you should never let slack is in the area of consistency. Your staff must be compelled to work consistently to ensure that all of your products are made as effectively, efficiently and well as possible.

Do you work in manufacturing? How do you keep the quality of your processes, and therefore products, high?

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How To Lower Your Car Expenses!

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The second most expensive purchase – after a house – that someone will make in their life, is their car. The common annoyance with buying a vehicle is that the costs don’t end when you drive away in comfort. Owning your own car comes with fuel costs, tax costs, repairs, licensing costs and insurance. Sometimes, the costs can feel never-ending!

Understanding the costs that you should expect when you drive your own car can be overwhelming, and once the car is parked up in the garage, you can get creative about how you can save money on your ongoing expenses. We’ve put together some of the best ways you can save your cash when you run your car, making it far more economical for you to be on the road and free!

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Fuel

The first place you can really save money is on your fuel. By driving in a sensible manner, not speeding and stop idling when parked, you can stop wasting the amount of fuel you are spending out on each week. If you are setting the air conditioning on high every day you are driving, then you are going to be wasting your fuel, so it makes sense to try and go without it if you can! You should be able to save money each year by making simple changes to the way you run your car

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Insurance

Car insurance is a huge deal for most customers, especially the youngest out there who are new drivers! By using websites like cheapautoinsurance.co, you can find the best price for your circumstances. Shopping around is important when it comes to insurance, and even when a price looks great there’s probably more companies out there that can offer you less to pay out. If you have an existing insurance policy such as life or home insurance, you should be able to bundle your policies, so speak to your current insurer to get the best information and advice.

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Repairs

Car repairs can be costly, so it’s important to be aware of what your car needs and when it needs it. Self-teaching how to do the minor fixes your car needs; changing oil and lightbulbs and such, will be a good way to ensure you can save some money on your garage bill. Cutting out the hard braking can help you keep your car in good shape, meaning that you can make good savings on your car repair bill.

Cars are a high-cost item to own, but that doesn’t mean they have to stay costly. Making smart and savvy changes can keep that initial outlay the most expensive part of car ownership and the rest of it more manageable. Owning a car is never going to be overly cheap, but that doesn’t mean you have to pay through the nose for it! A car is a way to be free on the road, and freedom shouldn’t cost you everything you earn.

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Ensuring Your Parents’ Safety Behind The Wheel

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Parents worry about their kids. So, when you teenager passes their test, the first thing you think of is their safety. But, it isn’t only young and new drivers who need your attention. Older drivers need focusing on, too. Let’s face it; the elderly can turn into bad drivers. That’s not to say that every pensioner shouldn’t be on the roads because that isn’t true. However, they do put themselves in dangerous situations from time to time. Because you don’t want any elderly relatives involved in an accident, it’s better to ensure their safety.

The following are four ways to do that for your parents.

Make Sure They Have Their Glasses

People think that the elderly have a problem with driving because of their reactions. Usually, this is only half of the story because they drive responsibly. For the most part, it is down to their deteriorating eyesight. Because they struggle to see during the day and at night, they take risks which they shouldn’t. Pulling out in front of cars they don’t see, for instance, is something you’ll hear a lot. To help them, try and make sure they have their glasses at all times. They will forget, but you can’t if you want to keep them safe.

Turn Up Their Hearing Aid

It is easy to see why a pair of glasses is necessary, but a hearing aid isn’t as apparent. Surely they can get by without one? Maybe they can, but it’s a bit of a gamble. Driving is not just about eyesight; it requires all of the senses. If your parents can’t hear anything because the aid doesn’t work, they are in a vulnerable position. Anyone can beep to make them aware of their presence and they wouldn’t know. Firstly, they need to wear it just like their glasses. Secondly, they need a hearing aid repair service if it breaks. Finally, it should be on a high setting so that they can hear every sound.

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Check The Car

To be fair, their health might not tell the whole story. After all, the car plays a significant role in driver safety. When it isn’t up to scratch, anyone, healthy or not, is taking a risk by getting behind the wheel. It’s for this reason that the car needs regular checkups. The fact that a driver with no issues could have an accident is scary. But, it’s more frightening for a senior because the odds of an incident are higher due to their health problems. At least when a mechanic gives it a once over you know the car is road legal.

Retake Test

They won’t want to do it, but getting them to retake their test is a savvy move. As people age, they don’t realise they are a danger to other drivers. Only by getting an expert to evaluate their skills will they be aware. Also, if they pass, it’s a sign that they are okay to drive for a while longer. But, you’ll never know until they retake a practical assessment.

The bottom line is that you want to keep them safe on the roads. The advice above will help you do just that.

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Could Manufacturing Be Your Money Maker?

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When you want to go into business for yourself, it’s common that you’re going to want to choose a path that’s going to prove successful. Unless you have a set skill or experience in a particular industry, you may find that you’re best off working with a business idea that will prove fruitful, and manufacturing is always going to be one of them. Because in business, you need to be able to ensure that you’ve got a ready-made audience to buy your products, and that you’re able to make a healthy profit with whatever it is that you’re going to go into.

 

Do Some Research

 

But don’t just jump in. Unless you’ve run a few successful manufacturing businesses in the past. of course. If you want to ensure that you’re going to be successful when you start your manufacturing business, you need to do some research. You not only need to be able to understand the manufacturing industry, but you should also try to find a product or idea that will make you money. Because your idea has to be profitable if you’re going to make a success of it. And plucking a product from thin air just can’t cut it. So do your research and decide on a product that will be the perfect fit.

 

Make Connections

 

When you’ve got your idea, you then need to try and make a few connections. It might sound a bit strange, but this is going to be a huge part of making what you do work. When you running a manufacturing business, you need suppliers and a manufacturing space among other things. And you can often rely on those connections to be able to find both. So start networking as soon as you can.

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Build A Network

 

While you’re out there and building those connections, you should also think about building a strong network of people that are going to be essential to the running of your business. From experienced packaging professionals to a domestic manufacturing accountant, you need to find the right people. Because you’re going to need people that are specialists in the industry so that they can support what you’re doing.

 

Set A Strategy

 

Then, you’re going to want to work on a solid marketing plan that can push you through your business and ensure that you’re able to get some success. Because creating a product is just half of the battle, you have to then be able to worth through a series of steps that are going to get your product out there, create a need, and drive your sales.

 

Always Strive To Improve

 

And above all else, you’re going to want to work consistently on your innovation. It’s important that you’re always able to improve your product and your processes to ensure that what you put out there is better than the rest. You need to be able to stay better than the competition, to grow and succeed. And the only way that you’re going to be able to do that is to constantly strive to improve in everything that you do.

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Stay Cost Savvy In Construction

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If you are already working as part of the construction industry, you probably know how easily costs can grow out of control. Just think about all the expenses that you’ll need to take into consideration from machinery to vehicle hire and of course, paying for the staff. This is why, despite being profitable, construction can be a rather difficult business to make a profit in. So, you have to learn how to be cost savvy, and there are various steps to take to ensure that the costs of construction don’t get the better of you.

 

Trust Your Suppliers

 

Yes, you certainly do need to be able to trust the suppliers of the materials that you’re using. You don’t want to be left high and dry without the materials that you desperately need for the job at hand. You might wonder how this affects costs. Basically, if you don’t have the materials you need projects and builds will be pushed back and delayed. Since they will take longer, this is time that you could spend on other projects. And don’t forget if a delay is your fault, you can’t expect the client to pay more money. This is basically a lesson about making sure you know who you’re getting in bed with. You don’t want to wake up in the morning to a nasty surprise.

 

Hire The Best Avoid The Mess

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You want to make sure that you are hiring the best workers for your construction business. It’s important that you don’t end up in a situation where you are hiring unlicensed labour. The benefit of unskilled labour, of course, is that they will be cheap. They’ll work for a fraction of what someone qualified would expect in pay. You might think you can cut corners here, putting them in charge of simple, easy to complete jobs. Be careful though because if there are any disputes about the quality of your service, you could end up in a position where you’re being sued for thousands. You don’t want that and it can be avoided as long as you hire the right team from day one.

 

Don’t Buy, Rent

 

It’s far better to rent than buy in construction. If you buy then you will be spending money for products that you won’t always be using. This is a massive waste of money that you simply cannot afford. Particularly with all the other bills putting pressure on your company. Luckily with services like Flex Fleet Rentals, it’s easy to get the vehicles you need for your construction company without paying the full cost. Instead, you can simply rent when you need them and keep your business completely flexible.

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Use Tech

 

Finally, you should make sure that you are using the available tech in your construction company. There’s various technology on the market right now that can make your life as a construction business owner far easier like cloud servers. Cloud servers will allow you to keep a check on your projects even when you’re not on the job site, allowing your business to maintain a higher level of efficiency.

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Keeping Your Construction Company From Falling Apart During A Recession

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The success of the construction industry is tied to the economic climate as a whole. During a downturn, people will be trying to cut costs and they won’t be spending money on expensive home extensions or other construction projects. Your company will be hit hard during a financial crisis so you need to take measures to keep yourself going until things start to improve and the work starts coming in again. Most companies cut costs when they’re starting out but they neglect to do the same once they’re established. If you don’t watch your expenses, you risk folding before you get the chance to bring in more money. But don’t worry, just follow these simple steps to keep yourself afloat until things get good again.

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Repair Your Own Equipment

 

Buying new equipment is one of the biggest outlays for a construction company and when money is tight, it will eat into the already small amounts of profit that you’re making. When something breaks, instead of just replacing it go to an HW Part Store and get the bits you need to fix it. This is a good skill for your team to have in general because if something goes wrong on site, you don’t have to wait around for it to be replaced. Even after the economic downturn has ended, you should carry on this practice anyway.

 

Avoid Rework

 

Having to go back to make changes to a job that you thought was finished is going to cost you a lot. The price will already have been agreed and the customer won’t pay you more to come back and sort any problems that you’ve left behind. That means you’ll have to pay labor costs that will eat into your profits. To avoid this, you just need to make sure that you’re paying attention to detail when you’re finishing up a job and make sure that there are no problems that you’ll have to go back and fix.

 

Build Relationships With Suppliers

 

Cutting the cost of materials is a great way to keep costs down when you’re struggling. If you build and maintain good relationships with suppliers, they’ll be more likely to be sympathetic to your position and give you discounts when you’re struggling for cash. The larger suppliers aren’t likely to change their pricing structures for you but smaller ones will be more flexible so try to buy from local suppliers when times are good and they’ll return the favor when you’re struggling.

 

Multipurpose Labor

 

Hiring a separate guy for each job that you need doing is going to cost you a lot, and half the time they won’t be doing anything. If you hire more experienced workers that can fill a couple of different roles, you’ll massively cut your labor costs. In some cases that won’t be possible, you’ll need to hire specific electricians and carpenters but when it comes to general labor you’ll be able to double up on things a bit more.

 

An economic downturn can spell disaster for your construction company but if you take the right measures, you can keep yourself going until you can find more work again.

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