The construction industry is another world that offers a lot of fascinating adventures. It is because the contractors have to deal with a lot of things in order to complete the projects. Among these factors, there are some potential reasons that may lead the project towards postponements leading to claims.
However, the contractors can avoid a few situations to proceed with the building process while there are some events that cannot be eliminated at all. These events are known as excusable causes of delays in construction. Here is the best formwork company in Melbourne without any delays in construction.
Generally, delays are broadly divided into excusable and non-excusable delays. Excusable delays are related to natural and state-controlled events that are beyond the area of management by the contractors.
For example, natural calamities, weather conditions, and government policies are considered a potential factor of construction postponements. So, the contractors usually considered to take assistance from Experienced delay expert to ensure proper evidence collection and strategy making to deal with the claims.
Some people think that excusable delays cannot be avoided but there is a will – there is the way!
Top Tips for avoiding excusable delays
Nevertheless, delays in construction are detrimental to the success of the projects. Owing to this reason, the contractors try their best to avoid them as much as possible. However, excusable postponements are considered difficult to the extent of impossible to be eliminated which is not true.
Here are given a few surefire ways to escape excusable delays:
Detailed Analysis of construction site
The best approach to delays is to analyze the construction site thoroughly. It will give you a clear picture of the working conditions and other related aspects of construction.
Make sure that you have an expert geologist on your side for better understanding and analysis.
Stay Informed about climate changes
One of the most significant reasons for excusable delays is the changing environmental conditions. No doubt, natural calamities cannot be avoided but it is possible to minimize the losses with proper planning.
So, contractors should stay up to date with all environmental situation and climate-related information to prepare for the worst situations. Be on time to deal with climate change!
Make a work plan to accommodate change
Sudden changes in the projects usually result in work postponement or delay. So, the contractors should devise the work plan of the construction in a way that can accommodate project modifications.
It will not only help to avoid delay but also build cordial relations among the contracting parties. Ultimately, the project will be completed successfully.
Go through the documents to avoid errors
Contractual errors are the most common reasons for construction delays. There is no denying that err is human but professionals should focus on eliminating the risks of major mistakes in the contract before signing it.
For this reason, it is better to look for the contract documents multiple times in order to ensure the quality of every clause written in the contract. Don’t forget to read it again and again.
Ensure No-involvement by external agencies
Sometimes, the involvement of third-party in the construction site or process can potentially hinder the work of contractors leading to delays. However, it can be avoided by signing the contract that restricts the powers of external agencies in the project.
So, you should consider getting involved in a project that can be handled independently without the help of any third party.
Stay aware of the potential risks of labor strikes
An imbalance in the economy and the staggering nature of the construction sector may lead to labor disputes and strikes. The contractors should be aware of such events possibly happening in the coming days.
It is because the awareness will help the builders to divide their tasks schedules accordingly. In this way, the effect of the strike will be minimized through proper planning.
Always have a plan B for every process
The nature of excusable deferment is critical because a few incidents can potentially hinder the construction process. The contractors must be aware of the situations in order to deal with the unavoidable circumstances.
So, it is suggested to look for experienced delay expert for the resolution of the dispute. The professionals always come up with possible ways out to minimize the risks as the result of building postponements.
Build a trust relationship with the owners
Last but not least, the success of construction projects depends on mutual understanding and trust between the contracting parties. It is, therefore, essential to establish trustworthy relationships among all the involved party.
The benefit of this is that if a delay occurs, the parties will understand the nature of the problem without getting anxious or panic. So, the solution to the problem can be sought without harming the interest of anyone.
It is generally thought that excusable delays cannot be avoided which is not true. However, exceptions always exist in every situation. Therefore, it is better to stay prepared for the worst-case scenario as if you have to encounter delays in construction.
So, don’t forget to acquire the services of delay witness professionals for dealing with disputes related to postponements of projects in construction.
Things to keep in Mind while Hiring a Customs Brokerage
A customer broker works on the behalf of the importers and exporters and helps them with dealing with the logistics and legalities which are involved with the process of exporting and importing goods. Importing from across the border seems like a lucrative option if you can purchase some goods at a cheaper price which are not available within your country. This is why people who are in the business of imports and exports wonder about having their products cleared at the border and who would be in charge of the customs formalities at every international border that your products cross.
A customs brokerage firm can help you to get rid of the stress involved and have the peace of mind that you always wanted. However, there are several things to keep in mind while hiring a customs brokerage firm to take care of your products.
Look for experience
Just because someone has the license, does not mean he is an expert in properly dealing with your goods. The sad reality is that not all brokers are experienced enough with providing the necessary skills to provide their service to certain industries while simultaneously dealing with those countries which have a hostile attitude towards yours. Experienced brokers are generally prepared to face these situations and can save you both time and money which you could have lost if you went to a novice.
Research on your own
Although word of mouth is useful when you are looking for someone to deal with your goods but it will be foolish on your part to solely rely on the recommendations you hear from others. Often the reality of the matter is entirely different from what you hear and it will cost you heavy if something happens to your goods while they are on the transit.
The smart thing would be to shop around for names and create a list based on your preference for the list of competitive firms that you would like to consider. You can then visit these brokers and rank them accordingly so that you have a clear idea of what to expect when you would hand them over your goods.
Only look for licensed brokers
While looking for brokers, the first thing that you should do is to look for the license. Although it seems like common sense many people overlook it for having their goods delivered cheaply and then pay the price when something goes wrong.
Unfortunately, they cannot do something about it as the law would not have the jurisdiction to punish such brokers hence you will likely be the only one who will suffer. By producing a license you can trust the custom broker as he will be a professional and you can sue for damages if anything happens to your goods.
Find a broker who has an efficient team
One of the reasons that clients do not trust some of the big firms is because they also offer other services that make the clients question the priorities of the firms. Many reputable companies who offer such services have proved that they can grow in the industry and create a wider range of services for their clients.
As you can never be sure and it is best to practice caution, you should choose the firm that has a dedicated and efficient team with the expertise that you can trust.
Choose one that compliments your business
One of the options you can utilize is choosing a brokerage firm that offers the services which cater to the needs of your business. Large companies usually approach firms that offer a variety of services that can provide efficient services and are in line with the needs of the company.
Small and medium scale businesses can look to brokers of the same scale as they do not need a variety of services and will look for specialized brokers who can complete their job at a fast rate which is exactly what your business requires.
Ask relevant questions
You do not need to shy away from asking questions about stuff that you are not aware of. A customs broker who is sincere about working with you will always be open when discussing the details with you and will respond to your queries. It is important to take a step back when deciding which broker to choose and get in touch with every broker within your shortlist and ask relevant questions regarding customs clearance which will help in your decision making.
To conclude, the first thing you should understand about custom brokers is that they are professionals who are there to help you with importing and exporting goods as they are familiar with the different rules and regulations. You should always go for a broker that is in line with the needs of your business and is in the trade for some time so that he knows how best to handle a situation when it looks tough to deal with.
Secrets of Maintaining a Successful Business
Competition is at its peak, irrespective of whether you are running an online business or an offline business. You are still in competition whether you are a start-up company or large enterprise. In general, generating optimum revenue out of the investment is not an easy task. It requires a lot of effort and planning.
In this article, I am writing effective and tested tips to achieve and maintain business growth. In a nutshell, I am sharing the business experiences and lessons that I learned in the last 20+ years of my business.
#Tip 1: Do not make unrealistic claims
If you are running an eCommerce store, be honest about the key specifications and benefits offered by your product. It’s good to highlight the main features of the product and sometimes even better to mention the product advantages if it adds value. Do not try to make false claims to entice the customers.
#Tip 2: Follow the 80-20 Rule
The 80-20 Rule states that 80% of results are derived from 20% of efforts. This signifies that a small amount of effort can lead to a large amount of results, if efforts are made in the right direction, at the right audience, time and place. Great results are not necessarily derived from working long hours and unending days. They come from working smartly on things that work best for your business. To magnify your business results exponentially, you should identify efforts that produce the biggest results and scale them.
#Tip 3: Always try to maintain a debt-to-equity ratio
To maintain healthy business finances, never let your debt exceed your equity. You should always try to maintain a 1:1 Debt to Equity ratio.
#Tip 4: Don’t be just an owner, take ownership too
Do not allow the success and failure of your company to be dependent on somebody else. The things that determine the success and failure of your business should be solely dependent on you. Change your players, but do not change your operations, control and goals you want to achieve.
#Tip 5: Understand how your business actually works.
Even if you hire an experienced team of professionals in your company, you still need to understand the strengths and their field of expertise. You need to ensure the role and work stream of every team member within your organisation.
#Tip 6: Make projections based on facts and figures
It’s safe to make business forecasts and projections based on prior history, authentic data, facts, and figures. At times based on your experience you may have a reasonable opinion to support your suggestions and figures, but it would not be a good idea to blind guess any future projections.
#Tip 7: Have a solid plan to measure your success
Where do you want your business to see in the next 5 years?
How will you achieve your business goals?
What parameters you’ll use to monitor the progress?
To answer all these questions, it is vital to have short-term, medium-term and long-term business plans.
#Tip 8: Adopt new technology quickly
In this world of technological advancement, using outdated technology could be worse for your business. The sooner you adopt new technology, the more chances you have to increase the benefits for your business. Innovative practices do help to enhance the internal efficiency of the business, which is important for the firm’s success.
#Tip 9: Work with Freelancers
To avoid fixed expenses in terms of salaries, collaborate with professionals who work as freelancers. For the services and work that aren’t required regularly, hire people with specialised skills and knowledge. This will be a cost-effective way to get your work done.
#Tip 10: Analyse your competition
It is always recommended to study your competitors; you might learn some important business tips from them. Identify and examine the strengths and weaknesses of your competitors, analyse their strategies and spot the areas where they are most vulnerable. Analysing your competitors can help you to know in what areas you are lacking behind and what competitive advantages your business holds in the industry. Accordingly, you can plan your business strategies that work in a better way than your competitors.
#Tip 11: Be patient, creative and stay focused
Just because you chose the best website development company, developed your business website on the best web development platform and implemented the right business solutions does not mean your business is immediately going to make money. You need to be patient! Always make continuous efforts and look for new ways, ideas and approaches to improve your business.
#Tip 12: Do take out time for networking
Try to take out time to attend industry events, join professional organisations, and conferences that can familiarise you with people or groups who can be important for your business. If you feel you aren’t good enough for networking, find a partner who can represent your business.
#Tip 13: Take care of your Customers
Customer satisfaction should always be on your priority list. Be it any business, SME or large enterprise, the major portion of revenue comes from repeat customers. This is why retaining the existing customer is equally important as identifying and targeting new ones. Do take care of your customers and your customers will take care of your business.
#Tip 14: Don’t be afraid of Risks
It’s important to take risks too! However, it is critical to balance risk-taking with safety. This is why we suggest you take calculated risks that have a higher probability to generate tremendous rewards. Make sure the return is worth the risk; thoroughly weigh the pros and cons when you decide to take big risks for your business.
There is no one right way that guarantees business success. Following the best business practices, expert advises, effective financial management, and the tips listed above can give your venture a better chance of succeeding. You can also choose Web Design Bromley agency if you are looking for local company in the United Kingdom to maintain your business.
4 Negotiating Tactics for Fast Growth-Minded Businesses
In business, it would be difficult if not impossible to achieve a notable measure of success without having inked a significant number of agreements with other parties—most appreciably with conflicts inherent in the process having been pleasingly overcome for all involved. Whether negotiating a sale with an existing customer or prospective new account, contracts with vendors, deals with company and industry stakeholders, a M&A situation, the salary of a new hire or any other, negotiating is a fundamental driver of a company’s prosperity. The better company personnel are at negotiating, the more successful it will be. It’s that simple. Of course, negotiation is a learned skill that one must first master and then continue to hone—one involving psychological intuition, emotional control, cognitive agility and even creativity combined with practical and tactical skill.
I reached out to senior-level international negotiation consultant Ruth Shlossman for some fresh tips on how fast trackers in particular can facilitate strategic agreements more effortlessly and efficiently. And deliver Shlossman did, which was no surprise given her lofty pedigree in the negotiation space, perhaps best exemplified by her newly-released title “Negotiate with Ease”—a book billed as one “guaranteed” to help readers negotiate successfully.
Through that exchange, Shlossman kindly offered up these four key negotiation truths and strategies that, she asserts, can significantly help propel fast growth-minded businesses.
1. Facts over emotions: Negotiate based on actualities
While it seems elementary, this idea is worth a foundational mention as a shocking number of professionals approach the negotiation table wildly under-prepared. Before entering into any negotiation, you need to know your facts and be ready, willing and able to present them well. For example, if you are negotiating about a trade, you should know your costs including engineer services, raw material fluctuations, delivery options, consignment costs and currency concerns. Identify the core issues and how they will affect the various outcome of the bargain. Before reaching an agreement, make sure you understand what it constitutes and the value it brings to you. Failure to understand what you are agreeing to, from every viewpoint, can result in a costly concession that you may never have an opportunity to change.
Take time to understand the other person or company as much as possible. Also understand the issue that you will be negotiating, and what each of the parties expects. For instance, if you are conferring to buy a new building, several issues are worth considering. The length of time the property has been on sale, the number of buildings on sale in the area and the possibility of zoning changes. As you think of such issues, you will identify which can serve as leverage to gain the most out of the agreement.
2. Make a trade with every concession
From the start, you should consider and include every possibility of the negotiated agreement. Think about each various facet of the deal upfront and consider the risks of making costly concessions related to any or all. One method that is used in the Chinese culture is where negotiations are conducted with a long-term mind-set. You need to consider factors like the ten-year plan of the other company and what would happen if technology changes or demand doubles. Think of what would happen in case of raw material shortages or if the company gets acquired by another. Considering such “what if” scenarios can save you in terms of money, time and the stress of negotiating.
It’s also prudent to look for any clues about the other person’s underlying interest, which will better enable you to negotiate on what matters to that person. For instance, timing may be the most important factor for the other party when you are considering a merger and acquisition. Perhaps upfront costs may be their deciding factor when entering into an investment. For you to be a solid negotiator, you need to take the approach of a detective and seek to identify the interests of the other party to parlay.
3. Avoid being transactional—see the bigger picture
After identifying the core issues in a negotiation, develop the best possible outcome—optimally equitably for all involved. Also known as the Best Agreement to Make (BAM), this should be your opening offer. At the same time, think about your target, possible final offer and what you may use as a “Plan B.” Consider the various possible negotiation’s outcomes, including potential future problems related to each. A successful result is one that’s pegged on the identification and even anticipation of potential problems, allowing you to take a stance that benefits you the most.
4. Align with stakeholder interests
In any negotiation, it’s imperative to identify your company’s true interest and negotiate to align that strategic interest with deal terms. When negotiating with new clients or suppliers, the stakes of a fast track company are usually higher. How a negotiated agreement begins determines the way forward, even for the decades to come. Since it is often more difficult to change an agreement than to create one, it is also important to start on a high note. The moment you erroneously say “yes” in a negotiation, keep in mind it can be both costly and painful to turn that “yes” to a “no” or back down later on. So, proffer affirmations judiciously.
The most important thing for your company could be a longer contract, joint PR, training, a new way of tracking orders or teaming up to improve engineering services. Whatever the interests are, ensure you are speaking on behalf of your company’s stakeholders. This could include members of the marketing team, engineering services, accounts payables, operation or the core leadership team. Think of the hidden costs in the terms being negotiated to avoid entering into an agreement that will end up being costly in the long run.
Fast trackers would do well to read, and perhaps re-read, these tips from Shlossman slowly—but implement them quickly—to negotiate more confidently, skillfully and shrewdly and, in turn, realize (and sustain) rapid advancement of your own.
Pallets for your Business – Getting it right
A pallet is a structure often used to transport various types of material in many different industries. It is an efficient method of storing and transporting goods. It is highly beneficial to invest in once since it is very convenient to use for all concerned. It is easy to handle as well as a crane to mauve during the process of loading and unloading.
The contents of a crate are easier to handle during the process as well. Crates have been in use for a long time; however, these were traditionally made from wood. There are many other types of pallets also available like that from plastic, metal, paper, etc. The roto-molded pallet is a popular one and has several applications.
Types of Pallets
- Roto Moulded: This type of pallet is similar to injection molded pallet; however, it is denser, stronger, and more durable. These pallets are made using a rotational molding method and are highly economical. They are available in many different sizes and are very practical since their load-bearing capacity is high. These are also very hygienic to use.
- Plastic Pallets: This is often used for the pharmaceutical industry due to its high level of cleanliness and hygiene.
- Injection Moulded: This is an ideal pallet for lightweight goods since they can be handled well by lifts and is also suitable for storage on racks or a floor. These are flat pallets that are easy to lift and transport. It is also washable, corrosion-free, and highly durable.
- Flyash Brick Pallet: These are low-cost storage pallets made from composite PVC with a thickness ranging like 20m or 30mm, and it is available in many different sizes too.
- Stringer Pallet: A stringer pallet is one with additional support and is essentially two boards running between the top and bottom decks. It is only possible to lift this type of pallet from the sides. There is an option of selecting a four-way pallet as well, making it simple for a forklift to pick up.
The Rotomolded pallets are used for many different applications and several industries too. Some of the informal sectors are used in the manufacturing industry, consumer durables, chemicals, dairy, eCommerce, logistics, food, automotive, shipping, pharmaceutical, military, and more. For vegetables, plastic crates can be used to ensure that everything is stored in a safe zone, without disrupting their shape or taste.
Factors to consider when selecting one
Roto-molded pallets are useful for many types of businesses to store, warehousing, and transport. It is necessary to make sure you get the right kind of pallet to suit your business. They are available in many different shapes, sizes, and capacities, which is also something that you need to consider.
Here are some of the common factors you need to consider:
- Type of products: One of the most important factors to consider when selecting pallets is the type of product it is meant for. It would help if you also considered the weight of the goods and industry before choosing the right material.
- Type of use: Pallets can be reused; hence if it is required for a one-off shipment, it is more beneficial to consider a reconditioned pallet. On the other hand, if you have frequent use of a pallet, use one made from more solid material and one that is more durable.
- The dimension of a package: Make sure you are aware of the height and width of your package to ensure you have the pallet of the right shape and size.
Method of shipping: It is highly likely you require pallets for storage and transportation. In this case, you must acquaint yourself with the conditions in which it is transported, it is temperature-controlled, and the amount of care used to handle it. It is also vital you be aware of the shipping destination of your crates.
Four-fold jump in LPG consumption but industry faces challenges in Bangladesh
A relatively new industry segment in Bangladesh, LPG is setting new frontiers of growth as the nation has stepped up its energy requirements – making the LPG demand grow exponentially. To encourage the use of LPG, government has favorable policies in place. Market insiders says, due to increased use in households, commercial entities and vehicles, the country has seen a four-fold jump over the past three years in LPG consumption.
Though introduced by the state-owned Bangladesh Petroleum Company (BPC) back in 1978, LPG has only gained prominence after 2008. According to the annual report of the Energy and Mineral Resources Division (EMRD) of 2018-19, till last year, the number of LPG consumers was 38 lakh against 2.5 lakh in the year 2009. Owing to increased LPG consumption in Bangladesh, the number of such companies has increased rapidly.
While the use of LPG is growing exponentially, the most recent emphasis has been to handle the flammable product safely. Amidst rising safety concerns, companies are bringing in innovative methods to enhance the safety levels of cylinders. For instance, Beximco Group, co-founded by Salman F Rahman has introduced the composite fiberglass cylinder which is a Type 2 or 3 cylinder, through its Beximco LPG unit – making the LPG cylinders more viable in the Bangladeshi market. The safety tenet also appeals to the rural diaspora, where people still rely on wood fuel.
Salman F Rahman also serves as the Private Industry and Investment advisor to Prime Minister Sheikh Hasina – which might bring the household energy aspect more prominent in the plans of the government in the future.
M Muntasir Alam, Chief Commercial Officer of Beximco LPG, informs, Steel cylinders are very hard and the gas pressure is always very high. Exposing them to extreme heat of the kitchen can lead to expansion of the gas inside the cylinders, making it highly flammable.
Salman F Rahman, MP from Dhaka-1 Constituency, who has already been working towards the installation of renewable energy grid in the country recently cited “We are self-sufficient in food, developing our electricity sector and our population growth is also under control.”
Furthermore, awareness sessions hosted by Ministry of Power, Energy and Mineral Resources have been centered on enhancing the existing facilities in the country- accessing all the risk factors associated with it.
Factoring in the existing safe and convenient energy solutions, Bangladeshi companies Beximco, Omera could expand their reach in Bangladesh and present export options – not unlike the recent export contract with India. As their capacity is hugely under-utilized, more such exports can help them become commercially more viable in the long run, only if they access risk factors well.
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