This article is from a 60-year-old guy who started going to job sites with his father at 4 years old and has been in the dirt business ever since. My experience spans from a small one-person business operation to the management team of a 6-billion-dollar project. So, I Have some excellent ideas on how to make more money, and I am going to share them with you in this article.
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Goal Setting.
Set your goal(s). Be careful when setting goals. Goals without a plan are merely dreams. When setting a goal, you may say I want to make $500,000 my first year and add $500,000 yearly. That's a good start. However, the devil is in the details. Some people find the acronym SMART as a template for setting goals helpful. Click here to read an article on how to use the SMART technique, courtesy of Indeed. You need to know the steps that must be taken along with a schedule on how to complete the required steps to complete your goal.
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Scheduling
is the most essential tool for managing a company in any industry. Scheduling covers the company's overall operations as well as individual jobs. For each job, and more than one for larger projects, I always have a 30-day schedule with all of the details and milestones of the project. It includes meetings, safety concerns, quality control, people, equipment, maintenance, ordering materials, and all of the other pieces of the job that must be completed to ensure the job's success. I have the schedule in place before I even start the job. By scheduling the job before it starts, I can anticipate issues before they happen. Usually, I can keep potential issues from becoming problems because I have anticipated the issue and planned for it. Click here for a scheduling template and a scheduling example.
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Time management
is the hardest thing to do for most people. I am guilty of it. Most of the time it is other interests that take me away from being timely with my business. Interests may include hobbies, helping others, or other side businesses. Tip: Know your primary business and keep it your first priority. It's okay to say no or not now to yourself or others. This leads me to my next point. Focus.
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Focus
Focusing on what is most important can be hard to do. As I mentioned earlier, things like hobbies, helping others, or other side businesses can be distracting when your business requires you to work on some of the less interesting but necessary parts of the business. Things like taking care of paperwork, following up with vendors, paying bills, etc. It can be different for everyone. The important thing is to learn how to stay focused on the goals of your business and not be distracted by short-term pleasures. Keeping focused is a skill you can develop.
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Self-discipline
is probably the best attribute one can practice and pursue to master. Even at 60, I am still working on self-discipline. Staying focused and managing your time requires "Self-Discipline". Even staying positive some days requires self-discipline. Most of the time, we know what we need to do to succeed; where we fail is executing what we need to do and actually doing it. You likely know where you need to improve, make it a goal to get better at the things you need to be better at. Ask yourself these two questions: "Who do I want to be"? And "how do I want people to see me"? These questions are usually pretty good starters in developing a plan for being better.
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Take care of your assets
which start by taking care of you. Eat healthy, get the right amount of rest, and get into or stay in shape. When you are in good shape, you can take better care of your business, your employees, and your equipment. Think of it as preventive maintenance.
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Diversify your equipment use:
most small to medium excavation companies have a skid steer and a mini excavator. Both can have many different attachments. One attachment can make a whole new business. I know a company that added a rock breaker to their skid steer and mini excavator, and now, they do excavation and grading and are also known for their rock breaking and concrete breaking services. I know many companies that purchased rock/dirt screens, and they screen material on site either for themselves or create custom screening businesses to screen whatever material is needed for a customer. Another contractor in Utah screens his material to make six different sizes of material, from fine backfill material to topsoil to rip rap rock.
Bear Iron Works offers a variety of screening products and attachments that can enhance your current operations.
In conclusion, it’s not that complicated. It can be hard and grueling at times, but being successful in the excavating and grading business is not complicated. Incorporate the principles I have shared with you into your daily business practices. Be open to learning and researching new ideas so that your business stays relevant. Look to those who have achieved success for inspiration and guidance. I highly recommend reading "The Kiewit Story." You may also want to study other companies and ask their owners what they do to be successful. Your industry is one of the most diversified, with endless opportunities. I wish you the best in all of your endeavors.
Note about the author: Mike has over 35 years of construction experience serving as a construction company owner, project superintendent, project manager, and senior manager. He brings knowledge based on field experience, including equipment operator, mechanic, surveying, blueprint reading, supervision, and welding, and has worked as a Journeyman Millwright.
He brings in-depth construction experience with surface and underground mining & mine reclamation, roadways, bridges, oil and gas, dams and waterways, river restoration, wetlands, fish and wildlife habitat and structures, and demolition in remote and mountainous terrain. He also brings experience with stormwater, sewer, water-main installation, asphalt, and concrete structures.
Clients include the Colorado Department of Highways, Federal Highway Administration, FAA, Colorado Division of Parks & Wildlife, U.S. Fish and Wildlife Service, U.S. Bureau of Land Management, U.S. Forest Service, Colorado Division of Minerals & Geology, and many Fortune 500 companies.
Mike focuses on the details of a project, including safety, planning, scheduling, productivity, cost management, and client relations. He is committed to incorporating safety as a key element of all projects. He has received 12 national and local excellence awards for zero lost time due to accidents.