How to Start a Small Construction or General Contracting Business

Interested in getting into the construction business? Now might be the time, with market forecasts  predicting a steady rise in the value of the construction industry over the next five years – 12.5 percent annually for residential construction and 13 percent for private non-residential construction.

If you’re interested in starting a construction, home improvement, or contracting business, here are some business and regulatory basics you need to be aware of.

10 Steps to Starting (any) Business

Start by familiarizing yourself with the basic steps involved in planning and forming any kind of business, including planning your business strategy, incorporating and registering with the right government agencies. Read these essential 10 Steps to Starting a Business from SBA.gov.

Get Licensed, Bonded, and Insured

Protect yourself, your business and your clients by ensuring you have the right licenses and permits, business insurance, and surety bonds. Here are three reasons why and information on how to obtain them:

1)       Business Licenses and Permits – In addition to a general business license, most construction or contracting businesses need specific licenses to operate legally. For example, a tradesman license is required for electrical, plumbing,  gas fitting, and other construction  trades.

Use this handy SBA.gov search tool – “Permit Me” – to identify the exact license and permits you'll need.  Just enter your zip code and business type. Local government websites also list this information and can guide you through what you’ll need.

2)       Surety Bonds – A surety bond is not something many business owners think about, but in almost all cases, construction businesses need construction bonds in order to operate legally.  You arrange for a surety bond from a third party who promises to pay your client if you do not fulfill your work obligations under a contract. Bond regulations vary by state, so research your state’s requirements or speak to a reputable surety bond agent. If you are unable to secure a bond through a commercial channel, SBA offers its own Surety Bond Guarantee program that can help.

3)       Insurance – Depending on the nature of your work and whether you employ workers directly, you will need several types of business insurance. Consider getting general liability insurance as well as vehicle and property insurance. This will protect you against claims for personal injury and property damage, and cover the costs of legal proceedings. Individual states also require businesses to carry specific insurance, such as workers' compensation insurance, unemployment and state disability insurance. Read this article for more information on business insurance: Business Liability Insurance – Tips for Protecting your Assets with the Right Coverage.

Familiarize Yourself with Construction Industry Regulations

From energy efficiency standards to workplace safety regulations, the construction industry is heavily regulated. Read SBA.gov's Construction Industry Guide, which compiles everything you need to know in one place.

Develop an Occupational Health and Safety Plan

The Occupational Safety and Health Act (OSHA) requires that construction workers are provided a safe workplace free from recognized hazards. Fortunately, the OSHA.gov website offers a variety of tools and services that can help you comply and develop a safe workplace. These include on-site consultations, training, and more. Read more in SBA’s Workplace Safety and Health guide. Check out these quick reference resources, too:

• Finding and Hiring Labor

The construction industry generally secures labor from four sources – subcontractors, hired employees, labor brokers, or independent contractors. Of course, the law differs in how you work with each of these. For example, when hiring employees, you’ll take on additional obligations such as withholding taxes, paying wages, benefits, complying with employment law, and so on. To get you started read, 10 Steps to Hiring your First Employee on SBA.gov.

While there are no specific laws governing how you work with subcontractors, you may wish to draw up a contractual agreement and ensure that they, too, are licensed, bonded, and insured.

If you engage a broker to find labor, you will pay the broker directly. If you hire independent contractors (self-employed individuals), you will pay them directly but, unlike employees, you are not responsible for paying benefits or withholding taxes. There are strict tax reporting requirements for working with independent contractors. 

My Business Plan

The Difference Between Sales and Business Development

Almost daily, I run into the misconception that the function of sales and business development are interchangeable, from co-workers to industry peers. This stems primarily, I believe, from the shift in titles of salespeople to business development -- which has been done in an effort to avoid the negative connotation that surrounds it.

In reality, the two are very different. Hence, this tweet.

But 140 characters just isn't enough to explain of the subtleties, so here we are.

When you think about the function of business development, it should be thought of as a marketing function. Yes, there are some soft sales skills (qualification, negotiation, etc.) that are necessary to become a good business development professional, but at the end of the day, it's a marketing function.

If you were to think about it on a sliding scale between a pure function of sales or marketing, it would wind up somewhere around here.

The reason behind this, is that typical goals of business development include brand placement, market expansion, new user acquisition, and awareness -- all of which are shared goals of marketing. The slight slide towards sales is simply because of the tactics business development employs to achieve those goals.

Which is where we get into the meat of it.

Regardless of the company, business development tends to hold the same structure, which I sketched up quickly below.

Simply stated, the function of sales is to sell directly to the end customer. The function of business development is to work through partners to sell to the end customer, in a scalable way.

That last part is key.

Scalability is the differentiator. It allows a company to use pre-existing sales teams or communities that a partner has developed to reach new audiences. Sales is very much an equation of capacity, which is why sales teams tend to grow so large. Business development teams, on the other hand, are typically very small, maintaining their small size by working through existing partner infrastructures. The art of business development comes in identifying partners that fit that description, while finding a way to provide value to the partner's end customer and business.

You can see this relationship in a few of the examples I laid out in a previous post onthe role of business development at a startup.

Now, all of this isn't meant to de-value the function of sales. Truth be told, I really respect good salespeople. It's an extremely difficult career, one with constant denial and pressure to succeed. Sales is hard, and should be respected when it's done at a high level.

But the two are very different, despite their apparent overlap.

Online Business Ideas

With the widespread use of Internet, the online businesses have become a wonderful source of income for many. Internet is not only the huge reservoir of information these days; it is the pool of enormous business opportunities at the same time. However, in order to do business successfully, one needs to learn the tips & tricks of online business. Online business ideas would guide you to choose and run an online business successfully. 

 Before You Start

Before one can start an online business, it is always better to learn a bit about the world of Internet and the online business. No need to mention here that one needs to be a computer literate and have an idea of the online business procedures.

You can start your online business without investing a lot. You just need a computer, and an Internet connection and that's all. You can do your work from the comfort of your home. Else, you may also have your small office, where you can even employ some people to work for you.

Like any other business, one of the most important factors of online business is the procurement of projects or works. You need to have proper plan for marketing or you should have your own dependable network, which would ensure inflows of work orders consistently.

Punctuality is another important factor for the success of online business. You need to deliver your works right on time. Very little delay in delivery may lead to cancellation of orders.

Finally, one consistently needs to maintain the quality of works.

Home Based Online Business Ideas

There can be various ideas for online business. However, one needs to pick one according to his/her skill sets and strengths. Some of the online business ideas are listed below.

• Affiliate Marketing

  It is one of the most popular online business ideas. If you have a knack in marketing, this online business could be suitable for you. In affiliate marketing, you need to promote the products and services of your clients on their behalf. You will get commission when a sale is made.

• Online Data Entry

  Online data entry is another way you can make money through Internet. Many companies offload their data entry jobs to other companies or freelancers. You can procure those works and do data entry jobs from your home or office. Besides data entry, you may also need to fill up forms or make documents from a scanned page etc.

• Auction Selling

  Auction selling could be another option for you. You can sell and resell products through the online marketplaces like Amazon Auctions, Ebay, and Craigslist etc. You can buy wholesale goods as well as sell used goods. You also have the option to use a drop-shipping service.

• E-Commerce

  With the extensive use of Internet these days, the scope of e-commerce has reached at a new high. Through your website, you can sell various products and technology-based services. You can also receive payments from your clients online.

• Internet Research

  Internet research is another lucrative online business idea, which involves extensive research works. A number of companies, law firms as well as small business houses offload their research jobs to other companies. You can do Internet research on behalf of them.

• Freelance Services

  Freelance services are amongst the most popular online business ideas. You can provide various services like copywriting, illustrations, multimedia, programming etc.

• Virtual Assistant

  Virtual assistant is another online business idea for you, where you work as virtual assistant to provide online administrative and business support to other small companies as well as business owners.

Business Model For Clean Drinking Water Using Solar RO In Indian

Executive Summary

H20 Industries, Inc. (H20 Industries) provides the service of ion exchange portable tanks. This is the process of purifying water for industrial purposes. H20 Industries will take advantage of an unsatisfied market need for segregated resin regeneration on a portable basis. The company will primarily focus its marketing strategies on offering segregated regeneration services to the untapped market of customers who require high-quality regeneration for their deionized (DI) water treatment facilities. The facility that H20 Industries will utilize is located in Newark, California and is already in limited production. Full production will begin at the end of September, with sales growing gradually to near capacity by the end of the first year, with very healthy gross sales in the first year, and increasing in the second and third years.

1.1 Objectives

The primary objectives are:

1. To segment the market for portable regeneration service by stressing H20 Industries's capability at providing segregated regeneration. The goal is to reach monthly sales of 1,710 cu ft of segregated resin by the end of the first year.
2. To build up a dealership network of 15 knowledgeable and efficient water service companies who will represent H20 Industries in areas outside direct sales from the factory.
3. To set up a bulk regeneration facility with a capacity of 40 cu ft daily, and sell its full capacity in the large general portable exchange service market through its own sales force, and through a dealership network.

1.2 Mission

H20 Industries's mission is to segment the market for pure water by providing niche products to specialized industry sectors who are otherwise not properly serviced by large pure water suppliers. Segregating a customer's H20 Industries resin and regenerating it on a portable tank basis to hospital dialysis units is an excellent example of such a niche product that stresses quality and service to users who are prepared to pay a premium price.

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1.3 Keys to Success

H20 Industries's primary keys to success are:

1. Good quality control in the factory. Customers for high purity water business have a very low tolerance threshold for flaws.
2. Fast response. In the case of most of H20 Industries's customers, the cost of the water is not a major element in their over-all costs, but a very expensive shut-down could result due to poor or slow servicing.
3. High-profile allegiances. Key to over-all company success is connected closely with success in achieving the goal of developing a dealership network of service-oriented water companies.

    Being an entrepreneur can be fascinating and also overwhelming at times and before you start

Let’s get started exploring some more cool business ideas:

1. Aquarium Maintenance:

People buy aquariums out of love for fishes or just as showpieces in their homes. Whatever the case maybe, aquariums need maintenance and not everyone who owns them, like to do that. You can offer your services for aquarium maintenance, if you too are a fish lover and know how to deal with fishes. Initially you will need to network and market yourself hard since the aquarium suppliers themselves offer the maintenance services, but you can start with a lower quote. This is one cool business idea that requires just your love and knowledge about fishes and very little money, since the products you use to clean the aquariums are not very expensive. If it goes well you very well, you can start your own fish-aquarium supply and setup business.

2. Franchising:

If you have some amount of cash to invest in a business you can look out for some franchise options by already established businesses. At times certain businesses require very high investments and hence their franchise may not be feasible, but there are certain products like ayurvedic products, ice cream parlours etc that require less money to take up their franchisee. Also there are options where in you can rent out certain products supplied by the company, and all you need is a place to store them. They will market and promote and have your place listed in their centres. These could be clothes, toys etc.

3. Pet sitting:

Pet sitting may sound a bit strange, but it is a good small business idea if you think of it. If you love pets, then you can start this home based business since the investment is next to nothing. Generally when pet owners travel for vacations or other reasons they look out for people who can ‘baby-sit’ their beloved pets. You could be that person and charge a small fee for it. At times you do not even need to spend on their food as owners will provide their food packets to you. The only thing you need is a decently spacious house or a place that does cram up their pets and in case you live in a housing society, the society should give permission for the same. Also be sure to not mess with their pets.

4. Renting unique clothes/selling custom made costumes:

Clothes rental is a business in existence since ages and there are already big names in it. However with changing trends and new events and themes catching up, there is a dearth of relevant clothes. For instance an even called Comicon, never used to happen in India, but has been popular abroad for years. It is taking place in India for a couple of years now, and people require the weirdest of costumes and makeup for the event. Superhero costumes, body paints, temporary tattoos, custom made costumes and so on. Also with parents becoming more expressive about their kid’s birthdays and throwing theme parties, supplying different theme based costumes, or providing customized dresses is surely a cool business idea for the entrepreneur in you.

5. Real estate Consultant:

Real estate is always a darling of many but not all can invest in it and reap the rewards of this industry. However, you can still be associated with it by being a consultant. There are prerequisites though. You need to obtain a license for being a real estate consultant and you have to be well versed in the surrounding areas. You will also have to network with other real estate consultants. Certain properties maybe available with others and when your clients need something similar, you will have to work with those consultants who have them, and share the commission. The standard rate of 1 to 2 % is what you can make on the total amount of deal.

6. Teaching SEO:

In the previous post on small business ideas, we touched on the topics of  If you are someone who is interested in these but don’t have the time nor can find a niche you can target with your blog, worry not; just become an SEO consultant for others who need to start their own blog or need SEO advice. If you are well aware of how to start a blog, what is SEO, how to go about keyword targeting and build an audience, you can start to consult and teach people that. There is a huge population who wants to learn all this.

7. Ecommerce Portal:

If you want a home based business idea that can deal with supplying goods and services without having to rent out shop or showroom, ecommerce portal can be a good option. There various online stores and if you feel you cannot compete with them, then find a niche or something that these stores do not offer. Once you do that, building an ecommerce site is not that difficult. There are templates available that you can load on your website and you are good to go. Also for billing, initially you can provide cash on delivery option and then if the business picks up you can start online billing, by tying up with various billing portals.

8. Birthdays and Wedding Planning:

Another cool business idea is to organize and manage events like birthdays and weddings. Unique themes and ideas sell fast and if you can think out of the box and are able to find people who can customize your stuff the way you envision and have a logistic support, even management is a good option to start journey as an entrepreneur. You will need to have a good network of vendors and suppliers of various requirements from flowers to cake and all in between. Logistics and time management skills will take you far in this business. Again the investment is not that much. You can rent a small office and also a website where you can list your portfolio and communicate with the clients.

Starting a home based business can be exciting as well as overwhelming as you encounter new challenges every day. However look at it as your opportunity to be an entrepreneur. The best small business idea is to start with something you love doing as the chances of you going farther in something you are passionate about are higher.

If you have some small business ideas that you would like to share, feel free to post them in the comments below.

How To Start Trading Trading As A Business

Trading is an active style of participating in the financial markets that seeks to outperform traditional buy-and-hold investing. Rather than seeking profits from long-term  in the markets, traders look for short-term price moves to profit in both rising and falling markets.

Approaching trading as a business is vital to success because trading is a business. A successful trading business requires a strategic plan that covers your actual business and your actual trading. Your business plan will include things like short and long-term goals, the amount of capital you have available for the business and how you will set up your office. You trading plan includes the details of trading: what you will trade and how you will trade it. Your plan should be so objective and concise that you could hand it over to another trader and they would be able to execute it exactly.

It’s important to understand that your trading plan is not simply a set of rules that you think will work or a list of set-ups that you are somehow fond of, of someone else’s plan. is one that you have researched, tested on historical data, tested in a live market and evaluate at regular intervals.

Successful trading involves more than reading a few articles or books; you should plan on devoting a substantial amount of time and effort before ever placing a trade in a live market. All this research and time may sound daunting, but it is realistic and integral to becoming a profitable, independent trader.

For a guide to trading fundamentals such as charting, leverage and risk, see  of our series. In this tutorial, we provide an introduction to help you get started trading.

How to Start a Software Company

A software company develops and distributes computer software that may be used to learn, instruct, assess, calculate, entertain or perform a multitude of other tasks. Starting a software company requires start-up funds, programming knowledge, marketing expertise and technical support skills. Software companies operate under a variety of business models, such as charging license fees, offering subscriptions or charging by transactions. When software products are offered for free, revenue may be gained from advertising sources or by charging for related services, such as training or technical support. Here are the steps for starting a software company.