Finding your way back after business failure

Finding your way back after business failure

3 Mistakes to Avoid When Selecting Building Materials

Brittany Washington

Homeowners who are planning to undertake a home improvement project for the first time may commit several costly mistakes during the material selection process. This article discusses some of those common material selection mistakes that you should avoid making during your renovation project.

Mistake 1: Focusing on the Upfront Cost

Many inexperienced homeowners may select building materials on the basis of how affordable they find the purchase cost of those materials. However, such homeowners may end up spending more on those initially affordable materials. This is because the ongoing costs of maintaining those materials may add up to a greater sum than what the homeowner would have spent if he or she had bought a product with a lower ongoing cost after incurring a higher purchase cost. It is therefore better for you to consider the ongoing costs as well when evaluating the true cost of building materials.

Mistake 2: Not Researching Lead Times

Some suppliers of building materials may not have sufficient stocks of some products. Clients may therefore have to wait while the material is ordered and shipped from the manufacturer. This process can put work on hold for several weeks as you wait for the selected materials to be delivered to your site. Such a delay would have been avoided if you had compared the lead times of alternative products before making a final selection. Avoid making this mistake. Ask the supplier to tell you how long it will take before you can receive a consignment of the different products once you have made your selection. Pick the products with the shortest lead times.

Mistake 3: Paying Insufficient Attention to Product Safety

You should also avoid making the mistake of not paying sufficient attention to the health and safety effects of the various materials that you select for your project. For example, some oil-based paints may emit higher amounts of volatile organic compounds when compared to water-based paints. The VOCs may end up triggering allergic reactions in some of your family members once you use those materials in your home. Avoid this problem by reading the available literature regarding any potential health and safety risks associated with the different building materials that you intend to use. Buy products that have been certified as being sustainable and safe in case such options are available in your area.

The best way to avoid the mistakes above (as well as any others that haven't been covered in this discussion) is to involve an experienced professional during the building material selection process. That expert will explain the benefits and drawbacks of each material that you express interest in. You will then make an informed decision.  


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Finding your way back after business failure

Many businesses fail and it can be scary for business owners to deal with failure. However many successful business owners have failed businesses before they find business success in a subsequent business. This blog has some stories of serial business investors who have managed to find business success after unsuccessful businesses. Sometimes failure can one of the best ways to learn about how to operate a business and what to do, as well as what not to do, can help to work out how to successfully run a business in the future. This blog has some tips for people wanting to learn from business failure to build robust businesses.