Things Are Good (knock on wood)
Things Are Good (knock on wood)
We asked 100's of our construction businesses what it takes to create sustainability in the sometimes tumultuous construction industry and here are the top 3 ways they responded:
People
People
People
and the next 3 ?
cash flow
cash flow
cash flow
When we ask what the common denominator of these two pillars of a business would be, the answer that comes up most often is:
Relationships
Relationships
Relationships
Things are good now but our industry is an up and down roller coaster at its best, a feast/famine at its worst. I'm not here to jinx things, but also don't want to rest on our laurels either.
To keep things more consistent and sustainable, the general consensus of companies that have outlasted the test of time (and roller coasters) says...don't stop business development during the good times.
Just like many companies pay down equipment and lower the liability line during the good cash flow times, isn't it appropriate to increase our asset lines by getting in front of more ideal potential clients.
Right now, top G.C.'s, owners, builders, facility managers are opening up their vendor list for the first time in years, if not decades.
Investing some time and a little money to keep momentum through the 2018 finish can possibly secure another permanent customer (aka revenue stream) in case the cash flow is needed in 2019.
To get more control over the highs and lows of the industry, it's necessary to do more than just pay the bills and stay afloat during the down times. But waiting until the down time can be risky to keeping your top employees and teams together.
We know you're busy on the job, so we have created a network that can help you in all cycles of the construction industry.
During the boom, you'll continue to get exposure so you stay branded and people know you're still around, even if you're too busy to take on more work right now.
During the downturn, you can utilize even more technology tools and resources, up your bidding, and actively connect with the top players who remember your story during the boom.
For all cycles, you will have personalized assistance from our team of local consultants who can be the feet on the street looking for that key project or ideal client that you'll want to talk with at any time of the cycle.
Thank goodness we're in a boom...let's all knock on wood for sure.
But let's not stop knocking on doors either.
Let us know how we can help.
