Strategic Flexibility for your Construction Business in a Rapidly Changing Economy!
In a year that has proven to be anything but normal, creativity, innovation, flexibility and adaptability will prove to be essential in businesses surviving the changes that will affect profit and growth beyond the days of ‘social distancing’. Consumer budgets have been impacted beyond any of the economic downturns we have seen in our lifetime. Priorities have shifted.
How will businesses fare?
How do we maximize the opportunities available to us during this unique time in history?
Contractors have a unique opportunity to diversify while staying the course. During challenging times, business that adapt, diversify and seek out opportunities survive and often come out much stronger on the other side.
The study, “BUSINESS STRATEGIES AND PERFORMANCE DURING DIFFICULT ECONOMIC CONDITIONS” done by John Kitching Robert Blackburn David Smallbone, Small Business Research Centre, Kingston University, and Sarah Dixon, School of Management, Bath University in June 2009, highlights key points that still hold true.
- Small firms often possess the flexibility to adjust resource inputs, processes, prices and products quickly in response to environmental shocks.
- Small firms often optimize strategic flexibility, the ability to respond quickly to changing competitive conditions has a positive influence on performance after a crisis.
- Adapting to environmental shocks, including recession, is a capability business that leaders have to develop in order to survive.
- These environmental shocks present businesses with a dilemma: whether to cut costs to conserve resources, or to invest in new products and processes to exploit competitor weakness.
The question is, what are the opportunities for contractors to evolve during uncertain times and with tighter budgets?
The most overlooked opportunity for contractors to add to their bottom line is through specialty services such as mold remediation or mold inspections. Indoor Air Quality is such a concern that an entire industry has evolved from the public awareness and the need to investigate and remediate.
As a contractor, in most cases and in most states, you can address mold related issues under your scope of work. However, as the Restoration and Remediation industry has evolved and grown, so has the science behind proper remediation. Industry Standards have been established and, in several states, contractors must meet additional licensing requirements.
What steps can you take to effectively and properly diversify into the restoration and /or mold remediation industry?
First and foremost, educate yourself. A few hours of training will open doors of opportunity so that you ‘do not leave money behind’ by walking away from work you can perform with proper training. Stop to ‘sharpen the saw’ during the quieter hours of the current situation. With or without the current crisis, you will find the knowledge you invest in now will yield residual revenue for years to come.
Because indoor air quality is always a priority. Prompt response and remediation of mold related issues remains an ‘essential service’ as it affects the health of the individuals occupying the structure.
We invite you to join us for an introductory webinar as we discuss 7 Key Points to help determine if diversification into remediation is for your company!
In this Live Online class, our course instructor will discuss:
- What is mold remediation and why is it necessary?
- Who needs mold remediation?
- Are Mold remediation protocols effective against Coronavirus?
- How can I add mold remediation services to the contracting services I already offer?
- What are the requirements for training?
- Are there any experience / exam requirements?
- Where do I begin?
Our instructor will be answering all of your questions about mold remediation!