The Upside of Downturns
How can we make the most of the boom-bust cycle of the building industry?
Published January 31, 2023
The Nature of the Business
If this isn’t your first rodeo, and for most of us it’s not, then the boom-bust cycle of the building industry is familiar. It looks something like the cycle depicted below. It’s been the nature of the building industry for a long time, and while we’d rather it wasn’t this way, it is the reality for now.
Finding Hidden Opportunities
As with most things in life, there is an opportunity wrapped up inside this situation. No matter the industry, the builder, the trade, when things are going great, we’re typically playing catch up. We’re hiring as fast as we can to catch up with the demands on our people. Our systems are straining at the seams to handle the work. What was working before may or may not be working now.
Facing Your Challenges
While it’s counter-intuitive, the opportunity to tear things apart and rebuild is when we’re on the downslope before things turn back upward. This is when we might have time on our hands to rework things and think about what we need to do when the good times return. It means we have to put in the hard work in the face of the challenges of a downturn. We still have to batten the hatches, but while we’re doing that, we can try to look ahead to what we’ll need to succeed in the future.
Following Our Own Advice
We’re trying to do that at EnergyLogic. We’re revamping systems, upping our training game, and doing everything we can think of to be ready for the next up cycle. When that time comes, we want to be ready. We want to be ready to onboard your projects more smoothly. We want to be your “go-to” resource for all the changes that codes and programs throw at us. We want to do our part to advance our mutual causes. We want to engage you now to prepare for future success.
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