You can wait and let it happen to you.
Or, you can set your own path!
The last couple of years have been hard. The recession has worn us all down. But, the stock market has risen from the 6,000 level to flirting with the 12,000 level. You see some “Now Hiring” signs in windows around town, and retail sales are improving. Maybe the economy is coming back.
Your competition is trying to determine their strategy to prosper in the recovery. How are your plans coming?
What do you need to do to stay in the front of the recovery? Have you looked around? Is your store/ office/ branch in shape to attract the business you need? Will you be competitive in the new post recession marketplace? What can you do to look like you are ready to bring in new business?
It may only be cleaning up and a little paint, It could be that you need to verify your markets, update your facilities or, look for new locations. Your competition is also trying to determine their strategy for the recovery.
According to Turner Construction’s Construction Cost Index, construction costs leveled out in the 3rd quarter of 2010 at about 13% below 2008. The Bureau of Labor and Statistics shows that construction materials prices have been rising for about a year (since September 09). These costs have been offset by decreases in labor costs. Now that labor cost reductions have gone about as far as they can prices are starting to rise. Turners cost index for the 4th quarter of 2010 showed that construction costs have started to go up.
For those who need to update facilities, or build new ones, the time is right. Even small projects will be cheaper now, than in the near future. Planning now can put you in position to take advantage of the lower costs and available construction services. As difficult as the recession has been, it has created an opportunity for those that can respond and plan for the recovery.
If you have questions about thriving in the post recession market, let us know.