There was a time that I didn’t have the need to assess my business. I was busy and working seven days a week making sure that everything was getting done as it needed to be. What was there to assess?
Yet now is a different story, a different time and in the last year I have had to take a long hard and objective look at business. There’s no pretending that all is well or that it will get better next month or next season. The reality is that it may take some time before things turn around in the construction industry. Reality isn’t always a fun mirror to look into but it is a necessary part of being in business. You have to see what is there and adapt to it. This tends to be easier for smaller businesses because there isn’t the hierarchy that larger companies are faced with.
In the last year I have been doing just this; Evaluating what is happening with business and seeing what I should do. I’ve been playing out various scenarios to see the results of, “What if I did X, would it help business or have little effect?” I try to see what others are doing and ask it it seems to have a positive effect on their bottom line. I have been trying, seeing, but by no means sitting idly by waiting for the great turnaround to happen.
Since things have slid downhill I have approached social media as a new potential avenue for my construction knowledge and skills. Participating in social media takes a great deal of time and requires using many platforms and always accessing the results. I am creating a presence online for what I know about construction in the U.S. and the Bahamas as well as for what I know about the use of social media. It’s an exciting prospect and getting to the point that people are hiring me to do projects for them via social media and are asking questions and my opinions on various topics, too. It seems to be on the right track. Using social media as part of your marketing plan has great potential and I would encourage you to make the efforts or to at least explore it further.
Now, I am not advocating that everyone needs to follow my path but I do see social media as a way to increase my presence to a larger audience. As time moves on and while business is slow it is a way for my small business to continue with the possibility that as the economy and construction activity increases, I will be in a better all-around position.
I have had to step back and take an honest look at what is happening for myself and my business. Every business owner during these times probably should too and ask some hard questions:
- What can I do to enhance my business?
- Are there things that I could be pursuing during these slower times that will have a long term effect and benefit for my business?
- Is my business still viable or do I need to consider alternatives?
- Are there products or services that I could be investing in that will help my business now and in the future?
To be totally honest, I do not know what the answer is or how long it will take for the economy to turn around for the construction industry. I also cannot look at other markets that may be increasing and doing better. I have to look at my business and my market, assess what I see and make decisions. Are you doing the same?