Greetings folks. It has been a while since I’ve sat down and put thoughts to keyboard in this blog. So to paraphrase that song from AC/DC, I’ve been too long and I’m glad to be back.
I’m especially glad to see ourselves on the other side of the great recession. Many of the reports I’m reading put growth in the construction industry in 2014 at around 5 percent, and are predicting closer to 10 percent growth this year. A more important indicator to me, however, is what I’m hearing from my clients. Many are reporting decent growth in 2014, have established a healthy backlog, and are feeling good about new business in 2015.
It doesn’t seem that long ago, though, that we were bouncing off of the rocky bottom of bad economic times. Thinking back, I recall what one of my friends, a CEO of a general contracting firm, told me about the recession. He said (again, paraphrasing here): “John, I never waste a good recession.”
What he meant by this was that during bad times it makes sense to prepare for better times to come. Because it’s a safe bet that they will come, and those who are poised and prepared to capitalize on new opportunities are the ones most likely to do just that. And during good times, firms that exercise prudent cash management and invest in their processes, tools, and people are the firms which will best weather inclement economic times. Because during the good times, it is also a safe bet that tough times will visit again.
Most of us have been around the block enough times to know how the pendulum swings. Being in the construction software business has given me what I think is a unique perspective on how folks react to ebb and flow of the economy. I see some contractors who make consistent investments in new technology, looking for tools to gain competitive advantages during tough times and to maximize profit during good times. I see these forward-looking firms staying one step ahead of that pendulum and often staying one step ahead of the competition.
It’s good to be back, looking forward. Happy 2015!