Posts Tagged ‘expansion’

In This Economy, Should You Specialize or Expand Your Service?

Tuesday, April 14th, 2009

Times are tough and many contractors are pulling tooth and nail to find steady work. Yet before anyone resorts to self abuse, ask the question of how to best sell your abilities. Should you expand or specialize your offerings? As mainly a woodworker, is a move into concrete or even masonry worth it?

Such a question can be easy or difficult. Take remodeling contractors; for you the answer is probably simple — expansion. The reason being that remodeling inherently involves many different facets of construction from carpentry to electrical to plumbing and more. Being able to offer experience, knowledge, and advice in many of these areas is a big plus.

However, if you offer a unique service, one which sets you apart from the field, then specialization may be your best route. Say you’re a custom tile setter or mason with your own formula for creativity, something that is a valuable selling point. It makes sense that you would want to hone that skill and accentuate it during interviews.

At the same time homeowners and their remodels can be very fluid things, changing as the days go by. While it is generally accepted that a well-planned remodel is the smoothest remodel, that is not always how it goes. Therefore an extensive list of skills and services, including a heightened ability to think on your feet, may be the best way to go. (more…)

Don’t Sit There, Survive and Prosper

Tuesday, December 9th, 2008

As a small business owner, you don’t even have to turn on the dismal financial news to know that the economy is lousy. You are already feeling the pinch, and then when you hear of your tax dollars being used to bail-out the big banks and corporations that helped to create this mess, you begin to get bitter. After all, I haven’t heard much mention of any help for the little guy.

Well, you have two options right now. You can either sit there and wait out the storm and possibly go under as many of your competitors are, or take advantage of a slower time to revamp your business.

I spoke with a few construction companies recently. Operating in California, they are struggling with the new laws that require all plans to be inspected by an architect. One family company decided to send one of the younger brothers to college to become an architect. Another company is using this time to branch out and to explore new avenues. They invested in heavy equipment and training for some crew members so that they can now offer excavation services. One older construction owner made the decision to take this opportunity to scale back his operation and pursue a lifelong dream to build custom furniture and cabinetry. He enrolled in the appropriate classes to learn the trade, and is now happily remodeling his shop to accommodate his new direction. (more…)

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