Our country is facing economic challenges that have a ripple effect in all industries. How has your restoration business been affected? History shows that we can always expect cycles of growth and recession in the economy. So, now is the time to ensure that your business is resilient to overcome the fluctuations that will inevitable come in the future.
Steps for Organizational Resilience
What are you doing to build organizational resilience in your restoration company? Here is a quick summary of a few important steps you need to take:
- Pay Attention to Emerging Threats: Watch for external factors that could have a domino effect on the restoration industry and your business. Staying connected to the current events gives you a clear vision so you can find opportunities as things are changing.
- Provide Emergency Related Services: When the economy is tight, people are less inclined to spend money on non-emergency services. If you want to stay viable, then make sure that you are staying ahead of the curve by offering emergency support. Even when finances are tight, homeowners and business owners always find the money to clean up after a flood or emergency.
- Build a Referral Network: Tap into these emergency leads by building a network of people who are good referring parties, such as insurance agents and plumbers. Traditional marketing isn’t necessarily effective in the restoration industry because people don’t pay attention to the ads until they reach an emergency point where they need these services immediately. Having a referral network means that you can continue to bring in the right leads when local emergencies are happening.
- Strategize for the Future: Even when the business is thriving and things are comfortable, you need to make sure that you are keeping your eye on the ball at all times. You can’t expect to go with the flow and navigate changes in the economy. Instead, build in strategies and plans so you can quickly adapt when downturns happen.
- Creating a Team Vision: If you want to succeed, then you need to be sure that the whole team shares the same vision for the future. Engage your managers and employees in shaping company culture.
- Lead with Strength: Remember that your team responds based on organizational leadership at the top. You need to be proactive in sharing clear direction to build a solid, unified team. Building tools and training team members mean that everyone will continue working efficiently and effectively through the ups and downs.
Are you prepared for future economic challenges that could impact your restoration business? Now is the time to learn more about organization resilience so you can weather the storm. Even when the economy is changing, restoration businesses continue to have many growth opportunities available. We have a detailed guide to show you how to tap into the industry to optimize resilience through economic challenges. Click here to access our guide: 6 Ways to Gain Organizational Resilience for Your Restoration Company.