As the ancient proverb says “it is darkest before the dawn.” Right now, the commercial glazing market sure looks bleak. However, don’t miss the chance to evaluate new ideas and markets. Who knows, you might just head out to a new profitable tomorrow morning …
At FabTech, we are grinding away like everyone else in the tough marketplace. We are seeing crazy low bids, Chapter 11 filings, insane banking decisions and delayed projects. Like all of you, we have cut back some resources and spending. We are doing all the proper blocking and tackling to handle a downturn. But, don’t make the usual classic recession mistakes.
In the last few weeks, we made a decision to put a tremendous amount of energy into evaluating game-changing initiatives. There are several FANTASTIC long-term opportunities that will change the future of our business forever.
It is scary. It is unnerving. It is stressful. However, it is very energizing to channel your efforts into areas that will position your company for long-term differentiation.
Think about it – there is no better time to look at what holds you back. No better time to see the holes in the market that need some entrepreneur to take the plunge. You have a workforce that is very motivated to try anything to keep the work flowing. They are more open to new ideas and new ways to do things. These ideas don’t have to be expensive – just innovative.
Of course, I will not share exact strategies that we are evaluating. You need to get your own game-changing “aha moment.” You will know when you find it because you have been thinking about it in the back of your mind all along. That racing heart rate is excitement. It is why we all got in the game in the first place. Embrace it and try it. Get in the new game!
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2 comments:
Hi Pete,
well once again you have said what we all should be thinking.
I don't have the numbers (did at one time but I am sure can be easily found if you are interested) however, more companies close their doors during good times , rather than bad.
The reasons are simple and obvious....not watching costs - labor , material, insurance etc - but a large part, in my opinion, is the lack of mid and long term strategic planning. The old "if it ain't broke...." works when everyone is busy, but really bites in a slowdown, kills in the situation the country is in right now.
When business slows, we are caught with no back-up not to mention forward planning. Keeping costs under control (during good times and bad) is a great start but not the end. As you stated so well "Fantastic long term opportunities" tend not to get the deserved attention when times are good, then firefighting puts it on the backburner when times are bad.
Enjoy the stressfull, unnerving process for all it is worth. It will be a great experience to look back upon.
For a good part of my carreer I would "assist" glass fabrication plants get back on their feet, turnaround initiatives etc, stressfull to have peoples lively hood depending on you, but the emotional (personal and professional) payback is just great. Definately justifies those sleepless nights.
looking forward to reading more about the challenges taken on.
good luck
Jim Fairley
Jim,
Thanks for the encouragement. It is exciting, but nerve racking.
Take care,
Pete
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