How Small Construction Businesses Are Overcoming The Impacted Economy
With the recent economic instability across most industries, The Contractors Compass, the official educational journal of the American Subcontractors Association, asked small construction businesses across America for their best survival tactics. In the article The Keys to Survival for Small Companies…From Those Who Are Doing It, customer service, cash flow, company culture, and embracing technology were at the top of the list of discussion. Deb Hilmerson of Hilmerson Safety® was one of the leaders who weighed in.
“In my humble opinion, the key to staying alive is being vigilant to industry needs and challenges,” she said. “Be in a position to be agile enough to be able to respond quickly to meet your customer needs.”
“Cash is Cow,” she said. “Manage it precisely. Minimize overhead and be willing to do four people’s job as one if you are a sole owner. Don’t jeopardize quality or integrity, and do whatever it takes to exceed customer expectations. Don’t be afraid to ask for help from experts or mentors.”