GVCA President’s Message November

WHAT ARE YOU HEARING OUT THERE? 

Depending on who you ask, the answer about how things are in the construction industry often oscillate somewhere between a guarded good and bleak.  Jobs continue to get pushed out or cancelled; the volume of new opportunities is seeing a reductions and prices continue to get squeezed. When the construction industry is booming, we see our members more socially or for educational opportunities.  When it’s slow they reach out more looking for new revenue, relationships, and partnerships.  We are certainly in the later of two stages.  Everyday someone is coming into the office or calling in for a pulse check, to hear what’s coming down the pipe and what we have heard. 

So what can we do as an industry:

• Talk to elected officials about freeing up capital projects or expediting permits.  Now is not the time for delays and is the time to build infrastructure projects with a sense of urgency.
• Upskill and train staff for the inevitable power surge in the building sector.  Things will start to move.  Be ready. Health and safety training, Health and Safety Excellence Program and other tools are there for you.
• Market and brand your company.  This is the time to make sure everyone knows who you are, what you do and how they can contact you.
• Network and partner.  Slower times afford the time to create alliances, partnerships and expand your network.  The future of your business may depend on it.
• Turn an eye towards the community to assist those doing incredible things that build community.  These credits are worth their weight in gold and now is the time to invest in the greater good.  Time, treasure, and talent are all valuable assets.
• Diversify income sources. Design services, winter requirements and freeing up surplus materials could get you over the hump.
• Clean up any neglected financials that have been kicked down the road.  As the industry slows, so does the affiliated services.  Look for efficiencies, wasted expenditures and unnecessary costs that are draining the business of capital.
• Invest some time in technology and artificial intelligence that will become more prominent to our industry soon.

History will repeat itself and the industry will rebound, hopefully sooner than later.  Please share what you are hearing and let us know how we can help. Our industry and our community depend on us to create our communities.

Jeff MacIntyre, President