How Do You Beat Your Competitors In The Next Bull Market?
The COVID-19 pandemic has obviously had a huge impact on nearly every business out there today. Big or small and regardless of industry you’ve had to make changes to the way you do business.
So you have two choices; hide under a rock and wait it out or prepare yourself to beat your competitors when the bull market returns. If you’re smart, you’re working right now on plans to come bursting out of the gate with new products, new marketing, and new clients once the pandemic ends and life returns to normal. Shouldn’t you also be considering how to better position your capital assets today so you can grow again tomorrow?
It usually takes on the order of 12 to 24 months to complete an in-depth site selection process, design a new facility and construct it. History teaches us that the bull market will return in 12 to 24 months. That means that this is the best time for you to consider future growth and develop a facility plan to accommodate your future plans. That also means if you wait until after the economy turns around to begin the growth process, you could end up two years behind your competitors.
The SMART move is to assess your facility needs NOW. Check your operation, assess your costs, anticipate your upcoming needs, and plan for the future. That’s how you beat your competitors to be punch!
By designing your facility solutions TODAY, you’re ready to start construction immediately after the economy comes back. It allows you to take a very low risk approach to getting the fastest possible rebound for your company tomorrow.
If you aren’t prepared to expand when the time comes, your competitors WILL BE. The companies with the experience to develop an expansion strategy during hard times are the ones who will be best positioned to grow and excel after the pandemic is over. Will that be you – or the competition?