This year didn't exactly go the way most of us envisioned it would.
The economy didn't exactly come roaring back the way many "coffee pot prognosticators" predicted.
The construction market has been flat, at best.
Housing has seen measurable growth. Fields that once bore crops are being converted into subdivisions, seemingly overnight.
The medical field continues to be a reliable construction market. Hospitals and medical office buildings provide opportunity for contractors in way of additions and renovations.
Construction companies seem hesitant to make large purchases or commitments this year. Even with the enticement of Bonus Depreciation & the American Taxpayer Relief Act, equipment dealers are hard pressed to find clients willing to take on additional debt or notes this year.
Several factors could be contributing to the lack of consumer confidence.
Perhaps the Affordable Care Act has many small business owners unsure of what their employees healthcare premiums will be. Maybe they haven't quite figured out what they will have to do to be in compliance with the Federal government's sweeping new healthcare initiative. With so much misinformation and partisan mud slinging, it's a wonder anyone can make heads or tails of it.
Maybe the flatness of the oil field & natural gas markets have contractors in a holding pattern.
Oil prices have been flat due to domestic production.
The natural gas market is in an awkward stage right now. The price remains low because of the abundance of deposits discovered throughout the United States. The only way for the price to rise, is to 'create demand' for it by building facilities to liquefy it for export. This requires building multi-billion dollar plants. Quite a gamble, if you think about it.
With President Obama being reelected last year, not much excitement was injected into the economy. After four years of slow (or no) economic growth, several industries are in paralysis. Mid-term elections are right around the corner, and any shift in power could turn Mr. Obama into a lame-duck. That is very bad for any economy, let alone one which has been in the doldrums as ours has been.
Whatever the reason for all of this uncertainty, we can't just fold up our tents and go home. We have to make a living and sometimes, that means we have to get innovative.
Everyday is a new adventure in business. Everyday we should assess what went well & what could have gone better. Everyday we will have to find the best source to ringing the cash register.
If 2014 is to be any better than 2013, we will have to become a resource to our clients rather than just another vendor trying to get into their pockets. We have to learn to solve our clients' issues rather than only showing up when we smell a sure sale. We need to partner with our clients rather than being parasites. We need to bring value to our clients rather than being vultures.
If our customer is uncomfortable purchasing a piece of equipment, perhaps it would benefit him to rent or lease instead.
If a customer doesn't have enough in the budget to rent or lease a machine, maybe we could talk to him about our service department repairing & servicing the equipment he already owns.
If the customer doesn't have the cash flow to pay for repair work, maybe we could sell him parts and supplies to make his own repairs.
If we focus on solving our customers' problems rather than selling him something, that client is more than likely to stay loyal to us. Then, when this economy straightens out (as it always does), he will reward our service by ringing our cash register and referring us to his contractor buddies to do the same.
This economy will turn around. We will all find abundant blessings, real soon. Maybe it will be in 2014. Maybe not. But until then, we need to take care of each other and do our best day's work, EVERY DAY.
The economy won't fix itself. We need to stop depending on Washington to fix it. We need to be the change in our own economy. We need to be ethical, charitable, honest and knowledgeable.
Let us live in the spirit that built this great nation.
Let us all be in this together, giving it our all and help REBUILD AMERICA.
Everyday we should assess what went well & what could have gone better. Everyday we will have to find the best source to ringing the cash register.
ReplyDeleteIf 2014 is to be any better than 2013, we will have to become a resource to our clients rather than just another vendor trying to get into their pockets.
Regards,
Komatsu Parts