The natural EBB and flow of tides has a calming effect on human nature. Tides are predictable yet ignoring their importance can have a devastating effect on society and businesses alike. When a storm like super storm Sandy blows through your neighborhood, you have witnessed first-hand how changing tides can have a catastrophic effect on your ability to survive.
From a business point of view, institutions that drive our industry operate in the new paradigm of the natural EBB and flow of business cycles. A banking facility requires a steady stream of strong financial data to assess risk in providing the capital required to manage cash flow in an industry with archaic payment terms and conditions. Insurance companies demand a boat load of policy and procedures to help mitigate risk. State, County and Federal agencies impose a prequalification and requalification process that requires an MBA, CPA and law degree to comply with. As you navigate your business through this new paradigm, avoiding the peaks and valleys and maintaining a steady course can only enhance your chances to succeed.
With the recent development in leadership in the New York City District Council of Carpenters and a customer base with little to no interest in signing with the New York building trades, the tides are surely changing. Have a life vest handy and hold on tight, the seas are likely to become more challenging to navigate.
I hope to see you all at the upcoming AWCI Industry Executives’ Conference and Committee Meetings in Memphis, Tennessee in September where you can substantially impact your business by attending the many educational sessions. For more information and to register, please visit www.awci.org/iec-register.
Enjoy what is left of the summer and steer clear of those white caps!