As our economy changes, A/E firms must focus their efforts toward the market sectors that will PROSPER in down times such as WATER RESOURCE ENGINEERS, WASTE WATER, TRANSPORTATION, LNG, ENERGY, GAS & OIL EXPLORATION, PUBLIC WORKS PROJECTS AND AGENCIES, and OTHER INFRASTRUCTURE WORK….
It is also important to note that other parts of the WORLD continue to BOOM as the US dollar sinks out of sight…..So focus FOREIGN firms with offices in the US will be more competitive than ever for your potential work.
Large firms continue to be VERY VERY VERY BUSY….and they will steal people and buy firms aggressively this year…..
So far those most affected by the economic slowdown are PRIVATE SECTOR firms that in any way touch this housing mess…..and depend on clients that BORROW money….
Even firms that are doing ASSISTED LIVING development have NOT YET felt the slowdown in any way….
Florida and California are in the WORST SHAPE.
Keep all this in mind as we move into the summer months and the election…
Core BUSINESS AREAS that A/E firms should focus on are:
1. Ownership Transition (Driven by demographics)
2. Project Management (With real focus on PROFITABILITY and RAPID ADJUSTMENTS) especially for LARGE FIRMS
3. Financial Management (CASH FLOW AND COLLECTIONS)
4. Strategic Planning (What to do with last year’s GROWTH forecast??)
5. Marketing (This will SURGE as firms get aggressive in seeking new work/clients)
Everyone Principal and Project Manager in every A/E firmss hould be calling at least 3-5 PAST CLIENTS per week NOT TO SELL them, but just to TOUCH them so they know they are out there thinking about them….Touch will turn into work….
Until next time,
Frank
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