Steps To Economic Recovery
August 1, 2009
By
Canadian Consulting Engineer
Given that an economic recovery seems to be on the horizon, PSMJ, the U. S. business advisors to the architectural/ engineering/contractor sectors, polled their clients about what challenges they see ...
Given that an economic recovery seems to be on the horizon, PSMJ, the U. S. business advisors to the architectural/ engineering/contractor sectors, polled their clients about what challenges they see ahead.
These are the top seven responses from the firms:
1. Making sure they have enough capacity to build up a new pipeline of work quickly.
2. Keeping cash flowing so they can devote more resources to building the business.
3. Protecting their investment in young staff by providing them with interesting work and a solid career path.
4. Developing processes to ensure clients pay invoices faster.
5. Making sure they’re paid enough for change orders.
6. Figuring out how to diversify in order to be recession proof.
7. Rebuilding their organizations to get back on the growth track.
