Articles Tagged with ''business administration''

After the past two years, the entire world — plumbing industry included — is waiting for things to return to normal. This past year gave us some normalcy with a return of in-person meetings and events; however, with this latest spike in COVID-19 cases and the continuing supply chain issues and rising material costs, normal may be a bit further away than we hope.

December has always been my favorite month of the year. And it’s not just because it’s my birthday month! It’s also not because of the holidays — though I do enjoy spending time celebrating with family and friends. 

On New Year’s Eve, 2020, many plumbers toasted the end to the unpredictable year. Everyone looked forward to a return to normality in 2021. Uh, yeah. So, what about 2022? Here are 11 predictions for the next year.

Supply chain disruptions are ever present and show no signs of going away anytime in the near — or perhaps distant — future.

As you are well aware, our incredible industry has been experiencing massive growth for the last couple of years. We have been seeing contractors post record months for both sales and profitability at unprecedented levels. It seems there has finally even been a shift from how this industry is viewed from the outside.

It’s hard to believe November is just around the corner. Not because the year has seemingly flown by or anything, but because Southeastern Michigan was still experiencing 80° F muggy days in mid-October. It’s been crazy!

Selling your plumbing company can be one of the hardest things in the world to do. You have spent your life building up your company, making it into a profitable venture and now, it is time to sell.

Over the last year, during several webinars and in-person events, I've spoken about the idea of systems-based thinking, which incorporates the ideas of strategic thought in the form of focus (“saying no”) and identifying and executing on coherent actions. In many ways, systems thinking (a.k.a. strategy) incorporates pattern identification. 

The pandemic has disrupted the world and how business today is done. Even in the construction industry, things have been disrupted and modified.