January is here, and almost gone. 2023 is raging on fast and furious and there is no way to slow it down! With a new year kicking off, it’s probably a great time to take a look at where we’ve come from the last couple years and what’s coming in 2023. So let’s dive in!!
LAST COUPLE OF YEARS....
All business has been……tricky the last couple of years. But small business has felt the brunt of it the most. Why has small business felt the brunt of it? Because while small and large businesses have dealt with many of the same issues, big business has the cash reserves to deal with it. We’ve seen it all….lockdowns and shutdowns, major price swings and increases, labor shortages, raging inflation……crazy times. But what hasn’t killed us made us stronger right?! In many ways, yes. And things have gotten better in some respects….the supply chain issues are easing. The pricing on some things is stabilizing. Inflation continues to be a hurdle that won’t be going away anytime soon, and finding good people continues to be difficult at times. But hey, baby steps, right?
WHAT'S IN STORE FOR 2023?....
Well, like I said, inflation isn’t going anywhere. It is going to be imperative for businesses, as well as consumers, to make every dollar go as far as it can go. Look at your budget, trim fat, and maximize those dollars! Does that mean to desperately cling to every last penny afraid to spend a thing? No, not at all. It just means to be smart. Spend what needs to be spent, but look for value and don’t be afraid to shop things around as competition is a breeding ground for savings. When it comes to finding good help, it starts with KEEPING good help! It has always been widely known that it costs much less to keep an existing client than it does to find a new client. The same has always been true of good employees.
Taking care of your employees to inspire their loyalty is job one when trying to find good help. The more you retain, the less you will need to look to hire. What does taking care of employees look like? Hire well, train well, pay fairly, provide advancement opportunities, recognize and value their contributions. None of this is any guarantee that an employee will stay, but you will certainly know you did what you could to retain them. The last thing I think all businesses need to be able to do in these crazy times is be able to pivot….Times like these may throw all kinds of uncertainties at you. What you thought your day may look like, can and will change on a dime. But these times also, usually, provide different opportunities for those who are willing to pivot and capitalize. Always be on the lookout for those opportunities!
WHAT, SPECIFICALLY, DOES COMMERCIAL ROOFING LOOK LIKE IN 2023?....
Like I said, some things are looking up! Supply chain issues are easing in most areas, and we are back to pretty standard lead times for materials. There are still some materials that have delays due to manufacturers only producing their top sellers at the normal rates, so special colors or other things might take a little longer. But overall, much much better. Pricing certainly isn’t going down. Inflation affects everything. But they aren’t changing every week like they were back at the height of the pandemic. So they are more stable, which helps everyone greatly.
The backups, or wait times for roofing projects to get started is getting better too as most of those backups were due to the supply chain and material delay issues. Really the biggest issue that will affect commercial roofing in 2023, is the same issue affecting every person in the country, inflation. Interest rates high, costs up……if you own a business you are feeling all of this! The last thing you want to even think about is your roof. But you may not have a choice. You have a building, and you have leaks. Buckets probably aren’t a great look or long term solution. So you need to do something. The key is to find a company that can maximize your dollars. A company, like J Smucker Contracting, that evaluates the roof and offers you solutions that maximize your dollars and your value for those dollars. Whether it’s repairs, coating systems, or full replacement; you want to have your roofing company working for YOU and finding ways to save you money….