The last 28 months have been an economic roller coaster for everyone, and PROs haven’t escaped the white-knuckle ride through recession, corporate bailouts, stimulus packages and political upheaval.
We’ve been hanging on for dear life — trying to tend to business and keep putting food on the table — but sometimes it seems like the economic rules we’ve lived by our whole lives were turned on their ear. One day you may be busy and hopeful you’ll come out of the downturn in good shape. The next day, you might find it’s difficult to borrow money for needed new equipment.
That said, I’m seeing signs the economy is coming around, and I hope you are too. First off is what seems like a stronger showing from corporate America. If you have a retirement account with money invested in the market — through mutual funds or a stock portfolio — you may be pleasantly surprised with recent monthly statements.
WHAT’S YOUR SITUATION?
After the breathtaking market collapse in the fall of 2008, I was fearful every time I saw that retirement account statement arrive in the mail. But I’ve been looking lately, and am encouraged by how far my investments have come back. There are certainly challenges ahead, but most of the companies I own stock in are recovering nicely and issuing better earnings reports.
Along with the market climb, I’ve gotten a more positive outlook from PROs. Many contractors I’ve talked to in recent months say they’re righting the ship, slowly but surely. Economic realities forced them to take a fresh look at the business plan, and maybe they’ve learned to do more with less — particularly as they’ve adjusted to a slowing construction trade. I know you’re working long hours and are busy serving customers from the difficult time I’ve had reaching some of you. Hopefully that’s an indicator that work is on the upswing.
How do these rumblings of economic recovery figure in to your plans for the Pumper & Cleaner Environmental Expo International March 2-5 in Louisville, Ky.? If you’re planning on coming, that’s great news. If you still haven’t made up your mind about attending the Expo, I have a few questions to ponder that might help you decide to participate in the world’s largest liquid waste industry trade show.
What does the economy look like in your corner of the world?
If your outlook is brighter now than it’s been in a few years, there may be more work on the horizon. Rather than ask yourself if you can afford to attend the Expo, ask if you can afford to miss it. You know that if more opportunities emerge to bid on projects, competition will also become keener. Other service providers will look for an advantage in the marketplace. And time and time again, PROs have told me new product information and educational opportunities found at the Expo give them the upper hand when they get back home.
Is your equipment getting a little long in the tooth?
Duct tape and baling wire will only keep your equipment going for so long before you need to upgrade to serve customers during an economic recovery. The longer you wait to replace older service trucks, the more likely you’ll be to find yourself in a jam when one of them unexpectedly dies on a route. The same goes for restrooms. As you shift aging inventory to construction sites, inevitably you’ll be caught short of clean, new units to place at a backyard party or special event.
The Expo is your opportunity to kick some tires and slam some restroom doors. You’ll see all the latest trucks and portable sanitation products under one roof. If you think you’ll need some upgrades after a long dormant period of buying, the Expo is the way to make the most informed choices on products and the vendors you’ll want to work with.
Do you need some fresh ideas about new services to provide?
A few years back it was hand-wash stations. Another year it was high-rise construction restrooms. It seems each year Expo exhibitors bring a new product focus for portable sanitation providers. You may come to Louisville to choose a new truck or place an order for restrooms, only to come away from the Kentucky Exposition Center with an idea for a whole new revenue stream for your company. And that’s important in a time when diversification might be your best answer for expansion.
Are you and your staff up to speed with technology advances?
Though thousands of contractors now attend Expo Education Day, I still consider the wide array of seminars given the Wednesday before the show floor opens as the industry’s best-kept secret. When I hear some of the speakers give vital information on service techniques, new technologies and better small-business marketing, I can’t help but think about the lost opportunities for contractors who stayed home.
I don’t think I’m overstating the case when I say Education Day attendance is a make-or-break proposition for some PROs. I’ve talked to contractors who’ve told me what they learn in those sessions has set their companies up for success. And for every PRO who’s equipped for building business, there’s another who’s about to lose some customers.
A BIG HELLO
If you’re looking forward to the Expo or you’re reading this show issue on the floor of the Kentucky Exposition Center, I want to welcome you aboard. We’re happy you could make it. Be sure to stop by the COLE Publishing editors’ booth and introduce yourself. I’d love to learn more about your business and how we can serve you in the pages of PRO.
