Would Your Construction Business Survive Another 2008?

https://www.foundationacs.com Is the construction industry headed for another major correction? I’m intentionally leaving that question open because I want to hear what you think. In this episode, I look back at what happened to my own landscape company during the 2008 downturn and what I wish I had done differently. At the time, I was buried in the work. I wasn’t looking far enough ahead, preparing for what might change, or building other sources of recurring revenue that could help carry the company through a slowdown. Looking back, I believe having a maintenance side of the business could have made a huge difference. The bigger lesson is that business owners need to occasionally get out of the trenches, look at what’s happening around them, and start preparing before a problem arrives. I share my perspective on what I learned from 2008 and some of the questions I think contractors should be asking about their businesses today. Timestamps 00:00 Is construction headed for a major correction? 01:19 What happened to my business in 2008 02:50 Fighting to keep the company alive 03:30 Who survived the downturn? 04:01 What I believe could have saved my company 05:04 The recurring revenue I wish I'd built 05:56 Get out of the trenches and look ahead 07:12 What's coming down the track? 08:19 Preparing your business for uncertainty Question for the comments: What changes are you seeing in construction right now, and what are you doing to prepare your business for whatever comes next?