Mar 26 2008 1:06PM | Permalink | Email this | Comments (1) |
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That's what one remodeler told me yesterday. 

From everything I'm hearing, it is shaping up to be a tough year for remodelers. You already know that -- you don't need me to tell you.

I heard it last month at the NAHB board meetings and IBS, I've been hearing it from the companies I'm talking to for the Market Leaders  list that will run in the June issue and I'm hearing it from almost every remodeler I talk to about anything else. 

It seems like fewer leads, fewer jobs and smaller jobs are the order of the day. Companies that haven't taken a job below $100,000 for years are happy to have them. I've had remodelers that have been in business for decades (like the D.C. remodeler I quoted) tell me this is the worst they've ever seen. On the other hand, there are those who seem to be doing fine. 

Those who are successful will say it's because they are better salespeople and better businessmen than the competition, but there's probably some luck involved as well. 

This may be time for a back to basics approach to business. (That's the theme for this year's Board Room columns.) Even the best companies got used to easy business that last few years. Those that most quickly adapt to the new reality are going to be the ones who make it.

That remodeler I talked to yesterday has had to make some tough decisions. He's laid off half his employees and says there's probably more to come. He admits he should have made those decisions earlier, but it's tough to pull the trigger. 

So how about the rest of you out there? How are you making it through this tough market?