Beating the boom & bust Cycle in the Construction Industry

Beating the Boom-and-Bust Cycle in home construction means getting prepared before you feel the effects of a slowdown to reduce the negative impact on your business when times get tougher.

The Aspire Institute for Contractors has helped thousands of GCs navigate the complex decisions they face by providing coaching and business practices that empower GCs to proactively prepare for economic downturns by building resilient, well-oiled machines that control their outcomes instead of reacting to the storm. There are common truths about Boom and Bust cycles – whether you’re in tech, automotive, or construction. While each has its unique differences, the same specific processes with a good dose of discipline keep businesses thriving in Bust Cycles. As history has shown repeatedly, what goes up always comes down. And after the big 2020-2021 home remodeling and construction boom as millions of Americans bunkered down or used savings for their dream home…you can get on it. The next downturn is coming. Being caught off guard can be disastrous, leaving you scrambling for financial survival. But what if you could build a construction business that thrives, not just survives, in any climate?

• 3 things to do right now to reduce workload and stress while making better profits than in past Boom cycles
• Contractor processes to avoid at all cost – because they make Bust periods worse.
• 2 unique things that can only be done in Boom times to head off negative impacts in a down cycle.
• Nimble, agile business processes so you can course correct quickly during fluctuations and forecast the next cycle