Blog
Oct 09 2023 |
Caution: Business under construction.By: Matt Gugliotti
Last week I went on a tear about a parking garage in Connecticut and the business lessons that can be learned from that experience. This week I seem to be starting a trend as I consider the business lessons that can be learned from my marina parking lot under construction. Perhaps my personal lesson here is: sell my car and move back to Manhattan- But let's see where this goes... Being under construction doesn't mean being an unmitigated disaster like this parking lot. For three years now the lot has been in various phases of being torn up, blocked off, used as a staging area, dug up some more, forgotten about for months on end, only to be dug up again seemingly with no plan whatsoever. Three years with no asphalt, no lines, no drainage, no direction. All the while of course this lot (of now 12 parking spaces) services the restaurant, the marina, the tenants living above the restaurant, and foolishly as a lumber yard and parking for the workers building the building that is making all of our lives miserable. I mean what could possibly go wrong with this? Or maybe I should be asking what's going to go wrong next? The restaurant has lost revenue because there is no place to park. Boaters have left because, well they can't get to their boats, the tenants are angry they have no place to park when they come home, and people are starting to wear thin on patience, and who can blame them. I mean three years without a parking lot or ample parking because of a construction project gone wrong. If you fail to plan, you should plan to fail! It's that simple. It's great ownership is investing in the property by building a new apartment complex, but the execution of the project has been nothing short of a dumpster fire. Building a business, like this apartment complex, is a dynamic thing. When active participation in the management of your business is neglected, you end up with failure. A business never gets to the point it can just "coast". You may think things are fine, but when you stop building and examining every element of your business, complacency sets in and before you know it your competitors have an edge. Now you are playing catch up. The world is a different place every day you wake up, which means your business is operating in that new world as well- everyday. If you are not continually constructing the framework to succeed in that new world, you will not survive. This means taking advantage of new ideas, new technology and new concepts that help your business be more profitable and relevant. Validate is one of those new technologies. By using the power of the Validate platform you can drastically reduce your A/R in 14 days, and pre qualify customers before you work for them. Go to WWW.Validatenow.com to learn more. -OR- Add your comment (for display after moderator approval) |
