How to position your firm for growth during a recession

Remember the pace of retail development in the New York Metro area five years ago? Now think about the last two years. As retailers froze expansion plans, development consultants struggled to sustain staff levels with a diminishing workload. The few commercial retailers opening new locations often found it more cost effective to move into existing spaces than to construct new buildings. With fewer developments, the architectural, engineering and construction industry battled to win the limited number of projects that moved forward. While the last two years have been challenging for our industry, there are ways in which consultants can survive in an unprecedented economy and position themselves for growth once the industry regains its momentum. Maintain Relationships Establishing client relationships is important. Maintaining them is critical. Upon project completion, continue communicating with your client. Not only does client contact provide insight into future opportunities, it also ensures that the client thinks of you first when new work arises. For current clients, be responsive. With less work to allocate, retailers will rely on consultants with whom they have the strongest professional relationships. Similarly, developing relationships with co-consultants is equally essential. Building your network of industry contacts will generate work referrals, stimulate lead sharing and increase the potential for future teaming opportunities. Expand Clientele It's simple math. If you are getting a smaller amount of work from your existing customers, you need to supplement your workload by acquiring new clients. Identifying active prospects and pursuing efforts to win new business positions firms for growth when the economy turns around. The economic downturn prompted many consultants in our industry to enter markets in which they had not previously worked. Firms once focused on private work sought after opportunities from public agencies. (If you attended an RFP pre-proposal conference for a local municipality within the last 6 months, you've experienced firsthand what I am talking about.) Gaining exposure in new market sectors builds industry experience, knowledge and new client relationships. Invest in Staff In the midst of downsizing, it's easy for office morale to fade. Professional development reenergizes staff and motivates the team to remain committed to your organization's growth and success. View training and professional development as an investment, not an expense. Use downtime to cultivate staff knowledge and augment their skills so that your firm remains competitive and at the leading edge of industry trends. Development practices like sustainable design, LEED certification, BIM and 3D drawings are dictating the industry's direction. Use downtime to provide staff seminars and training sessions for these emerging topics. E-learning and webinar alternatives are practical means of training without spending a lot of money. As economic conditions improve, your team will emerge stronger and more competitive than before. Remain Visible Tighter budgets force us to examine every expense. It is tempting to cut costs by eliminating overhead expenditures such as marketing. But when competitors are closing their doors, it's essential to maintain your presence within the industry. Advertise. Attend networking events. ICSC and The Retail Network are both great organizations that can help you stay connected. Getting your name out will ensure that your firm remains visible. Sustain a Positive Outlook In uncertain times, it's essential to maintain an opportunistic mind-set. Staying positive provides the momentum for moving forward. Focus on the opportunities available and celebrate your wins. Maintaining a positive attitude directly affects your professional relationships, your staff's morale and your firm's potential for success. Will retail development in the New York Metro area return to where it was five years ago? Probably not any time soon. But for those firms who entered the recession with strong relationships and were able to acquire new clients, they are positioned for growth once the economy improves. For those who maximize their resources by investing in their staff and remain visible within the industry, they will emerge stronger than before. And for those who recognize the opportunities out there, the future looks positive. Joseph Deal, PE, is branch manager of Bohler Engineering, Long Island, N.Y.