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How to Conduct  Business During Turbulent Times

American WeatherStar Business during Turbulent Times
September 15, 2020

By American WeatherStar.

What we learned after the recession of 2008 and how to use that knowledge now.

The “Great Recession” of 2008 felt like doomsday to a lot of people. The fear and corresponding paranoia were felt throughout nearly all industries, including the roofing industry. Companies were laying off a third or more of their workforce, making roofers all over wonder how the unemployed population would pay for a new roof if they needed one.

As 2008 came to a close, those fears intensified. A new president had been elected and still nothing changed. It seemed the only money being spent was for emergency repairs. Our industry—along with most others—was in a scary place.

As 2009 dragged on, we wondered when the economy would rebound. I spent much of my time on the phone with customers discussing the economy, the government’s response to the economy, and of course, politics. Does any of that sound familiar?

As I look back on that time and the years that followed, I have great optimism for the commercial roofing industry—specifically the roof restoration segment. What we learned as the months and years went by is that businesses must maintain their facilities even when their workforce is being laid off. Intuitively, this all makes sense. But when fear sets into a business, the decisions are not always based on logic.

Conduct a SWOT analysis

My advice for any business owner willing to listen is to take a little time and analyze your business as a whole. Go through a SWOT analysis.

S: Strengths of your business

W: Weaknesses within your business

O: Opportunities you and your team should pursue

T: Threats from inside or outside the business

Be brutally honest with your evaluation

Do you have the right people in the right positions? Is your roofing business diversified? Are there segments of the industry you are not taking advantage of? Do you service small opportunities like leak repairs? I am convinced we may see more small leak repair opportunities that may turn into full roofing or restoration projects later.

As a roof coating manufacturer that serves over 475 roofing contractors nationwide, I want to give you several reasons why your company should offer roof restoration:

  • Diversification of your business

  • Restoration is less expensive than replacement

  • Far less intrusive on your customer’s business operations

  • Less liability for your company

  • Less time and expense to train your employees

  • Better profit margins for your business

  • Roof coating technology has made great strides over the last 10 years

  • Sustainability—restoration reduces contribution to landfill waste

  • Roof coating systems are seamless when applied properly

  • Roof coating systems are fully adhered

A conservative approach

At American WeatherStar, we take a very conservative approach to the market. We realize not every roof is a “coatings” candidate, but if you aren’t offering restoration as an option to your customers, it may very well cost you jobs. Our industry has grown by leaps and bounds over the last ten years and I truly believe the recession that began in the fall of 2008 was the ignition for the growth.

We can help you to get started in roof coatings. If you’re interested in adding roof restoration as a revenue stream for your business, be sure to get the process started here.

Additionally, check out the various roof coating products provided by American WeatherStar here.

Learn more about American WeatherStar in their RoofersCoffeeShop® Directory.

Original article source: American WeatherStar



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