When the economy is strong there is always enough work to go around. The grass is green, the sky is blue and smiles are abound. Once funds and budgets tighten and the gravy train quickly dries up we learn what we are made of. Managers get ulcers while leaders find new ways to succeed.
The Great Recession
(December 2007 ‐ June 2009)
Definition: A period of reduced economic activity ‐ when a business cycle (with two or more consecutive quarters) produces a negative GDP growth.
Wow…. Did the recession only last 18 months? Really? It felt like 7 HARD years with a strong moral learned by all…. The “good old days” are not coming back and our new reality is more honest, but not as glamorous.
The recession made TeamPAR analyze our strengths and weaknesses and our report card lead with the following facts….
- People respect those that do not lie, cheat or steal.
- Becoming an “expert” in your field adds value.
- Employ a unique practice that your competitors may not excel at.
- Don’t be afraid to ask your clients what they like about your company and what they do not like about your company & learn from it.
- Know what you are good at.
PARflooring & PARsolutions grew organically and we learned what we are good at.
- Value Engineering.
- Helping our clients increase their ROI while decreasing their life cycle costs.
- Team Work.
- Listening.
Today, TeamPAR remains a leader at value engineering and specifying flooring, but we are now consulted to help create color palettes, design boards, signage and way finding too. These newer offerings emerged from client trust. That is what inspires TeamPAR, and oddly, we have the recession to thank!
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