How Do You Grow When Facing Economic Headwinds?

By BILL WOLFE on OCTOBER 24, 2016

Construction Is Booming , But Headwinds Are Coming

According to the National Bureau of Economic Research (NBER), our economy has gone through eight cycles of recession since 1960. This means we have found ourselves in a correction/recession every eight years over the past 56 years. We are now in our seventh year of official growth since 2009. These statistics suggest that in the next 18 to 24 months we will be facing headwinds, or market correction.

If you are in a leadership position, the question is: if these statistics are correct, how do you position your company to not only survive, but continue to grow during times of economic headwinds? We have seen successful companies accomplish that by adopting the following nine principles:

  1. Don’t kid yourself. (Denial will not serve you well).
  2. Work hard.
  3. Recommit your energy and focus within your company and in your industry.
  4. Work with a servant’s heart.
  5. Look for a way to improve your team.
  6. Challenge your team daily.
  7. Seek opportunities daily for yourself and your team.
  8. This is no time for a sense of entitlement.
  9. There are no shortcuts.

In our experience, following these directives can make a difference in a down market. We have a long history of serving the construction industry, and as an executive search company, we are out in front of the market most of the time. Construction is booming now, but headwinds are coming, as they always do. From where we are sitting, it is always a smart move to be prepared.

The Author

Straight from the desk of

Bill Wolfe

Bill Wolfe

Vice President

Bill began working at Kimmel & Associates in 2007, and he concentrates his service on heavy equipment and heavy civil clients and professionals. Bill’s exemplary work and determined effort led to his 2008 Rookie of the Year Award and Consultant of the Year Award in 2009. His success in the search industry was recognized in 2009, with his promotion to Vice President, and his 2010 appointment to the Board of Advisors.

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