There are many reasons to believe the future of the remodeling industry will be bright. Regardless of the challenges we’re all experiencing with the Renovation, Repair and Painting (RRP) rule, one thing we know is that the rule woke the beast. Remodelers across the country are now getting involved in the conversation about the health, security, and future of our industry. Certainly, the Internet has been key in facilitating these conversations.
I am also observing that the RRP brought many remodelers into Internet discussion groups and gave them the exposure and confidence to also participate in many other discussion topics, from seeking marketing advice to sharing best practices. All of this is good for our industry.
Remodelers should consider their future more often. If we think ahead, we’re more likely to make decisions that support our long-term vision and to reduce anxiety because we better anticipate challenges.
According to political scientist Edward Banfield, “long-time perspective” is the most accurate single predictor of upward social and economic mobility in America. After more than 50 years of research, Banfield concluded that long-time perspective is more important than family background, education, race, intelligence, connections, or virtually any other single factor in determining your success in life and at work.
According to Banfield, men and women who were the most successful in life and the most likely to move up economically were those who took the future into consideration with every decision they made. He also found that the longer the period of time a person took into consideration, the more likely it was that they would achieve greater results over their career.
It’s easy to lose long-term perspective during these tough economic times because we get caught up in our short-term targets and needs. I have discussed this topic with many remodelers who had growing businesses during the boom years. They agree that it was easy to lose perspective, and many pointed out that they didn’t realize they were losing perspective until I raised the question.
What about you? If you had a long-term perspective, do you still have it today? If you never really had long-term perspective, are you ready to develop it? You can either set up what you want to happen or you can settle for what you get!
Set your priorities by deciding what you want most for your business, your life, and even for our industry. Then organize your time and efforts so just about everything you do is the most valuable use of your time in achieving what you want. None of us has enough time to do everything on our list, but there’s always enough time to do the most important things if we identify what they are and keep them top of mind.
—Shawn McCadden founded, operated, and sold a successful design/build company. A co-founder of the Residential Design/Build Institute, Shawn speaks at industry events and consults with remodeling companies. [email protected].
Read more Shawn McCadden opinions here.
