CEDIA View: ‘You Can’t Fight Gravity’
Something Tim Costello, chairman and chief executive officer of Builder Homesite, Inc., said at CEDIA Management Conference last March continues to ring true: "You can't fight gravity."
He said that in reference to the rise and fall of the U.S. economy. What does that mean to business owners? As the housing market fluctuates, we can't fight the market trends. Instead, we need to adjust our business plans based on current and future economic conditions. We need to use all resources to look for opportunities within our own businesses.
One of those resources is the CEDIA Survival of the Fittest program, which includes monthly Webinars on various topics relative to creating a successful business. Many CEDIA members will take advantage of a unique opportunity to join us face-to-face for the Business Survivability Panel at CEDIA EXPO. We will hear from business owners, both small and large, both successful and not so successful, and learn from their experiences.
I always say that it's beneficial to learn from your mistakes, but a lot less painful to learn from everyone else's. We will all undoubtedly walk away with several great ideas from the panel. One issue we'll focus on is that it is dangerous to get bogged down in today's problems and issues at the expense of looking forward to and planning for the future. If you are attending CEDIA EXPO, and are a CEDIA member, register for this panel to be held Saturday, September 12, from 10 a.m. to 12 p.m.
In that vein, I'm also excited about the upcoming webinar, "Return of the Housing Market: When and How" on Tuesday, October 6, at 12 p.m. (EST). We are fortunate to have Dr. David Crowe, chief economist for the National Association of Home Builders, present his views on the upcoming economic recovery. Many electronic systems contractors built their businesses by working in the new housing market. But this is a special industry; many ESCs have the ability to move between new construction and existing retrofit business. I'm looking forward to hearing Dr. Crowe's views on the new housing market as well as the remodeling segment of the industry. CEDIA members will be able to use this information to revise and review their own strategic plans.