Build Business 2008: Navigating Uncertain Times

Navigating Uncertain Times: An Executive Briefing on What to Do Now

Speakers:
Randy Pollock, FSMPS – Walter P Moore
Praful Kulkarni, AIA – GKK Corporation
Monica Bell – HDR/CUH2A
Bill Viehman – Perkins + Will
Greg Nook – JE Dunn Construction
(note: speaker names were not provided in the program so I pulled them from Google searches. As a result this information may not be perfect)

Favorite Quote from the Session
“Even optimists have to come to grips with uncertain market conditions.”

Key Takeaways

  1. The speakers were generally optimistic on the market. Overall the feeling was a strong institutional/public sector market, and a weak residential market.  Only limited comments were made on the retail and commercial markets.
  2. In every market condition it is imperative that firms ‘follow the money.’  Research the market to identify future growth sectors and then work to lead in those sectors.
  3. Relationships must be the focus to succeed in this (and every) market.
  4. Prepare for the upturn that is coming through market positioning. Be prepared to take advantage of opportunities, be nimble and ready to react, anticipate the market.
  5. Look to the future and identify the trends that will dictate success: energy crisis, economic changes, and cultural changes are all important to explore.
  6. We are becoming an expertise driven industry; clients are beginning to expect the “A” team on every project.
  7. Trust and Shared Values are two of the top reasons that clients are hiring firms. Clients are looking for more than great design, they are looking for values in the companies that serve them.
  8. Politics: There was a debatable belief that the upcoming elections will not have a major impact on the industry post-election.
  9. Public Private Partnerships (P3) are a wave of the future for the A/E industry.  They represent a new change in how clients want projects to be managed.
  10. Marketing needs to intersect with human resources to develop programs that focus on hiring a new generation of leaders.
  11. Never stop marketing. Firms that do quickly find their backlogs depleted.
  12. Embrace change – with volatility comes opportunity.
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