Some people ask me why I have taken on a project of this size in this economy. With the downturn in business, why not wait until things get better? Other shop owners question my sanity. They tell me; “don’t you have enough problems running the business you have already’? Why do you want more headaches?
Well the truth is, I didn’t know the economy was headed into a downward spiral. And even if I did know, would it be reason not to expand? And is growing a business adding more headaches?
Right after I got my approval from the town planning board last February, my shop foreman, lead tech and service advisor came to me and urged me to wait on this project because of the economy and the rise in gas prices. I told them absolutely not. I assured them that I have done my homework and did the math. I told them this would work. It will take hard work and years to see a profit, but when this expansion is complete it will be the largest and best-looking state of the art facility in the area.
I also told thanked my crew for their concern and understood that they were fearful of their futures also. But I told them that without risk there is no gain. I reviewed with them the reasons for the expansion: the parking issue, the fact that we have outgrown our current facility, the fact that we own a building next door that is in such disrepair that its mere appearance hurts us and that just doing nothing would be wrong. By demolishing this building and erecting a new building with a brand new large parking lot would be good for business. The project also makes economic sense. It will increase the value of the property and makes the property and buildings more marketable.
There will always be people who will think you are crazy. One of my tool vendors actually advised me against expanding because he felt I would be creating a business too large to sell. Too large to sell? Do you think Donald Trump ever felt that way? Or Bill Gates? Or Warren Buffet? I am not putting myself in their company, but that tool vendor is crazy, not me!
My advice? Chase your dreams. Walt Disney lived by this creed and look at the empire he built. Don’t settle for average. Anyone can be average. Push yourself to keep growing and expanding. In business, if you’re not growing, you’re dieing!