We live in times of unprecedented uncertainty. Between the COVID-19 pandemic lockdowns and growing market volatility, it is safe to assume that every business leader has questioned the long-term sustainability of their business model. This is especially true for remodeling, construction and general contracting businesses, where value is created on-site, and remote work business models are simply not an option.
The National Kitchen & Bath Association (NKBA) has always been incredibly tuned into the home remodeling marketplace during these trying times. Going far beyond basic industry digests, the NKBA has maintained an impressive research organization that serves as a guiding light to its members.
NKBA's new digital forum, Brave New Business, is another example of the association going above and beyond to support its members during challenging times. The forum, led by NKBA's CEO Bill Darcy, was created together with the industry's largest trade show, the Kitchen and Bath Industry Show (KBIS), and key publication, Kitchen and Bath Business Online (KBB) magazine. Here are 5 reasons why we believe everyone in the sector must tune in:
1. Build Resilience by Staying Connected
One of the most difficult aspects of the pandemic has been isolation. Business leaders, remodelers, their employees and subcontractors have had minimal opportunities to interact and connect. This forum is a great reminder that you don't have to go it alone. Understanding how other remodelers are managing uncertainty is key to riding out the crisis.
2. Understand New Opportunities
Here at Deep Drawer, we work with remodeling companies based all over the country. It has been fascinating to observe the range of different business outcomes during the pandemic. The key to sustaining a business during a challenging period is understanding and capitalizing on the opportunities a crisis can create. Remodeling is one of the few sectors that has faired well during the pandemic, yet not every company in the sector has been able to capture new opportunities. Staying connected with peers and NKBA experts can help you understand how to position your business in a new environment.
3. Prepare For Changing Design Trends
Living in place is the name of the game in 2020. As we hunker down for months on end, every homeowner is full of ideas about how to make their home more livable. We are looking for ways to live our best lives at home, and remodelers have the solution. Staying connected to the industry can help you understand how to update your messaging and capture new business through the living in place trend.
4. Improve Your Business Processes
The remodeling world thrives on coming up with creative solutions to overcome constraints on the job. Every job brings unique surprises and even the most experienced remodelers learn something new from every project. Applying the same creativity and adaptability to the way you run your business is an ongoing task. Brave New Business provides the forum to hear about the latest best practices in our industry and get expert insights on how to improve your business.
With that in mind, we hope to see you on the BNB webinars and virtual events. We've also put together a live keyword tracker to help you keep up with remodeling market trends, as well as other remodeler resources, such as our free competitive analysis and more...