The best companies don’t just survive difficult markets; they find ways to turn constraints into an advantage. With fewer projects available, competition is fierce. Everyone is looking for work, but not all opportunities are created equal. The companies that position themselves well now will be the ones leading when the market rebounds.
Tough times force innovation. Necessity is the mother of invention, and in construction, efficiency isn’t just a nice-to-have—it’s the difference between staying in the game or falling behind. The best-run firms use slow periods to refine operations, strengthen key relationships, and explore adjacent opportunities that align with their expertise. But there’s a fine line between adapting and overextending. Chasing projects outside your core strengths or taking on unfavorable contract terms can create more risk than reward. As Warren Buffett reminds us, “Risk comes from not knowing what you’re doing.”
Now is the time for clear thinking and deliberate action. The businesses that make smart, strategic moves today will be the ones in the strongest position when opportunity returns.
Read more in our latest newsletter here: GLSB Newsletter #9