Building smart homes and smart businesses
Where did January go? It’s been a busy start to the year, gearing back up after the holidays and getting our February/March issue out the door.
As always, it’s full of information on the latest trends in home renovation. Take, for example, regular contributor Martin Zibauer’s article, “Siri, how do I build a smart home?” As he writes, “according to recent research, the global smart-home market will grow by 14.5 per cent per year over the next four years, and 86 per cent of millennials and 65 per cent of baby boomers are willing to pay more right now for a place with home automation.”
Managing Editor Allan Britnell recently travelled to Colorado to sit in on Breakthrough Academy’s annual Winter Summit to learn more about how this company helps its members move from survive to thrive. His recap of the event is also in the issue.
New markets and new business practices will surely come in handy if the market starts to slow down. At least one reader seems to think it is already. Writing in response to my Editor’s Note from the December 2018/January 2019 issue, Ron Rothfuchs had this to say.
“We have just seen full two-week shutdowns over Christmas at some of the largest parts manufacturers in the country,” writes Rothfuchs. “They haven’t done that since the last recession. We have also had customers request re-quoting of existing products and discounts for payment terms under the threat of going to the competition – hard to do when you’re already being very competitive and our dollar is declining in value (all our materials are bought in USD).
“I also gave my employees some fatherly advice recently to not spend all their Christmas bonuses too fast.”
My own fatherly advice: Stay on top of the things clients are interested in and, if your business is struggling, seek out advice from knowledgeable people who can how you figure out what you’re doing wrong.