Predicting the ups and downs for the year ahead is akin to predicting tomorrow’s winning lottery numbers or next Saturday’s college football scores. But looking over the horizon to the coming year is a task most businesses devote keen attention to. So we compiled these 7 predictions that are expected to affect our disaster recovery and remediation business in 2017. Our predictions may well affect your business too, so we offer them for your consideration.
- The recently announced downgrade in La Niňa effects points to a colder, snowy winter in the northern US. and warmer, drier weather in the west and south. Northern states from the Midwest to Northeast can expect more severe and more frequent winter storms during 2016-2017. The Northwest will likely experience earlier and more severe winter storms off the Pacific, but California should not expect very much in the way of drought relief.
- Real estate experts are predicting a good year ahead for US housing. They see existing home sales of 6 to 6.5 million in 2017 and 1.2 million new homes being built in 2017. Multi-family home starts peaked in mid-2015 and their decline since then is expected to continue.
- Positive customer experience and revenue growth will continue to positively correlate. ‘Customer experience’ even has its own abbreviation now, CX. All of us providing home and business services are directly impacted. Companies that deliver good vibes and positive emotional connections with their customers will garner improved customer loyalty and the positive referrals satisfied customers typically provide.
- Improved training and qualifications for remediation workers will expand. Businesses, homeowners and government no longer sit by quietly when poor remediation and reconstruction work is done. Those of us in remediation and related businesses must provide top-quality work, all the time, or face consequences.
- Claiming to be ‘green’ requires proof that we are. As customers grow more concerned with the environment and the personal safety of employees and loved ones, factual evidence of safety to the environment and no harmful effects to humans or pets is asked for more frequently, and customers expect it to be readily available.
- Tax rates will change, leading to real business growth opportunities. This could be a game-changer in the years ahead. If corporate rates fall from 35% to 15% or some other level. If personal rates are simplified. When and if any of this happens, investment, opportunity, and exuberance are sure to follow.
- Businesses are for sale. But be careful what you buy. Baby Boomers reaching retirement are keen to sell, but many of these businesses need remodeling and must be taken apart and reinvented to ensure long-lasting success. Refer to all the above points to understand why.