By Judy Goldman, CEO of Front Range Design Center
We, as business owners, have been dealt a very hard hand causing sleepless nights carrying the burden of balancing the future of our companies between finding revenue and making and implementing painful cost control measures. These cost control measures usually land in one of two buckets: operating expenses or wages.
As we contemplate our overhead, we all know that our fixed costs are just that…and perhaps with the loans available through the CARE Act we will get some relief. We also know that the SBA is offering a Payroll Project Plan for 8 weeks of payroll and qualified expenses. This is all good, but there is a huge pent up demand, that word on the street is those that are first come and served first and when the program runs out of money, those that waited will be out of luck.
Even if we are one of the lucky ones, now what? I think of myself as a qualified optimist. I keep focused on creating opportunities. But I must admit, in this environment, with the worst yet to come, how do we keep our respective companies afloat and keep our employees engaged? It’s the question of the day, every day these days.
For those owners that did not get the SBA loan or are laying off or furloughing employees, now what? With a thin staff, fewer to handle orders, logistics, tracking, project management, vendor management (who is open, who is closed, who are shipping who are not…) are you worried even though your reduced payroll is a relief to the financials?
How many business owners are delaying the inevitable layoff for fear of not having enough staffing when we come out of this pandemic? It is with this in mind, that I started FRDC for the building industry. We are the building industry’s deep bench, especially at this time. My team supports, in the background, you and your clients…in what seems like a slow crawl to keep the projects moving forward.
We are spending our time keeping track of suppliers, what they are doing in response to the “stay at home” orders, we are available to find product solutions with you and for you, procure the product and get it delivered if it is out there. My background is in finance and project management, 3 decades worth of problem-solving and budget management. I remember being a banker in NYC during the crash of 1987, in Los Angeles during the Northridge earthquake (and a few others), in Northern California during the Silicon Valley dotcom crash…all having astronomical economic and emotional effects on this country. Now that I live in Boulder, built a business to services the trades: Architects, Builders / Developers, Contractors, and Designers, I am committed to ensuring our industry and the smaller players, like us, survive. Truly, I am not here for the sales pitch, I am here because I can be and I have chosen to be. That choice is to help all of you find a path through this pandemic, get an occasional night’s sleep, and keep an eye on your future.
To see how FRDC can help all players in the building industry, click here.