Is Your Business Growth an Obstacle or Opportunity? (Sponsor Letter)

Stacie Ramos, Preconstruction Manager, KCI Construction Co.

As I read through this year’s Springfield Business Journal Economic Growth Survey, I see a general theme: Growth. As revenues increased for most businesses – 64% to be exact – plans for additional employees, more product offerings and refined efficiency are key components to 2024 business plans. With that in mind, I pose this simple, yet often overlooked, question: Will your current space accommodate your plans? With 62% of SBJ survey respondents owning their current building, I would like to offer a bit of helpful advice to ensure your five-year plans for expansion are achievable.

1. Evaluate your current space. How many square feet is it total? How much is being fully utilized? How much space remains available for future staff or production of goods? This often-overlooked step is the first and most critical task to ensure you are prepared to expand operations and meet your long-term growth needs. I recommend you evaluate your space in incremental periods of growth, for example: How many staff/or how much space will we need in two-three years, five years and 10-plus years to maintain our current growth model? If the answer at any stage exceeds your building square footage, it might be time to move on to Step 2.
2. Find your design team. This step can feel daunting to an average business owner. The issue used to be: How do we find an architect or design team that cares about our business and sees our vision? However, in our current economic climate, the more important question has become: How do we find a design team available to work on our project and help us find our vision. Did you notice the shift? This step can single-handedly stall your growth plans, if you are not proactive in your planning and start the process early. This process takes time. Conversations about space planning and site design, along with contractor selection and permitting, do not happen overnight and cannot be rushed. I would recommend you start this process around 24 months prior to any anticipated move date from your current space.
3. Prepare for the long game. Remember that in our current economic climate, lead times can be erratic, labor shortages can slow down progress and materials can become unavailable. Be prepared mentally, emotionally and financially for the full design and construction process. Be flexible with material selections and overall final appearance of your new building; establish buffers of time for major milestones related to vacating your space and coordinating the move of your existing goods and materials; and, most importantly, maintain a positive attitude. The construction process can sometimes feel overwhelming and most definitely will have days with setbacks, but trust that the end product is worth the work, communicate with your design team and contractor, and push forward with excitement.

Remember, your goal is to create more space for the production of your goods and services, along with more efficient processes to lower overhead. A new, appropriately sized building, with greater energy efficiency can be a key component in your growth plan, if you take the time to incorporate it.