Love hearing stories of recovery and growth in a time of economic hardships and recession.
The latest good news comes out of Charlotte, NC with Ben Collins, owner of the Salins Group. Collins has been living in Charlotte for the past 15 years and had initially moved there to become a residential contractor.
With no experience in this area, he started work on his own home, eventually moving on to work with multi-million dollar properties. However, after the housing bust, business all but dried up, and he had to do the unthinkable: he fired 13 of his employees. In the end, the decision to take 10 steps back in order to salvage his company really helped.
After 2008, Collins restarted his business, going for fewer and smaller projects. These smaller projects coupled with being more resourceful with equipment and materials has allowed him to rebuild his business. With nine employees and a fresh outlook on his career as a contractor, he’s on track to making more money than he did before the recession.
So what’s the lesson here? Even if you have to take a few steps back and reorganize your company, don’t look at as a failure. Sometimes things fall apart, so that better things can fall together.