I just returned from the latest JLC Live show in Providence, Rhode Island. It was held Wednesday through Saturday last week, March 18 to 21. It was a good show with good attendance, a stronger showing than expected given all the gloom and doom talk about our economy.
What wasn’t expected was the age of the show attendees. Most JLC Live shows have an interesting mix of attendees, with younger business owners (20’s and 30’s), as well as those in their 40’s, 50’s, 60’s and even beyond. This show had a serious lack of business owners in their 20’s and 30’s. I have been a speaker at JLC Live shows for many years now, and this was by far the oldest group of attendees that I have seen.
So the question begs to be asked, “Why?” Let me offer my theories, and I’d like to hear yours.
Many older business owners have been through one or more of the housing downturns that we are now experiencing. They even remember the last really tough market, the late 70’s and early 80’s, with mortgage rates in the teens and twenties. They know from experience that we always come out of these downturns and move on to better things, more business, a brighter future. When things are slow, they know that investing in their education will pay off in the long run.
For many young business owners, it is their first business setback or downturn. They have never experienced a lack of phone calls and business, especially when the market was so easy so recently. Many are pushing the panic button and giving their work away, and are working on the jobs themselves. They associate activity with accomplishment. They don’t have time to visit a trade show, they have too much to do.
When things are slow, concentrate on building your business. Study, schmooze, hustle and sell. Advertise 7 days a week, 52 weeks a year without fail. Make sure the business keeps on keeping on. When you are working on jobs, you do not have the time to sell and promote your company, or to keep yourself updated on what is new and exciting in construction or on how to build your business.
A downturn in the housing market is the time to look at yourself and your company and evaluate both. Read these blog posts, sign on for our newsletter and you will keep yourself pointed in the right direction. The older folks know this and that is why they attend the trade shows.
