Business Strategy Archives - Page 2 of 5

How Will Your Firm Handle a Cyberattack?

When discussing cyberattacks with anyone knowledgeable on the topic – security experts, victims, insurers, even the criminals themselves – their ominous warning is the same: it is not if your firm will be attacked, it’s when. In this issue of The Friedman File, we speak with two firms who suffered and survived the nightmare of a ransomware attack, and we offer several crucial steps that every firm should take to protect itself from this growing and potentially catastrophic threat.

A Threat to the Firm’s Existence

On Monday morning, March 25, 2019, Grimm & Parker Architects’ President & CEO Melanie Hennigan led a successful client interview for her firm. Satisfaction quickly turned to disbelief, then to dread when she was informed on the ride back to the office that her firm’s computer network had been encrypted by cybercriminals demanding an exorbitant ransom.

“You don’t realize the pit you feel in your […]

By Rich Friedman|2021-08-11T10:31:18-04:00August 2021|Business Strategy, Case Studies, Leadership|

Markets Rebounding, but Uncertainty Reigns for AEC Firms

These are confusing times for AEC firms wondering where their markets are heading. Most sectors are recovering as economies in the U.S., Canada and across the globe emerge from the pandemic-induced slowdown. Some – particularly in the commercial and educational spaces – continue to struggle in many locations. Add to this the threat of inflation in materials pricing leading to escalating project costs, and the potential of a $1.9 trillion U.S.-government-backed infrastructure package, and you have an industry in flux.

In this issue of The Friedman File, we assess the current state and outlook for the markets that AEC firms serve, as well as disruptors and catalysts that could dictate the health of the industry for the next several years.

Recovery in Full Swing

Since 2003, consulting and publishing firm PSMJ Resources, Inc. has surveyed its customers about the outlook for the major AEC markets, using […]

By Rich Friedman|2021-06-03T19:28:26-04:00June 2021|Business Strategy, Market/Client Research|

Confronting Loss in Your A/E/C Firm: One Firm’s Story

Loss was all around us in 2020. Recent polls found that between 20% and 33% of all Americans knew someone who died from COVID-19, while many millions lost jobs, life-affirming activities and other cherished freedoms during the pandemic.

In this installment of The Friedman File, we discuss how loss affects A/E/C businesses and the people who work in them. We examine this sad fact of life through the lens of a resilient architecture firm that encountered great loss in 2020, and – with strategic foresight and a rock-solid culture – expressed their collective grief and marched forward undeterred.

The Best Laid Plans…

JLG Architects was looking forward to a big 2020. The 150-person employee-owned firm carried a record backlog into the new year and was pursuing a jewel of a project – the Theodore Roosevelt Presidential Library in Medora, North Dakota. With 11 offices in Minnesota, […]

By Rich Friedman|2021-04-12T16:27:53-04:00April 2021|Business Strategy, Case Studies, Leadership|

Lessons in Diversity, Equity & Inclusion: stories from the front lines

Even before much of the nation erupted into protest at the brutal death of George Floyd last May, social justice was on the minds and tongues of Americans to a degree unseen since the turbulent Sixties. For much of the past decade, in corporate boardrooms and small firms across the United States, leaders assessed and addressed their organization’s commitment to DEI – Diversity, Equity and Inclusion.

In this issue of The Friedman File, we examine how socially conscious AEC firms are creating DEI initiatives that contribute to improvements in employee morale and overall financial and operational performance.

The Business Case for DEI

Whether driven by a grassroots effort among rank-and-file employees or a top-down strategy, even the most selfless pursuit of practices and policies that further the goal of DEI come with an undeniable incentive — businesses that embrace DEI perform better.

Global management consulting firm McKinsey […]

By Rich Friedman|2024-06-21T13:10:44-04:00February 2021|Business Strategy, Case Studies, Leadership, Recruiting & Retaining Talent|

2020: Lessons learned and where we go from here

If there’s one phrase that describes 2020, it is not “business as usual.” The ways in which A/E/C and environmental consulting firms have fared in this unprecedented year have been as varied as the businesses that they run. In this issue of The Friedman File, we’re sharing some lessons learned, how firms have coped (or thrived) and what we see as ways forward in a still uncertain landscape.

Leading during crisis

While I’ve long advocated for transparent management, 2020 has required that on a whole new level. At times of economic uncertainty, employees look to their leaders to chart a course, to have a plan and to enact, if necessary, transformational changes or survival measures. It hasn’t been easy to be a leader this year, but many have risen to the challenge: enlisting staff in the need to create new services, implementing firmwide business development […]

By Rich Friedman|2020-12-09T10:56:45-05:00December 2020|Business Development, Business Strategy, Case Studies, Leadership, Marketing & Branding|

Baking business development into your culture: how this firm did it

In my many years of advising AEC and environmental consulting firms on effective business development practices, I’ve seen that firms who are successful have several things in common:

They understand the need to position themselves within their key markets using a one-to-many marketing strategy (instead of relying solely on 1:1 relationship-building).
They put systems in place that allow that strategy to deliver valuable data that can drive and inform BD strategy and implementation.
They align both business development and marketing efforts to clear and client-focused business plans for each of their key markets.

This level of strategy and focus is what allows firms to successfully drive growth, brand and client relationships. But it’s not always easy to implement. Trying to drive the effort from the marketing department without enforcement and accountability from the top is rarely effective. Employing marketing and BD tactics without clear […]

By Rich Friedman|2020-10-01T11:18:53-04:00October 2020|Business Development, Business Strategy, Case Studies, Marketing & Branding|

Client selection is more important than ever

When the economy starts to look rocky and project opportunities may be diminishing, it can be tempting to start saying yes to work that’s not a great fit (but it’s work) or chasing RFPs.

I saw a lot of this happening during the Global Financial Crisis (2008–2009), and I’m seeing it again now. In times of uncertainty, of course, we may be more willing to take on a project that is not ideal. But too often, firms start to convince themselves that throwing best practices out the window is their best option.

In this issue of The Friedman File, we’re talking about why that’s not a good idea and offering some helpful guidelines for creating and implementing a thoughtful client selection process, one that strengthens your firm for the future.

What we’re doing that isn’t working

Many firms do have informal go/no-go processes in place. But the […]

By Rich Friedman|2020-07-30T10:33:31-04:00August 2020|Business Development, Business Strategy, Market/Client Research|

Thriving in a time of crisis and disruption

Few, if any, businesses can say they saw this pandemic coming. For some AEC industry firms, the business ramifications have been severe. While the market sectors you serve do play a role, there are other factors that can significantly impact the resiliency of your business during a time of crisis.

In this issue of The Friedman File, we’re going behind the scenes with one engineering firm that isn’t just coping with the COVID-19 disruption, they’re looking at it as an opportunity to reinvent their business.

Fortunately for 175-person engineering firm Borton-Lawson (Wilkes-Barre, PA), that business focuses on two client sectors with ongoing operations— public and private infrastructure, and industrial and energy. Three years ago, the firm also rolled out Beyond Engineering, a technology-focused initiative that is proving itself well positioned to meet the current moment.

To President and CEO Frank Joanlanne, the opportunity is not just […]

By Rich Friedman|2020-06-03T16:20:16-04:00June 2020|Business Strategy, Case Studies|

Client relations in the era of COVID-19

As COVID-19 turns business as we know it—and our global communities—upside down, there are no easy answers or sure projections. While some AEC and environmental consulting firms have not experienced a disruption to projects, others are seeing warning signs and are increasingly nervous about what’s next and some are already slashing costs to contain the bleeding.

Multiple industry surveys reveal that the business impacts, like the virus itself, could vary widely and may well get worse before they get better. I’m hearing from many firm leaders who are doing their best to balance the day-to-day pandemic response with planning for project delays and revenue declines.

None of us knows when our business life will return to any sense of normalcy, but we do know this: firms must prioritize their relationships with current and prospective clients now so that those relationships come out stronger on […]

By Rich Friedman|2024-06-21T13:02:55-04:00April 2020|Business Development, Business Strategy, Case Studies, Leadership|

Surprising truths about building a learning culture (one firm’s story)

The rate of change is moving at an increasing speed. Technology continues to change the way we design, build and run projects and our firms. In this issue of The Friedman File, we’re telling a story that we hope will inspire you to decide what kind of culture you want to build and be bold about going after it. It’s the story of how one firm has gone all-in on creating a culture of learning and innovation. They’re doing it in a way that is sometimes at odds with conventional wisdom— and growing a profitable business at the same time.

The big why: innovation + a growth mindset

Turner Fleischer (Toronto, Canada) (www.turnerfleischer.com), a 150-person architecture firm specializing in private-sector projects is determined to be on the forefront of technology and education. This is their strategic priority, and over the […]

By Rich Friedman|2024-06-21T13:10:51-04:00June 2019|Business Strategy, Case Studies, Leadership, Recruiting & Retaining Talent|