While every business owner seeks to positively advance their company, there exists a fine line between growing and taxing an organization.
2010 has been an incredible year for Dover Realty Advisors – since last December, we have experienced a 50% growth in our group, including expansion through our recently added Cincinnati Regional Office. Our goal of growth into the multifamily markets of Ohio, Indiana and Kentucky has begun to be realized. Adding properties in Lexington and Louisville, Kentucky will be next on our horizon. Yet, despite the continued demand for our services, we are proceeding with caution, moving forward.
The key to success in this economic realm remains treading carefully; pausing for reflection and analysis even when things appear to be going “great guns” – in particular when it comes to people. For example, sometimes you need to take a look at utilizing contract employees and outsourcing particular functions. This approach serves to make sure your in-house staff does not become too stretched while keeping overhead in check. It also protects you should the need for right sizing come about.
Many companies are moving forward in this way with an eye in particular on how healthcare reform will affect operations beginning next January (2011). I’ve read the 2,000 page Act and am particularly concerned. The government says companies will be able to keep their health insurance plans but the Act says otherwise. Instead, with new dictates in place, many plans could go away and companies and their employees could find themselves faced with less desirable options – from both a benefits and cost standpoint.
The possible ramifications are not pleasant with resulting uncertainties sure to influence many companies to at least temporarily shelve thoughts of growth, even of the well-managed variety, for a more conservative wait and see approach.