The New Horizons Foundation’s (NHF) new, easy-to-use, market-entry decision framework is designed to help contractors make a rational analysis of business opportunities when they arise. It is also tailored to the specific needs of SMACNA members. Using this system will increase the probability of success.
Recently, members of SMCA of Philadelphia previewed this simple framework in a half-day workshop led by Mounir El Asmar, Ph.D., senior sustainability scientist with the Global Institute of Sustainability.
Using the NHF’s “Decision-Making Framework for New Market Opportunities: A 10-Step Process,” the group worked through how to enter a new market. They followed a six-step guide focusing on what market opportunities were right for their company. They also gained valuable advice from the experiences of more than 200 sheet metal and HVAC contractors profiled in the NHF book "Experiences from Sheet Metal and HVAC Contractors."
Admittedly, evaluating and pursuing market entry can be full of challenges, but the NHF’s comprehensive lessons-learned list opened eyes to situations contractors might not have considered—accounting issues, speed of entry, labor considerations, cultural barriers, leadership commitment, and more.
SMCA Philadelphia President Robert Johnston had high praise for the workshop. He and his fellow contractors learned how to improve their chances of success when deciding to enter a new market, doing business in a new geographical location, adding a HVAC service division, or bringing on a new trade.
“I can’t recommend this (program) highly enough,” noted William Reardon, CAE, executive director, SMCA of Philadelphia and Vicinity. This system will increase the probability of success.
Because SMACNA is a major stakeholder and contributor to the New Horizons Foundation, SMACNA members and chapters are offered free access to NHF-copyrighted publications. SMACNA members please visit www.smacna.org/newhorizonsfoundation. Non-members may purchase the documents at the New Horizons bookstore at www.newhorizonsfoundation.org/bookstore.