Markets Served by BOWA: DMV Metro
Growth: We’ve grown a lot over the past two years, and I think we’ll see a more modest 7-8% this year. A lot is baked into our backlog because part of what we’ll produce in 2025 began in 2024. We might need to pivot a little, because it seems calm right now, but I’m not sure if it’s the calm before the storm or the calm after the storm. Regardless, if we’re doing the right things internally, we can have a good year.
Challenges: We’re always needing a couple of key people, and we’ve had a hard time with professional roles like HR director and marketing staff. One of our goals this year is to get better at that. As for external challenges, there are unforeseen conditions with capital markets, potential tariffs, and costs. We talk about this with clients so they understand what’s included, but if something unforeseen happens, it could result in a change order.
Advice: For several years, there’s been talk about a recession, but it hasn’t happened. However, what if it does? We’ve been through this before, and what we can do is ensure that every client is as satisfied with our work as possible. That’s the best defense against a contracting market. Don’t just try and build a good base of work because you never know when the tide might shift. You don’t want to be thinking, “I wish I would’ve nurtured that potential client better.” Let’s not get greedy. Let’s build a backlog.
Vibe: Balanced