Recession or not, here we come.
“The function of economic forecasting is to make astrology look respectable.” – John Kenneth Galbraith
We’ve all heard the news of an impending recession in 2023. So is this the time to pull in your horns and wait quietly for things to look better? Trying to time the markets and the economy at large is not typically a great strategy, and while there’s something to be said for conserving cash during slowdowns, it can also be the best time to diversify into new opportunities, develop new revenue streams, and position your business to come out of a slowdown ahead of the crowd and firing on all cylinders.
At NuFlow we’re taking the advice of some of the richest people on the planet and not letting the gloom and doom get in the way of a significant investment program for our business.
“Courage taught me no matter how bad a crisis gets … any sound investment will eventually pay off.” – Carlos Slim Helu
Our new tube welding machine helps us create liner tube over 5 times faster than before, while maintaining our high-quality standards. We’ve also upgraded our CNC machines on the factory floor, and made significant upgrades to our ordering, inventory management and shipping software systems.
We recently opened two new training centers, in Escondido, CA and Sarasota, FL, and hired additional trainers. The new centers feature large indoor training decks complete with a variety of real-world pipe cleaning and lining scenarios, featuring some of the worst pipe conditions imaginable including corrosion, scale, channel rot and otherwise badly deteriorated pipe to practice on. Well-equipped classrooms ensure that our contractors have the knowledge and capabilities to tackle more technical, higher margin jobs. Training sessions cover an ever-widening range of equipment and processes, from NuTube inversion lining to NuCure Cold Cure UV, Picote cleaning tools, brush coating and connection collar lining, in addition to Haechler and IMS robotic cutters for reinstatement.
NuFlow is continuing our investment in R&D and testing, developing new products for new applications, and forming new partnerships to make sure our contractors stay at the forefront of lining technology. These enhancements ensure that our contractors can solve an even wider variety of customer problems, speeding installation, maintaining margins, and improving ROI.
As we enhance our product and service offering, we’re also working to maintain the quality and the 24/7 support that NuFlow is famous for. Our ecommerce site, shop.nuflow.com and NuFlow Central portal are both getting upgrades as well, and we’re adding even more online training courses, tests, quizzes and FAQ files to better serve our Certified Contractors.
“Be greedy when others are fearful.” – Warren Buffett
Where others may hesitate, NuFlow is launching into 2023 by aggressively investing in our business, with new technology, processes, and systems to make sure our certified contractors continue to be successful today, and in the years to come. This may be the best time to shrug off the doomsday talk and think about how you can add new services and develop new sources of revenue, for 2023 and beyond.