Even considering many good signs that the economy is tracking in the right direction, there are no signs of over-exuberance in the forecast. For construction, FMI expects a 1% increase in construction-put-in-place growth over the 5% in 2016. Our forecast is tempered by many forces, including a downtick in the fourth quarter FMI Nonresidential Construction Index, which dropped just 0.4 points to 56.9. In the fourth quarter of 2015, the Index stood at 59.5.
Questions that company leaders should be asking themselves right now include:
- What do you want your company to look like five years from now? Or 10 years from now?
- What boundaries have you put in place that prevent you from chasing the next shiny object/opportunity?
- If you identify an opportunity, does it take your company closer to your Big Hairy Audacious Goals (BHAG), or is it merely a detour?