However, I believe that's what business is all about -- taking smart risks when others are afraid to. Or simply can't. If you spend money wisely on your business in a tough economy, you stand to reap the benefits when the economy rebounds and the winds of business momentum will be at your back.
So I thought I'd list the reasons why you should re-invest in your agency at a time that most people would suggest you have your head examined:
- Inspiring new offices boost morale, which has a positive impact on the work.
- Increases client retention -- clients like to feel that their agency is staying on top of their game, always evolving and successful.
- Renovating your office space makes your agency a little more competitive on new-business tours.
- Modernizing your systems enhances your ability to serve your clients in an efficient manner. In our business, we have little choice but to keep up with technology.
- The economy needs it, darn it! Keep those contractors, painters, IT guys and carpenters employed!
- Creating an inspiring workplace is not a priority.
- Your aging systems are just fine, and hopefully won't crash when you are preparing for a big client presentation.
- Your clients don't care what your offices look like, as long as the work is good.
- You just cannot afford it.
Maybe I'm an optimist. Maybe I'm crazy. But we've been successful for 45 years, so I believe we made the right decision to re-invest this year. Because if you want to ensure your extinction, cease to evolve.