According to reports from numerous sectors, the Dallas area is recovering faster from the recent Great Recession than the rest of the nation. In fact, Dallas is out-performing most of the other major cities in Texas. Building is on the rise, including development of both commercial and residential properties. Even more new data centers and call centers are in the works, and these new construction projects create even more jobs to aid in Dallas’ economic recovery. How can your business keep pace with the growth?
Outsource More Work
Adding staff too quickly is not the best strategy for staying competitive during a slow-moving economic recovery. The key is to add capacity without incurring more overhead costs. Begin outsourcing things like housekeeping, accounting, IT, and customer service, so your core employees can focus on providing a top-notch product at a low price. Outsourcing doesn’t mean sending jobs outside of the area, because Dallas call centers can handle anything the outsiders can.
Consider Investing in New Advertising Opportunities
One of the few areas where it does pay off to go ahead and loosen the purse strings is advertising. Since many companies drastically cut these expenses during the worst of the recession, you can come ahead of your competitors, by being among the first in your industry to boost ad spending and bringing in customers faster.
Shop for a Better Location
Now, before the real estate market fully recovers, is the best time to shop for a new location. Interest rates are still low, and there are still plenty of properties available. If you plan to invest in a new office or warehouse in the next few years, now is your best bet for capitalizing on good prices and rates.
Plan your strategy now, so you can come out on top of your industry as the market finally stabilizes.