Need time to work on your business plan?

Cash is king

Cash flow is the lifeblood of your business. Keep a close eye on what’s coming in and going out, and don’t let small issues snowball. Build a cash buffer to help cover shortfalls and give you the flexibility to take on new opportunities quickly.

Make sure you invoice promptly, stay payment claim compliant and follow up overdue accounts. Getting paid on time is one of the simplest and most effective ways to strengthen your financial position.

Keep an eye on costs

Don’t let expenses creep up unnoticed. Regularly review your overheads, charge-out rates and supplier pricing. Protecting your margins doesn’t mean cutting corners; it means staying disciplined and proactive about where your money is going.

Debt is dead weight

High-interest debt drains profitability. If possible, pay down loans and look at negotiating better terms with lenders. At the same time, maintain access to credit so you can act quickly if the right opportunity comes along. Strong finances today put you in a much better position tomorrow.

Invest in marketing

When times are slow, it can be tempting to cut back on marketing, but going quiet is a big mistake. Staying visible keeps you front of mind when clients are ready to commit.

Refresh your website and social media by showcasing stand-out projects, testimonials and case studies. Keep networking with architects, developers and past clients, and don’t neglect your referral networks such as real estate agents. Consistency now will pay off later.

Hold on to your a-team

Skilled labour can be hard to find in boom times so identify gaps in your team now and plan ahead. It’s just as important to look after the good people you already have. Keep them engaged, supported and motivated so they’re not tempted to move on. Upskilling staff during quieter periods ensures they’ll be ready to deliver at pace when things pick up.

Look after your suppliers and contractors

Good supplier and subcontractor relationships are critical for keeping projects on track. Stay professional, communicate regularly and, most importantly, pay promptly. Reliability goes both ways and when the upturn comes, those who value your partnership are more likely to prioritise your business. It’s also wise to have backup suppliers lined up to avoid bottlenecks.

Downturns test resilience but can also create opportunity. By managing cash well, keeping your people and systems strong and staying visible in the market, you’ll position your business to thrive when confidence returns.

Work smarter

A slowdown is the perfect time to look inward. Are your workflows efficient? Are you losing hours to admin? Streamlining processes and adopting tools like project management or estimating software can help cut waste and make your business run smoother. These improvements mean you’ll be able to scale or outsource more easily when demand increases.

Amanda is a regular contributor to Inhouse

Published bi-monthly in print and online, InHouse is the official magazine for NZ Certified Builders.

This article featured in the December 2025 issue.