“If you stay in business long enough, you will eventually experience business downturns.” This statement is just as true now as it was 22 years ago when I first wrote it in my Surveyors and Engineers Small Business Handbook.
At the conclusion of the American Revolutionary War, the newly formed United States government struggled to define the nation’s boundaries--particularly in the south where other governments claimed land on the North American continent.
Making a profit in the surveying/engineering business year after year has always been an elusive proposition. And when a surveying/engineering business becomes unprofitable, it’s easy to blame the economy.
I recently received an e-mail from a young surveyor who wanted to know if most surveying companies had a problem collecting money for work performed. He specifically asked if it was a common problem for companies to keep accounts receivable up to date. The young surveyor was particularly concerned because he felt he was in line to one day take over the company where he was working.