Poll Results: Where Are You Comfortable Taking Risks Right Now?
Remodelers say they’re comfortable taking risks if it can improve quality and efficiencies and boost their reputation. And they’re interested in exploring new materials, suppliers, and products.
Market conditions are always changing, so remodelers and home improvement pros need to know when it’s right to take risks, what risks are worth taking, and then being motivated to take them.
Pro Remodeler wanted to know how you’re navigating these decisions, so earlier this year we conducted a poll and close to 100 of you weighed in. Here’s what you said about risks and rewards.
Remodelers are comfortable taking risks in several areas, including with new materials and products (33%), project scope (31%), marketing strategies (30%), and technology (26%). They reported being less likely to take risks when it comes to expansion—so fewer are inclined to add new services (17%) or enter new markets (15%). Only 16% said they’re comfortable taking risk with design.
When remodelers are comfortable taking risks, their main motivation is improving efficiency and quality (46%) followed closely by improving their company’s reputation (36%). Not far behind is the potential for higher profits (33%). They're also motivated to stay ahead of the competition (28%).
