Seeing the big picture

By Emma Peterson. 

How the Farnsworth Group fosters business growth by helping contractors and other professionals better understand the market around them. 

One of the hardest parts of running a business is balancing the day-to-day tasks while also working on big picture planning. To dive into how data can help you run your company, Eric Voyer, a senior consultant at the Farnsworth Group, came by for an episode of Contractor Outlook™.  

The Farnsworth Group is a consulting firm that serves two primary functions – to provide insight into the industry on a whole and to help customers utilize that information in their businesses. As Eric put it, “We help manufacturers, retailers, trade associations and other professionals in the building products and home improvement space answer questions. They come to us with challenges and then it's our job to help them try and sort that out in a strategic fashion and just answer the question of how they can get more business based on their understanding macrotrends in the larger industry.”  

In our conversation with him, Eric highlighted two macrotrends that the Farnsworth Group consultants are talking to their clients about:  

    The rise of data centers: Overall, there have been some drops in construction, specifically on the commercial side. Eric shared, “It used to be that commercial construction was running around $80-70 million, now it's dropped somewhere around half of that.” But what’s really interesting is the rise of data centers as the loss replacer in this sector. This not only is rewarding businesses that build new data centers, but also those who work with the infrastructure around the data center, like distributors of copper and HVAC inspectors.  

    Overall uncertainty: We’re all probably sick of this word, but uncertainty really is one of the biggest trends that Farnsworth Group is helping their clients navigate. Eric explained, “We're seeing drops on a regular basis because people just don't know. Are we going to have tariffs? Are we not going to have tariffs? Are we going to have material shortages? Just this month we saw a 40% increase in diesel cost that we couldn’t have predicted two months ago.” 

These trends are just two examples of the key areas of focus that the Farnsworth Group is able to identify as a third-party consulting firm. And by identifying them, they are able to help their clients find an effective balance between managing their day-to-day operations and the long-term success of their companies. 

Listen to the newscast or Watch the recording to learn more!