Podcast: The Building BITE
Season 2 Episode 18: How to Successfully Grow Your Business Into Different States.
Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP and Mike Diercksen, CRIS, welcome Sarah Carson, Partner at Smith Currie here in Raleigh NC.
We open our episode by discussing Sarah’s path to construction law and what drew her to the field. Realizing how complex this area of law was, and the unique challenges that each project would present, Sarah was quick to dive in and begin learning as much as possible. Now an accomplished attorney and a leader in legal issues impacting the construction industry, Sarah leads the local Raleigh, North Carolina office for Smith Currie and also practices in Georgia and DC.
While diving into our topic, Sarah gives our listeners excellent takeaways and action items regarding the best practices when looking to expand business operations into new states and territories:
- Don’t Underestimate Your Ability to Succeed in a New Market: It can be scary to take on the risk of expansion, but now there are plenty of tools to help make that transition a successful one. The opportunity is there and can be a real launch point for companies in the construction industry to thrive. Sarah discusses these innovations and the opportunities for success.
- Understand the Where, Why, and When: Decisions like these do not happen in a vacuum and should be done after detailed planning and assessment. Take the time to really dig into where you want to expand and why you believe the market will lead to success. Most importantly is the “when”. As Sarah mentions, you need to be dialed in and understand the proper timing both from an internal standpoint for licensing and as well as dialed in to the current needs of that market and future opportunities within.
- Be an Active Participant in Your Companies Growth: It is not enough to just do your research and make the jump to a new market, there needs to be a commitment to the process. Constantly looking to better understand the complexities of your new market and maintaining a working knowledge of the active and pending laws is an ongoing endeavor and is crucial to success.
To learn more about how you can better prepare your firm for the challenges ahead, listen to our full podcast episode with Sarah on “How to Successfully Grow Your Business Into Different States.”
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Connect with Sarah Carson
View Smith Currie’s website at www.smithcurrie.com
Connect with Chris Epps
Connect with Mike Diercksen