No matter what impact 2020 had on you, 2021 is being positioned as a year to relaunch and renew for growth.
From the national economy to local small businesses and regional enterprises to individual outlooks related to school and sports, this is the year to develop and expand everything from our perspectives to our bank accounts.
It’s true that 2020 hit a lot of the country hard in terms of COVID-19. In Texas, we saw a unique situation where many management companies experienced some setbacks while others continued to thrive.
The big question has been, now what? With 2021 serving as a transition year, with ongoing uncertainty despite a positive outlook, many of you are looking at how you might start ramping up further growth.
Going Big
Some businesses are opting to strike a deal with a large company, believing that bigger is better. After all, they have massive resources, insulating themselves and those joining them from the unexpected more so than remaining independent.
Although size can matter in certain situations, it’s not always the best strategy for your own growth plans. Becoming part of a large company can stymie growth plans because you no longer have the independence to make and act on strategic initiatives that lead to your expansion.
As part of a larger entity, you can lose the personal touch and attention that addresses the individual objectives and values that have framed your company since the start. The spirit of independence is something our country was built on, but it’s something that is fiercely maintained in places like Texas. This past year has illustrated how Texans will stand up and fight for their rights more so than other states.
Another Path to Growth
Instead of looking for growth as part of a larger organization, there is a better way that provides the best of both worlds. A co-operative (co-op) business is owned and controlled by the members who make up the organization. As part of this ownership, these members get access to the resources — products and services — owned by the co-op. This model exists for the sole purpose and benefit of its members.
A significant advantage to joining a co-op like Innovia is that all members have a voice and the ability to be actively involved in the growth and development of the organization. At the same time, there is access to resources, discounts, and financial support, when needed. That provides the stability that merging with a larger company would have offered without relinquishing that sense of independence and control over what you want to accomplish with your business.
Business Growth Yields Community Growth
A co-op builds on its operating philosophy of mutual help by also emphasizing the spirit of cooperation and community. Independent community management companies have the ability to tap into the power of this relationship to also further your social initiatives to assist those in your local Texas communities where you do business.
While you grow, those in your community can do the same. A co-op helps with local resilience and spending, driving more equity and development for all. By building your business while you nurture your local community, you are providing sustainability for those you serve who, in turn, will help you grow in the process. And, after what 2020 taught us, a focus on social benefit and taking care of all opens up economic growth for all rather than just for big business.
To learn more about how we can help your Texas community management company grow in 2021, click here!
