Professional growth can happen as a result of disruption

New year, new you can mean a lot of things personally and professionally. Having experienced dramatic market changes in the agricultural industry this year, many local manufacturers in OEM supply chains are wondering “who” they are to their customers, their employees, to the regional economy and to the global markets. Instead of focusing on challenges, now is the best time to creatively think about solutions.

Many find change uncomfortable, but personal and professional growth often happens as a result of disruption. So, what if we apply a growth mindset to prepare for the new year?

Businesses can take advantage of a business trough by redirecting their attention to areas of potential opportunity for their businesses. 

Here are a few things to consider:

• Efficiency – analyzing organizational processes to identify and adopt lean principles or automation.
• Training – take advantage of slow production periods to upskill existing talent. 
• Apprenticeship & Work-Based Learning– don’t put off tomorrow what can be accomplished today. Start engaging with the next generation of workforce.
• Diversification – research government contracting opportunities or expansion into new markets.
• Safety – recommit resources to building and sustaining a safety culture.
• Sustainability – find resources to adopt sustainable practices and potentially save money.
• Employee engagement – get back to basics with coaching and development conversations.
• Succession planning – preparing a transition plan for your business as you move closer to retirement can take time. Start identifying resources to take the right steps to be prepared.

This is not an exhaustive list of business activities, but some that have been brought to my attention from local manufacturers in the few past weeks. I recognize procrastination is the “thief of time.” If you need some support to help you take the initiative on any of these activities, consider reaching out to the Quad Cities Chamber. We’d be happy to connect you with resources like:

• Local manufacturing extension partners; CIRAS – IA State University or IMEC – Illinois Manufacturing Excellence Center. Both organizations offer technical assistance and financial assistance to support you in many of the activities listed above. 
• Grants through the Mississippi Valley Workforce Board or training funds through the American Job Center in Illinois, to help with existing employee training and apprenticeships.
• CIRAS and IMEC both have APEX Accelerators if you’re considering expanding into government contracting.   
• Mid-American Energy, or local city officials can help you with cost savings or local funding for utility assistance and façade improvements. 
• The Illinois Enterprise Zone can be a tax-free option to help you save money on capital improvement projects in the new year.
• The Iowa Economic Development Authority or Illinois Department of Commerce and Economic Opportunity can provide financial incentives to help you make progress on overdue capital improvement or business expansion projects.
• The Quad Cities Chamber Membership Directory is a great resource for services from member businesses in legal, financial and insurance industries that can help with succession planning.

We are here to connect you with key resources to help your business be successful. Follow our weekly Economic Trends and Indicators blog for reliable information on the economy in 2025. Cheers to a prosperous New Year!