Last year I spent time in Austin, Texas. If you haven’t noticed, the city has been booming in recent years.
Since 2010, the population near Austin has grown 34% and much of that growth has come in recent years.
This has caused a number of problems for the city and a big one is traffic congestion. Austin’s I35 is now one of the worst bottlenecks in the country.
The real problem is that people are moving there faster than the city can keep up with. It takes decades for infrastructure upgrade projects to make an impact. Austin is working on building a rail system, but that’s not expected to be completed for the next 12 years. Yikes.
They grew too fast and waited too long to make the required upgrades to handle the influx and now it’s causing all kinds of problems.
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So what does this mean for you? Well, your firm can also grow too fast.
The good news? Your upgrade projects don’t have to take decades. Much can be done by process and even more with technology.
Just don’t wait too long to make those upgrades. If you do, you’ll pay a heavy price.