Tag: process improvement

Looking around the corner can help you choose a strategy that might succeed in many possible futures. On the other hand, if we chase predictions, we often settle on one possible future and choose narrower strategies. › Continue reading…

If you could generate a complete design and cost estimate with the push of a button and only had to choose which profit to go with, wouldn’t you spend more time trying to win higher margin jobs? Instead, the proposal process is so expensive and time consuming that you end up selling on price instead of your craft. › Continue reading…

Time to make some game-changing decisions

From Rental & Staging Systems April 2010

The fact that the Recession has ended was easy to miss, as was the beginning back in December 2007. Running a business is a lot like playing the stock market. If you remember to buy before prices go up and sell before they go down, you win. In business, we make investments in a different form, but timing is just as critical. Also important is your portfolio mix. There are three key investment areas in your business that are calling for your attention. The time to invest in them is now. A well-timed, diversified portfolio will set your company apart from the recession-bound stragglers. › Continue reading…

Which things can we fix and which are here to stay?

By Tom Stimson CTS

Shrinking margins, unfair competition, price shopping customers, disloyal suppliers, greedy bankers, and a general lack of appreciation for the value of your services…does this about sum it up? Ten or fifteen years ago the industry starting mumbling about AV becoming a commodity. At that time 40-50% equipment margins and an exclusive lock on professional gear made AV dealers quite happy and the AV Industry very attractive to investors. Value-added services like design, programming, and project management were considered overhead costs and what little revenue they represented was just gravy on an already profitable transaction. › Continue reading…

I was thinking the other day about companies that I admire and enjoy working with the most. What do they have in common? At first I thought it was that they are friendly and open, but that knocked a couple of favorites out of the running. I also know some very nice companies that are not that fun to work with. They are stuck in a pattern that cannot be broken without extreme intervention. When you are in a role like mine that is designed to help people, and they won’t let themselves be helped – it’s frustrating. Still, it doesn’t mean I don’t enjoy being with them. › Continue reading…

Five Skills That Are Key In Any Economy

From Rental & Staging Systems December 2009

When Rental & Staging Systems Editor David Keene asked to write a column on the business lessons of 2009, I had no trouble citing factors that seem to have the biggest impact on success in a changing economy. The following five skills are not just theory. I have seen them all in practice (though rarely all in one place) and measured their effect on my customers. And I discussed these concepts with many of you at the Rental & Staging Roadshows held across North America this year. Let me emphasize that these skills are important at any stage of a company’s life cycle, but are even more critical in a down economy when survival is on the line. › Continue reading…

Once upon a time, AV integrators made good money from equipment and labor with a healthy premium for engineering expertise. Today, equipment and labor have become commodities and engineering is the value-added service we don’t get to charge for anymore. The burden of profit is now placed upon project management and operations, which is still pretty much based on the 1990′s model. There have been vast improvements in making project management more professional and educating installers. These changes alone are not enough. We need to discover the service, product, or convenience that we can charge for today, above the commoditized time and materials we are so familiar with. › Continue reading…

If you still struggle daily with low price competitors, here are a couple of mantras for your wall:

1. At any given time, SOMEONE can do it for less.

This means that despite your best efforts, another bidder or rival for the project at hand could easily trump your low price. › Continue reading…

Is one bad month a trend? Compared to what? The month before? The same month a year ago?

Ask any manager “How’s business?” and you will likely get a response like, “Well, we are down for the year, but we just had a great month,” or “We’re having a great year, but next month looks really bad.” Why not use a week or a day? Our Wednesdays are way up this year… › Continue reading…