.
-Scott Hofheins
Other Topics in this Series
Do you want your business or organization to grow? Most will answer with an excited “yes, of course!”, but it is the follow up question that really matters.…How?
Growth in any arena of this existence isn’t always easy, and the path never straight. There are many variables to account for, and challenges that must be dealt with and adapted too. The approach you take, the strategies you implement and the direction you turn all affect the results, good and bad.
This also applies to the partners you work with. Their strategies and choices about growth will affect you in many ways. For some, they are your biggest fan helping you to grow, and thus helping themselves. For others, the manufacture is a silent bystander, unapproachable and satisfied with just selling a product and moving on. In other cases, the manufacturer can be a hindrance. Unwilling to see the big picture, listen to feedback or help promote you.
Nobody is perfect, and all manufacturers have good and bad days. However, there are some key points reflect on about your current, or potential partners in the LED sign business. Are they going to support your growth? How?
Growth Investment
You want to work with people who have a plan, and the ability to financially and logistically implement that plan. Just selling more product may grow a company on paper, but how they choose to reinvest and utilize their resources is key to their success.
You want to work with organizations that not only invest directly in their success, but are willing to invest in yours too. They realize that your growth is tied directly to theirs and invest in partner programs, hardware, software and technology innovations accordingly.
Timing and Balance
It’s important for organizations to have a balanced approach to growth, and know when to jump and when to wait. Invest too soon and they become over exposed, invest too late and business has gone elsewhere.
You are affected significantly by this balancing act. When a partner does it right, you reap the benefits of a stronger supplier able to provide what you need with the quality you expect. They are financially sound and ready to support your business.
Long Term
Partners who are growth oriented and manage it well, are in it for the long run. They realize that the industry needs them to support their product over time, and stay in the game. We have too many pseudo manufacturers selling cheap product with no long term support.
A manufacturer's long term approach to growth will help ensure positive feedback from customers, building your reputation as a quality provider. You can sell signs with complete confidence that parts will be available, and support is just a phone call away, in the same country.
Attitude
Can you grow to fast? Absolutely. Should that make you afraid to grow? Absolutely not. Your partners shouldn't either. An attitude of growing, expanding, and planning for change is essential to the entrepreneurial spirit that makes this country great. Embracing growth and it’s associated challenges with a good attitude and a focused mind will provide the balance needed for success.
That attitude and balance will be present as the manufacturer listens to feedback on how they can make your business grow. They are not afraid to make changes and improve their system to help you succeed. Your opinion matters.
Make sure your partner is as excited about growth as you are, willing to invest in your success as well as their own. They listen too you, and care about your business. They have a plan, and are ready to anticipate and adapt as needed to bring out the best in their company, and yours.
-SH
I hope this post has been informative and helpful. As usual, I welcome ALL constructive comments. Please feel free to comment and add anything I’ve missed, or additional tips you may have regarding this topic. Please visit www.vantageled.com for many other resources, white papers, and of course: Great looking LED Signs!
**All posts/thoughts/writings are strictly the viewpoint of me and me alone and do not reflect nor speak for Vantage LED’s beliefs, attitudes, thoughts, etc. unless specifically stated.
No comments:
Post a Comment