So You're Saying There's a Chance?

February 3, 2009

I have been thinking a lot about what I was going to say this month. Man, has it been tough to put into words. We have a new president, a new proposed plan for economic peace, a new Super Bowl game and new businesses going out of business everyday.

Crazy times are here.

I hope not to stay.

As I look at the state of our union and especially our industry, I think to myself, “Is there a chance”?

In our neck of the woods in Texas, business has been mixed. Our new builders are not building spec homes and customers are not moving. There is so much fear and trepidation going on in the press and in everybody’s mind that people are scared senseless. Companies are trimming the fat, trimming the bottom line and getting rid of people and jobs. It has been scary but not as scary as some states. Even though this perceived state of the economy looks bad, the reality is there have been phenomenal chances for growth.

As a CEDIA Certified ESC, I have noticed a lot of opportunities to turn the negative into positive. It is no longer doom and gloom in our organization or in my mindset. I know that a lot of us are scared, and when you look at people losing jobs and families not having money to eat or take care of bills, the doom and gloom is real. But as I look at that, I look for ways to turn it into something positive. Our builders are not building a lot of new homes. Yes, that is true. But there are a lot of builders who are still building and they are expanding their services by retro fitting current homes. Clients may not be buying new homes but they are spending money creating safe cocoons and nests. This offers extremely lucrative opportunities to grow. Even though retro fitting is hard and it can be a nightmare if done wrong, it can also be the difference in success or failure.

Expanding our services has also given us a shot in the arm. We are offering more design and engineering. We are offering more acoustics and lighting and control options. We are not only offering more services to our client but we are tightening the reins on processes and procedures. We are daily revamping or ways of doing business so we can be more efficient and more practical in how we work so we stay lean. This not only makes us become more cognizant of our resources and how we are using them, but it also shows our clients that we are sympathetic to their issues. We are maintaining the same mind set as our clients. If I was going to cocoon or hide out and nest, what would I want to do? How would I want to interact with my home and what features would I want to have at my fingertips? These are the thought processes we are taking because we know that times are tough and value does not always mean cheaper.

Time, energy and talents are what I have to work with and it is my job to be a good steward of what I have. When I stay focused and sincerely think like my client and continue to use my resources so that he can succeed, I will succeed. And I will always be given another chance.

Lewis Franke CCPI, CPD, CCI, ROI, DM Home Entertainment

Posted by Lewis Franke on February 3, 2009 | Comments (2)

February 4, 2009

In response to: So You're Saying There's a Chance?
Charles Hawkins commented:

Mr. Franke - Don't forget about QUALITY. Without that necessary ingredient, your TIME, ENERGY, and TALENT may be wasted. Integrators who stick to core values understand that Quality pays in a difficult economy, and both the Integrator and their Customer benefit. Integrators who relied on a 1-dimensional focus of lowest-unit-price-of-goods when the economy was running on all cylinders now realize that - because of poor quality that results in lost time, forces high maintenance-and-repair callbacks, and creates dissatisfied customers - the resultant loss of customer trust and erosive nature of word-of-mouth negativity plays a huge role in failure to weather economic downturns. In a tough economy, adding new sales is an incredible challenge. Referrals and job testimonials are Priority One, and those important factors depend on a Quality job being accomplished. To rely on the Priority One fundamentals of Referrals and Job Testimonials, Customer Satisfaction is the lock, and Quality is the key. Good Quality may be only one of many factors to increase opportunities and/or close more sales, but Poor Quality ON ITS OWN can drive existing or new business opportunity away. Flat panel TV wall mounts are a perfect example of how the Quality factor affects business-growth opportunities. For such products, driving down unit costs by sacrificing Quality results in a weaker, poor quality product that causes unreliable substandard product performance, inefficient installations, and lost time during AND after the installation – which increases the potential for Dissatisfied Customers whether it be the installer-integrator or end-user. Why risk the loss of business by choosing a 1-dimensional cost strategy? At PDR Mounts, we use rugged gauge steel construction and pack our designs full of features to ensure a quick installation for the Integrator and provide Best Value for the customer...with a 100% American Made product. Greater installation efficiencies and more reliable product performance result in satisfying the Integrator as well as the end-user. This is a foundational conviction that PDR Mounts will never compromise, and this Quality Focus will work for any business regardless of product or service offered. Quality drives Sales, and that’s a Two-Way street in front of the customer. One direction leads to your Company, the other leads…to your competitor. The smart business realizes Best Overall Value trumps Low Price, and a satisfied consumer is a more confident consumer. Everybody wins when Quality once again becomes the center of focus.

February 4, 2009

In response to: So You're Saying There's a Chance?
Facts of Life commented:

I hear you Mr. Franke. How the public can contnue to wallow in this state of gloom and doom, is beyond my understanding. There are alot of positives in this economy and in our profession. Lets talk about those and focus on how we can be better.

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