Do you believe that the dip in
demand for flooring is merely a function of a sputtering economy? Are you among
those who are convinced that everything will be fine once the lousy housing market
rebounds? If so, you are missing the big picture. Having had the opportunity to
attend a number of industry get-togethers, conferences and socials events in
recent months, I feel I can sum up the mindset that will serve you well in
these times of challenge. Again and again the buzz I’m hearing is that today’s
retailer needs a strategy that is best captured by three words: Smart, tough
and aggressive. (Patient, you’ll notice, is not among them.)
In
various forms it is the strategy advanced each month by NFT’s retail experts,
Warren Tyler and Sam Allman. In fact, in this issue both columnists urge
dealers to explore avenues they may have neglected. For his part, Warren
discusses retail groups and makes a case that’s hard to refute. If you position
your business as a valuable resource that helps people achieve the home of
their dreams, aligning yourself with the right group can only enhance that
position. Warren, one of the most upbeat people I have ever met, once again
reminds us that it’s all about attitude.
Sam, also
always highly affable, offers an eye-opening way to gauge the performance of
your sales staff. He encourages you to look beyond the number of sales
finalized and calculate such oft-neglected areas as customer referrals,
conversion rates and sales of ancillary products. How about scheduling regular
meetings with your staff to access progress in each of the eight areas on Sam’s
list? The process is not designed to browbeat or intimidate your sales people.
On the contrary, it’s an exercise that encourages them to look elsewhere to
find the sales they have been missing in recent months. Do it with fairness and
empathy and they will thank you.
What I
keep hearing from our columnists and other industry experts is that a smart,
tough and aggressive mindset will let you control your destiny instead of
waiting for blue skies. Let’s look at how these attributes can apply:
Smart.The Chinese proverb says it best: “If we do not change our direction, we are
likely to end up where we are headed.” That means being smart enough to know if
you’re on the right path-and if you are not, at least change lanes. This is why
benchmarking has suddenly become a huge industry buzzword. It lets you compare
your balance sheet with that of a comparable operation. The World Floor
Covering Association, among others, is preparing such a report. The WFCA
assures confidentiality and will provide those who participate with the
complete findings for no charge.
Tough.You don’t find many prima donnas in flooring. Many in our business have logged
decades of backbreaking work. Even the people at the top have their sleeves
rolled up each day. But the toughness needed now is the backbone to make
difficult decisions. You may have to stay open later and increase your ad
budget even though cash flow is off. You’ll probably need to make some
difficult personnel decisions and maybe do some things your father never did
when he ran the store (a computer class maybe?). If it sounds like too much
effort, than just think of that other old saying about what tough people do
when the going gets tough.
Aggressive. Is anyone from your organization going to
the NeoCon show in Chicago this month? This, after all, is the premier show for
commercial flooring. If you are going after more Main Street business shouldn’t
you be there? If there is a For Rent sign in a storefront near you; have you
called the number and asked if the space is in need of new flooring? Do you
have your people looking through the files and inviting back customers from a few
years ago? Do you bring a stack of business cards to the local Chamber of
Commerce meeting? (Please don’t tell me you’re not a member.)
It is all about developing a mindset that let’s you proceed
even if others around you struggle. This is what I have learned from attending
meetings with the heavy hitters in our business. Over and over I hear the
pitch, and it boils down to three words that should characterize your operation
these days: Smart, tough and aggressive.
Smart, Tough & Aggressive
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