Think Like a CEO | STARTUPS
One, I needed to increase the number of flatbed trailers in the area near the port in Connecticut where the goods would be shipped in. Two, there would be opportunities to provide storage space. But the third opportunity was the biggest, and it came from my question to the plant manager, “Where will you get your steel after the tariff takes effect?”
you get to wrestle with finding solutions to your customers’ problems, so you become an important part of their team. it’s more rewarding personally and financially Now this is the kind of situation where I really enjoy my work, and even more when pencil and paper are handy. The manager started to list all the steel plants in the US that would increase production. I needed that information so I could be sure to have equipment available in those areas. I also needed to know who would be in charge
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of ordering that steel, and would need to have the product transported. It was like Christmas in July. There was huge demand for steel transportation from plants that had been on reduced production and suddenly there was demand for their product. It got even more Christmas-like after I called my stockbroker to ask what would happen to the share price of steel companies – and it was like a Manny Ramerez home run as those share prices doubled and even tripled. It all came from understanding the details – the tariff and its effect on production at US steel plants – to see how this would play out in terms of demand for steel-carrying equipment (and stock prices).
Bridge-Building Steps: ONE Take the time to understand your customer’s business. Part of that comes from “secondary” research like reading
trade magazines and industry-related websites, and setting your Internet browser so you’ll receive news about the company and industry. Keep learning about the newest business trends that are affecting your customers. TWO Do “primary” research too – that means asking your customer the right questions and being observant when you call on a customer. If they recognize that you want to learn so that you can meet their needs better and faster, they’ll be only too glad to help you. People love to talk about their work and their business, so give them opportunity to do so over breakfast, lunch, dinner or just meeting in their office. THREE Apply what you learn. Always seek out ways to help your customers increase profits or avoid a loss. Get beyond being only an “order-taker” and transform yourself into a truly valued partner. That way, you’ll be able to hang on to that business for years to come.
Steve Gareau Bridge Series Books | www.bridgeseriesbooks.com
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