An ALLPRO® Publication VOL. 23, ISSUE 9 MAY / JUNE 2014
By: Scott Morath
Where to Go From Here You won’t hear it from politicians or pundits (at least not in a mid-term election year) and you probably won’t hear it espoused by business analysts for fear of speaking too soon. However, if you take a moment to look at the indicators, or at least the ones our industry measures, you may begin to recognize the signs of an economy that is stable and growing again. Reports from Kiplinger, the National Association of Home Builders, the US Census Bureau, and Dept. of Housing and Urban Development all speak of continued confidence and stability. Now, by stable and growing I don’t mean the kind of stable and growing our industry experienced during the housing boom. If you’re waiting for those days to return don’t hold your breath. We are stable and growing incrementally at a much more measured pace but it’s growth nonetheless. That incremental growth will, of course, be tempered by the opportunities that lie ahead. Meaning today’s post recession consumers are much more conscientious about spending money. They’re more apt to live within their means rather than make large purchases on credit or finance large home projects. Likewise, business owners in general are much leaner, operating with a greater focus on being efficient and also less willing to incur debt. In short, consumers aren’t willing to spend as much as they once were which means there’s not as much meat on the proverbial bone. And retailers are still just as hungry as ever but there’s less to go around, so the competition is particularly intense. That means you have to be smarter, work harder, and maximize resources even more so than before to continue to compete.
From a strategic standpoint that means taking a step back and looking at the big picture. What are your goals and do you have the assets or resources to achieve those goals? Do you have a plan in place? If so, do you need to adjust that plan? What are some things you could do differently to better position yourself? In this issue we try to offer up a few things to help spur new ideas or reconsider things you may have dismissed in the past. Matt Docherty of HERO Products has contributed a short article on how to assess your overall business and develop a roadmap for it. We also look at ALLPRO member The Color House. They’ve revamped their digital presence and are beginning to see the fruits of their efforts with increased website traffic and greater engagement with their customers. We re-introduce you to blogging and our initiative with ALLPRO member Hirshfield’s to facilitate an ALLPRO blog that members can use as a resource to build a larger online presence. In the Company Profiles section we introduce you to new supplier partners Epoxi-Tech, Jotun Paints, and Plutonium Paint. You probably saw each at the show but may not have been able to spend as much time as you would’ve liked learning about who they are. Each brings something different to the table that may provide you with a distinct opportunity in your market. In conclusion, I hope you’ll take the time to read through this issue and carefully consider the material presented. While there is no guaranteed formula for success, there are helpful ideas and success stories. Each may inspire and help you figure out where to go from here.