Random Thoughts

A Business Owners Perspective

By Sam Carlino, CW Wraps

When I decided to write this article, I pondered it for a bit and realized very quickly that I had never written an article! English and reading were never my best subjects in school. I hated sitting down and having to write a book report, or actually read a full book! (Which typically I never did). So now here I sit, having committed to writing this and honestly having no clue what to say or why I should even be the one to share any information! My 6th grade teacher always said I write like I talk, to which I responded, “Well, isn't that how we communicate?” To which he quickly corrected me. Unfortunately, I never got the hang of it. Sorry, Mr. Oleno! So hang on for my plethora of words!

One thing I know is that as a business owner, we have dozens of tabs open in our heads. I figured, why not discuss some of these tabs that consist of the daily tasks we business owners deal with, or have questions about when it comes to owning and operating a business successfully? In this article, I will attempt to share with you just my personal opinions and hopefully, it makes sense!

Within the wrap industry, and let's include signs, walls, windows and floor graphics, and even the tint and PPF guys. The industry, as a whole, has changed so dramatically over the last 20 years. This has required advancement and upgrades in new materials, which have started evolving, making it faster and easier for installs. We can get more done and go far beyond what we thought would be possible 20 years ago!

A majority of this growth can be attributed to ever-expanding social media platforms. This advancement has opened a doorway and allowed so many more wrap-curious people to join the industry. From small garage shops to massive corporate companies across the country, and even on a national scale. With social media and its ability to share what you do instantly with the masses, the growth is substantial. But with this growth and through the work of curious new people and their new ideas come new issues that many are not prepared for!

Currently, CW Wraps employs about 10 people. I have owned it since 2012 when I bought out my 2 partners. I also opened CW Signs and CW Upfitters & Accessories. Started a real estate group called Carlino Group Realty, and now my social media has become its own business as well! I have a hard-driving force in myself that my wife says is ADHD, maybe, not sure exactly what the cause is, but owning and running a business is a lifestyle. You have to have the ability to manage many things and keep your cool. Otherwise, it will consume you!

During my life, I have met many outstanding mentors who shared with me their personal life and business advice. It is critical to learn from these experiences, have the ability to absorb new knowledge, be open and receptive, and grow through your own experiences. This is what creates wisdom. Now I am not saying I am wise, I just have had hundreds of opportunities to fail. With each failure is the opportunity to learn from those failures and move forward. Now as perhaps a more "seasoned" owner of a wrap company, I see things on social media and speak with other business owners a lot. There seem to be some consistent issues that the majority of businesses have, including ours. So after all that gibberish, here is what I decided to touch on.

Expectations

Many owners do not set clear expectations. One of the best life lessons I have learned is having clear and set expectations or the understanding of someone else's expectations. Unmet expectations create disappointment and disappointment creates anger. This is a very clear and simple lesson, but it’s lost on so many! It works in every facet of your life, from relationships with family to customers. Set clear expectations with your team, so that everyone is on the same page, and if they know and understand, it will reduce your disappointment and frustration. Having multiple companies only has made this more clear. Setting proper expectations with my teams, teaching them to understand customers' expectations, and or setting them up with the customer is the first item on the list of things to do. It is literally on our worksheet write-up!

Customer Expectations

When a customer comes in with piein-the-sky expectations, we help set realistic expectations, therefore not setting us up for a customer who is disappointed or angry! Better to under-promise and over-deliver.

Mentorship

Our industry, which is perfectly shown by where this article is being read, WrapFam Unleashed, has a very tight community with a ton of amazing and extremely talented individuals. All of whom are very willing to educate and help others in our industry! Don't be afraid to ask for advice! No one has all the answers, and many times, a different point of view, outside of your normal perspective will shine a light on a topic that you may have overlooked. It's ok to have pride in your work, but don't let your pride stop you from being humble enough to ask for help when needed!

Customer Relationships

Lead and client management is crucial to any industry. With our industry being relatively newer, we have not seen the all-in-one amazing customer management, financials, and project tool as of yet… I believe. There are tools available, but perhaps in the near future, we will see one that really allows us to better manage our customers and our business. But, that being said, taking the time to create a system, even in paper form, that allows you to set expectations and gather information necessary to properly care for each and every client is priority one. Here at CW Wraps, I consistently remind my team that without our clients, we would be out of work! They pay for our homes, our groceries, and a little fun mixed in. Customers can be difficult at times, or downright nasty even… although extremely rare. But either way, they are necessary for the continuation of our livelihood. It's easy to lose sight of that at times when the frustration that is inevitable seeps into our outward expressions. Maintaining proper structure to your clients, and scheduling helps alleviate some of the pressures and frustration and allows us to treat our customers better, creating long-term relationships!

Social Media

I have to say this is a love-hate relationship! In today's society, having a business, I personally believe that social media is one of the best ways to advertise for little to no $ out of pocket! Wraps are the best in my opinion!! So what do you do with it, and how do you handle it? I have been fortunate enough to build a large following over the last decade, and it does pay dividends for my business. I have always used it as an online portfolio of our work for customers. Easy for them to see our work and reach out to us. Now with the ability to create income via social media through several channels, it's almost a must-have for someone in a business that produces a visual product! The downfalls are the keyboard warriors will absolutely come to visit your posts and nitpick at everything you do! With the majority having never laid a piece of vinyl or made a sign in their life, but they will be able to explain your lack of skill publicly for the world to see! Choose your posts wisely, and the words you use! If you get these types, I either respond or hide them. Negativity or whatever you want to call it is not necessary, it's a business page. Use it as such, and maintain it with frequency! Don't attempt to be the next Mr. Beast or whoever, just share your product, and your love for the business.

Finances

I won't dive deep into this, as it's an article in itself. In order to run a business successfully, you need to understand what a P&L sheet is. Understand your COGS and LABOR. Where do you purchase your materials, are they competitive, or are you getting hosed?

Decide what % is best for you to run your COGS or PAYROLL and OVERHEAD.

Owning a business in the end is about making money, period! We all, for the most part, love what we do, and the interactions we have. But at the end of the day, if you are not profitable, the demise is inevitable.

Wrapping Up

I wanted to share that as an owner of a company, there are 100 things you think about and no one understands what you have in your head! It can be frustrating, or amazing 5 seconds later! One day you are ahead of schedule and selling everything, the next you are ready to expand! I hope that touching on some of these topics for the new guys considering ownership, or the seasoned vets that have been there and done that! It’s a ton of work with amazing ups and downs. There is knowledge to be had if you ask for it. More money is to be made if you prioritize it.

Hopefully, this makes sense to a few of you, from a hillbilly in North Idaho! Thank you for your time!

Sam Carlino Owner, CW Wraps