Business Intelligence for Custom Integrators
Tuesday Morning Coffee
Tuesday Morning Coffee
Welcome to the VITAL management Blog. We invite you to visit important topics, comment on postings and share your interest in our self improvemnt business model. Your particpation improves the results for all.
|Posted on June 18, 2015 at 3:10 PM||comments (390)|
Is There A Hidden Path To More Sales? And ... How Do I Find It?
The flow of business for most owners is communicated by their P&L: how much revenue has been realized in what timeframe. In the best-run companies, this equates to the value of actual production over that timeframe, ie, the value of goods delivered and services provided.
But there is additional insight to be gained by charting th...Read Full Post »
|Posted on June 3, 2015 at 12:55 AM||comments (22)|
What Kind of Advertising Does Your Brand Need?
[very little, in our opinion]
You don’t need to be wealthy to recognize the names of luxury brands like Rolex, Coach, and Ferrari. As a company, though, you would need to spend an extraordinary amount of money to make your brand so widely known.
Fortunately, CI’s don’t need their brand widely known. They...Read Full Post »
|Posted on June 3, 2015 at 12:55 AM||comments (339)|
Can Yours Be A Luxury Brand?
[Hint: It Should Be]
All CI companies live on their ability to grow sales via the network of people with whom they already have a relationship. This includes their past clients, friends and family, and any builders/architects/designers and other strategic partners in their “circle of awareness”. Rare is the CI whose name is well-known beyond the clients and partn...Read Full Post »
|Posted on June 3, 2015 at 12:50 AM||comments (21)|
What If the Industry Had Standards?
Some years ago, one of the presenting dealers at the CE Pro Top 100 Summit asked to talk with me. We sat down following his presentation and he confided, “It’s embarrassing to be up there talking like I’m some kind of whiz business manager. My business is a mess.” When I looked at his financials, I learned just what a mess it was.
...Read Full Post »
|Posted on June 2, 2015 at 1:05 PM||comments (8)|
In CI, How much should a sales person write?
And… What should s/he do besides sell?
Used to be that a salesperson writing $500K/year was pretty good, and a $1M salesperson was exceptional. But as the CI channel has grown, so have the numbers. In fact, recent data from the Bravas Group suggests that salespeople who write only $500K may carry prohibitive costs for their employers.... Read Full Post »
|Posted on June 2, 2015 at 1:00 PM||comments (25)|
How Does a National Network of CI Dealers become Real? And ... How Your Company Could Benefit.
To succeed as a national entity, a collaborative network of integration companies will need to address three requirements:
Read Full Post »
1) Consumer appeal & awareness
2) Operational excellence
|Posted on June 2, 2015 at 1:00 PM||comments (30)|
What If Your Brand Was In Multiple Markets?
It’s no mystery that integrators have had little success expanding out of their local markets. CI is a business where existing relationships drive over 90% of annual revenues. Typically, there are no (or few) established relationships in non-local markets. And there is no easy way to quickly and affordably create those relationships.
A more successful ap...Read Full Post »
|Posted on April 6, 2015 at 4:00 PM||comments (25)|
The Evolution of Custom – 30 Years Later, Still No Scale
by Steve Firszt, VITAL Mgmt
Part II - What Needs to Happen Next
In Part I, we concluded…
Absent a change to a more scalable CI model and the emergence of branded national distribution, most customers will have no known opti...Read Full Post »
|Posted on April 2, 2015 at 4:00 PM||comments (9)|
How Can I Better Manage Change in My Business?
Everyone gets comfortable with the status quo. After all, the easiest way to do things… is the way you already do things.
Change is hard. People resist change because it requires learning to do things differently. But without a change in how things are done, outcomes are unlikely to improve (see Albert Einstein, Insanity).
At VITAL we are helping companies change in two fundamen...Read Full Post »
|Posted on March 30, 2015 at 8:20 PM||comments (31)|
What Does It Cost To Do The Same Thing?
“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.” –Albert Einstein
Compounding (definition) refers to generating earnings from previous earnings.
...Read Full Post »