Once there were two companies that were located on the same street and serviced the same market. Both installed new countertops and replaced old countertops. Both had access to the same products from the same vendors at the same volumes and prices. They both had the same number of employees and the same equipment. They both had the same number of trucks and office staff with equally skilled salesmen. However, Company A chose to sell and promote standard countertop laminates, because in their opinion the products were less expensive and easier to sell. Company B chose to embrace a more elegant and beautiful granite countertop, although it was much more expensive. Both companies installed the same amount of product by the end of the year. However, Company B made three times the profit of Company A.
Rather than trying to win every project and fight over half a penny in price, Company B chose to upsell their clients and provide better solutions to their situation. The customer had a need to build value in their home and wanted to make it more beautiful. Company B knew this was the case and found a way to introduce granite choices for his customers. Salesmen were taught what to look for and who to seek out for potential business. Company B’s customers were so happy they referred more customers to him, and soon his marketing budget was cut in half. He had more business than they could handle.
While both companies lived and worked in the same city and served the same marketplace, Company B made a choice to embrace a technology that could enable his company to thrive while Company A scraped by, barely able to eke out a living.
Business owners need to ask themselves the following questions: “Am I overlooking a technology that could help my company become more successful? If so what might that technology be? How can I educate myself and my employees to sell more of it to help my business become more profitable?”
What if a Company B glass business across the street embraces value-added products, such as dynamic glass or other advanced glass technologies, as a means to solve the customer’s problems, but you do not because you think it is too expensive? Where will the customers go?
The opinions expressed here are those of the individual author and do not necessarily reflect those of the National Glass Association, Glass Magazine editors, or other glassblog contributors.