Competition Is Good for Everyone
It’s always been my opinion that competition makes us all better. In the market we are in now you are going to see a lot of changes. Some of your competitors may downsize or go out of business, some will change how they go to market and the smart ones will take advantage and get stronger. If you see local competition shutting down or downsizing, rather than breathing a sigh of relief, or waiting for their customers to come to you, this is a good time to plan on how you can change your company to get stronger.
It will be a good time to reintroduce yourself in your market. Let your customers know that you have spent that last year not just surviving but making your business better. I have seen a lot of companies take the time to improve their showrooms, update business practices and better train their employees. There are lots of companies that have come up with new ideas and designs to make the workplace safer, showing their problem-solving skills and abilities to adapt their business. These are all great things to add to a brochure or email blast to your customers.
If you see your competitors are downsizing this can be a great time to pass the word that you are looking to hire. If you see companies outside of the glass industry going out of business, this is a good time to keep track of equipment sales or auctions where you can pick up equipment, vehicles or office furniture to upgrade or expand your business.
You may also see new competitors opening in your market, as a lot of displaced workers will look for new opportunities. Competition can be good for all. It makes us pay more attention to customers and not take them for granted. You want to train your salespeople not to talk about your competition. They need to stay focused on talking about your company and what they can do to add value to their customers. It has been my experience that competition can expand the market. One example is in the heavy shower door market. The more companies I have seen get into the market, the larger the market has grown. You have more people advertising showers, giving customers more access. As business continues to open, it will create many opportunities that successful companies will take advantage of.
And just a reminder, we need to keep our employees safe while staying optimistic. Here is a quote from a cautiously optimistic article I found:
“But at this late stage of the U.S. pandemic, Americans would be wise to stay calm and keep any coming plateaus, bumps or local outbreaks in perspective — as reminders of the hard work that still needs to be done on vaccination rather than harbingers of the next catastrophic wave of infection.
Put another way: America has almost certainly entered its final descent out of the pandemic. Some turbulence is to be expected. But the plane is going to land.”
Yahoo News by Andrew Romano
Great article, Paul. We have done exactly what you wrote about here and expect a banner year at MY Shower Door.
Thanks Bill, My Shower Door is always way out in front.