by David Williams
Wow! What a great time it is to be in the wood flooring business.
Many of us have been in this business a long time. We have seen the good times and we have been through the bad times. I think I can speak for all of us when I say that we certainly prefer the good times.
Everyone is busy. Everyone has more work than we could possibly do and there is more out there if we want it. Good times for everyone!
So, let’s think about where we are, and possibly think about where we want to be. Right now is the most important time in our business life. If we can simply stop and think about where we really want to be in 5 years, it could have a huge impact on our future.
We miss opportunities for bigger and better things when we don’t take the time in the “good times” to figure out where we are going and make those changes. The good times are perfect for doing new things that can be game changers for our businesses.
“What changes are you talking about, DW?”
I am talking about looking at new things. This could be new products. I see companies every day decide to add new products to their offerings. This can expand the business and expand the profitability of the business in a big way. I know from experience that every time we add new products to Horizon Forest Products, we grow the business to the next level.
I am also talking about adding new services. What can you do to add offerings to your business? A few years ago, the lawn care company that does my home added services like mosquito spraying and pest control to their options of services. Yes, they still do lawn care but the owner of the business recently told me that they now make more money on these additional services than they do on lawn care. Wow! New business and new profit was certainly worth his investment of time to learn about these services.
Finally, how about upgrading the company? In times like these, we should be reinvesting in our company. Buy some new tools, upgrade a couple of those trucks, upgrade the look of your employees, do some marketing. All of it will pay off in the long run.
We have money to do these type of things right now. The good news is, if we make these investments now, we will be a better and more profitable company 5 years from now. Separate yourself from the pack. Upgrade your company and take it to the next level. It is the best time to do it!
David Williams, Vice President at Horizon Forest Products. To learn more about Horizon Forest Products, visit HorizonForest.com.