I came across a Facebook post recently with a quote attributed to famed race car driver Mario Andretti, who quipped, “If everything seems under control, you’re not going fast enough.” It made me pause and think about the situation in the musical instrument and pro audio markets today, along with how various constituents in our industry are dealing with continued turbulence. … [Read more...]
Relationships Still Matter, But Becoming a “Trusted Advisor” is the Ultimate Goal
The past few years have had our collective heads spinning - navigating an unprecedented pandemic, dealing with supply chain issues the likes of which we’ve never seen before, and trying to make sense of the real economic outlook for the musical instrument and professional audio trade. But through all this turmoil, one thing stands out in my mind, and that is the power of … [Read more...]
Making Sense of the Musical Instrument and Pro Audio Business in 2023
In the past couple of weeks, I have engaged numerous suppliers and other industry professionals in a conversation about what this New Year brings us. The most thoughtful among them agree that the current dynamics must improve before we see anything remotely resembling “normalcy,” or what we thought was typical in B.C. (before COVID). Many vendors are looking at 2019 numbers as … [Read more...]
The Year in Review – A Roller Coaster Ride in the Musical Instrument Trade
To say that this year has been tumultuous would be quite an understatement. We started 2022 with many manufacturers still struggling to get product into the country, especially fretted instruments. The cost of shipping a container had skyrocketed throughout the pandemic, and the Port of Los Angeles and Long Beach had seemingly endless backups. Finding inland transport was also … [Read more...]
A Lifetime of Memories in the Musical Instrument Trade
Our family reached a milestone this past month, making the difficult decision to downsize to a smaller home. The kids are all grown, grandchildren have arrived, and after 25 years the enormity of the property we have lived at finally led us to this moment of mixed emotions. A bit stressful as well, with machinations in the mortgage markets causing heartburn, and the sheer task … [Read more...]
Finding Buoyancy in a Sea of Inventory
It wasn’t long ago that the supply of musical instruments, especially acoustic and electric guitars, was seemingly non-existent. COVID had driven everyone indoors and many turned to music, making the best use of the time spent quarantined. This extended to home recording equipment, and anything to do with setting up a live streaming event on Facebook. Meanwhile, the factories … [Read more...]
Differentiating Through High Quality Service Levels
At one time or another, we have all been disappointed by the service received from people or organizations we do business with. Whether it’s poor communication, discourteous or outright rude behavior, or just plain unsatisfactory work or results, we base future decisions in no small part on these experiences. At a call center “service levels” are metrics that measure wait time, … [Read more...]
The Many Modes of Effective Sales Communication
Growing up in the musical instrument and pro audio business, the primary modes of interaction were telephone and in-person communication. In the early 1980’s, working at a busy retail store in suburban Philadelphia meant using the phone to “reel someone in” so I might have the opportunity to demonstrate keyboards or sell live sound equipment. I can recall assurances made to … [Read more...]
Counterintuitive Selling Strategies for Musical Instrument Retail
When markets become turbulent and unit sales dry up for any number of reasons, a somewhat natural reaction is to hunker down and be extra cautious about expenditures. While this sounds logical at first glance, it may not be the best course of action. Often when writing these blog posts, I am transported back in time to moments in my career where similar dynamics have occurred, … [Read more...]
Summertime in the Musical Instrument and Pro Audio Trade
When famed pianist and composer George Gershwin wrote “Summertime”, I’m certain he was not referring to life in the music products industry. After a two-year hiatus due to the pandemic, a more typical mid-year period is upon us, amplified in a negative way by the current economic environment. The living was relatively easy for the past couple of summer seasons, outside of the … [Read more...]