It was 2007 when I accepted my first promotion to a director-level position at a prominent distributor of keyboards and amplifiers. I was a successful district sales manager for some years at this company and tended to the needs of two very large key accounts. But did that experience really prepare me to be promoted? In retrospect, I wonder where I would be today had I declined … [Read more...]
Category: Strategic Planning
Hot Fun in the Summertime
In the past couple of weeks, a record heat wave and series of floods, tornadoes and natural disasters have pummeled much of the country. The temperatures in many areas of the U.S. are punishing, especially for older folks, or those whose occupations require them to work outside. From a business perspective in the Musical Instrument and Professional Audio trade, we are going … [Read more...]
When Things are Slow, Go Faster
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...]
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...]
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...]
Is This a Company or a Rock Band?
In the past few weeks, I have interviewed candidates for an open position at my rep firm. Even after many years of hiring while working for others, I believe I am not a particularly good interviewer, at least in the traditional sense. This time, I Googled some standard questions, but inevitably got caught up in the moment and started telling stories about where we’ve been, and … [Read more...]
The “Human Supply Chain” in the Musical Instrument and Pro Audio Business
Much conversation of late centers around the physical supply chain, exemplified by container ships, trucking companies, raw materials, and delivery of products in general. The headaches in each of these areas appear to be compounding weekly in the trade, with unfortunate results for all concerned. Since many of these issues are out of our direct control, how about we as an … [Read more...]
Making Sense of Supply & Demand Imbalances in the Musical Instrument Trade
For the past several months, you haven’t been able to avoid the headlines. “Container ship stuck in the Suez Canal”, “Chip shortage worsens due to factory fire” or “China’s third largest port closed due to COVID lock-down.” Chances are, if you’re reading this blog the issues surrounding the supply chain have directly or indirectly affected your livelihood, complicated your … [Read more...]