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...]
Category: Strategic Planning
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...]
The Evolution of a Musical Instrument and Pro Audio Rep Firm
As we approach the mid-year mark, quarterly results and company progress are naturally on my mind. I am writing this post on Father’s Day, a quiet Sunday morning that like most inevitably starts with a hot cup of coffee and some time poring over sales forecasts and goals for the coming months. For a moment, my mind drifted back to this time in 2018, as my conversation with … [Read more...]
Improving Productivity Through Efficient Information Flow
With supply chain issues consuming much conversation of late, along with it comes a flurry of questions from consumers to dealers, dealers to sales reps, sales reps to manufacturers, and so on. In normal times having an efficient system in place to answer these inquiries is important, as the alternative squanders resources that could be better spent elsewhere, such as sales and … [Read more...]
Circle Gets the Square in Musical Instrument and Pro Audio Sales
Over the years, I have observed that sales occur in cycles, as do many things in our world. While I am not going full-out Lion King on you, there is some semblance of beauty in the “Circle of Sales”. To be most effective, a captive salesperson or rep firm must be planning for success with their vendor management team. You may call this method “Concentric Planning”, which starts … [Read more...]
A NAMM Show Like no Other…
The annual pilgrimage to Anaheim fell prey to COVID this year. For us on the east coast, the promise of balmy weather, a respite from winter and a generally invigorating event is just not in the cards. Instead, the industry is engaging in a variety of ways to communicate the important January messages concerning new products, programs, distribution changes and more. What’s … [Read more...]
Extracting Order from Chaos in Today’s World
I will be the first to admit it, my home office is in shambles, and requires a thorough cleaning. I cannot seem to keep up with the day-to-day activities that consume my time, and clearly have not given this task the attention it deserves. Dwelling on the topic, I have come to realize that the condition of my music studio and workspace is a metaphor for how the rest of my … [Read more...]
Making a sound investment during turbulent times…
Uncertainty drives markets crazy, along with their participants. When there is little sense of continuity in any area of business, personal, political, or professional life, the temptation is there to hold off on investing in a new venture. For some, the idea of plunging head-first into uncharted territory when the world is in turmoil may sound counterintuitive at the very … [Read more...]
Utilizing Data, Observation, and Experience in Decision Making
Many years ago, as a young district sales manager, I attended a sales meeting at the national headquarters of the company I worked for at the time. One of the executives held up a new guitar multi-effects pedal, and proclaimed “gentlemen, I just ordered thousands of these, and you’re going to sell them at $199.” A collective groan was heard from the assembled team, as the … [Read more...]
The Three R’s – Resilient, Resourceful and Relentless
Challenging times call for creative measures At the beginning of April, I must admit it appeared that everything was collapsing. Here in my home state of Pennsylvania, we had been on “lockdown” for about two weeks and our business, understandably, had slowed tremendously. The daily headlines and near-panic from some quarters was quite unnerving, and there seemed to be no … [Read more...]