do
this...don’t do that Exploring Diversification WORDS BY SOLOMON DANIELS
DO something that makes sense. If your diversification plans include a new product or service, make sure it matches in some way with what you already do. This can be based on one of three things: your in-house expertise, your customer base, or your prod- uct categories. The short version: If you plan on creating “Joe’s Car Stereo and Tax Service,” it probably won’t fly. DON’T get into something you know nothing about. Years ago our industry caught on to the performance craze and everybody started buying mufflers, shift knobs and body kits, only to realize there were too many SKUs to carry to fit every application, the parts required were available anywhere, and, oh yeah: there were auto customizers who had been specializing in this stuff for years. Someone in your store needs to understand the product, industry and current market conditions before you spend a dime. DO get input from your customers. If you plan on diversifying to
take advantage of an affluent customer base, ask them what they would look for from you if you were to expand into another benefi- cial service for them. More than likely you’ll hear everything that’s wrong with their current servicer, and you can use that information to put together a fulfilling product / service offering. DON’T keep the news to yourself. A move this big needs everyone’s buy-in, so tell your staff and get them involved as much as possible. Studies show that if you offer someone the opportunity to submit opinions and ideas on a project—even if they decline to participate—they are more likely to be on board with what you do. So make it a “family” affair!
the best stuff for …Climate Control
JohnDow WindStorm Fan
WWW.JOHNDOW.COM
…Storing Tools
Waterloo 52-in. Cabinet and Chest Combo
WWW.WATERLOOINDUSTRIES.COM
The Waterloo 52-inch Happy workers lead to a successfully run business.
One way to keep workers happy throughout the day is to keep them comfortable. Whether your city under- goes tough winters or sweltering summers, JohnDow has the energy-efficient Windstorm Fan line for varying climates. Ranging from 8 to 20 feet, Windstorm Fans cool the shop in the summer while warming it up in the winter. The fans are available in black, yellow, blue, red, green and white. They can be set to different speeds and can reduce heating and cooling costs.
Professional Series cabi- net and chest combo is for professionals looking for an all-in-one jumbo-sized toolbox. The combo has 19 rubber-lined drawers and ball-bearing slides that can support up to 75 pounds each. The 47¼-inch top drawer is four inches deep. The cabinet and chest come with a 10-year warranty. It can easily be wheeled around on large 5x2-inch casters and has sidewall-post construction that can support up to 1,100 pounds. Additional features include an inter- nal locking system for added security and Waterloo’s patented Posi-Latch system, which requires a subtle lift of the handle to open the drawer. The cabinet and chest combo is available for $2,669.95.
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