from the experts
people working on that product. “Unless you can relocate them to another product or service, you might have to lay them off. However, if you see a product where it’s selling you might want to hire. There’s always a balance,” he added. Simonetti also warned that businesses
that grow quickly in a short period of time have to be careful with hiring or they might suddenly find themselves overstaffed and laying off employees. Finding a team of experts is the best solu- tion, to avoid having employees that don’t enjoy their work and are expendable. This goes back to the metaphor of a company being a football team and needing skilled individuals in the right positions to be successful.
“If you are a scientist and you know how to make lasers, surround yourself with people who know how to do the other stuff, such as budgeting and sales strategy,” Simonetti said. “Surround yourself with experts in other areas. Sometimes, people don’t do that or try to do everything themselves. You might be a great scientist, but you are incompetent at sales.” Simonetti also stressed the importance
of having ample funds to start or run a business. “Most companies fail because they don’t have the money to put in,” he said. “Assume it’s going to cost more than you think. But, a good accountant can help with that.” Who or what is setting local, state or
federal regulations could affect a small business. If a new regulation or law changes the cost or the way a product is manufactured, or a safety recall affects a popular product line, businesses have to determine how profits may be affected.
Mother Nature Has A Say “Any type of seasonal product has that
extra level of risk,” said Simonetti. Take his example of the oil business, for which home heating during the colder months is vital. But what if unusually warm win- ter occurs in January? What then? The company stands to lose vital revenue. While the 12-volt industry might not
have much to do with oil, there are cer- tain products that see an increase in sales during certain months, such as remote starts during late fall and winter in the cold weather states. Also, winter affects the driving behav- iors of potential customers.
US Acoustics
Barbara Ann 100 Watts RMS X4
Secretaudio SST Control Hidden Audio From The Palm Of Your Hand
Secretaudio SST Control Hidden Audio From The Palm Of Your Hand
Market Trending It’s important to always keep your fin-
gers on the pulse of the industry and pay attention to the latest market releases, according to Simonetti. “Let’s say I’m using a certain cell phone when Apple comes out with a new one that makes it obsolete. Overnight, innovation and technology can change everything,” Simonetti said. Anticipating what new products will
impact sales or new technology that will improve the way service-driven business- es go about performing their work helps determine future sales. However, there is always the risk that a new product or technology will come with defects or not live up to the buzz it generated prior to going on sale. “There are all kinds of forecasting
tools,” Simonetti said. “There are specific programs for that and research programs to facilitate that process and collect product and regulatory data. The more intelligent you are about using those so- phisticated tools the more accurate your projections will be.” In the end, it all comes down to per- sonal choice or what feels more intuitive, depending on whether a business owner
Quality Reliability Mike 1500 Watts RMS X1 2 Year Warranty
Send Dealer Inquiries to US AcousticsCa
355 N Lantana St. Suite 830 Camarillo, CA 93010 805-402-3857
e-mail:
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54 Mobile Electronics January 2014
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A Perfect Duet
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