Formula for success
Figure out what you do best, and then do more of it
By John F. Hackenberg -- Industrial Distribution, 9/1/1999
As an owner of a machine tool distributorship, I marvel at the metamorphosis that has occurred in our industry during the last decade. Machine tool distributors have been forced to abandon the traditional middle-man modus operandi for a more "total involvement" business framework. Stepping up to the plate with applications engineering, field and telephone service, turn-key capability, marketing, state-of-the-art business computer systems, improved facilities, psychological employee testing, and in-house team training are helping machine tool distributors manage their own destinies.We know we have to spend money in order to make money. Additionally, we truly believe the more we do for ourselves, the more capable we become at our jobs. We need to become so good at what we do that our suppliers cannot afford to look elsewhere for representation.
Certain principles of good business management will never change. Integrity, appreciation for employees, professionalism, eliminating risk for customers and hard work will always be the basic benchmarks for success. The J&H Machine Tools' company culture incorporates all of these components. However, we know that just being honest and working diligently will not always get us to the top of our game.
The entrepreneurial spirit is imbued with the desire to be successful. As salespeople, we want to get all of the available business, or at least most of it. We tend to view every customer requirement as a potential order for us. However, what is the cost of this effort? What is the expense of the battle? What is the real value of the victory?
General George Patton said of war, "God forgive me, but I love it so." Likewise, as salespeople, we are frequently enamored with the thrill of the hunt and the chance to capitalize on every selling opportunity. Since it appears that there are more products than there are capable companies to represent them, it is easy to see why our eyes are frequently larger than our stomachs. We obviously spread ourselves too thin because of the insatiable urge to sell something to everyone.
The question of "over-dosing" on product offerings reminds me of the mythological story about the Song of the Sirens. The Sirens were beautiful creatures whose seductive songs lured many sailors to destruction. Their beckonings were irresistible to all who heard them.
Many business opportunities can be compared to the Song of Sirens. It is incredibly easy to succumb to many of the sweet offers calling to us. How many times have distributors been seduced into believing that having more lines to sell would make them more profitable? At our company, we have disciplined ourselves to focus on our core competencies. This realization has not come to us fortuitously or quickly. It has taken us years to understand that we must frequently decline to represent certain product lines because they really do not fit in with what we do best.
As one who has frequently heard the Sirens, I now realize we cannot be all things to all customers. It is not necessary! Figure out what you do best, and then do more of it. I am confident it will simplify your business lives and generate more profit for your companies.
John F. Hackenberg is president of J & H Machine Tools, Inc., in Charlotte, N.C.
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