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Sources of assistance

A small business owner needs all the help he can get but there are many resourses available

By Mark Magstadt -- Industrial Distribution, 7/1/2002

What does it take for a small distributor to survive in today's business climate? For that matter, what does it take for any business to survive? Honestly, I don't think any one person knows, but a lot of people have good ideas. "In the multitude of counselors there is safety," said Solomon. To me, the key to survival is surrounding myself with credible counselors. There is one thing I know for sure that I need to survive — I need help!

One place I look for help is my employees — the Hub City crew. One person can't do everything or he will become a "Jack of all trades, but master of none." A business has the best chance for survival when each position is filled by a master, an expert. As that expert goes about his day-to-day duties, he will find better ways of doing those jobs, streamlining his work, or best yet, eliminating unnecessary tasks.

Whenever team members are empowered to do their jobs better, the result is a stronger unit. How do you find and keep this type of person? Five things are key. The first is keep looking until you find him. The second is lead by example. The third, a part of the second, is never have him do something you wouldn't do yourself. The fourth is always listen to his suggestions. No one knows more about the battles than those "in the trenches." And finally, the Golden Rule — treat him as you would like to be treated.

Another place I find help is from our vendors. They are a vital part of our business. I recognize them as businesses made up of individuals with strengths, weaknesses, limitations, and a need to make a profit. Honest communication is key to a healthy vendor-customer relationship. Sometimes there has to be a "loser" in a given situation, but the relationship can remain intact through open communication. Does the Golden Rule apply here, too?

Trade publications are also an excellent resource for help. What better way to obtain counsel than from a professional counselor? Magazines and newsletters, print and electronic, deliver insight and advice to the distributor at a sometimes overwhelming rate. Be sure to share this information with the team. It's quite arrogant for a manager to think he is the only one "strong" enough to receive this information. Isn't that really a sign of weakness in his business system? We need all the sources of wisdom and enlightenment we can get.

Another source for help is the Industrial Distribution Assn. This is not a commercial. I.D.A. simply offers the distributor resources to help strengthen his business through newsletters, financial reports displaying his strengths and weaknesses, conventions, a forum for networking, and sponsorship of countless opportunities for continued education.

These counselors, along with others such as customers, friends and family, can offer the industrial distributor direction as he tries to move forward in today's business climate. Some of this advice is right and some is wrong. But at Hub City, we listen to it all, and with help, we will survive.


Author Information
Mark Magstadt is president of Lake City, Fla.-based Hub City Industrial Supply, Inc.

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