Growing in a Shrinking Economy
My second sales job had a strong focus on creating and maintaining relationships via the trade show circuit. As the economy turned south, so did the size of the pie for the companies who supply the marketing displays for the trade show industry. This hit home recently after a family friend in the trade show supply business saw the booming national company that she worked for recede, finally to the point of shutting their doors.
Today I read the business section of the Rochester, NY newspaper and the company they highlighted intrigued me (http://www.democratandchronicle.com/apps/pbcs.dll/article?AID=/20070604/BUSINESS/706040314/1001). The title of the article is, "Trade show company flourishes by investing in 'human capital.'" They interviewed Donna M. Shultz, president of Mirror Show Management about their success. Her advice is this: "Human capital matters. Companies with the vision to invest in their human capital are companies that flourish."
Even in a shrinking industry, MSM still finds ways to focus on the passion of their people. Shultz said, "MSM's devotion to client service affords us continuing growth opportunities." So a devotion to client service is MSM's key to growth. The big question to ask is, how do you devote your company to client service?
The answer is by devoting yourself to your people. Motivated people with the proper training and tools will give your clients above and beyond what they need. And those clients will stay clients and tell potential clients about the great service your company provides.
In thinking about a shrinking industry, realize good customer service lives beyond the walls of that customer. In a reducing sector many people will get downsized. If these downsized people like the services you provided for them, chances are good they will call you when they land on their feet at a new company.
MSM shows that even if you are in an industry that is shrinking, if you have the vision to invest in your people, those same people will take care of your customers, who will in turn take care of you.
Today I read the business section of the Rochester, NY newspaper and the company they highlighted intrigued me (http://www.democratandchronicle.com/apps/pbcs.dll/article?AID=/20070604/BUSINESS/706040314/1001). The title of the article is, "Trade show company flourishes by investing in 'human capital.'" They interviewed Donna M. Shultz, president of Mirror Show Management about their success. Her advice is this: "Human capital matters. Companies with the vision to invest in their human capital are companies that flourish."
Even in a shrinking industry, MSM still finds ways to focus on the passion of their people. Shultz said, "MSM's devotion to client service affords us continuing growth opportunities." So a devotion to client service is MSM's key to growth. The big question to ask is, how do you devote your company to client service?
The answer is by devoting yourself to your people. Motivated people with the proper training and tools will give your clients above and beyond what they need. And those clients will stay clients and tell potential clients about the great service your company provides.
In thinking about a shrinking industry, realize good customer service lives beyond the walls of that customer. In a reducing sector many people will get downsized. If these downsized people like the services you provided for them, chances are good they will call you when they land on their feet at a new company.
MSM shows that even if you are in an industry that is shrinking, if you have the vision to invest in your people, those same people will take care of your customers, who will in turn take care of you.
posted by Andrew Harrison at
11:35 AM
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