Wouldn’t it be nice if there were how-to manuals out there for those in the kitchen and bath industry? Life would be great if you could type “how to run a successful K&B business” into your search engine and get the answers that you seek. Unfortunately, the secrets of the industry are known only to those who have put in the time and energy to grow their business to the point of profitability. There are however, ways to gain knowledge as you grow your business and try to avoid mistakes that have sidelined other dealerships, while implementing strategies that have vaulted some.
Even if your business is running smoothly, research other successful companies to see what strategies and offerings they’re using to get ahead. Obviously owners like to keep their secrets to success close to the vest, so if you can’t find out from them, get creative. Ask your manufacturers reps what some other people are doing to get ahead, and see if any of their strategies might work for your business.
Perhaps you can find a business a few states over that doesn’t consider you competition and might be willing to share a few tips with you. Many industry professionals will be happy to share an idea, complimentary product line, or a new installer compensation model that has propelled them forward.
Why would a they share trade secrets with you?
- People like recognition for their ideas and kitchen and bath professionals are no different. Some like to brag, and you should take advantage of that fact.
- The kitchen and bath industry is a close-knit group. Everyone involved in the industry knows how difficult it can be, and it’s simple human nature that makes a dealer want to help another dealer (provided they’re not direct competition).
- There is a certain sense of reciprocity between industry professionals. If someone shares an idea with you today, perhaps you’ll share a groundbreaking idea with them a year from now. The sharing of ideas in the industry is essential to the survival of many dealerships.
- The sense of a professional versus manufacturer dichotomy is ever-present, creating a bond with most professionals as they battle with the manufacturers for better pricing and higher-profits.
Don’t be afraid to seek out other kitchen and bath and remodeling businesses and ask for some advice and tips. What’s the worst thing that can happen? They might stonewall you and not give up any information, but you can rest assured that people like that will almost always run themselves out of business. They won’t have access to the ideas and ingenuity that some other businesses might have offered had they not been so stingy. What goes around comes around, so pick up the phone or go to a relevant Linked In group and post a question for others. You might be surprised what they’re willing to share. If you’d like more on how to streamline your operations, access your free eBook below.