Find below a fun, insightful and right-on body of advice from Bill Wade. Bill is a career consultant, operator and writer for (most narrowly) the heavy-duty-truck parts and automotive parts channels. Known him for years. (Personal bias alert.) He is an excellent value-added editor of my stuff and others.
We are all in for tough times, but your competitors will really suffer if not disappear, IF you execute on Bill’s advice.
Continue reading 195. ‘New Normal’ Is a Complete Fantasy
Too Many Players for a Collapsing Demand?
Imagine being a distributor in Houston today serving the oil & gas frackers. Boom! Demand collapse!
A less-severe, boom-bust scenario happened in Houston from ’71 to ’85. Oil prices per barrel inflation-adjusted for today: $22.94 in ‘71. Peaked at $117.30 in ‘80. Then, bottomed at $33.97 in ’86.
Continue reading 186. C-19 Competitor Consolidations?
Tough Times’ Tactics
Since WW2, when the economy tanked, the drill was: freeze hiring, maybe weed a few. Freeze all investments. Cut all discretionary expenses. Try not to cave on declining incentive pay that is de facto salary. Wait out the recession, then get back to growing with: the US Economy; your industry; and/or the inflation in your product lines.
Continue reading 185. Downsize (Upgrade and Reinvent) Tactics for Distributors
Turning Disaster into Some Opportunity
The unprecedented, C-19, shut-down economy is here. Minimize downside hits, while maximizing upside opportunities! How exactly? Here are some moves that distributors have shared with me:
Continue reading 184. C-19, Distribution, Improvisation Measures
In a virtual meeting, a B2B millennial (call him Joe) took over the screen and masterfully showed me (with pride) how he avoided both a repair contractor’s fee and a distributor’s high price.
Continue reading 183. A Millennial Fleeces Both Contractor & Distributor: Lessons?