For the last decade I have been writing about, reporting on, and interviewing company executives about what has made their businesses work better, made their organizations more successful, and helped them attract quality individuals.
I’ve questioned them on what it takes to keep them focused and moving toward professional and personal goals.
Sometimes the answers were surprising. For example, Dial Corp.’s Herbert Baum once told me that a CEO should never be in command for more than five years. His reasoning? Business goals go out of focus and innovation starts to fade. True to his theory, he stepped down as CEO after five years of service.
Other times the answers were funny. Dave Oreck, the vacuum cleaner guy, had no problem letting me know what was wrong with his competition. During the interview he was not shy about spewing expletives many of them aimed at James Dyson, the other vacuum cleaner guy.
He also was equally candid about his celebrity status.
When I asked him if being the face of his company stymied his ability to do everyday things, he told me it was sometimes difficult to get a hotel room for a nooner. Certainly a joke on Dave’s part, but if put in practice I am sure it would be true.
In the pages of IndustryWeek, which is a business trade magazine targeted toward executives at manufacturing companies, I covered how big guns such as Dial Corp., Exxon Mobil, General Electric and Oreck stay the course. I’ve also gone in depth to discover how smaller companies such as American Leather and Blue Ridge Paper have implemented best practices to thrive in an extremely competitive economy.
When it comes down to it, companies big and small implement the same best practices in business. All companies are always looking for the right employees, the right marketing techniques, the most cost-effective way to do their jobs, and the right way to increase profits while lowering expenses. In many ways, manufacturing firms are no different from hvacr businesses.
For the last several years I was the director of three flagship database projects that were created by IndustryWeek. The IW 1000, which scoured the globe for the top 1,000 manufacturing companies; the IW U.S. 500, which named the top 500 manufacturing companies in the United States; and the IW 50, which culled 50 of the best and brightest manufacturing companies.
Notice I didn’t say biggest, best, and brightest. Several companies that make the list aren’t the largest in their industry. For many, their smaller size has enabled them to be more innovative, more nimble, and more focused than their larger peers.
Sure there is the constant struggle with growing pains, but without pain there is no gain. Necessity is the mother of invention, just ask any business owner.
In fact, HVACR Business’ brain trust Ron Smith, Jackie Rainwater, Ruth King, Jim McDermott, and Guy Kawasaki are privy to what it takes to own and run businesses. And they are witness to the struggles that lead to success.
They have spent years perfecting the art of ownership, and in speaking with them I am certain their experience will aid you on your path to excellence.
Couple my experience unearthing wisdom and their experience living the entrepreneurial existence and I think we make a pretty good team. A team whose goal is to help you run your businesses as successfully as you can.
Indeed, Part 2 of Ron Smith’s Service Agreement series Avoiding False Starts, Page 18 offers readers actionable steps to launch their own successful service-agreement programs. His insight into making these programs work is an invaluable tool for any contractor.
Also in this issue, Ruth King offers advice on how to spread end-of-year generosity without taking your eyes off of your financial goals.
Maneuvering Holiday Cash Mistakes, Page 12, provides concrete tips on customer appreciation and employee profit sharing.
Also in this issue, columnist Tom Piscitelli, who has been successfully selling to the hvacr market for more than 30 years, asks readers to listen to customers and find what is at the heart of selling in his column on Page 40.
“Offer your support without obligation. Be there to help all customers, whether they buy or not. If that is your attitude, they will ‘hear’ it, and it will make you more attractive to them.”
With mentors like this on your side, you have all the tools to grow and prosper.
Your craft and talent has brought you this far, now it’s time to refine the business.
Here’s to lessons learned.