Ohio Sports … Lessons to be Learned

So … as a lifetime Ohio sports fan, it has been a tough year. The Browns are rebuilding again, LeBron took his talents elsewhere, and now Ohio State football is in shambles. What can we take away for our businesses and our own character?

OK, OK, I am used to it … the kidding about the long drought of championships in Cleveland. The Drive, The Fumble … the Decision … locals are so used to being beat up, we feel like Jake LaMotta in Raging Bull. It is kind of like a group depression. The pain, the disappointment, the endless and hopeless optimism. They define the life of any Northern Ohio sports fan.

The games and personalities have taken a decidedly dark tone in the last few months. LeBron’s arrogance is indicative of today’s spoiled athletes. Jim Tressel (Ohio State’s former football coach) led us to believe that he was above the temptations to skirt the rules. His fall from grace has hit hard in Buckeye Nation.

These examples can teach us some lessons for business. Taking shortcuts around hard work and integrity is very common. Everyone seems to want to get the results without the effort. The pressure that today’s athletes and coaches feel is similar to what business owners feel. Investors, bankers, customers, and vendors can be WAY more demanding than a casual fan munching on a hot dog. The “game” of business impacts lives and people in a much more direct way than results on the court or field of play.

All of us have felt the pressures recently. All of us have cut back on expenses and people. All of us have to keep grinding away. Most of us are doing it the right way. Some are cutting corners on jobs, playing games with labor and materials, and manipulating schedules. Don’t be one of the corner cutters - you will pay sooner or later.

The rewards for doing it right can be huge. Just look at the Cleveland Indians. They have one of the lowest payrolls in baseball, but have the best record in the Majors. All of this without Charlie Sheen (fans of the movie Major League will get it). They built this team by grooming young talent, setting aside egos and working together. Sound like any glazing operation you know? If not, you might need a new game plan.

Predicting The Future During Tough Market Conditions

As many of us have been battered about by the market, we know all too well the demands and pitfalls of recession – falling margins, layoffs, financial concerns, collection challenges, and on and on and on. So, when is the right time to fire back up the growth engine?

The swings of economic cycles are a mystery. As the saying goes “if I could predict the market, I would be on a yacht in the Caribbean." Of course, I can’t, and either can you or all the talking heads on CNBC, MSNBC, etc. Another expression is that “people buy on greed and sell on fear." Now is the time to take on that fear.

The signs are pointing toward recovery. So, what are you doing to get ready to thrive? You still hunkered down ready to do all the same old things again? Good luck! You better get used to the new normal – tight margins, sketchy labor supply/quality, demanding schedules and more headaches.

I suggest that now is the time to pursue aggressively different ways to attack the market. Find new products to sell, new customer niches, new sales tactics, dust off old prospects and call, and rethink every portion of your operation. Have you evaluated your suppliers? Analyzed your employees to be sure they are ready to perform? Improved your estimating accuracy? Looked for partners?

Just don’t expect things to go back to the “good old days.” Those days are long gone. However, good days are soon coming. You just need to be better, faster and more competitive than before. Only you can know what works best for your business – just do something.

Next blog, I will share some of the things we are doing at FabTech to be ready. I welcome your comments.

The Regional Trade Show – A Dying Breed?

Last week FabTech exhibited at the Mid Atlantic Glass Expo. We had a fantastic show. We met many good people and companies. We got solid leads for our services. I also heard that TEXpo was well attended. So, why aren’t there more of this type show around the country?

The regional show/seminar/meeting used to be a regular staple of many state and regional glass associations. It was a time to visit with old friends, suppliers, and customers. Unlike the big national shows, you had time to actually engage in long and meaningful conversations. Usually very social events, everyone seemed to have a good time as well.

So, why are the shows a dying breed? I think many of the forces that impact the viability of state associations are also at work here.

The first factor is the pace of modern living. The poor economy, increasing demands on all businesses and managers, two income households and other factors are all making our lives more demanding.

In addition, I believe many of us don’t want to take the time to be involved in associations or see enough value to commit our time and energy. It takes involved people to make an association go. The Mid Atlantic Glass Association has those folks in spades. There were more than 700 people there last week. That doesn’t happen by accident. The staff and volunteers make it happen.

So, think about your involvement in your local or state glass association. Think about what NGA, GANA, AAMA, and other groups do for our industry. (Full disclosure here for me - I am part of the architectural glazing committee of the NGA so I am a “fan” of association involvement).

Get involved. Attend the events. Join a committee. Heck, even attend a golf outing. You won’t be sorry and might even find some new business and/or some new friends.

Like many things in life, you get out what you put in.

If you want to do something today, visit the following links for an association in your area. NGA, GANA, AAMA or USGlass Magazine event schedule.

Quarter End Thoughts

As the first quarter of 2010 comes to a close, we all face a chance to take stock. Where are we now versus January versus last year versus last week?

I am constantly amazed at the differences in people’s perception of time in this industry. Try this experiment – ask 5 different people “how has business been” or “how does it look going forward?” The answers will inevitably contain a wide variety of time frames. Some will reference last year, some last month, some last week. Time horizon is very personal.

Like many business owners, I find planning and strategy to be the most important thing I do – when I take the time to do it. The everyday demands always seem to find a way to demand my time. The next truckload, the next phone call, the next quote are selfish taskmasters. They will take all your time if you let them. As Steven Covey said, try to focus on the things that are essential to your long term success and not get caught up in the everyday. His term is “important but not urgent.”

It is easier said than done. Especially in today’s tough environment, nobody can afford to ignore that customer call, that quote opportunity, that problem. So how do we step back? Here is one idea about finding a balance between PLANNING, MANAGING, AND DOING.

Good stuff – if you have the time….

Enjoy the improving weather and (hopefully) improving business conditions for all.

The Time is Right to Change the Game

As the ancient proverb says “it is darkest before the dawn.” Right now, the commercial glazing market sure looks bleak. However, don’t miss the chance to evaluate new ideas and markets. Who knows, you might just head out to a new profitable tomorrow morning …

At FabTech, we are grinding away like everyone else in the tough marketplace. We are seeing crazy low bids, Chapter 11 filings, insane banking decisions and delayed projects. Like all of you, we have cut back some resources and spending. We are doing all the proper blocking and tackling to handle a downturn. But, don’t make the usual classic recession mistakes.

In the last few weeks, we made a decision to put a tremendous amount of energy into evaluating game-changing initiatives. There are several FANTASTIC long-term opportunities that will change the future of our business forever.

It is scary. It is unnerving. It is stressful. However, it is very energizing to channel your efforts into areas that will position your company for long-term differentiation.

Think about it – there is no better time to look at what holds you back. No better time to see the holes in the market that need some entrepreneur to take the plunge. You have a workforce that is very motivated to try anything to keep the work flowing. They are more open to new ideas and new ways to do things. These ideas don’t have to be expensive – just innovative.

Of course, I will not share exact strategies that we are evaluating. You need to get your own game-changing “aha moment.” You will know when you find it because you have been thinking about it in the back of your mind all along. That racing heart rate is excitement. It is why we all got in the game in the first place. Embrace it and try it. Get in the new game!

New Year, New Decade, New Ideas

As we get started on 2010, it is a good time to look back and to look forward.

Can you believe we are 20 full years past Y2K? Do you remember where you were on the evening of December 31, 1999? I do. My wife and I were at home with two young boys - six and four years old. We fooled them with a “fake” New Year at 9:30 pm so they could get a good night sleep. Our oldest is now driving and we have four total children. How fast times move.

The last decade brought us a lot of new things – the iPod, hanging chads, texting, September 11th, reality TV, Katrina, GM bankruptcy, LeBron and Bernie Madoff. Here is an interesting timeline of U.S. events over the last decade. This one is for the sports fan.

So, what have you learned in your business? I have learned much more about many things – private equity, curtainwall, acquisition financing, customer service mistakes and triumphs, draw bill cash flow, lawyers, speed kills, change orders, profit sharing, China and many other things.

What has remained the same? Customer service is key, quality is an assumed, speed is demanded, owning a problem and communicating right away is the only way to handle mistakes, people are generally fair, profit must be the focus, good people are what drive profit, and it is always tough to make time for long term thinking. And, my biggest lesson – trying to balance work and family.

Anybody who wants to share their lessons/triumphs/challenges/funny stories from the last 10 years please post a comment for us.

I wish everyone a good New Year, a good New Decade, and a good New Energy to attack the market.

Hey, if the Cleveland Browns can win 4 in a row, anything is possible! Have a good one.

Time For Thanks

After two years in the commercial glazing industry, I have a lot of reasons to give thanks… Thank you to:

• My wife Jean and family for putting up with my long hours and elevated stress levels.
  
• All the Associates at FabTech. Without you, there is no business.
  
• Our customers – both long-term and new. I appreciate the patience and understanding you have shown as we strive to improve our operations and communications every day.
  
• My business partners who know the balance of being supportive and letting us do what we think is right for the business and customers.
  
• The Associations that speak for us – GANA, NGA, and AAMA. They all have a role in ensuring our future and protecting us against “well meaning” politicians and lobbyists.
  
• Supplier and other partners. I have found a shared motivation to serve the customer among our main vendor partners. It certainly helps to solve the inevitable crises.

Last, but not least, I want to give a huge thanks to our troops. Especially during the Holiday times, please keep them in mind as they work every day to keep us free.

Enjoy the turkey and football. As a Notre Dame and Cleveland Browns fan, I will try to watch without getting indigestion. Here is an old but good football video to enjoy over the long weekend.