Posted On: October 25, 2022
As business returns to normal, and it will, one thing we’ve all learned is that anything can happen. Those with well-established business strategies weathered this storm better than others. As we enter the other side, are you preparing your business and culture to capture and keep the new customers?
At every step in the HVAC channel, we found ourselves improving agility and finding new solutions throughout the pandemic. One impact you saw was new customers at your door. Distributors with a solid business strategy will have more success at retaining these new dealers. Distributors treating this as business as usual, may not. Don’t be the cork in the ocean bobbing and moving with each pitch and roll in the ocean. Be anchored and stable and apply new strategies that keep these new customers coming to you.
Here are five key steps in strategic management of the new normal:
Step 1: Plan. Plan. Plan.
Step 2: Know your strengths to play up on and weaknesses to build out solutions to solve for them.
Step 3: Define your efficiencies and means to maximize on them. Don’t be shy about bragging to your new dealers where you’re strongest.
Step 4: Put controls in place that you monitor weekly. Adapt when necessary. If we’ve learned anything these two years, it’s that losing control is not a sound business strategy.
Step 5: Beat your competition. Having a plan and a clear path to serving these dealers gives you the advantage.
A business strategy outlines the actions and decisions you must plan to make to achieve the success we’ve seen throughout this pandemic. It will guide the decision-making process from hiring to value-added tools for your dealers. It will be the difference between those who thrive from those who survived.