The Tragedy of the Business Commons
A widely known term, at least in academia, is “the tragedy of the commons.” The term “commons” describes a resource that everyone can use at no cost, such as air. Professor of Law at Harvard Law School Lawrence Lessig explains that the tragedy is that when there is a limited amount of a commons, the competition over it causes its depletion because people work out of self-interest, whereas if they were considerate, everyone would have...
Help! I’m slumping and I can’t get a sale!
In a slump? Not making enough (or any) sales. Feel like you’re unable to get out of the rut? Maybe you’re not in a big slump but just can’t seem to hit the quota numbers. Let’s be kind and call it “sales underachievement.” Don’t panic. Don’t press too hard. Don’t get down on yourself. Don’t get mad. And above all, don’t quit. What causes a slump? You do. Therefore, you are the best (only) person to fix it. Here are the prime causes of...
Inflation Strategy – Part 4
The summer of 2022 is not really looking better than the Spring. the business climate is still tenuous as labor issues, COVID variants, and geopolitical uncertainties create continue material and labor shortages. Our biggest obstacle is the meteoric rise in inflation. Over the past three articles, I have laid out a series of strategies that could be employed to realign the policies and practices inside your dealership. We must be...
June 2022 reaches levels in New Industrial Manufacturing Planned Industrial Projects not seen since March 2022
SalesLeads has announced the June 2022 results for the newly planned capital project spending report for the Industrial Manufacturing industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction, and significant equipment modernization projects. Research confirms 150 new projects in June 2022 as compared to March 2022 with 152 planned projects in the...
Risk Assessment
As you well know there are quite a few issues facing dealers for the balance of 2022 and into 2023. We have Inflation with many factors pointing to Stagflation. We have interest rate risk (which is scary). We have credit risk from your OEM down to your customer level. We have increased transportation costs. We have pending EV interest and requirements....
Three lessons learned at Automate 2022
According to a report by Oxford Economics, faster adoption of automation could equate to an extra $4.9 trillion per year to the global economy by 2030. That’s equivalent to an economy greater in size than Germany. Where better to learn about this potential than America’s largest showcase of automation, Automate 2022? Claudia Jarrett, US country manager at automation parts supplier, EU Automation, examines the three biggest trends from...
Abel Womack celebrates 100 Years in Business, continues Legacy of Innovation
The Northeast US premier material handling company marks a major business milestone, building on one hundred years of dedication, professionalism, and integrity Abel Womack, a Northeast, US full-service lift truck, automation, and intralogistics company, has announced that it is reaching its key milestone of 100 years in business in 2022. This latest achievement is underscored by the company’s culture of teamwork, expertise, customer...
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