Once I had my vision firmly
in place and had a team—from the
office, to the production floor, to my delivery drivers—who had all bought into
and co-owned that vision and the
benefits it held for them, it was time to put the meat of the plan into action.
Key #3: Innovation
We hear the term “innovation” thrown around a lot; but what does it
mean to truly innovate? I believe it means learning
all the good there is to be gleaned from what has been done by those who
have blazed trails ahead of us, without buying into any practices or beliefs
that will keep us from seeing new opportunities. There’s a point of harmony in innovation that keeps us from “re-inventing the
wheel” while seeing ways to make vehicles fly instead of using wheels at all.
It’s a place where science meets art in a way unique to each innovator based on his or her experiences and
ability to see what is ahead.
So I started dismantling and studying the established practices of the
entire industry.
What was waning in effectiveness?
What was gaining momentum?
Why were these realities happening?
How much did end-user perception or persuasion play in these trends?
What changes in government regulation were underway…upcoming…possible?
How was use of our industry’s products changing in the marketplace?
What were users’ complaints, concerns, and ideas?
...I paid attention to everything I could possibly think of that might
offer opportunities for positive change.
My team and I made many, many tweaks to everything from our inventory
management system, to custom equipment modifications, to our sales approach.
Having all eyes and ears open, looking
for opportunities—big and small—for innovative forward movements, the big
break made its appearance: a change in government regulations that was being
paraded through the industry as a harmful strike to the profitability—and maybe
even survival—of most of the players in our space.
This is where my being an industry outsider—someone with fresh eyes who
was specifically looking for breakthroughs amid the clutter—paid off.
While everyone else was worrying about a significant forthcoming
government mandate that would upset the status quo, I saw an opportunity for
the introduction of a new service
that had the potential to yield many
times the profit of any other per-unit product or service currently being
offered. So I tested it.
My clients told me I was nuts. My competitors, when they found out what
I was doing, denounced me as a snot-nosed kid who didn’t belong in the business and should take my marbles and go
home. One West Coast competitor who, for some reason, seemed to care about me,
even put his arm around me at our national convention and explained to me why I
was going about the business all wrong. He sincerely wanted to save me from
myself.
But I saw the future, and my new service was just what the doctor
ordered. So I stuck to my guns.
Despite a very real dislike for the position I had taken, my clients began to see the need for my
new service. They came to understand that I had their best interest at heart. I
was protecting them against potential problems with the government if they
continued in their old paths. Within a matter of months, I was no longer
hearing the nay-sayers, and my clients
were thanking me for having their backs.
Perhaps most notable was the fact that at our next national
convention—just one year from the time I was being called an uninformed
new-comer who didn’t deserve to be in the business—almost every company in our industry across the country had adopted (stolen?) my model and were offering the same
service I had introduced. Sure, I had a little fun with a jab or two at
some of the old-timers during the event, but all in all, I was seen differently
by my peers. Most of them realized I had been the one to see what they were
missing.
It wasn’t too long after having run the regional operations of two
national competitors out of my service area that I was contacted by two major
players with offers to buy me out. Both were very clear with regard to their
motives. It wasn’t my book of business or facility they wanted; they just
wanted me gone. Maybe they were afraid my next innovation would be even more disruptive. Maybe they didn’t
like a Johnny-come-lately showing them up. Maybe they just didn’t like my
haircut. Whatever the reason, they made no bones about the fact I needed to
find somewhere else to play.
A bidding war began between two competitors to buy my company, the
company sold within a few months, and I was on my way to my next adventure—one in which I would ultimately do
away with the traditional brick-and-mortar facilities used in that industry in
favor of temporary, mobile solutions and, in that process, land my biggest
paycheck yet. Maybe I’ll share the account of that journey another time.
Lessons Learned
I learned—or had reiterated to me—many life-changing lessons while
building that container management business. Among them are these gems:
· No one
has a corner on “the way” anything should be done,
· Having a fully
invested team is paramount to success,
·
Questioning
everything is where the real magic begins,
·
There will always
be nay-sayers, and
·
Nothing good happens without taking a risk.
I hope you see ways to apply these experiences and principles in your
business. If I can be of assistance, my door is open. Let’s talk.
***
About Me: I’m a strategist with three decades of business-building
experience across an array of industries. I help business owners and
decision-makers achieve their desired outcomes by increasing sales,
streamlining operations, and seizing previously unseen opportunities. More
about me, my clients, what I do, and my contact information can be found at http://bwpope.com.
