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Ken Crane’s Home Entertainment: Inheriting the ‘Only One True Boss’
This hybrid dealer carries on its "customer as boss" business model by way of a second-generation management team.
What is your basic business philosophy?
To provide our customers with the ultimate home entertainment experience, with the industry's best products and the most knowledgeable sales associates, with the utmost integrity and respect.
What are the most important business lessons you've learned?
1. Understanding and developing our own niche, being the best in our market at what we do and always staying true to our core beliefs.
2. Not forgetting there is only one true boss -- and that is our customer. How we treat them determines our success.
3. Be willing to take measured risk, and don't be afraid to fail -- nothing ventured, nothing gained. Do your research, but always listen to your gut response.
Any pieces of operational advice?
Schedule a weekly meeting to discuss every unfinished job and outstanding service call. We require that our installation manager, inventory control manager, and all salespeople attend.
Treat customers as if they were guests in your own home. Listen to their needs to best direct them to what would work best for them. They will be "wowed" and will tell family and friends.
What do you like most about this business?
The people. We are a family business, the sole purpose of which is bringing fun and entertainment to families -- be they customers or employees.
What do you like least about this business?
That our industry has made it a practice to continually "eat our young." This industry has an insatiable need to commoditize state-of-the-art technology as soon as it hits the market. That is insanity.
What is your biggest accomplishment?
Being in the position to market and promote ourselves as the home entertainment leader in Southern California and to launch new technology products.
What is the biggest challenge you're facing?
Maintaining profitability in a climate of extreme price and margin compression and offering leading-edge products and services that provide value and differentiate us from the big-box experience.
In what areas do you expect to grow?
We are growing custom installation, and we are also expanding our service department.
Is there a CE pro that you admire?
Our Dad for starting the company with no business experience, selling a product [television] that no one really knew what to do with (and few could afford).
Where do you access industry news, education and advice?
Collaborating with other specialty retailers, idea exchanges with other pro group members, market research provided by CEA (among others) and membership in Vistage (the world's largest CEO membership organization).
What is your favorite book?
Casey -- "Good to Great" by Jim Collins and "The Great Game of Business" by Jack Stack.
Pam -- "It's Not About the Coffee" by Howard Schultz and "Marley & Me" by John Grogan.
What are you reading now?
Casey -- "Breakthrough Companies: How Everyday Companies Become Extraordinary Performers" by Keith McFarland.
Pam -- "Team of Rivals" by Doris Kearns Goodwin.
To provide our customers with the ultimate home entertainment experience, with the industry's best products and the most knowledgeable sales associates, with the utmost integrity and respect.
What are the most important business lessons you've learned?
1. Understanding and developing our own niche, being the best in our market at what we do and always staying true to our core beliefs.
2. Not forgetting there is only one true boss -- and that is our customer. How we treat them determines our success.
3. Be willing to take measured risk, and don't be afraid to fail -- nothing ventured, nothing gained. Do your research, but always listen to your gut response.
Any pieces of operational advice?
Schedule a weekly meeting to discuss every unfinished job and outstanding service call. We require that our installation manager, inventory control manager, and all salespeople attend.
SnapshotCasey Crane, president, Pam Crane, executive vice president, Ken Crane's Home Entertainment
How about sales advice?- Years in Business: 60
- Years in Custom Business: 1
- Number of Stores: 10
- Number of Employees: 150
- Percent Retail/Custom: 90%/10%
Treat customers as if they were guests in your own home. Listen to their needs to best direct them to what would work best for them. They will be "wowed" and will tell family and friends.
What do you like most about this business?
The people. We are a family business, the sole purpose of which is bringing fun and entertainment to families -- be they customers or employees.
What do you like least about this business?
That our industry has made it a practice to continually "eat our young." This industry has an insatiable need to commoditize state-of-the-art technology as soon as it hits the market. That is insanity.
What is your biggest accomplishment?
Being in the position to market and promote ourselves as the home entertainment leader in Southern California and to launch new technology products.
What is the biggest challenge you're facing?
Maintaining profitability in a climate of extreme price and margin compression and offering leading-edge products and services that provide value and differentiate us from the big-box experience.
In what areas do you expect to grow?
We are growing custom installation, and we are also expanding our service department.
Is there a CE pro that you admire?
Our Dad for starting the company with no business experience, selling a product [television] that no one really knew what to do with (and few could afford).
Where do you access industry news, education and advice?
Collaborating with other specialty retailers, idea exchanges with other pro group members, market research provided by CEA (among others) and membership in Vistage (the world's largest CEO membership organization).
What is your favorite book?
Casey -- "Good to Great" by Jim Collins and "The Great Game of Business" by Jack Stack.
Pam -- "It's Not About the Coffee" by Howard Schultz and "Marley & Me" by John Grogan.
What are you reading now?
Casey -- "Breakthrough Companies: How Everyday Companies Become Extraordinary Performers" by Keith McFarland.
Pam -- "Team of Rivals" by Doris Kearns Goodwin.
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