Business

3 Tactics to Fight the Looming Market Correction

As the market slows, integrators need to act quickly to boost sales and marketing efforts, differentiate themselves in the market, or downsize their company payroll.

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2 Comments
Posted by loren roetman on March 5, 2019

Captain Obvious here, boiled down, I am “reSpecializing”. Light commercial with as much quality AV in addition to the IT, partnering for large Cellular Augmentation packages with 5G in mind, focusing on a simple fresh Virtual Conferencing System approach utilizing new 180 cams and steering mic arrays, throwing all IoT plastic crap and obsolete legacy stuff out in the alley, avoiding all systems with Cable/Satellite delivery and getting our focus back (forward?). That’s my plan in a nutshell.

Posted by highfigh on March 7, 2019

If “A market correction refers to a price decline of at least 10% of any security or market index following a temporary upswing in market prices.”, we already had one- it occurred on Dec 17, 2018. It didn’t last long though, and it wasn’t caused by one industry’s lack of governance, greed/avarice and morals.

As the driver of a white van who gets all of their business through repeat and referrals, I do no advertising, nor would I, unless I decided that I want to screw myself by having more than I need- this means more employees, materials (I don’t stock more than the leftover cable from jobs, but I do have cables that would be needed for small jobs and driving to get them would be wasteful) and I try to never carry inventory. I don’t need to keep equipment past its model year and lose money by selling it at or near cost.

The fact that people are talking about more advertising may mean they haven’t noticed that more people are doing this work, to some extent- that may mean selling Sonos and other streaming devices, Orbi/Google Hub/Amazon type devices that people want, can’t or won’t set up and don’t think they want a full system, so they buy the minimum and have some low priced person or Best Buy set it up, to the best/worst of their (in)ability.

Look around- the field is more populated than ever.

2 Comments
Posted by highfigh on March 7, 2019

If “A market correction refers to a price decline of at least 10% of any security or market index following a temporary upswing in market prices.”, we already had one- it occurred on Dec 17, 2018. It didn’t last long though, and it wasn’t caused by one industry’s lack of governance, greed/avarice and morals.

As the driver of a white van who gets all of their business through repeat and referrals, I do no advertising, nor would I, unless I decided that I want to screw myself by having more than I need- this means more employees, materials (I don’t stock more than the leftover cable from jobs, but I do have cables that would be needed for small jobs and driving to get them would be wasteful) and I try to never carry inventory. I don’t need to keep equipment past its model year and lose money by selling it at or near cost.

The fact that people are talking about more advertising may mean they haven’t noticed that more people are doing this work, to some extent- that may mean selling Sonos and other streaming devices, Orbi/Google Hub/Amazon type devices that people want, can’t or won’t set up and don’t think they want a full system, so they buy the minimum and have some low priced person or Best Buy set it up, to the best/worst of their (in)ability.

Look around- the field is more populated than ever.

Posted by loren roetman on March 5, 2019

Captain Obvious here, boiled down, I am “reSpecializing”. Light commercial with as much quality AV in addition to the IT, partnering for large Cellular Augmentation packages with 5G in mind, focusing on a simple fresh Virtual Conferencing System approach utilizing new 180 cams and steering mic arrays, throwing all IoT plastic crap and obsolete legacy stuff out in the alley, avoiding all systems with Cable/Satellite delivery and getting our focus back (forward?). That’s my plan in a nutshell.