Your piece of the pie

Business growth expert Judy Guido gave the Hardscape North America keynote speech on Wednesday, telling some truths and asking some questions business owners need to think about.

“Our industry, like any other, has problems,” she said. “The person who can solve any one of them will be a very wealthy individual.”

Naming lack of education, sales training, product knowledge and more, she also noted that one of the biggest challenges is attracting the younger generation to the green industry. Here are some takeaways:

• Another big problem is thinking you can do it all. To be successful, she said you need to choose a few categories. “It’s hard to have a 100 percent solution because everybody wants everything,” she said.
• Using the example of Building Direct, a do-it-yourself supply website, she said you should prioritize what you’re going to offer. Or Trench Safety, a company that specializes on just that – trench safety. “They saw a gap in the market and filled it,” she said.
• Come up with something you’re specializing in. For example, water is a commodity, but “enhanced water” is a big winner on the market right now. “You can create a word, but remember to own words that matter to your core clients,” she said.
• She pointed to the Pareto principle: 20 percent of the invested input is responsible for 80 percent of the results obtained. She said it also applies to sales: 20 percent of your clients provide 80 percent of your revenue.
• Own a word or two in the market that explains your purpose. For example, Disney is all about happiness.
• Create content for your customers. “Today it’s all about educating,” she said. “You are what you publish. You are what you teach.” Whether it’s videos, social media or articles, offer something to your customers. Then get it out to trade associations and customers however you can.