I Warned You

February 2007

I talked a few months back about the tremendous growth of the industry. I also talked about possible ways this growth might change our industry.  I don’t know what you are seeing in your immediate market, but I am seeing changes where ever I look. It seems that everybody is playing hardball and it’s just business.  Time was when most everyone knew each other in a market or industry segment. Competitors were friendly and by and large left each other alone, that is when they weren’t outright helping each other. There is way too much money on the table today for that attitude to succeed. Those that haven’t gotten the memo may be in for a rude awakening.

Last month I told you about posters to a forum that received letters referencing tortuous interference. This month those same posters are holding the manufacturers feet to the fire by not ordering unless they enforce their sales policy across the board. They are voting with their checkbooks. It’s just business.

The rumor was when Federated was selling its bridal group that one of the hold ups was that it didn’t want After Six to go to Men’s Warehouse. Oh well. That was just business. Sometimes you have to sell to the one that has the money.

I got my invitation today to The Wedding Channel Couture Show. It came from theknot.com. Do you think for a minute that when the Knot moved to purchase the WeddingChannel.com they thought about what effect it would have on UltimateWedding .com? I doubt it. From what I understand, they were looking at how well WC’s gift registry would fit with the Knot’s current offerings.

I have been watching the same thing happen on a smaller scale in my local market. There are some business owners that are visionaries; that see the larger picture. Some are more myopic and take everything personally. Those business owners that keep their eye sharply focused on their goal and not what the competitor is doing are the ones that are going to win. Yes, your competitor will throw you a curve ball or place the occasional speed bump in your path. I can just about promise you they are not out to get you personally, if they are  they aren’t focusing on their own business and that will be their down fall.

My friends, this is business, big business; and every day the players at the table get bigger. If you are not focusing on solid business practices, on keeping your own vision in focus you are in for a rude awakening. Just because you have always done business with a specific vendor or in a certain way does not mean it is still a valid play.

You have to look at each business decision you make and each dollar you spend through this new lens.

If you read last months admonition to read the E-Myth then you will understand this comment; if not please go read the E-Myth. The wedding industry is changing rapidly. You are either a craftsman or a business owner. Those who have the entrepreneurial mind set will see this for what it is: just business. Here is an example: A young woman love to cook, she goes to school so that she may seriously make cooking her life. She gets a job in a restaurant and gets to cook everyday. She is happy. She is also very good. She advances through the ranks and eventually opens her own restaurant. She is happy. Funny thing is she is rarely in the kitchen now. Now she is running the show. The dish she creates is the business itself, not just the food on the plate.  Only you can decide if you want to stay in the kitchen or own the business.  In order to grow you may have to stop doing what brought you here in the first place.

No related posts.