Price Modern
Choosing the Right Path
Leverage where you've been and continue defining the market.
Challenge
Price Modern has - through grit, determination and hard work for over a century - forged the path of what a dealership should be. Price Modern is, without a doubt, one of the largest and most successful dealerships in the world. With this market leadership, comes responsibility. What role will the contract furniture dealership have in the future? What path does one have to take to get there?
What does one do now to create the path for a sustainable, scalable and profitable business into the next century..
Unprecedented Change
The business model of delivering interior solutions is changing now, more than ever.
Furniture Spend per Employee:
Your clients spend less per person on personal space. Simply put: In years past, you could project your earnings based on $3K per person, but now the projection is closer to $1K. Collaborative spaces and ancillary furniture don't come anywhere close to making up the deficit.
Consolidation:
For decades, when the economy realigns so does business activity. Now the difference is dealer consolidation is being driven by manufactures. More cities are becoming single dealership markets (per major manufacturer).
Commercial Real Estate Turn-Key:
CBRE and others are providing turn-key solutions with an unprecendented market share. Their stronghold with a client is ever increasing. Dealers continue to jockey for power to be the “trusted partner”.
Vision & Solution
Commit to Strategic Planning as a primary business cornerstone is the first step. Businesses will not survive and sustain themselves if this does not occur. Instead of being a market leader and demonstrating the path to future success, companies will get caught playing catch up once the market dictates how it needs to respond to change. The key: Not only lead your company through change but create the new business model.
Enlist
your best minds! While they all have their “day jobs”, if you have someone leading the charge as the strategic leader, you will get engagement of your best and most talented creative thinkers (while they still have time to honor their primary roles).
Engage and lead the industry through change. Spearhead the support and problem-solving prowess of architects, designers, commercial real estate players and other industry consultants (3rd parties) to figure out how to best play in the sandbox together while taking best advantage of the expertise and specific skillsets everyone brings to the table
Lead the particiaption with Haworth. While they may have task forces and outside consultants pondering what the “dealer of the future” looks like, make sure your steps are the ones they honor and follow.
Power to Lift
What are the steps that need to be taken to ensure Price Modern's market leadership? Not just the local scene, but continuing to define the role of the contract furniture dealership, their capabilities and the process of delivering first class interior solutions. The following links offer a glimpse of how a leader in strategic visioning can provide the foundation for this to occur - and sustain itself into the next generation.
Strategic Visioning combines all aspects of an organization.
In the process of architecting solutions - organization is
paramount. A key piece
in customized solutions is blending
the right supportive technologies.
I use a number of successful
platforms which streamline and
support deliverables. However, it is
important that technologies
support an organization's specific
corporate culture. A company's
existing platforms - and those of
their partners need be understood,
and be a key piece of any solution set.
Moving Forward
Fast paced life drives all of us.
Responding to client needs and delivery of exceptional solutions is paramount. However, leaders never fail to prepare for what is ahead.
Take Action:
The hiring of a Chief Strategy Officer (CSO) will map out how to steer the ship far into the 21st century. This course will prepare ownership, leadership, vendor partners and clients for the next generation business model.
I am confident you will create a culture of strategic planning, formal succession planning programming and leadership development - to continue your lineage far into the future and look forward to participating in those endeavors.
Define
Leading the colaboration.
