Awards & Engraving

June '18

Issue link:

Contents of this Issue


Page 51 of 84

A&E JUNE 2018 • 49 Indeed, risk-taking is an essential skill of anyone owning and operating a thriving enterprise. Good decision making begins with being able to visualize the future, assess the rise and decline of customer interest and demand, and assigning probabilities to each possible outcome. Impulsively adding promotional prod- ucts — or any new potential revenue gener- ating initiative, for that matter — can put a fairly successful awards shop in a bind if they were to take big risks for moderate reward, or even moderate risks for minimal reward. Consider this: if you are going to venture outside of your comfort zone and away from your core competencies, do your homework. There is a wealth of informa- tion and insight that is yours for the asking. Talk to other awards shops or other businesses — such as screen printers and embroiderers, or sign shops — that have successfully added promotional products to their mix and learn from their experience. Ask them what means to hook up with reli- able manufacturers do they use, and make sure that, if this decision doesn't succeed, it doesn't sink the entire ship. Good luck! The demand among the general buying public for these products is burgeoning. IMAGE COURTESY MARCO AWARDS GROUP A&E

Articles in this issue

Links on this page

view archives of Awards & Engraving - June '18