April 2016 e-Newsletter 
 

Small Business Survival

business_failure A significant amount of information on why businesses fail has come from business owners (it was the fault of the bank, the economy, the employees, etc.).

Unfortunately, if owners knew why their companies were in trouble, they would probably take corrective action, giving their businesses a better chance of survival.

In reality, the reasons businesses fail are not often simple, pretty, or the fault of the usual suspects.

According to the United States Small Business Administration, about 65% of newly formed businesses fail in their first two years, 50% fail within five years, and 30% live to see ten or more years.

In this issue, we'll be counting down half a dozen of the top reasons businesses fail and explaining how teaming up with a dedicated manufacturer such as ZEN Industries could give your business an advantage in the HVAC industry.

Expending Effort Outside of Your Core Competency

Here at ZEN Industries, this is a factor we see all the time in the HVAC industry.

Many companies attempt to keep all of their manufacturing in-house… this can often prove a problematic decision for your business.

This is especially true in the HVAC Industry when it comes to duct manufacturing.

Traditionally speaking, in-house manufacturing of HVAC duct has been a common practice, however, in recent years, the flaws in this traditional logic have become more apparent.

  • Skilled, qualified labor is becoming increasingly more difficult to find.
  • Lack of purchasing power in materials procurement means higher cost.
  • Maintaining equipment and inventory requires its own infrastructure.
  • When the economy dips, keeping individual in-house shops busy is a challenge.

When your main expertise is installation, let the manufacturing experts at ZEN Industries supply your duct. To learn more, contact ZEN Industries today!

Failing to Track and Measure Marketing Efforts

hvac duct industrial ductwork For the remaining reasons small businesses fail, we refer to a recent article by Travis Thorpe on Inc.com. Let’s start with measuring your marketing efforts.

Many tools exist today to allow businesses to perform valuable market research.

 Web Analytics can reveal much about how customers are using a website, what kind of audience is interested in a website, which customers are leaving, and more.

Utilizing Web Analytics tools is an important part in any business plan as it will allow you to custom tailor your marketing technique based on what any business’s potential customers are doing. Full article…

Failing to Adapt and Grow

Your business’s ability to adapt to market changes is imperative to its success. Even if a business model was working at the start, as trends and the market itself change, a business could be left out in the cold if it fails to adapt.

Careful consideration of information gained through the process of tracking marketing efforts allows a business to stay ahead of the curve and remain on top of current trends. Those who fail to do so could among those left behind.  Full article…

Failing to Leverage Future Growth

Businesses fail because they do not seize the opportunity to establish solid marketing elements that will bring great reward in the future. Well established branding and extensive online marketing can provide a business with publicity and potential clients for years to come.  Full article…

Failing to Listen to Customers

Often, customers (or ex-customers) have a better feel for why a business is failing than the owners or managers of a given business. Whether they are an expert on your business or not, input that comes directly from the customer can be a good indicator as to whether your business’s marketing strategy is working or not.  Full article…

Failure to Establish a Presence Online

A business that does not market online might as well have their closed sign up for three days out of seven.

With more people than ever using the internet to make purchases (approximately 80%), a business that fails to establish a presence online is shutting itself out what could be a majority of their potential sales. Full article…

Contact ZEN Today!

No matter how demanding the project, ZEN Industries has the experience and expertise you need. To learn more, Contact ZEN Industries today!

ZEN Industries provides all or part of your HVAC needs. HVAC ductwork manufactured according to your schedule, meeting 3rd Edition 2005 SMACNA standards. Contact Drew McCaffrey - Sales & Estimating at 877-600-0274.

Success in our business is about service.

Success in our business is about service. The quality of our HVAC duct work is of the highest caliber and our price competitive with the best in the industry. Nonetheless, quality and price are default items today in sheet metal fabrication. They give us access to the playing field. Service is where ZEN Industries Inc. gains its edge, and service means people - it's about our experienced personnel and the relationships we build with each and every customer.

Learn more at www.zenindustries.com

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