“Business opportunities are like buses,” Richard Branson, the billionaire British tycoon, once mused. “There’s always another one coming.”
Sir Richard knows firsthand, having dabbled in many an enterprise under his Virgin brand, from record stores to airlines and trains, not to mention Virgin Galactic space travel. Branson, like Elon Musk, is a bit of a renegade, and renegades are known for being fearless. Fearless, however, doesn’t cut it in the mainstream business world.
That’s not to say we can’t make calculated risks, even absent Branson’s enormous chip stack. We can embrace the notion that viable business opportunities exist for dealers in the office technology dealer space. But to take Branson’s analogy a little further, the bus stop frequency isn’t all that high in our part of town. As dealers, you’ve set certain parameters as to what you can and cannot peddle. However, technology and those brave souls who are the first ones through the wall with new offerings will dictate what defines us as dealers, and it’s always subject to change. As Peter F. Drucker, the noted management consultant and author, aptly observed, “Whenever you see a successful business, someone once made a courageous decision.”
Before we go down that road, let’s assess where we currently stand. If you perused our Top 10 Stories of 2023, you’d know that a solid majority of dealers enjoyed year-over-year sales increases—some by significant margins—and only one out of more than 100 registered a loss in instances where specific sales figures were cited. The reduction in supply chain delays meant a lot of jobs in holding patterns were finally completed, and the sales went on the books. And some of the big boys in the upper echelon of the Elite Dealers list made strategic acquisitions that pumped up their totals. But the growth spurt touched a large swath of our list, and I dare say that some of it can be attributed to product diversification.
MFPs are in no danger of going away in the immediate future. But in considering ancillary offerings such as electric vehicle chargers, phones, security/access systems and production print gear, dealers can build a catalog that wouldn’t tie a lion’s share of its fortunes to A3s and A4s. The further we distance ourselves from the pandemic era, the louder the calls for diversification.
The “bus” (two, actually) made a stop in our neighborhood in 2023 in the form of EV chargers and ecommerce sites. Many have climbed aboard, eager to see where the journey leads them. Some have taken a wait-and-see approach and are opting to catch the next bus, and that’s fine. Industry “passengers” are wondering if that future bus could be bound for ChatGPT and the many flavors of AI. Regardless of what set of stairs you’re willing to climb, the most important thing is to get on board sooner rather than later.
This brings us to the 2023 Elite Dealers list, with 118 of the nation’s finest resellers of office technology. What they’ve shared in the following pages can be a blueprint of sorts that connects decisions, strategies and changes implemented to the aforementioned growth spurts. Many are in your own back yard, perhaps share the same OEMs as you and pursue some of the same vertical markets. As you sift through the list, the common denominators will become more apparent, and perhaps you’ll find a tactic that resonates with you. Or maybe there’s a candidate on the list that may make for an ideal partnership opportunity. That’s the value of Elite Dealers. Every industry should have a who’s who directory—this is ours!
Here’s a sampling of the information gleaned from bullet points.
Marketing innovations. In-bound, out-bound, digital and social media. Integrated multi-channel campaigns. Leave behinds and forget-me-nots that keep you front of mind with your customers. Hosted events that frame the dealer as a thought leader in a given discipline. Innovative solutions that draw more traffic to your website (with bonus points for ecommerce). Creative examples abound, and these may provide a nugget or two for your own initiatives.
Major scores. These tales of business takedowns can be absolutely gratifying for anyone who’s struggled to crack a longtime prospect or sought to unseat a regional competitor (especially a competing OEM direct). Virtually every dealer has a tale of contractual success shared in these pages, and there are plenty of tips and tactics that can help you formulate your own strategy.
Corporate generosity. This applies to both a company’s employee ranks and organizations within the communities they serve. Golf outings, fundraisers that emphasize fun and bond team members, and food/toy/holiday drives that help deliver much-needed support to the underprivileged says a lot about an organization and its values.
We invite you to check out our 2023 Elite Dealers list and learn more about what makes these companies tick. If your dealership isn’t on our list, please make it a point to apply in 2024. Congratulations to all our honorees, and read on.
