Q: What is your business (brief description) and how does it differ from your previous work?


A:  I am now a dealer of tiles both granite and ceramic.  My products came from big wholesalers who have import and local manufacturer contacts.  I buy the tiles to them in wholesaler’s price and enjoy the freight they give to dealers for free. 


Well, being a business owner is a different thing from being an employee wherein you are bounded by management rules and one must adjust his strategy in the direction of the company goals.  There are limitations like avoidance to disclose competitors’ information as an alternative even though it is obvious that the requirements of the client are different to the company’s offerings.  As I earn much of my salary through commissions, “sales talk” and the process of calming a frustrated client in the after sales should be performed and handled with guile.  This I confidently performed even though the fish is already caught in its mouth. 


As a business owner, you have the resources in control and the direction of the firm in your fingertips.  Now, I gradually comprehend the pressure of my former managers when its commission based employee is in the field and contracting others.  The fact that “money motivation” is such a great broker force to sell other brands, like I tried in the past, is a concern to grapple without demoralizing the workforce.  Of course, it is more exhausting due to monitoring of core business areas like regular customer retention and over-all management of employees in logistics, selling area and cashier.  


 


Q: How your 15-year experience in real estate brokerage motivated you to establish this business?  How does the experience aid your operations?


A:  First, it is good to mention that I received a large share of the necessary capital to start this business from my separation pay from my former employer.  Although my former company treated and compensated me fairly, at this age, it is tempting to plunge in a risky venture just to gain huge returns that is not based from intermittent commissions I received in the saturated and government-subsidized real estate business.  It is both monetary and self-fulfillment orientation.  When I am old, I may not be mobile enough to travel.  And due to occasional and limited commissions, I cannot afford myself to own a car. 


            In my 15-year career, I empirically proved that experience is the best teacher.  Most of my college course I had forgotten in favor of the actual experience in negotiation.  I develop my own theories and build strength in risk-taking activities.  These help how I make promises to regular customers in this business and proactively plan where are the loopholes of those promises so that my patented “sales talk” could be ensued.  Now, there are no bosses to run to in times when I have to fill my broken promises with clients.  It is advantageous to me because I can replace the broken promises with additional tiles, higher discount or free-delivery in an instant. 


            In addition, I also pulled a lot of clients and friends in the former company especially our engineers who conduct contractual projects to order the tiles they needed to me.  Since they knew the market price of my merchandise, I am profiting from regular purchase.  It is a strategy which is not tagged in short-term profit alone but it also gain reputation for my store as passersby see how clients fill my business area which is silent and no-cost advertisement and branding.


 


Q:  How do you handle your valuable resources which are people?


A:  Today, I have five store personnel who are salaried.  I allot two people to concentrate on dispatching merchandise before passing-out the counter to assure that they are certified in good condition by the customer.  The three are concentrated to answer customer queries and provide assistance.  The cashier is my beautiful daughter who just graduated from college with a degree in accounting.  I do not consider her employee but a co-owner so the cost of her work is not reflected in the financial statement. 


            The number of daily customers reach at least fifty with almost half of them actually purchase.  During holidays and special occasions, I am hiring contractual employees and pay day in daily basis with commissions.  My belief is that every stakeholder in this company, either for short or long time, should harvest the fruit of their contribution.  However, I am strict with honesty and customer satisfaction.  When this two are violated by any employee, I will give then their pro-rated separation pay and off they go. 


            I installed a culture of informal but responsible communication and coordination.  The system also should adapt to situations such as office hours, emergency situations and happy hours.  Everyone is encouraged to give their suggestions in our weekly meeting done every Saturday.  It is the first day of our weekly operations as we are closed every Friday and open 9 am – 6 pm from Saturday to Thursday.  I made the schedule as I expected that customers pour during weekends as this is the family day and everyone in the family can have their opinions heard on what color of tiles they like for a new or renovated home.


 


Q:  How do you handle other stakeholders especially the customers: the plans?


A:  I have confronted a lot of risks in selling properties and so I am not afraid to negotiate and build partnership with other possible suppliers in different industries like metal, plastics and other home building materials or fixtures.  However, I should maintain my sound relationship with my tile supplier as of now until the time that other suppliers can offer the same relationship and contract to me.  Even though I assumed risks, now that I am an owner, I should spend much time to calculate those risks for long-term gains.


            With regards to value-adding partners like interior designers, architects and engineers, I am planning to integrate services of them into my business to give customers consultancy services and materials in one package.  However again, I should be assured that those partners will not increase their fees or predate my business.  The relationship should be built in trust and mutual benefit-cost sharing.  These plans are for the future as my business establishes a good inventory and turn-over of builder’s merchandise that is not only limited on tiles and grout.        


            For customers, these partnerships will be based on their demand of my products.  Limited variety purchase equates to minimizing on-going future partnerships while the reverse could ignite contract signing or even internalization of some value chain activities.  Well, plans are plenty but the stimuli from the customers are required to realize the success of them.


 


 


           


           


           


 


 


              


    


                   


                


 


 


 


 


 



Credit:ivythesis.typepad.com


0 comments:

Post a Comment

 
Top