Sales IQ: Switching Tracks

Sales IQ is a monthly column that taps into the sales expertise of your fellow Chamber members. This month, Jim Mapstead of IMPACT Award Finalist Accurate Signs & Engraving in Phoenix reveals how a mid-course correction kept his business from running aground.

By the fourth quarter of 2009, we had a problem and we knew it.

A by-product of the housing market collapse was a bottoming out of the commercial electrical contracting business. As a company that fabricates thousands of (mostly) plastic tags electrical contractors are required to use on commercial installations, we drew a major portion of our revenues from that industry. When they felt the recession, we felt it, too.

Rather than wait and hope things would improve, we put a new plan in motion that would not only keep us afloat, but keep us growing. We discussed, deliberated and decided to pursue the solar panel installer business. Solar installers have similar needs to the electrical contractors we’d depended on for so long, and the solar industry is on an upward trend, both here in Arizona and nationally.

We acquired and compiled lists from the Phoenix Business Journal, APS and various websites of the largest and fastest-growing solar panel installation businesses in the state. To distinguish ourselves from our competition, we made up elaborate sample boards and mailed them to potential customers along with a price sheet and cover letter describing our expertise and track record. The critical point was that we followed up with phone calls within a week of mailing the sample boards and the response was very positive. We landed several new customers, and by August 2010 we had secured our first national solar panel contractor, Solar City out of Cupertino, California.

This one seemingly-simple strategic move helped us show nearly a 15 percent increase in revenues last year. We are currently embarking on another and more extensive round of marketing to attract even more solar panel installer businesses outside of Arizona.

What’s the lesson? That things change and you can either watch them change, do nothing and watch your business dry up, or you can change direction and set a course toward growth and success. Involving your team in the decision is critical to achieve buy-in and follow-up is paramount.

We’re all facing challenges of one sort or another. Look at your challenges as an opportunity to change for the better rather than letting things go from bad to worse.

This story is part of the Chamber's new monthly Business Driver email. To receive any or all of our email newsletters, click here.