2021 Adaptation Roadmap For Contract Decorators

July 20, 2021

We made it!

We survived the darkest times of a global pandemic and are on the road to recovery. Everything is great now! Right? Right?

Not quite. While 2021 is looking up, things are not back to 100% and the need to stay diligent and mindful of how to adapt should continue to be a focal point.

While we might not be quite back to traveling and visiting with you all in person just yet, we have been staying in touch. Our communication connection is more important now than ever before. Listening and learning about the challenges and obstacles that companies are facing is of great value. This input helps to formulate patterns and trends, leading to counsel for how to adapt and thrive. With that collaborative approach in mind, below are some of the latest adaptation points to consider.

  • Pricing
    As the cost of goods and labor continues to rise across all aspects of our industry, do not miss the opportunity to review and adjust your pricing where it makes sense. Your time is your capital and is more valuable than ever before given current labor shortages and with the demand for service being so great.

    Beyond reviewing your standard price sheets, take note of areas of your business where time is being wasted and work toward either charging more or improving processes. With efficiency in mind, this could lead to creating a segmented price tier for those who submit orders and communicate the best. One can easily focus prices around volume, but if that large customer has your team wasting too much time, then the profit margins will shrink quickly and harm your process.

  • Process
    Whether you have a person-based or tech-based workflow system, the gears need to be greased and running smoothly. As time is your capital, focus on making sure things are running with the fewest amount of delays, hiccups or hurdles. If it is time to review a tech-based solution, you can find a great list at the bottom of our team’s landing page.

    Smart technology should be about increasing your efficiency and adapting to service needs that are in demand. Shop management systems can have you produce a lot more output with the same amount of people.

  • People
    Amid all we have been through together, recognize those who have been there to help. Developing incentives and acknowledgements can go a long way toward inspiring and motivating your team. In addition to the veterans on your squad, keep focus on those new hires to ensure they are being adequately trained and understand the nature of their role. Too often we rely on hope that rookies will “just figure it out” and this costly mistake leads to lower rates of retention.

    One excellent way to manage those doing the least favorable tasks, is to institute rotational cross-training, so that one person does not get burnt out on the same thing week after week.

We are just past the halfway mark for 2021 and I stopped trying to predict how things are going to be in the near future a long time ago. While the pathway ahead might be still coated in a thick blanket of fog, with continued communication among your fellow industry friends and peers, we will adapt and overcome!