Strategy & Tactics: Business Planning Basics Facing pitfalls? Here are 5 ways retailers can learn to be more prepared for unexpected twists and turns in both life and business. Words by Rosa Sophia When preparing for the future, retailers agree it’s best to have a plan—and a backup plan in case the first option doesn’t work out. James P. Smith of A.C.T. Audio in Vernon, Conn. said it’s best not to look at pitfalls in life as failures. “Look at it as a lesson,” he said, noting that it’s important to sit down and extract knowledge from the experience. “Then it becomes more of a success because you know what not to do in the future. You can analyze your mistakes and see how you need to change your mindset or your behavior—whatever the situation is—to keep moving forward.” Smith said when he makes a mistake, he uses it as an opportunity to learn, to keep something similar from happening in the future. The debut KnowledgeFest Orlando took place June 25-27, and on Sunday, Smith taught his first class, called “Getting Out of Your Own Way: From Technician to CEO.” In it, he covered understanding core…
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[Read] the on the digital platform for Mobile Electronics magazine Joining the Club There are many different ways to get involved in the industry and network with fellow professionals. Let’s explore them. Which option works best for you? Clubs, groups and associations are either exclusive, inclusive or both. Before you consider joining one, you should ask yourself a few questions, such as: What do you hope to get out of being a member? What are you able to contribute? Does the group conflict with other groups you’re involved in? Do the rules make sense and are you willing to abide by those rules? And lastly, why do you want to be part of the group? You’re probably seeking information, or even a sense of belonging. If you find value in it, then join and participate. Types of Organizations and How to Navigate Them Group leaders will state the purpose of the group and control the direction of the content. For example, a Facebook group will usually have a stated purpose and rules of engagement. Most groups allow for free exchange of information with little restrictions. Most will ask members to refrain from advertising or promoting themselves,…
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[Read] the on the digital platform for Mobile Electronics magazine Face to Face It’s time to reopen KnowledgeFest The sign on the door says we’re open for business. As schools, amusement parks, and, yes, trade shows and conferences reopen, we are excited to begin returning to normal. This June 25th KnowledgeFest will be starting up again in Orlando, Florida. This will be our first event in the Sunshine State. At the time of the event, it will have been over 15 months since we were able to meet in person back in Long Beach, California in February of 2020. It has been a long, hard road for many of us, and for a myriad of reasons. Learning From the Challenges of the Past Year As an association, we better understand key facets of the industry and how best to provide assistance in times of uncertainty. I can vividly remember the last in-person events I took part in. In February 2020, I was in Germany as a presenter at the Car Media Convention (CMC). In March, I was in the United States as an exhibitor, and I also had the privilege of presenting the keynote at…
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Kevin Hallinan of WINNING, Inc. shared sales insights in this week’s weekly presentation with Mobile Electronics Association April 23, 2020 -- Today, MEA’s weekly webinar focused on selling, and Kevin Hallinan presented on “The Buyer Seller Dance and How to Take the Lead.” Hallinan—a KnowledgeFest speaker—has over 30 years of sales, training, and management experience. Those who missed the presentation can view the recording by visiting Mobile Electronics Association on Facebook. Attendees also asked questions relating to how the current COVID-19 crisis has impacted how salespeople interact with clients. Hallinan urged attendees to be willing to think differently about selling. He then discussed how to create ground rules for selling. “In selling situations, someone is leading and someone is following in the conversation,” he said. “How do we know if we are the one who is leading or following? The one who’s talking is following. The one who’s asking questions is leading. The more questions we ask, the better off we are.” Hallinan also asked attendees to think about the three most compelling words they can think of if someone were to ask whether they should work with them or with a competitor. “The bad news is, we’re not sure…
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MEA hosts retail owners and managers roundtable during COVID-19 crisis Last week, Mobile Electronics Association held an industry roundtable online for retail owners and managers, led by Chris Cook, president of MEA. Panelists and attendees focused on how the industry can move through this difficult challenge together. The call was attended by at least 125 people. Panelists included Tomas Keenan of Top Class Installations in New York; Jason Kranitz, CEO of Kingpin University; Bryan Schmitt, CEO of Mobile Solutions; and Andy Wehmeyer, CEO of Audiofrog. During the meeting, Cook said he hopes to hold similar roundtables in future weeks with different panelists, including those who’ve taught at KnowledgeFest and those who have not. Attendees discussed staying safe during the spread of COVID-19, what defines an “essential business” and how to use downtime to focus on strengthening the structure of the business. Panelists urged business owners and managers to work on the structure of their businesses, and keep in touch with clients using newsletters and social media. Other industry conferences have taken place online, as well, in which businesses have discussed ways of moving through this difficult challenge. For more information about how your state and business is impacted, please click…
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Begin the New Year with hope for your future and the future of your business. What have you done today to make your business better for tomorrow? Your business need not be defined by what you did yesterday. Don’t let past mistakes define your future. Learn from, then let go of the past. It really should be defined by what you do today and then strive to repeat those successes going forward. It may be hard to make such bold statements when you remember your past failures. Learning from your own past takes reflection and will serve to produce wisdom that only comes when you have truly experienced failure. Analyzing Your PastTake a hard look at your... Read the rest of the story HERE.
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