The Simple Cost

Sometimes company leaders equate doing the simple thing with keeping things simple. They are not the same. Sometimes doing the “simple thing” creates unintended consequences.

As it relates to boat models and corporate decision making, let’s go back to a simpler time.

In 1965: 

When automotive companies had only a few car models, they would endeavor to improve each model each year. For instance, the ’56’ Chevy Bel Air had changed radically by 1965, but it was always the Chevy Bel Air. The same model logic held true for about every car company.

Now, new models with new names come out every year.

In the past, the distinction of having a market-specific model helped the manufacturer establish a successful relationship between the model and the customer, which contributed to the overall company success.

In other words, the success of the each branded model reinforced the popularity of the manufacturer and the success of the manufacturer reinforced the overall product line. Each success fed the other.

In today’s world of boat manufacturing, the success of the brand seems to be managed by a bevy of totally new models on an annual basis, leaving the older models to dangle unsupported. It’s not pretty.

Car companies discontinue the sales of an old product but boat companies keep them in the line. Yet, keeping old, slow selling models is a costly mistake.

(It’s not a wise plan to have a product line that has more losers than winners. How can that be good for your image and/or brand identity?)

Of course the “simple thing” has always been to keep the old models in the product line. It, however, adds to the complexity of your marketing image and that adds cost.

Here’s an example of keeping things simple as opposed to doing the simple thing.

Before Steve Jobs came back to Apple the company had grown its model line to an almost unbelievable selection of computers. Steve realized that the only way out of the losses was to reinvent the product line and eliminate the slow selling models. Before his death, Apple had made things simple again with a product line that was manageable and completely understandable by the general public. Gone were the multiple configurations that bewildered the first time buyer. iMac was the “hit” that started Apple on the road to consumer understanding and reinforced the brand as the simple, and highly profitable, computer company.

In contrast, the common refrain emanating from corporate boardrooms in the boating industry rationalizes that the “cost” of carrying the lesser selling models is negligible since the molds are in good shape and the parts are in inventory.

It’s a nice theory, but the true cost is the “hit” your company’s image is taking because of some poor selling models.

Your image is what establishes your brand. The cost of tarnishing that image can eventually destroy your brand and severely diminish your potential profits.

And that’s about as simple as it gets.

When The Light Shines Through

I often talk about the need for today’s executives to understand the relationships that govern the differences among their marketing department, their sales group, their engineers, and their designer(s). Too often they pair up Sales & Marketing with one another, and Design & Engineering. Big mistake. Though it's a common practice, it makes little sense to anyone who thinks it thru. 

Executives should take a second look. Sales deals with the present, Marketing deals with the future. Likewise, Engineering deals with the present while Design deals with the future. By incorrectly pairing these sectors of the company you can create the formula for argument, bickering, and eventually bad decisions for product development. Sales and engineering are about the company and products. Marketing and design are about the consumer and the product's use and/or impact.

Each division of the company has a specific goal to achieve. The real question is “What should come first?” If your answer is something other than Design then you will most likely relegate your company to mimicking what someone else creates. And that’s only the “tip of the ice burg”.

Fortunately, some top executives "get it."  They've spent years learning how to navigate the initiatives necessary for successful product development. Design, not engineering, develops the wow factor that establishes the brand. Engineering builds the wow factor. Marketing presents it and sales brings in the bottom line. Each element brings an indispensable component to the company.  

One of the most successful executives recently shared his insight in a magazine article. If you don’t know the name "Bob Lutz" you should. Bob was, and still is, one of the most respected automobile executives, and he understands what sells. 

In Bob’s most recent article, Driven by Design, (Road and Track September 2015) he notes, “There aren’t any bad cars anymore.” “Reliability, braking, steering, handling, ride, and refinement are all largely on par across automakers and segments. That leaves just one chief differentiator: design.”

In our industry, boat manufacturers make fiberglass. Almost everything else, engines, dashboards, seats, windshields, canvas, generators, sinks, etc. is supplied to the manufacturer and is installed by the manufacturer. In other words, almost everybody has the same things to install. The manufacturer’s pricing is determined by the amount and cost of those installations. 

So what is the chief differentiator in the marine industry? 

Design.

Hopefully this sheds some light on how to manage your future.

Click to Enlarge

What's in a Name?

Do you remember your uncle JG341? No? Then you might remember your Uncle Joe.

I bring this up because we sometimes overlook the importance of a name.

Take the internet for example, the Internet Corporation for Assigned Names and Numbers (ICANN) manages all the names assigned to all the numbers. Many people don't realize that website addresses are actually numbers, but it's too hard to remember strings of numbers so we needed something more personal, easier to remember, and something to which people could relate. So we gave our websites names.

When Starbucks, takes a coffee order, they write your name on the cup instead of a number. They understand the value of treating a customer like a person, not a thing. 

Numbers are extremely impersonal, but they have their place. One place that clearly defines you as a number is prison. Prisons immediately strip you of your identity and plaster a number on your back. It's demeaning and it's meant to be.  

People respond to names. This appears to be especially true when we talk about our cars. A name lends a personality and fosters a psychological connection. In 2012, Automotive.com did a survey and found 61% of people surveyed personally name their own vehicles. Those people endeavor to give their vehicle a character that they relate to because it makes their vehicle more personable.

Product designers strive to create an emotional connection between the customer and the machine, and it shows up in some of our cars. Sometimes we find the exact vehicle that speaks to us on that personal level, and it usually has a name. We do have a love affair with our vehicles. 

The top name in the automotive world that beats all the rest is simply the Mustang. The pony car is the all time favorite car name according to askmen.com's contributor, Thomas Bey. The "stang" has "evoked thoughts of freedom and the open road for generations of drivers." 

It's true that names can add the flair and romance we want. In contrast, the alphanumeric naming of product that gained traction in the 70’s with Mercedes has just about run its course. Consumers are tired of soulless numbers that say nothing. They want to identify with their cars, and in some instances they want their cars to identify them. Besides, it's no secret that keeping numbers and letters straight remains a mental challenge to the best of us.

Witness a perfect example. Back in 2007 Mark Fields, then Ford's Executive Vice President flubbed a line when he was on stage at the L.A. Auto Show. While speaking about the the Lincoln MKX, the flagship sedan…oops, he made the common mistake. (Who can remember all of those alphanumeric derivatives) The MKX was the luxury SUV, not the sedan. He corrected himself and finished his introduction of the new sedan, the Lincoln MKS. 

Beginning years ago with the accepted course of using an alphanumeric system for product identification, bean counters have continually favored the system because it saves on all that costly research and the worrisome possibility of litigation. Besides, bean counters would contend, that it’s usually enough for someone to explain the type of vehicle they own by relying on the brand name and not the model. 

Bean counters need to stand aside.

Brand names boast of the company, they say nothing about the personality of the driver, the brand only hints at how much the owner paid.

On the other hand, a model name reflects the combination of characteristics or qualities that form or embody the individual and distinctive character that brought the customer to that specific vehicle.

Offering a number to a customer only signals that he’s standing in line and waiting to be recognized. Recognition comes easier with a name. 

So, when you consider identifying your product remember that the name isn't about the brand. It isn't about the vehicle. It's about the person behind the wheel. 

The Art of Imagineering

Imagineering is one of the greatest capitalistic tools ever created and most companies do not know what it is, nor how and why to make it part of their company’s culture.

It is an idea with value ramifications that can dramatically increase the probability of a successful and profitable new product launch.

Interested? To create a structure for imagineering within a company, one first needs to examine the difference between Design and Engineering.

Corporations have long combined the disciplines of Design & Engineering with mixed results. Usually Design falls under the auspices of Engineering, which will almost always create a friction between the two if each is true to their own discipline. As a result, the company usually winds up with a lesser product. The answer to creating better products lies within a deeper understanding of the two disciplines.


In general terms, Engineering endeavors to save money, Design strives to make money. Engineering is related to product refinement, while Design is akin to new product discovery. Those are significant differences!

To implement Imagineering within your company begin by creating an equal opportunity for influence between the two (Design and Engineering) within the corporate structure. After establishing an equality of influence, take an active role in the management over each of these separate disciplines. Once you do, you’ll be on the road to creating and establishing one of the great business tools for continued sales success.

I’m sure you have a firm grasp on what your company is prepared to spend in order to insure a lower operating cost, like better equipment within the plant, or creating processes and procedures to insure a lower cost of production, or how much engineering time should be spent to refine a new product or an idea.

Question… Have you thought about what you are prepared to spend in the discovery of a new product or idea?

Ask yourself what opportunities have you afforded to your design department in collecting the proper information so that they can start the design process with the proper premise? If your designers are pragmatic about their processes they will want to establish a premise for the design project before they start, otherwise they will be lost before they begin and you will never get the result you are looking to achieve.

Successful implementation of Imagineering demands a greater interaction of each of the disciplines of Design and Engineering with the customer and the consumer. This is especially true for designers.

Designers need time outside their cubicle and away from corporate influences. After all, their job is to design first for the consumer.

They have to be aware of trends and consumer movement. How much are you willing to spend for them to grasp and identify some of the outside influences that affect the consumer and his buying habits?

In the end, Imagineering is a well managed synergistic effort between those that can make you money and those that can save you money.

Like anything else of value, creating an Imagineering department within your company is a process of continuing effort. How it adds another element of success to your company will be as individual as you are.
Peter

First printed July 2006 in CEO Magazine. Reprinted with permission.

Your Future and Being on the Right Track

By Peter Granata, president, Granata Design — Will Rogers once noted that “Even if you’re on the right track, you’ll get run over if you just sit there.”

So if you’re sitting there waiting for your customers to come back let’s explore a few thoughts.

There are opportunities in some, as yet, undiscovered areas of boating. The thing to remember is that your product, or service, has to adapt to a new style of appeal. Today’s customer requires a visual reinforcement of his/her current values from your product.

The current economic times have created numerous changes in buying decisions, and it will continue to become increasingly obvious that many boats have priced themselves above their intended market (sometimes it’s not smart to listen to everything the customer wants). A long list of manufacturers are hopelessly waiting for the “same” customers to return as before this economic downturn. Without acknowledging it, they are expecting buyers to be interested in the same old thing that is “dressed” a little differently. Big mistake.

Here are some things to consider as you develop a new product or service.

Recent surveys show that the population is migrating to geographical areas that are nearer to coast lines. Job salaries have declined and the workforce is experiencing a diminished psychological relevance in terms of their value in the work place.

For men this is an especially important element that defines them. While women define themselves by their relationships and put “security” above all else, men need to feel relevant and significant in all areas of their life.

As such, it is imperative to address these feelings in any new product.

Many boaters are financially unable to buy a boat that is equivalent to what they would have purchased before this economic downturn. According to marketing experts I spoke with, this diminished purchase capacity on the part of many consumers can leave them feeling less significant and keep them away from purchasing a boat.

In order to offset any feelings of financial inadequacy and restore the buyer’s feeling of significance, automobile manufacturers are responding with new categories of transportation. Crossovers, mini’s, Value cars (Small but high near luxury content), electric cars, hybrids, etc. Anybody can buy one of these and hold their head high in their social group because it’s different and also meets the buyer’s financial capability.

A common assumption made by producers of new products and/or services is that the consumer is going to want what they have always wanted, except they will want it at a lower price.

If you count yourself in that group, it’s time to re-think your strategy.

Nowadays a boat (even a service) has to be made to appeal to the eye, the mind, the wallet, and the prevailing social environment. Buying a boat is no longer a decision that is made on one of those requirements, it needs to have an undeniable appeal to all of those requirements.

The key is going to be a configuration that has great versatility. Product versatility equates to a better value in the mind of the new consumer and allows for a greater social acceptance of the purchase.

Ask yourself, “Does my product offer the customer a broader range of use and is it a purchase that can have a broad social appeal?”

Your company’s future is vested in your customer feeling good about his decision to buy your product. Time to get a move on.

Choo-Choo!

Boating Industry Magazine May 26, 2011 

It’s Only a Matter of Time

By Peter Granata, president, Granata Design — Just as “clocks” were incorporated into every imaginable electronic instrument a few years ago, so too are more sophisticated electronics being incorporated into daily use electronics, like your phone.

The telling of time has become so accessible to us today that many of us have stopped wearing wrist watches. In many cases, the once utilitarian watch has been relegated to little more than a piece of jewelry. Our phones keep perfect time and even change time zones automatically as we travel. Separate timepieces have been marginalized.

Other items long considered a stand alone item have become marginalized as well.  One such item would be a camera. Just a decade or so ago 24 hour Photomats were all the rage. Today, electronic cameras come in all versions, even on a keychain. The simplest among them take excellent snapshots, such as the ones currently “incorporated” into our smart phones, and we are in charge of developing our pictures. We still love to take pictures but Photomat is extinct.

Over the past summer I took a long weekend and visited an area of Florida. While there I had the use of a small runabout sans GPS. I found an app for that! (an app is an online application that can be downloaded to your device … in case you aren’t keeping up with the lingo.)

For a download fee less than $50 I was able to download a full set of charts that mapped out all of the waterways I would ever visit. It turned my iPhone into one of the most complete GPS’s on the water you could want. Tide info, direction, speed, waypoints, everything you might desire of a GPS was there on my tiny little screen. I had to remind myself that as small as this screen was, it was not short on information.

Which brings me to the iPad, its 9.7” screen, and the subject of electronic redundancy. Why would I buy a $3000 GPS when a $600 iPad loaded with a $50 app could do everything most GPS’s could do? And when I was finished using it on the boat, I could take it with me. I use the iPad for many multiple uses in daily life. I use it to read books, correspond in e-mail or social sites, create presentations, listen to my tunes, etc. Oh yea! Tunes, did I mention satellite radio? There’s an app for that too!

We’re living in one of the most exciting times anyone could have imagined a decade ago. We’re also beginning a re-education of simple economics in our lives. People still want to have fun. They just don’t want to spend as much doing it. So, just keep your iPad dry, eliminate as much electronic redundancy as you can, and enjoy the extra money. Build smart. Boat smart. Wait until you see my next concept boat.

Boating Industry Magazine October 5, 2010 

A Positive Outlook

By Peter Granata, president, Granata Design  — This morning I was scouring the newspapers and came across what’s wrong with a lot of business.

As business leaders we try and stay abreast of what’s in the news so we can make well-informed decisions for our companies today and in the future. Maybe we’re looking in the wrong place.

This morning I noticed two separate and distinctly different views on the same information from two different news organizations.

Reuters News led with the headline: “Higher GM and Ford sales point to steady recovery.” I was glad to hear that news, but then I noticed Bloomberg News reported on the exact same story and led with the headline “GM, Ford sales in July come in below expectations.” Same news, different story.

It reminded me of the story my dad told me about the value of a positive outlook and how damaging it can be to have a negative outlook on the future.

The story my dad told was of this little old man who had a hot dog stand and worked hard enough to send his son to college (back then this was not something to be taken for granted).

The son returned in the midst of the Great Depression and was shocked to find his dad had so many hot dogs. The son convinced his dad that this was a great depression and that if he continued to inventory so many hot dogs he would surely go broke. Being sure that his son had received the best education and was therefore more insightful about business than he was, the old man got rid of much of his inventory.

Soon after, with less to sell, his daily receipts began to tumble. Within a short time the old man was out of business and became convinced that his son had saved him from the great depression.

The bottom line is that the little old man listened to the fears and created his own depression. Now you can tell me you’re not doing what the little old man did and you can tell me all of the things you’re doing to avoid going broke, but, can you tell me what you’re doing to sell something?
Or are you waiting for better news before you invest in your business’s future?

Boating Industry Magazine August 10, 2010 

Ideas are Currency

By Peter Granata, president, Granata Design  — Does success follow a company that decides to replicate or assimilate someone else’s products? Imitation is the sincerest form of flattery but will it be competitive?  Every time a company elects to take the easy way out and copy a someone else’s idea, aren’t they forced to compete on price alone?

When a company copies what is popular they can only expect that a small percentage of the market will be attracted to their product, either because it’s out of brand loyalty, or convenience, or price. (Read that again, a small percentage of the market.) If one is really trying to do the best thing for their company’s stakeholders, one would endeavor to succeed in the market with the least amount of competition. It’s about creating distinction. And it’s about building a good reputation.

In many cases the niche market offers more opportunity for success than the broader market.

Success in the specialty arena allows better profits, does more toward establishing brand loyalty, and distinguishes the company in ways one could never afford to advertise with the press. It allows one’s company to stand out from the rest.

Not to be overlooked: by competing in a niche market one sends a very energizing message to the workforce, a message that encourages them to explore and find unique ways in which to make the company and the product more successful.

The companies that continue to replicate what someone else has already brought to market do not have a future in this economy. For proof, look at China and how it’s affecting our markets. Anybody with a business sense and a valid passport can travel to China and within a reasonably short time find a company that will be willing to replicate anything we sell here for less money.

At this moment the advantage goes to companies here in the States that continue to research and develop new and unique product, or at least, updated product every year. We have that advantage because each new model year we can create something new to offer the market. The copycats will take those good ideas to China and have them built for less by the next model year. That means the product they sell will always be a year old.

Old product that is cheaper may have its advantages, but it also speaks volumes about how and what your company thinks of its customers. That’s a message that no one wants to broadcast.

In case you haven’t already decided to change the way you do business, now may be an excellent time. Invest in the Research and Development you need to lead your niche with new product opportunities.

Innovation = Ideas! These are the currency in today’s business world. Invest wisely.

Boating Industry Magazine July 27, 2010 

Why new boats were originally introduced in July

By Peter Granata, president, Granata Design  — Before history gets rewritten, I wanted to offer a glimpse into why new boats were introduced in July rather than September.

There appears to be some momentum behind introducing new models in September rather than July. Some who are calling for the later introduction appear to be attributing the early introduction to the manufacturer’s greed. To be fair, you should know that boat manufacturers started introducing new boats in the middle of summer at the request of the dealers.

What happened “decades ago” was that local banks controlled the floor planning for local dealers. At the end of the typical selling season, in the fall, the banks would send out someone to do a physical inventory of what boats had not sold by checking the serial number on the boat for the model year number. If a boat was determined to be “unsold” for that model year the dealer was required to pay a curtailment to the bank of an additional ten percent.

The banks, in essence, forced the dealer to demand from the manufacturer an early release of new models so the dealer would not to be forced to buy “old” inventory when he needed it in July or August and pay a curtailment.

In the current economic climate, it might make sense to hold the release of new models until the end of the summer selling season. Maybe. You have to be the judge as to how it would impact your business.

My sense, however, tells me that once sales return to a quicker pace, we may well want to return to buying new boats in the middle of summer. After all, if and when you need to replenish your inventory it only makes sense to floor plan a new product versus a product that will be out of date in 30 days.

They say we are doomed to repeat history when we fail to take notes. I just thought I’d pass along this note. So noted.

Boating Industry Magazine May 14, 2010

Lower Price vs. Higher Design

By Peter Granata, president, Granata Design  — If the product you are selling needs a price cut in order to sell, then it’s very likely that the design appearance of the product does not measure up to the asking price.

We base almost all of our choices on how something looks! From spouses, to houses, to cars, to boats.

“That looks expensive” or “That doesn’t look like it’s worth it” are only two common refrains that you often hear when a judgement is based on something’s appearance. We, as consumers, make those judgements every day. Yet when a manufacturer decides on what he will build, does he “settle” or “strive” on the appearance? If he “settled” then it’s very likely that the design of the product does not measure up to the asking price. If he has simply waited too long to redesign the product, the impact to the consumer is the same. The product just doesn’t measure up.

Good design is the only tool that can elevate a product in the hierarchy of product desirability. Bad design, in turn, will denigrate it to a point to where the manufacturer of the product needs to lower the price of the product. However, excellent design creates a sharp-looking and appealing product that can cut across price points with “gotta have it” desirability.

So, take a look around your showroom, does anything need to sell for less? If so, contact your manufacturer immediately and tell him you need a design increase or a price decrease.

In this economy, as with every economy before it, product is king.

Boating Industry Magazine April 19, 2010

Small Dealer, Big Idea

By Peter Granata, president, Granata Design  — If you’re a boat dealer and you’ve managed to survive this downturn, now is the time to consider what you must do to thrive. One question you will have to ask yourself is, “Do I, and will I, have the right product at the right price?”

Answer this with the understanding that when the values of a people are shaken as hard as they have been over the course of this recession, the ideas of how they spend their time and money will change. In order to answer the question, you must analyze your product line offerings.

First, do you have the right mix of boats for a changing and future market? Do the boats you have on your floor right now reflect and respond as to how they will enjoy boating in your area in the future? Will your sales be dominated by fishermen? What kind? Maybe your market will begin to cruise more, or maybe the changing demographic will involve themselves more with water sports.

Second, are your boats priced competitively with other dealers’ product offerings in the area? Is your product priced in line with what your awakening market will bear?

Third, and lastly, whether you are satisfied or not with your current product offering, you have to determine how these boats will need to change and stay relevant in the future because the future will define how successful you will become. Do you think the manufacturer is accurately planning for your boats to advance along with the aspirations of the new consumer?

In many cases, the boat manufacturer will listen intently to the requests of their largest (sales) dealer. Too often, they ignore the opportunities available to them in a market that has a greater potential than the one represented by their “largest” dealer. Is that you? Are you one of a group of smaller dealers that could provide real growth to a manufacturer? If you are, then consider banding.

As a small volume dealer unable to capitalize on the volume purchase discounts some manufacturers provide to their largest customers, this may be the time for you to band together with one, two or three other dealers of like mind and circumstance. Create your own buying group to capitalize on those discounts and gain an influential voice in the product’s future. The benefits outlined by banding together a small group of selling dealers can be endless, and you don’t all have to be in the same area.

Now is the time to take an aggressive measure to not only to make a smart business move coming out of this recession, but also insure the future of what you have worked so hard to protect over these last months and years.

Move forward. Surprise the future. Band together.

Boating Industry Magazine March 29, 2010 

Just Thinking

By Peter Granata, president, Granata Design — Ever notice how some leaders look at things individually rather than as a whole? They look at the numbers of the business but not the business overall. They focus on the problem, not what is causing the problem. They look at the way things have always been done in their industry but not the way other industries are accomplishing their goals. It’s called “not seeing the forest through the trees.”

An example of a narrowly focused executive might be a boat manufacturer (this actually happened) that had a business audit which showed that there’s a lot of money being spent on “patch & repair” to his boats at the end of a production line. The solution is not to fire the people that are patching and repairing the boats, the solution is to find a way not to damage the boats as they move through the production line. Sounds simple, but you’d be amazed at how the obvious escapes some people.

Business owners in the boating industry always have to look at their business in its entirety in order to survive and prosper. If there’s an area of their business that’s costing too much, or simply losing money, business owners back up and take a look at the whole picture.

Because we’ve endured a great recession, many of the boat dealers that this industry have counted on to “move the merchandise” have closed their doors. No money. No money available through banks, nor lending institutions, in general not enough money to continue operating. When dealers are not available to create the sale, our industry sputters.

If we stand back, however, and look at the big picture there may be other opportunities that we can “tap” into.

Recently, there are more than a few automobile dealers that have been disenfranchised by the very company they represented. Specifically, they are dealers who have local banks that want to work with them, they have showrooms and service areas, and they know how to sell product. Many of these dealers are all “dressed up” with nothing to sell because the product line that they represented has been taken away from them.

What if the leaders of our industry bond together and make an earnest marketing effort to draw in these disenfranchised dealers, and teach them what they need to successfully sell and service boats? After all, they need something to sell and we have the perfect product to put them back to work.

Just a thought.

Boating Industry Magazine February 23, 2010 

Regifting

By Peter Granata, president, Granata Design — December 17 is National Regifting Day. For those of you not familiar with the practice of regifting it is described as the act of taking a gift that has been received and giving it to somebody else, sometimes in the guise of a new gift.

To paraphrase Jeff Foxworthy, If this sounds like something that you might have on your floor plan, you might be a boat dealer.

Finance companies have been “regifting” inventory from dealers that have fallen on hard times, thereby virtually drying up much of the production of brand new boats from manufacturers.

Now comes the ripple effect. At some point the current inventory in dealer’s yards will give way to this year’s “new” product directly from the boat manufacturer. Question: How different do you think it will be from the “regifted” boats that are selling at heavily discounted prices?One unfortunate repercussion from this economic upheaval will be that much of the “new” product will look very much like the old product throughout the next year. Product is always expected to drive sales. This time it’s different.

If we’re going to get out of this slump, we’re going to have to rely upon the dealer organizations to sell our way out of it. The real salesmen of our industry will have to stand up and defend our future. They are the cavalry, but as in any good fight one would hope reinforcements are on the way. Dealers want to make darn sure that their manufacturer is preparing some solid products to be introduced in the very near future. And please, no regifting. Saleable product has to be either inexpensive or unique, a successful product has to be both.

After everything a dealer will go through during the upcoming selling season, he’s going to need the next round of new product to fit the new demands of the changing consumer. Smaller outside, larger inside, fuel efficient, towable, cost effective, and most of all, unique. Unique, because the customer is smart enough to know regifting when he sees it.

Boating Industry Magazine, December 11th 2009

Are we There yet?

By Peter Granata, President, Granata Design  — There comes a time in everyone’s business life when we are faced with having to make a critical decision that requires action. We’re getting very close to being “there.”

Many of us will have to decide if we are going to aggressively pursue sales during the upcoming selling season, or continue to wait until something happens. In choosing to wait, we may be deciding upon an inglorious end to our business.

Most of the industry has conceded that the 2009 selling season was a bust, and so far, I haven’t found anyone who wants to repeat THIS year!

It’s nearing the time to sing or get off the stage. The 2010 selling season begins next month, starting with the boat shows. If you’re a dealer, it’s time to clean up that inventory and try to put on a fresh face; if you’re a boat manufacturer, you might want to be working on some exciting new product for next year.

Human behavior being what it is, most of us will be looking forward to the holidays and the time off from business worries.

Once the holidays have passed, I anticipate that the beginning of the new year will bring a flurry of activity from many dealers and boat builders alike. Sort of like a poorly organized fire drill. Unless, of course, you are one of the few that have planned for your future instead of just waiting for it to happen.

It’s December, please remember you’re just around the corner from being “there.”

Boating Industry Guest Blog December 2009