For years PBS broadcast a renovations program called “This Old House.” This program featured historical homes that needed significant repairs and improvements to make them more livable for the current residents, while maintaining the original ambiance of the structure. It originally featured Bob Vila who would take the viewer through the renovation process. He would show how homes were originally designed and built, explaining why certain materials were used during construction. He would have the contractors working on the project explain why they were replacing or fixing certain parts of the home and how these modifications would create a more livable house for the owners. The show is still popular after more than 40 years and is still in production to this day.
Sometimes our businesses need a “This Old House” type of renovation. It is easy for us as business owners to get stuck doing things certain ways. We market to the same clients. We continue to perform those same services we have always done – turning our back on potential new sources of revenue. Our lobbies don’t change with the times or they are not kept fresh and clean. We fail to look at new methods of production which may increase efficiency and improve service for our customers. We get accustomed to our pricing models that fail to provide the margins we need to be profitable or we are afraid to increase prices because we fear our customers may go elsewhere.
When I visit some dry cleaners, I am amazed at how their call offices look like they did decades ago. The store is dark and dirty, they need a fresh coat of paint and there is absolutely nothing appealing about the area where they serve customers. Most of these operators do no marketing and yet complain about a lack of business and low profits. Their equipment is not maintained and as a result it becomes unreliable or results in poor quality.
When I hear these operators complain about lack of business and revenues, I ask them what steps they are taking to correct these situations. And the answer I usually get is “nothing.”
All of this brings me to my old clock. My clock was a gift from a local dry cleaner who recently closed. She is a very nice person who worked extremely hard in her business for over 25 years (like so many of us do). She and her husband purchased their dry cleaners just a few months before we started ours in 1996. Over the years we became friendly competitors and would help each other out when needed. However, when her husband became very ill, she eventually determined she could no longer run the business and take care of him. She shut it down.
Once she decided to close, the owner reached out to me asking to bring her some business cards so she could refer clients to us. While waiting in her lobby a clock on her wall caught my eye. It was an old vintage 1950’s clock that had a banner across the top that promoted her company. It kept perfect time but needed some tender loving care as the neon no longer worked. When I asked her what she was going to do with this classic timepiece she told me she wasn’t sure.
During the liquidation of her business, she sold a couple of pieces of equipment to me. While removing one of the last items remaining in her plant, I again inquired about the clock which was still hanging on the wall. This time, she told me that since I had helped her in the past and she really had no plans for the clock, to just remove it from the wall and that I could have it. She told me it was hanging on the wall when they bought the business, so it really didn’t mean that much to her. I was taken back by her generosity.
Quite frankly, I was amazed the clock (which probably weighs about 50 pounds) was still hanging on the wall. The toggle bolts had become very loose and it seemed like it would take very little for it to have come crashing down. In fact, I joked “the only thing holding it up was faith and some old paint.”
Not really knowing much about the clock, I decided to do some basic research. An online search revealed there are folks out there who collect these things… who knew? I emailed a letter to a fellow who obviously knows much more about these clocks than I ever will and asked if my new prized possession was worth fixing and what the possible cost of repairs might run.
I was surprised at what he told me – my clock was an item very much in demand by collectors and was certainly well worth the cost of repairs. A nearby sign shop was intrigued by this old item and for less than $100 he soon had it glowing in all of its former glory!
But now the question became “What should I do with it?” For a moment, I considered selling it, but that didn’t seem right. It was a gift from a friend and fellow colleague whom I respected. Should I hang it up in my plant? Although that would be a good option, there was not a place that would properly display this amazing piece of history. So after much deliberation, I ended up hanging it on a wall on my back porch – and I am glad I did.
For starters, I look at my clock every single day. It serves as a constant reminder that time marches on, whether or not I am prepared for it. I am also reminded the only reason I have this clock is that a friend of mine went out of business. For whatever reason, her business no longer exists and there was no exit strategy in place for the company to continue on without her. It is also a daily reminder that my time as an owner / operator will be ending some day in the not-so-distant future. I understand I have spent more years in this business than I have to give it in the future.
Just as “This Old House” shows us how we can transform a home – my old clock serves to remind me that my business might need a transformation from time to time. I have found that delegating certain tasks to my staff as they earn my trust is essential to our growth. We are embracing automation to the extent such investments make sense given our size and available resources. We are looking at additional services we can offer to our clients – even if we need to outsource certain tasks. We are working hard to make sure our financial house is in order, given the uncertain economic climate we are in. (I’ve told my staff, we’re going to continue to grow at the speed of cash – as we pay off what little debt we have).
We have expanded our marketing efforts, with weekly e-mails to clients, sending direct mailings to potential customers, text blasts and advertising specials on client orders. In addition, we have reinstated our monthly newsletter to clients and are using them for lead generation. We are now increasing our prices semi-annually to keep up with escalating costs. These are just a few of the things we have either implemented or reinstated in the past few months.
Personally, I am making an effort to limit myself to a more reasonable number of hours of work each week. Although I doubt it ever gets down to 40, I am certainly trying to become less of a workaholic than I have been in the past. Again, my clock keeps reminding me about the undeniable persistence of time.
And yes, there is a sense of urgency to these personal and business transformations. Those home remodels by Bob Vila didn’t last forever – they eventually finished the project. In much the same fashion, my old clock constantly reminds me that time certainly waits for no one, and time is growing shorter. It’s time to get stuff done!
Steve Thompson is the owner and operator of Sand Dollar Cleaners in Jacksonville, Florida. He has been in the dry cleaning business for almost 30 years, starting with a dry cleaning pick up and delivery service and developing it into the full service dry cleaning operation it is today. He was previously in the banking industry, working with organizations in Indiana, Texas, Oklahoma and Florida. While in the banking industry he earned designations as a Certified Public Accountant, Chartered Bank Auditor and a Certified Internal Auditor. Steve has previously written articles and developed training programs for accounting and internal audit organizations. He is a graduate of Indiana State University with a degree in accounting.
