Business Chops Tip #24: How Focused Is Your Commercial Market Expansion?
The commercial market, though smaller than the consumer market in terms of sales volume of gear, represents widely diverse opportunities.
There are fourteen types of commercial venues. Application contexts occur across multiple venue types, such as such as board rooms and single-room presentation spaces.
For systems integrators coming from the residential market, the most “home-like” application contexts both in system design and scale are the most relatable and thereby are the most logical for commercial market expansion early-on. Well thought-out planning that narrows the focus enables contractors to approach the commercial market surgically by design rather than by chance.
Author’s Note: Creative and technical professionals (from musicians and actors to designers and engineers) rely on their ³chops²: those skills and techniques that they use to be successful on the job. Stiernberg Consulting coined the term Business Chops to encompass those skills, experience, and tactics that you rely on to be more successful. Whether you are a dealer, manufacturer, distributor, rep, or design firm, this series includes tips and techniques for optimizing sales, profits, and growth of your Custom Retail business.