Build a Better Business
by Gene Muchanski, Editor
The Dive Industry Professional
Our Editorial last month was Building a Better Industry. Within minutes after we published the editorial, my phone rang off the hook. Most of the calls were short and to the point, but one call came from a well-respected Dive Industry Professional that lasted about two hours. My friend agreed with our approach at Building a Better Industry but was quick to point out many of the current challenges facing the 21st Century diving industry.
As I explained to my colleague, as an Industry Planner I am focused on our industry’s bigger picture. We created a trade association 25 years ago to define the organizational structure of the industry and identify the programs, products, and services that are created, distributed, and sold through the industry’s channels of distribution. Our mission is to bring buyers and sellers together but in order to do that we need to study and document the best ways to facilitate the flow of goods and services from producer to consumer. An industry is not sustainable if it does not have a sound organizational structure. Much like a house, it has to be built on a good foundation. And after it’s built, it has to be managed and refined as it grows.
As a Trade Association, our organization works with businesses in the diving industry that produce programs, products, and services for diving. A big part of our responsibility to the producers is to identify, understand, and work with the Dive Industry Professionals who work in the industry, either on a full-time or part-time basis. In order to help bring buyers and sellers together successfully, it is imperative that we also understand and identify the end users. It is the end users who determine if an industry is going to survive or not.
A trade association can work with various components of the industry to study and recommend best practices for production, distribution, marketing, and economic development and growth but it’s up to the individual businesses in the market to produce the right products, at the right price, for the right customers. To be able to do that, every business in the diving industry needs to focus on being the best business they can be. To be considered a good industry, it is imperative that we have good businesses. Good businesses become great businesses by continually focusing and improving on their core competencies. Good niche markets become great markets by having industry sectors and stakeholder groups that properly integrate with each other to produce workable, profitable, and successful outcomes. Successful outcomes don’t just happen by default. They are planned for and executed by the businesses and stakeholder groups that have a vested interest in the success of the industry.
Make it a Priority: Building a better business starts with a decision to make it a company priority. That applies to every business in the diving industry, regardless of whether you are a sole owner-operator, a mom & pop small business, or a multi-million-dollar corporation. Someone has to do what the business was set up to do, and someone has to run the company that is the legal and business framework for what you do.
Allocate Resources: Runing a business takes time, money, and manpower. If you want to stay in business, doing what you do, then commit to allocating the necessary resources that make it possible to run a successful business. The best strategy for allocating resources to manage your business is to make it scalable. Allocating too much attention to running a small business could be as unproductive and costly as spending too little time managing a growing business. Start off with a good business foundation and build your organization as it grows. As your business grows, invest in new tools, technologies, and business practices to properly manage your growth.
Keep Adapting to Change: Building a better business is a never-ending challenge. There is only one constant in the world of business and that is there will always be change. Make change work for you. I earned my degree in Marketing 45 years ago, but my business education continues to this day. Believe me, the world of business has changed in 45 years. It’s still changing and at an accelerated rate. If you want to be successfully engaged in business, you have to make professional business development a constant activity in your career. It has to be a life-long commitment and a top priority for you.
Focus On What You Do Best: Every business has their strengths and weaknesses. It is best to build on your strengths and work with your weaknesses. One of your strengths should be your core competencies. If it isn’t, maybe you’re in the wrong line of work. But if it is, then maybe that is what you should focus on. If running a business is a weakness for you, you have two viable options. You can either learn more about business issues or you can delegate the business responsibilities to someone who understands business better than you do. Ignoring your business problems or continuing to do things the wrong way are not intelligent options.
Learning something new is not as difficult as you think. I do it all the time. Where Dive Industry Professionals get bogged down is in their desire to learn something new. They learned how to be a better diver and a better instructor because they love diving and they enjoy teaching diving. But when it comes to running a business, some dive professionals don’t like it, may think it’s boring, or they would rather do something else with their time, money, and manpower. And that’s OK. Understanding how you feel about doing certain things is enlightening. It’s always your choice to make.
Become Engaged in the Industry: You should always be building a better business but don’t be a silo entity. Open yourself up to the concept of shared knowledge, experience, and marketing promotion. If it is your responsibility to manage the business issues in your company, then becoming actively engaged in the global diving industry will pay immense dividends for you and your company. There are many advantages to networking with people who are in the same boat as you are. There is strength in numbers and there is plenty of wisdom and experience to be shared amongst colleagues. For the diving industry to grow in the new millennium and achieve some type of reasonable sustainability for a brighter future, we need to learn how to play better with others. The recreational diving industry is a small sandbox of fragmented businesses. If all businesses in the diving industry would learn to play well with the other dive businesses and stakeholder groups, I am confident that our industry would grow by leaps and bounds.
Become a Member of our Global Diving Business Network: Annual Membership in the Dive Industry Association is $125 and includes placement in a number of Trade Directories and websites. Our organization uses websites and directories in advertising and marketing campaigns to refer business to our members. By joining our network, you are becoming part of a network that works on your behalf to bring buyers and sellers together for the benefit and growth of the Global Diving Community. Download a Membership Application today.
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