Tim Seale, president of Timber Trading had built a successful wholesale lumber business. However, he realized there was going to be a limited premium that customers would be willing to pay to a middleman to facilitate deals between lumber yards and mills. The only way he would remain profitable was to add value to the process.
Tim decided to buy lumber and bring it to a warehouse where he could regrade it and create a product that exceeded industry acceptable standards. His company created a whole new packaging and labeling system that actually drove down inventory costs. He added a few more innovative products and services, until one day, his competitors realized Tim had created a new way of doing business.
Tim Seale is a visionary. He realized that a new vision was needed and that a whole new set of actions were required if he was to succeed in turning that vision into reality. It wasn’t easy, but he succeeded.
In these difficult times, what steps do you need to turn your vision into a reality?
How to Plan for the Future in Difficult Times
Timber Trading survived the housing downturn that crippled the building industry and the lumber industry. They understood the importance of visualizing the future and building a plan based on that future.
Here are questions to consider:
1. What changes do you see in your industry?
2. What ways can you improve your business and its way of doing business?
3. What can you do to set your company apart from competitors?
If you think the problem through, you’ll see the hidden opportunities that will help you reach your goals.