Principal operations are conducted from their main facility located in Sunrise, Florida. In addition to their office headquarters in Sunrise, Florida, Pan American Sales & Marketing also maintains four additional offices strategically located throughout the state of Florida. This allows them to offer their clients the highest possible level of sales and service within the territory. From specification to installation, Pan American Sales & Marketing is able to offer the quality products and industry experience you require and deserve.
Thursday, August 27, 2020
New Member Spotlight: Meet Pan American Sales & Marketing.
Pan American Sales & Marketing provides professional and comprehensive representation on behalf of manufacturers within the Decorative Plumbing and Hardware Industry. The products and manufacturers they represent are recognized leaders within their product category. Pan American Sales & Marketing combines products of the highest possible caliber with superb customer service to create a winning recipe for all members within the distribution chain.
Principal operations are conducted from their main facility located in Sunrise, Florida. In addition to their office headquarters in Sunrise, Florida, Pan American Sales & Marketing also maintains four additional offices strategically located throughout the state of Florida. This allows them to offer their clients the highest possible level of sales and service within the territory. From specification to installation, Pan American Sales & Marketing is able to offer the quality products and industry experience you require and deserve.
Principal operations are conducted from their main facility located in Sunrise, Florida. In addition to their office headquarters in Sunrise, Florida, Pan American Sales & Marketing also maintains four additional offices strategically located throughout the state of Florida. This allows them to offer their clients the highest possible level of sales and service within the territory. From specification to installation, Pan American Sales & Marketing is able to offer the quality products and industry experience you require and deserve.
Bertch Introduces New Bath Quartz Countertop Program and Free Solid Color Promotion on Kitchen+ Cabinetry.
Quartz has overtaken the countertop segment as the material of choice due to it’s durability, color consistency and beautiful appearance. And now Bertch has it for you ready-to-install without the high cost of field fabrication.
Bertch is waiving the solid color upcharge on all Bertch Kitchen+ cabinetry from August 3rd through October 3rd. This offer applies to standard solid colors only.
Bertch is waiving the solid color upcharge on all Bertch Kitchen+ cabinetry from August 3rd through October 3rd. This offer applies to standard solid colors only.
ICO Announces New Calma Vessel Sinks.
Starting with the Cavalli which is available in 2 options, white and white with a black exterior. Much like its namesake, the Cavalli sink creates a dramatic effect sure to elevate your bathroom landscape. Second on the list is the new Puccini featuring a matte black exterior with the same smooth shape you already love. The final sink on our list is a much-desired update to the Vivaldi Plus. The overflow drain has a new sleek design that is easy to match with any faucet finish.
Built to last a lifetime, Calma sinks are made from environmentally friendly rock and coated with a UV gel-coat layer guaranteeing a perfect finish for years to come.
Infinity Drain Honored with Multiple Awards.
Infinity Drain has been announced as a winner of the Kitchen & Bath Business (KBB) Magazine Readers' Choice Award in the Bath Accessories category!
They have also been announced as a 2x Finalist for the prestigious Architizer A+ awards for the Stainless Steel Shower Base (Kitchen & Bath Fixtures & Fittings Category) and for the Slot Linear Drain (Kitchen & Bath Plumbing & Drainage Category).
Elkay Announces Reserve Selection.
Elkay® is thrilled to announce Reserve Selection, an exclusive assortment of sinks only available through Elkay traditional wholesale distribution partners and their showrooms. From stainless steel to quartz, innovation is at the heart of everything we do. For designers, builders and homeowners who are looking for something special — a sink that goes above and beyond everyday looks and functionality — Elkay has created the Reserve Selection. You won’t find this collection online or at a local home center. Reserve Selection consists of:
- Lustertone Iconix® Stainless Steel Sinks and Sink Kits
- Quartz Luxe® Sinks with Perfect Drain®
- Fireclay Workstation Sink Kits
The Downside of Insufficient Sleep.
The medical community constantly advises Americans to sleep more and sleep more soundly. Easier said than done for many. When you and your team members don’t get enough sleep, what is the typical remedy? Coffee. Unfortunately, while caffeine offers short-term pick-me-up benefits, it is not a long-term solution to insufficient sleep. Plus, caffeine could be one of the reasons you stay up later than necessary or desired. Use caffeine strategically and not as a crutch to make sure you are awake and alert.
Lack of sleep adversely affects health and effectiveness. When you and your team members are tired, the likelihood of errors increases and quality of work erodes. That’s why you should prioritize your day around your level of alertness. When you are cognitively sharp, do tasks that required creativity, innovation and novel thinking. When you are tired, focus on routine tasks that don’t require a lot of mental energy. Most people are typically the most alert at the start of the day. Don't use the first hours after you turn on your computer to check emails or respond to texts. Use that time to create and innovate.
If your sleep routine leaves you tired, consider taking more frequent breaks during the day or even try napping for 20 minutes. In his best-selling book When, Daniel Pink makes a strong case for short naps during the day:
- Naps improve cognitive performance and boost mental and physical health
- Nappers are twice as likely to solve a complex problem than people who have not napped or who had not spent the time in other activities
- Napping boosts short-term memory and associative memory (the ability to remember names and faces)
- Napping improves healthy and strengthens the immune system
- The best naps are 10 to 20 minutes
Do You Really Know Who Builds Your Brand? Thoughts from DPHA Fellow Jeffrey Valles, Colonial Bronze
Chapter 1: This Is H U G E, They Will Love it.. And Our Sales Will...
A few years back I was approached to join a brand’s thank you trip to a wonderful far away land all expenses paid. We would visit the factory, talk with the people that make and support the fabulous products and visit a worldly city as only a native can. It sounded wonderful. But then I asked myself, why did they ask me? I did not really sell any of their products. If their numbers dropped in volume or profit dropped significantly, I would remove the line. There was no upside for this brand to spend thousands of dollars for me to have a good time. So, I sent one of our managers. A manager who sells. A manager who works to influence the sales team to sell the products that are best for us. This person can learn so much from this special opportunity. They can absorb the brand’s foundational story from its people, actually see the product being crafted and understand the culture in which it was created and continues to influence its maturation.
They will arrive back in the showroom working to build this brand’s product sales with their clients. They will also leverage their newfound respect and understanding of the brand to motivate salespeople not only to present this brand more often, but passionately explain what makes this brand special in the never-ending sea of products. Now this was promotional dollars well invested.
Showroom owners, I am sure you love these fabulous trips and would not be happy to see them disappear. However, if you work to find the time to send your influential salespeople on these elegant brand excursions hosted by your key, profitable brands, I think you will see the results in key brand sales and your bottom line. Sure, you will miss out on that particular memorable trip, but with a larger number on your bottom line and a happier team, you might be able to take the time to travel where you have dreamed to visit all on your own.
Most of your good salespeople will never have the opportunity to travel the world. Every day they sell products designed and manufactured in Italy, Germany, France and Torrington, yet those places may only exist in their dreams. Why not replace those dreams with actual dreamlike experiences that will also help improve your company and your sales of the brands you want to sell?
Chapter 2: Hi-Ho Hello: Who Do You Want to Love?
After this experience, we decided to watch our manufacturer representatives and see how they worked in our showrooms.
Some would go straight to the purchasing agent, check to see if there were any issues, then wander around the showroom, wave at me and leave.
Others would make an appointment with me. We would chat a bit about what is new with their product lines. What is going on in their territory and say au revoir. On their way out they would stop by to talk with the purchasing team, wander through the showrooms and leave.
Then there were those that waved at me, spent time with the purchasing people and then hit the sales floor. They would take great care not to interrupt or waste the showroom salesperson’s time, but they made sure to greet each salesperson and quickly ask if they needed any help or had any questions. That was it. They knew that it fried my bananas if a rep distracted a salesperson from their job with chit-chat, that’s why we had off the floor, weekly product knowledge meetings focusing on key brands. But, they did know I encouraged saying a quick hello and seeing if there were any issues to address.
So which reps’ lines did the best? Pretty obvious.
If you are a manufacturer or the local sales representative please understand, it is the salesperson on the floor or on the road that makes your brand strong. Your brand can wine and dine non-selling management and make the purchasing agents dance with glee, but if you do not support, properly educate and respect the people who actually presented your products to the designer, builder, plumber and homeowner, you will not be a strong brand in that or any showroom.
Vendors, sales representatives, you have so much to cover and so little actual face time with these key salespeople. Before you enter the showrooms, know whom you need to talk to and follow that guide. Sure, you will be sidetracked, but work to stay on plan and touch base with those people that you want and need to promote your brand. The owners and managers still need to be addressed, but without the key salespeople fighting for you, you will struggle mightily.
Friday, August 21, 2020
iPlate Flush Plate by OLI – Distributed brand by AD Waters.
The versatile iPlate by OLI is one of the latest innovations in the world of flush plates. The plate is offered in polished chrome, matte chrome, white, and in black soft touch. Aside from it’s sleek design, the push buttons can be personalized with a variety of colours anytime after installation with the Elegance kit, which includes 5 color options: polished chrome, matte chrome, black soft touch, white and taupe. OLI, Portuguese world renowned manufacturer of in-wall toilet carriers and flush plates, allows you to expand your design options in an easy one click replacement. That’s all it takes!
Are Showrooms Still Relevant?
COVID-19 caused most every decorative plumbing and hardware showroom to pivot. Sheltering in place orders proved necessity is truly the mother of invention. Savvy operators held webinars that proved to be one of the showroom’s most effective marketing tools. Others developed templates for their clients to use to measure their bathroom space that enabled showroom professionals to develop preliminary recommendations. DPHA members learned to present plans and recommendations remotely, using video conferencing and screen sharing and conducted showroom tours via Zoom or Facetime.
With so many clients shopping from home, DPHA members learned that both social media and an improved web presence can be competitive differentiators and invaluable tools to reach customers who were sheltering in place.
Now that showrooms have re-opened, many DPHA members have adopted an “appointment only” model that has proven to be highly effective because prospects who make an appointment tend to be more serious. Appointment only has deterred the tire kickers. It also has reinforced the value of what the showroom brings to a client. It’s hard to visualize different finishes, dimensions or textures on a Zoom call. Plus, when customers experience vignettes, working displays and different product categories firsthand, a showroom serves as a source of creativity and inspiration that can’t be duplicated online or via Facetime.
Showrooms are not going away. A valuable pandemic lesson is that people still want to interact with people, face-to-face. At the end of the day, a decorative plumbing and hardware showroom is a service business. Customers who are willing to trust a showroom to renovate one of the most important rooms in their home expect a certain caliber of service otherwise they would go to a home center or order online. As Doug Stephens pointed out during his DPHA keynote address, there is nothing particularly satisfying or emotionally gratifying about shopping online. Purchasing on Amazon is the quickest way from wanting to receiving.
COVID-19 illustrates the value of upping a showroom’s digital presence. However, most customers want to see, touch and experience the products they select for their new baths firsthand and that can only be accomplished by visiting a showroom. When the COVID-19 crisis ends, showrooms will continue to be venues for exhibits, vignettes, social gatherings, education, information and experiences that customers desire.
With so many clients shopping from home, DPHA members learned that both social media and an improved web presence can be competitive differentiators and invaluable tools to reach customers who were sheltering in place.
Now that showrooms have re-opened, many DPHA members have adopted an “appointment only” model that has proven to be highly effective because prospects who make an appointment tend to be more serious. Appointment only has deterred the tire kickers. It also has reinforced the value of what the showroom brings to a client. It’s hard to visualize different finishes, dimensions or textures on a Zoom call. Plus, when customers experience vignettes, working displays and different product categories firsthand, a showroom serves as a source of creativity and inspiration that can’t be duplicated online or via Facetime.
Showrooms are not going away. A valuable pandemic lesson is that people still want to interact with people, face-to-face. At the end of the day, a decorative plumbing and hardware showroom is a service business. Customers who are willing to trust a showroom to renovate one of the most important rooms in their home expect a certain caliber of service otherwise they would go to a home center or order online. As Doug Stephens pointed out during his DPHA keynote address, there is nothing particularly satisfying or emotionally gratifying about shopping online. Purchasing on Amazon is the quickest way from wanting to receiving.
COVID-19 illustrates the value of upping a showroom’s digital presence. However, most customers want to see, touch and experience the products they select for their new baths firsthand and that can only be accomplished by visiting a showroom. When the COVID-19 crisis ends, showrooms will continue to be venues for exhibits, vignettes, social gatherings, education, information and experiences that customers desire.
In Case You Missed It: The 19th Annual DPHA Conference is Going Virtual!
DPHA is taking the 19th Annual Conference and Product Showcase VIRTUAL! While we are saddened that we will not be able to gather in-person this year, we are excited to be able to launch DPHA CONNECT 2020. Held during our original conference dates of October 22nd + 23rd, DPHA CONNECT will allow our membership to still obtain all the benefits offered at our in-person events but from the safety of your own home or office.
The best part - there is no travel required this year! With a registration cost of $135 and no travel fees, this is the year for your whole team to get involved. A swag bag with some goodies will be sent to the first 250 registrants, so don't delay! If you are registering five or more people from the same company, please reach out to staff.
Barclay Products Launches New Timon Freestanding Resin Tub.
Remarkable Timon features a trendy modern design, comfortable soaking capacity, and an elegant white finish; this tub will meet and exceed all expectations.
It has a durable resin construction that upholds Barclay's high standards of craftsmanship. The solid surface can give a lifetime of maintenance-free and lasting beauty. The advantage of a solid surface bathtub is its non-porous and anti-stain surface and seamless construction.
It has a durable resin construction that upholds Barclay's high standards of craftsmanship. The solid surface can give a lifetime of maintenance-free and lasting beauty. The advantage of a solid surface bathtub is its non-porous and anti-stain surface and seamless construction.
Mountain Plumbing Products Offers Strainers to Match Any Kitchen.
You have just installed a new kitchen sink, but are not satisfied with the standard sink strainer that your plumber provided. Amazingly, Mountain Plumbing offers multiple designs of sink strainers with basket options depending on your exact needs and style preferences. Select designs with lift-out baskets, stemball strainers, and stoppers.
Additionally, a variety of both metal and plastic finishes are available to match virtually any type of sink. The metal finishes lend themselves more to metal sinks for a perfectly crisp, tied-together look. The plastic finishes are perfect for matching stone or composite sinks for a completely different feel with more colors.
Additionally, a variety of both metal and plastic finishes are available to match virtually any type of sink. The metal finishes lend themselves more to metal sinks for a perfectly crisp, tied-together look. The plastic finishes are perfect for matching stone or composite sinks for a completely different feel with more colors.
Kalco's New Summer 2020 Introduction: Bistro.
New DPHA member Kalco Lighting recently launched its Summer 2020 new lighting collections, which showcase a variety of quality-made, thoughtfully-curated design styles. One of Kalco’s standout collections from the Summer launch is Bistro, which is a lively re-imagining of Mid-Century Modern fixtures. The 6-or-8 light chandelier, with its long stems punctuated by glass orbs is perfect for dining rooms, billiard/game rooms, entry and family rooms. The matching Wall Sconce stands as a silent sentry and complements its chandelier offerings. Polished Nickel finish with glass orbs.
Everything is an Opportunity. By Stephanie Azran, SH Design-Build
Even if things seem challenging right now, decorative plumbing showrooms have always been in it for the long haul. The industry has seen many challenges over the years and weathered them all. This pandemic is no exception.
These past few months, retailers have been adjusting to a major shift in consumer habits. Researchers have been scrambling to track and analyze how people are shopping online and in-store. Changing the way you sell or market to clients based on trends, especially such new ones, may lead to unsustainable sales practices. On the other hand, there’s no doubt that some ‘trends’ may actually be long-term solutions that will improve customer service and sales long after the pandemic is over.
So what’s new for consumers? People are more mindful about their spending. They are often purchasing less expensive products. They’re researching more before buying. Supply chain disruptions have led people to explore different options when they can’t find what they want- meaning they are open to trying new brands and stores.
When choosing where to shop in person, research is showing that shoppers look for places with visible safety measures in place (enhanced cleaning and physical barriers, for example). More than this, people are turning to brands that show they care for the health and safety of their clients and employees.
Decorative plumbing showrooms already have an edge. Cleanliness and spaciousness have been watchwords for years now. If shoppers are going to feel safe anywhere, it’s in a kitchen and bath showroom.
And now, showrooms can really step it up by offering the products that people want to make their own lives safer and healthier. People are interested in touchless technology in faucets, showers and toilets, as well as products that make cleaning and sanitizing easier.
With the consumer browsing mentality out of the way, showroom salespeople have an opportunity to interact with their clients in a more meaningful way. It’s time to have lots of options at the ready, at several price points. Additionally, if shoppers are more committed to purchasing, it’s a chance to present quality, durable products they will not be able to get anywhere else. As for pre-shopping research, showrooms can optimize their online presence to get in on the first stage of the buying journey. That kind of authority inspires confidence and leads them to the showroom when they are ready to make their final decision. Once a client is in a showroom with experienced, knowledgeable salespeople who truly want to help, the battle is won.
There’s plenty of research out there to help adapt to pandemic selling and shopping. But at the end of the day, we know what really matters in the kitchen and bath showroom world. It’s turning everything, no matter how difficult, into an opportunity to succeed.
These past few months, retailers have been adjusting to a major shift in consumer habits. Researchers have been scrambling to track and analyze how people are shopping online and in-store. Changing the way you sell or market to clients based on trends, especially such new ones, may lead to unsustainable sales practices. On the other hand, there’s no doubt that some ‘trends’ may actually be long-term solutions that will improve customer service and sales long after the pandemic is over.
So what’s new for consumers? People are more mindful about their spending. They are often purchasing less expensive products. They’re researching more before buying. Supply chain disruptions have led people to explore different options when they can’t find what they want- meaning they are open to trying new brands and stores.
When choosing where to shop in person, research is showing that shoppers look for places with visible safety measures in place (enhanced cleaning and physical barriers, for example). More than this, people are turning to brands that show they care for the health and safety of their clients and employees.
Decorative plumbing showrooms already have an edge. Cleanliness and spaciousness have been watchwords for years now. If shoppers are going to feel safe anywhere, it’s in a kitchen and bath showroom.
And now, showrooms can really step it up by offering the products that people want to make their own lives safer and healthier. People are interested in touchless technology in faucets, showers and toilets, as well as products that make cleaning and sanitizing easier.
With the consumer browsing mentality out of the way, showroom salespeople have an opportunity to interact with their clients in a more meaningful way. It’s time to have lots of options at the ready, at several price points. Additionally, if shoppers are more committed to purchasing, it’s a chance to present quality, durable products they will not be able to get anywhere else. As for pre-shopping research, showrooms can optimize their online presence to get in on the first stage of the buying journey. That kind of authority inspires confidence and leads them to the showroom when they are ready to make their final decision. Once a client is in a showroom with experienced, knowledgeable salespeople who truly want to help, the battle is won.
There’s plenty of research out there to help adapt to pandemic selling and shopping. But at the end of the day, we know what really matters in the kitchen and bath showroom world. It’s turning everything, no matter how difficult, into an opportunity to succeed.
Friday, August 14, 2020
New Member Spotlight: Meet Kalco Lighting
For 40 years, Kalco Lighting has been crafting and designing lighting for residential, commercial and contract projects. The brand’s vast collection of pendants, sconces, chandeliers, flush mounts and exterior fixtures each convey a spark of livability by effortlessly fusing together timeless styles, authentic materials, artisan craftsmanship and a human approach to technology. The two brands under the Kalco design umbrella; Kalco Lighting and Allegri Crystal as well as their collection called The Hollywood Reporter Home, each showcase Kalco’s unique ability to create functional, differentiated and artistic lighting for audiences seeking products whose designs transcend time. In Kalco’s quest to deliver a superior experience to its clients, the brand offers a large inventory of standard collections, design modification capabilities to existing designs, and custom lighting capabilities to fulfill any design vision.
DDI System Hosting Live Webinar as Part of Summer Series Virtual Event.
DDI System combines ERP functionality together with leading-edge eCommerce, CRM, and mobile phone operations in a single solution. Join the webinar Tuesday, August 18, 2020 at 1:00 PM EDT and see how DDI can support your entire team in delivering personal and successful customer experiences that incite loyalty for new and repeat business.
Michael Risser Announced as President of Frank Allart & Co in North America.
Following the accomplished growth in Frank Allart's robust product line, streamlined production, dedicated cutting edge machines, and the desire to always reach higher, Frank Allart has become the luxury hardware company the trade industry deserves. With that accomplished, Frank Allart is committed to broaden and deepen its relationship across North America. To achieve this objective, they are excited to announce the addition of Michael Risser as President of Frank Allart & Co. in North America. After over 15 years in the industry, in both manufacturing and in a showroom, Michael is eager to preserve the legacy of Frank Allart while also navigating the company to its next chapter.
Michael can be reached at michael@frankallart.com
Michael can be reached at michael@frankallart.com
hansgrohe Introduces New Decorative Finishes.
Introducing 3 new finish options to the Talis E collection: Matte Black, Brushed Black Chrome and Brushed Bronze. These exciting new finishes are available now in lavatory faucets, roman tub fillers and come in corresponding shower products to complete your new bathroom.
Don’t forget about the Kitchen either. The classic Talis C Kitchen faucet is now available in Matte Black!
Look for a new digital brochure coming this month. It will encapsulate this new finish offering to the Talis E collection and more finish extensions coming to other hansgrohe collections and products.
Don’t forget about the Kitchen either. The classic Talis C Kitchen faucet is now available in Matte Black!
Look for a new digital brochure coming this month. It will encapsulate this new finish offering to the Talis E collection and more finish extensions coming to other hansgrohe collections and products.
CEU Events® Announces Collaboration with HKS.
CEU Events is honored to be recognized as a solution by the HKS Learning Team.
The Psychology of Money
Morgan Housel, a venture capitalist and blogger, recently penned a new book to be published next month, The Psychology of Money. In it, he notes, "Money isn't primarily a store of value. Money is a conduit of emotion and ego, carrying hopes and fears, dreams and heartbreak, confidence and surprise, envy and regret.”
Housel relates two stories. One involved a person who made a fortune and who skipped gold coins worth thousands of dollars across waves in the ocean, "just for fun." To him, Housel claims, money was a plaything (he subsequently went broke). The second story involved a modest man whose life work was as a gas station attendant and janitor. When he died at the age of 92, his estate was worth more than $6 million that he gifted to local charities. Housel asks, how did a janitor “with no college degree, no training, no background, no formal experience and no connection massively outperform” many professional investors?
The answer points to one of Housel’s conclusions. You don’t have to be a rocket scientist to be a successful investor. It takes patience and a willingness to defer gratification. You need to be able to withstand market volatility. Housel uses Netflix and Monster Beverage as examples of the benefit of patience. If you invested $1,000 in Netflix in 2002, by 2018 your Netflix stock would be worth $3.5 million. If you made the same investment in Monster Beverage in 1995, by 2018 your stock would be worth $30 million. During those time frames, each stock spent 94% of its time below its all-time high.
Housel considers market volatility a fee for the cost of investing. No one knows that better than Warren Buffet, the Oracle of Omaha, who is regarded as one of the savviest investors of all time. Housel discovered that Buffet accrued at least 95% of his wealth after his 65th birthday. Buffet recently celebrated his 90th. If Warren Buffet had only invested for a 30-year time period, his net worth would be 99.9% less than it is today. Buffet’s “skill is investing, but his secret is time,” Housel writes.
Luck is another major determinant of long-term returns, greatly influenced by your date of birth. If you were born in 1950, between the ages of 13 and 30 your investments earned next to nothing. If you were born in 1970, you would have earned nine times more than those born in 1950 during that same age span. If you are a millennial born in 2000, you will have to save much more than your parents.
Housel makes the distinction between being rich and being wealthy. Rich people make a lot of money. Wealthy people have the freedom not to spend. Many rich people are not wealthy because they feel the need to spend to impress others. Wealthy people don’t care about what others think. What’s important to them is using their resources to control how they spend their time.
Housel relates two stories. One involved a person who made a fortune and who skipped gold coins worth thousands of dollars across waves in the ocean, "just for fun." To him, Housel claims, money was a plaything (he subsequently went broke). The second story involved a modest man whose life work was as a gas station attendant and janitor. When he died at the age of 92, his estate was worth more than $6 million that he gifted to local charities. Housel asks, how did a janitor “with no college degree, no training, no background, no formal experience and no connection massively outperform” many professional investors?
The answer points to one of Housel’s conclusions. You don’t have to be a rocket scientist to be a successful investor. It takes patience and a willingness to defer gratification. You need to be able to withstand market volatility. Housel uses Netflix and Monster Beverage as examples of the benefit of patience. If you invested $1,000 in Netflix in 2002, by 2018 your Netflix stock would be worth $3.5 million. If you made the same investment in Monster Beverage in 1995, by 2018 your stock would be worth $30 million. During those time frames, each stock spent 94% of its time below its all-time high.
Housel considers market volatility a fee for the cost of investing. No one knows that better than Warren Buffet, the Oracle of Omaha, who is regarded as one of the savviest investors of all time. Housel discovered that Buffet accrued at least 95% of his wealth after his 65th birthday. Buffet recently celebrated his 90th. If Warren Buffet had only invested for a 30-year time period, his net worth would be 99.9% less than it is today. Buffet’s “skill is investing, but his secret is time,” Housel writes.
Luck is another major determinant of long-term returns, greatly influenced by your date of birth. If you were born in 1950, between the ages of 13 and 30 your investments earned next to nothing. If you were born in 1970, you would have earned nine times more than those born in 1950 during that same age span. If you are a millennial born in 2000, you will have to save much more than your parents.
Housel makes the distinction between being rich and being wealthy. Rich people make a lot of money. Wealthy people have the freedom not to spend. Many rich people are not wealthy because they feel the need to spend to impress others. Wealthy people don’t care about what others think. What’s important to them is using their resources to control how they spend their time.
Monday, August 10, 2020
Mistakes to Avoid when Selling Virtually: by DPHA Fellow Hank Darlington
Many showrooms are including virtual selling and showroom tours during these unusual times. It’s a great way to keep your name, products and services in front of potential clients in a time where people aren’t as comfortable shopping in stores.
Showrooms have a unique challenge to try and out-market or outsell their competitors. You need to find ways to engage clients in conversations and try to connect with the individual person. Both sellers and buyers are experiencing their own unique struggle in how to make this connection.
As many of you start to experiment with virtual communication, you need to be aware that there are a lot of mistakes or problems that can occur that would turn off the client and send them to a competitor.
A June 2020 survey from Rain Group found that buyers (defined as influencers and decision makers who purchase goods and services) noticed a host of issues when being “pitched” virtually. 89% of the respondents cited “experiencing technology problems “ as the leading virtual selling mistake. This is a hard problem to avoid, as internet outages can be out of our control. Even CNN guests and reporters have glitches with their videos.
Roughly 8 -10 buyers cited poor visuals during online meetings, issues with responsiveness and preparedness, and a lack of presentation skills as other top mistakes. These responses indicate that buyers notice the level of organization and professionalism from sellers, who must adapt to this new normal as remote work continues amid the pandemic. These mistakes are much easier to avoid by preparing and practicing.
Following is a chart that reflects the mistakes that buyers experienced while engaging in virtual selling:
Hopefully, being aware of these common mistakes will help you avoid them in your virtual selling efforts.
Showrooms have a unique challenge to try and out-market or outsell their competitors. You need to find ways to engage clients in conversations and try to connect with the individual person. Both sellers and buyers are experiencing their own unique struggle in how to make this connection.
As many of you start to experiment with virtual communication, you need to be aware that there are a lot of mistakes or problems that can occur that would turn off the client and send them to a competitor.
A June 2020 survey from Rain Group found that buyers (defined as influencers and decision makers who purchase goods and services) noticed a host of issues when being “pitched” virtually. 89% of the respondents cited “experiencing technology problems “ as the leading virtual selling mistake. This is a hard problem to avoid, as internet outages can be out of our control. Even CNN guests and reporters have glitches with their videos.
Roughly 8 -10 buyers cited poor visuals during online meetings, issues with responsiveness and preparedness, and a lack of presentation skills as other top mistakes. These responses indicate that buyers notice the level of organization and professionalism from sellers, who must adapt to this new normal as remote work continues amid the pandemic. These mistakes are much easier to avoid by preparing and practicing.
Following is a chart that reflects the mistakes that buyers experienced while engaging in virtual selling:
- Experiencing technology problems 89%
- Using poor or no visuals during the online meeting 86%
- Not responsive to my questions or concerns 84%
- Not prepared 83%
- Lacking presentation skills 80%
- Sending poorly written emails 80%
- Distracted by people, external disturbances 77%
- Making an unprofessional impression 75%
Hopefully, being aware of these common mistakes will help you avoid them in your virtual selling efforts.
Friday, August 7, 2020
Tips for Communicating While Wearing Face Masks.
One of the biggest complaints about wearing masks is that it hinders communication. From a young age, we are taught the importance of nonverbal communication. The mouth region shows emotions better than anything else. There are 19 different types of smiles, for example. Smiles can reflect happiness, fear, embarrassment and pain, among other emotions. So how do we communicate those emotions while wearing face masks, and how can we translate this to business interactions?
Here are some tips for communicating while protecting yourself and others by wearing a mask:
Here are some tips for communicating while protecting yourself and others by wearing a mask:
- Body language is key to effective communication and serves to create first impressions with your clients. Relax your shoulders and try not to cross your arms. You want to appear as welcoming and relaxed. We often show this by smiling, but clients and customers won’t be able to see your smile under your mask.
- Smile anyway. While masks cover up the smile itself, a genuine smile will make its way to your eyes. Happiness can be seen by raised eyebrows, raised cheeks and those dreaded crow’s feet.
- Watch your tone of voice. Tone can be just as impactful as the words you use. Things may be busy and stressful right now but try not to let it be reflected in your voice. Consider speaking with more vocal inflection to better get your point across.
- Carefully select your words. While non-verbal communication is extremely important, our emotions are going to be a bit more hidden under a mask.
- Don’t be afraid to talk with your hands. Hand gestures can increase the retention of information presented.
Wednesday, August 5, 2020
New Member Spotlight: Meet Ridgeline.
Ridgeline's goal is to set a superior standard of representation in the Pacific Northwest, providing sales support to professionals in our industry through relationships and knowledge.
Founded in 2008, their plumbing, mechanical and HVAC business plan has had a unique acceptance within the industry. Ridgeline’s relationships throughout the Pacific Northwest have become very valuable to wholesalers, as they have worked in all facets of the wholesale industry and understand the challenges wholesalers face and can provide the necessary support.
Ridgeline has recently expanded into the luxury/showroom side of the business by bringing on Jennifer Gurley as the Luxury Division Director. In just a short time, Jennifer and the Ridgeline team are very proud to have added several manufacturers to their luxury line card, including DPHA Members Franz Viegener and Warmup.
Founded in 2008, their plumbing, mechanical and HVAC business plan has had a unique acceptance within the industry. Ridgeline’s relationships throughout the Pacific Northwest have become very valuable to wholesalers, as they have worked in all facets of the wholesale industry and understand the challenges wholesalers face and can provide the necessary support.
Ridgeline has recently expanded into the luxury/showroom side of the business by bringing on Jennifer Gurley as the Luxury Division Director. In just a short time, Jennifer and the Ridgeline team are very proud to have added several manufacturers to their luxury line card, including DPHA Members Franz Viegener and Warmup.
Ridgeline is not here to reinvent the wheel, but to make it run smoother and more efficiently. In addition to working with wholesalers, they understand the needs engineers, architects and designers have for value-adding sales calls.
The Ridgeline team consists of individuals with broad industry knowledge. The outside sales team resides throughout our territory in Anchorage, Seattle, Portland, Spokane/Couer d’ Alene, and Bozeman. They travel extensively to ensure they cover their territories and provide their clients with the best representation. The entire team works closely together to share information and discuss the industry on a regular basis. This has been extremely important with the current state of the world and they are remaining relevant to their customers, maintaining relationships, and creating new ones.
About Jennifer:
To expand into the luxury and showroom segment of our business, Jennifer Gurley has joined our team with 20 years of industry experience and a full understanding of a luxury representative’s role from her last position in Florida. Jennifer maintained relationships not only in the 22 showrooms she was solely responsible for on the West Coast of FL, but also worked closely with the entire team (luxury and commercial) for the entire state of FL to create new relationships. Jennifer graduated from The College of Architecture and Design at Auburn University and is a Designer with concentration on Kitchen and Bath design. The combined experience we have as a growing team will allow the ease of establishing and continuing relationships within the Design community as well as architects, engineers, distributors, contractors, and manufacturers.
The Ridgeline team consists of individuals with broad industry knowledge. The outside sales team resides throughout our territory in Anchorage, Seattle, Portland, Spokane/Couer d’ Alene, and Bozeman. They travel extensively to ensure they cover their territories and provide their clients with the best representation. The entire team works closely together to share information and discuss the industry on a regular basis. This has been extremely important with the current state of the world and they are remaining relevant to their customers, maintaining relationships, and creating new ones.
About Jennifer:
To expand into the luxury and showroom segment of our business, Jennifer Gurley has joined our team with 20 years of industry experience and a full understanding of a luxury representative’s role from her last position in Florida. Jennifer maintained relationships not only in the 22 showrooms she was solely responsible for on the West Coast of FL, but also worked closely with the entire team (luxury and commercial) for the entire state of FL to create new relationships. Jennifer graduated from The College of Architecture and Design at Auburn University and is a Designer with concentration on Kitchen and Bath design. The combined experience we have as a growing team will allow the ease of establishing and continuing relationships within the Design community as well as architects, engineers, distributors, contractors, and manufacturers.
VISIT RIDGELINE'S WEBSITE (New Website Coming Soon!)
Buster + Punch Expands Door Hardware Offerings with New DOOR KNOB Collection.
Industria by Italian Bathware - Distributed by AD Waters.
Industria, the prêt-à-porter collection by Italian Bathware draws its name from the industrial lines that characterize the faucet’s silhouette. The collection proposes five trendy finishes to choose from, polished chrome, brushed nickel, brushed gold, black polished chrome and matt black. The faucet can either be ordered in a single finish or in a combination of two selected colors to obtain a customized two-tone faucet. Industria is the perfect ally to personalize your space like no other decorative object.
Hasting's Urban Collection Includes Four New Vessel Sinks.
Urban Morris |
High on style and low on maintenance, the Urban Morris Solid-Surface vessel basins are a perfect solution. Available in Matte or Gloss White. The drain cover tray is available in all HPL and Fenix finishes to coordinate with the countertops. The look is as if you are looking through the sink to the countertop. Urban Blade basins are made from sleek and durable ceramic and available in 5 colors.
Barber Wilsons Launches New Branding + Website.
London-based Barber Wilsons & Company is proud to announce the launch of its newly redesigned logo and website. The new logo is modern and streamlined to coordinate with the brand’s new site, which features improved functionality, and quick access to essential information on their stunning product line up.
The improved website showcases Barber Wilsons’ faucets, showers, and bath accessories with brilliant photography that will inspire the imagination. Each product is listed with a description, finish options, indice specification, and technical information sheets, that include dimensions and specific installation requirements. A convenient new search guide makes it easy to navigate Barber Wilsons & Company’s extensive collections and find just the right fitting for any wet environment.
The improved website showcases Barber Wilsons’ faucets, showers, and bath accessories with brilliant photography that will inspire the imagination. Each product is listed with a description, finish options, indice specification, and technical information sheets, that include dimensions and specific installation requirements. A convenient new search guide makes it easy to navigate Barber Wilsons & Company’s extensive collections and find just the right fitting for any wet environment.
Tuesday, August 4, 2020
Pandemic Problems? Sure, But We Have Hope, Lots & Lots of HOPE: By Jeffrey Valles, Colonial Bronze
Time and time again we hear that hope is not a strategy and should have no part in day-to-day planning. With all that said and noted, a business without hope will slowly shrivel and die.
No matter how well constructed, financed and staffed, all businesses will go through times of trouble. Markets will realign, products will lose their delight and a pandemic can shut down an entire economy. Twice. These incidents can take even the finest sculpted business and throw it straight into a hurricane of uncertainty. This is when owners and managers must have hope; lots and lots of hope. It is in these times when talented leaders throw off the shackles of logic and fight to keep their companies alive, their employees confident and their customers engaged. This is no easy feat, but one’s hope for the future drives them to do anything to make that future possible. It’s what small business owners have been doing for centuries.
Hope plus love of the business, commonly referred to as passion, gives one the blind energy to fight against all odds. But with all of hope’s inspiring benefits, we cannot let hope get in the way of doing smart work. Hope fuels us. Talent, hard work and a bit of luck will make the day great
Hope for the best and plan for reality.
As your hope for the future helps dull the sting of the pandemic’s resurgence, it is a good time to check in and learn how your employees and customers are faring. As Covid-19 looked to be decreasing, we were beginning to see the light and then WHAM! Going backward is never easy. It makes us feel helpless and ungrounded with no idea of what is coming next. Now, owners and managers need to reach out and leverage their hope for all to see. Help those in your business world find a grounding in the day-to-day work. Help both your employees and customers locate and capture the opportunities that remain.
No one really wants to be left alone in times like these. They might not be looking for a party pal, but they are looking for a trusted business partner when together both parties are stronger. Once again, let’s not over think this. Management’s job is to place its employees in the best possible position to succeed and support our customers in their business endeavors. The more we listen, chat with and observe our employees and customers, the better partner our brand will be. When this is carried out successfully, employees will remain engaged in what benefits them and the company versus fixating on the global gloom. This focus will allow them to effectively listen, chat with and observe your customers and help them navigate these bizarre times.
Hope is a unique superpower for management. Like any superpower, if applied too often it loses its might and if taken for granted it can deceive us but when used effectively, we can bring down giants.
Do we thank Pandora or…?
No matter how well constructed, financed and staffed, all businesses will go through times of trouble. Markets will realign, products will lose their delight and a pandemic can shut down an entire economy. Twice. These incidents can take even the finest sculpted business and throw it straight into a hurricane of uncertainty. This is when owners and managers must have hope; lots and lots of hope. It is in these times when talented leaders throw off the shackles of logic and fight to keep their companies alive, their employees confident and their customers engaged. This is no easy feat, but one’s hope for the future drives them to do anything to make that future possible. It’s what small business owners have been doing for centuries.
Hope plus love of the business, commonly referred to as passion, gives one the blind energy to fight against all odds. But with all of hope’s inspiring benefits, we cannot let hope get in the way of doing smart work. Hope fuels us. Talent, hard work and a bit of luck will make the day great
Hope for the best and plan for reality.
As your hope for the future helps dull the sting of the pandemic’s resurgence, it is a good time to check in and learn how your employees and customers are faring. As Covid-19 looked to be decreasing, we were beginning to see the light and then WHAM! Going backward is never easy. It makes us feel helpless and ungrounded with no idea of what is coming next. Now, owners and managers need to reach out and leverage their hope for all to see. Help those in your business world find a grounding in the day-to-day work. Help both your employees and customers locate and capture the opportunities that remain.
No one really wants to be left alone in times like these. They might not be looking for a party pal, but they are looking for a trusted business partner when together both parties are stronger. Once again, let’s not over think this. Management’s job is to place its employees in the best possible position to succeed and support our customers in their business endeavors. The more we listen, chat with and observe our employees and customers, the better partner our brand will be. When this is carried out successfully, employees will remain engaged in what benefits them and the company versus fixating on the global gloom. This focus will allow them to effectively listen, chat with and observe your customers and help them navigate these bizarre times.
Hope is a unique superpower for management. Like any superpower, if applied too often it loses its might and if taken for granted it can deceive us but when used effectively, we can bring down giants.
Do we thank Pandora or…?
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