R
I have a good problem! Looking for feedback/advice
- Thread starter lws380
- Start date
So far I have given a little information in the form of PM's. I will go a little more public now. As a small business owner I will tell you there are a number of things that will cure your current situation in one form or another. I am not saying any of these are the magic bullet. Just laying a few out.
* Raising prices a little each year will eventually slow the "growth" of the business.
* Lengthy waits for products. Just saying the customer will wait for the quality product is largely false. We are Americans. We don't want it fast. We want it now. Yes, some will wait. Most will not if the wait gets to long. Also, the problem is as long as the business is "growing" so is the lead/wait time. Waiting a while on a "custom" product makes it seem exciting......up to a point. Then it becomes "Don't buy from that guy. You will never get what you ordered".
* Poor quality, either in materials or work. You want to slow the growth of your business. Go cheap.
* Be rude or disrespectful to your customers. Never fails.
This is not an exhaustive list by any means. Just a few ways to slow down your business. When you start to look at the ways to "slow down a business" there just are not that many ways to do it. You have to find the one (or ones) that make sense to you. OR........you have to get some help for the grunt work and paper work.
One last thing. You need to read the book the E Myth. Much of it may not transfer to your business but I flat out know it will help you think more clearly about your business. Good luck.
* Raising prices a little each year will eventually slow the "growth" of the business.
* Lengthy waits for products. Just saying the customer will wait for the quality product is largely false. We are Americans. We don't want it fast. We want it now. Yes, some will wait. Most will not if the wait gets to long. Also, the problem is as long as the business is "growing" so is the lead/wait time. Waiting a while on a "custom" product makes it seem exciting......up to a point. Then it becomes "Don't buy from that guy. You will never get what you ordered".
* Poor quality, either in materials or work. You want to slow the growth of your business. Go cheap.
* Be rude or disrespectful to your customers. Never fails.
This is not an exhaustive list by any means. Just a few ways to slow down your business. When you start to look at the ways to "slow down a business" there just are not that many ways to do it. You have to find the one (or ones) that make sense to you. OR........you have to get some help for the grunt work and paper work.
One last thing. You need to read the book the E Myth. Much of it may not transfer to your business but I flat out know it will help you think more clearly about your business. Good luck.
I have been looking at your website and man, you really do make some nice products. I would never let myself forget why you got started in the first place. It is obvious that you take a lot of pride in your work. I have been in sales for my whole working career. There will always be those that will just buy cheap. There is the purchaser who will buy a pistol and regard it as just a pistol. Then their is the owner of a pistol, who takes PRIDE in his pistol. Funny, But I just realized that I did not even look at your prices. I'm sure what price you have now is very justified and worth it.
I think you may have become confused in your present dilemma because you want to please every one. Repeat the word that clearly addresses your products. CUSTOM,CUSTOM!
I also think maybe you feel you should raise prices because they are just worth it. I would agree. You cannot please everyone. You have a niche market and that market will wait and pay the price. Raise your price if you feel your current price is not level with the care you are putting into your custom craft. Don't ever get to the point of not enjoying your work. Quality will go down. And remember this "ONLY A RICH MAN CAN AFFORD TO BUY CHEAP". The guy still carrying your holster 20 years later, will probably not even remember how much he paid, but only that it was worth every nickle.
I think you may have become confused in your present dilemma because you want to please every one. Repeat the word that clearly addresses your products. CUSTOM,CUSTOM!
I also think maybe you feel you should raise prices because they are just worth it. I would agree. You cannot please everyone. You have a niche market and that market will wait and pay the price. Raise your price if you feel your current price is not level with the care you are putting into your custom craft. Don't ever get to the point of not enjoying your work. Quality will go down. And remember this "ONLY A RICH MAN CAN AFFORD TO BUY CHEAP". The guy still carrying your holster 20 years later, will probably not even remember how much he paid, but only that it was worth every nickle.
M
mukwah
Guest
One more thing, if you're going to put an estimated time for holster delivery, over estimate it. "Under promise, over deliver". If a customer sees 3 to 4 months, they'll remember 3 months, so set your time out further that you truly expect. This way the customer will be happy that they received their order earlier than expected. It's human nature.
Doug.....I know my son has an order in with you and is willing to wait to get it..... 
Most folks believe things will slow down and get back to normal so hang in there and do the best you can and just keep folks informed that good things are coming their way as soon a possible...
Most folks believe things will slow down and get back to normal so hang in there and do the best you can and just keep folks informed that good things are coming their way as soon a possible...
I visited with a local leather shop and asked where they found leather workers. As soon as I asked, several of the employees and the owner chimed in, "Good luck", and then told me about all their headaches with employees. Cant find anyone that has experience, people are not responsible and don't show up for work, and they are not reliable. If you find a good one they will learn from you and then leave and start their own business.
So then I asked the owner if he would be wiling to do some contract work for me? Nope, too busy, not interested.
So I left and did a little reflecting. I've decided I will not have employees at this time. I was very hesitant about adding employees and after talking with the other leather shop, they confirmed my fears. So it looks like it will be just be little old me for now.
I also advertise on a couple of forums. I think I will stop that advertising fairly soon. I think I have enough repeat business, and word of mouth referrals to keep me as busy as I want to be. Plus, I do ask people how they found me and many tell me it is from looking around on the internet. I realize I will likely lose some business by not advertising, but considering my back log, I'm not that concerned about it. Plus, I can always re-start advertising if needed. I did notice on that other forum there are only two holster makers listed as sponsors. I have not looked at that in a long time, but it looks like several of them bailed. I think they will be down one more fairly soon.
I will also be tweaking my prices some. Nothing real drastic, but more in line with some competitors that do comparable work. One example is that several competitors charge the same for a front or back pocket holster. I charge less for a front pocket than a back pocket, but will change that to the same cost since most of the work for a front pocket is close to the work needed for a back pocket.
Thanks for the feedback given.
So then I asked the owner if he would be wiling to do some contract work for me? Nope, too busy, not interested.
So I left and did a little reflecting. I've decided I will not have employees at this time. I was very hesitant about adding employees and after talking with the other leather shop, they confirmed my fears. So it looks like it will be just be little old me for now.
I also advertise on a couple of forums. I think I will stop that advertising fairly soon. I think I have enough repeat business, and word of mouth referrals to keep me as busy as I want to be. Plus, I do ask people how they found me and many tell me it is from looking around on the internet. I realize I will likely lose some business by not advertising, but considering my back log, I'm not that concerned about it. Plus, I can always re-start advertising if needed. I did notice on that other forum there are only two holster makers listed as sponsors. I have not looked at that in a long time, but it looks like several of them bailed. I think they will be down one more fairly soon.
I will also be tweaking my prices some. Nothing real drastic, but more in line with some competitors that do comparable work. One example is that several competitors charge the same for a front or back pocket holster. I charge less for a front pocket than a back pocket, but will change that to the same cost since most of the work for a front pocket is close to the work needed for a back pocket.
Thanks for the feedback given.
Think your plan is a good one bud. As long as you are happy with doing the holsters, and the demand stays consistent...you'll be fine. I don't think that you would be comfortable with a mass production business. You are always going to have a very loyal clientel, and all the business that you you want for a one man show. I love your work, and your friendship. Craig
As a businesss owner I don't like hearing stories about a person holding back the growth of a business that wants to grow. As a soon to be 50 year old dad......I get it.
I think you might find this story very interesting:
http://www.npr.org/blogs/money/2013/05/17/184502784/why-is-there-an-ammunition-shortage-in-the-u-s
http://www.npr.org/blogs/money/2013/05/17/184502784/why-is-there-an-ammunition-shortage-in-the-u-s
davevabch said:
I would agree with this theory for many products. For instance if I need a 16 oz Stanley hammer the hammer will be the same no matter where I buy it. However, for products that have some artistic element and various degrees of quality, this theory does not apply.
I had a customer ask me if my holsters were as good as Galco. I told him I thought they were indeed as good and better. He was a cop and said he always buys Galco, but would try mine. After he got it he called me and said my holster was twice as expensive as Galco, but ten times better quality. He said as long as I'm making holsters, he would never buy another Galco holster. Those are the type of customers I'm looking for. They recognize quality and are willing to pay for it. If someone holds my holster next to a Galco,they are likely to see the quality difference.
So I think I'm at a point where I will have enough of those customers to have all the business I want and then some. If I don't, I'm OK with that, as I don't rely on holsters to eat and do what I want anyway. I can just use the extra time to shoot, hunt, and fish more than I get to do now.
There you go Doug. Good thoughts. Ok...stop fishing and make me a holster for the SR1911!!!. (hehe)
I
iacountryboy
Guest
Doug, I haven't thanked you yet for the beautiful holster I got from you a few months ago about the same time I won the Belt and Concealed Caddie in the raffle. It is awesome as far as I'm concerned. It is broke in and I don't even notice it in my front pocket anymore. I would like to have one with the Elephant skin and monogrammed someday soon. I'll be expectin to be payin inflated prices and wait at least 6 months for it. It'll be worth it!
