Nobody benefits when profit is eliminated from the economic equation.

With the economy on the mend, a lot of people in the material handling industry are expecting good times without having to make any changes in the way they do business. Unfortunately, that means the continuation of one particular practice that played a major role in getting the economy in trouble a few years back.

When the “dot.coms” were flying high, they experienced rapid growth by the simple method of offering impossibly low prices and constant expansion into markets about which they knew nothing. They operated at a loss for years on end, promising investors that it would all turn around when they had achieved sufficient market share. Eventually, of course, this “lose a little on each deal but make it up in volume” business model blew up in their faces. The balloons popped, one by one, and the economy followed them down the tube.

In the material handling industry, this discredited business model is still very much in evidence. Too many companies have played the merger game, getting themselves involved in markets that they know nothing about. Too many have played the numbers game, moving money from one pocket to another to make themselves look good for one more quarter (this is called managing for stockholder value), totally forgetting about long-range planning.

Worst of all, too many companies have bought into the concept of forgoing profits in pursuit of market share, with the idea of becoming profitable once the competition is eliminated. It’s called “buying a job,” meaning submitting a bid that allows for little or no profit. Theoretically, this has two benefits. It gets you the job, which makes your sales figures (if not your profits) look impressive. More importantly, for some people, it prevents your competition from getting the job.
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Angel investor groups are acquiring better acknowledgment as primary patrons in early-stage industry, attaining eminent rankings in industry-related annual surveys of private equity investment firms for entrepreneurs.

Angel assets are an up-and-coming part of the financial order, similar in significance to venture capital in the Seventies, according to experts in the field. Angel groups are starting to be viewed with importance by the present financial companies.

An important angel investor group is the Band of Angels, a formal assemblage of 100 current and former high-tech executives who put in their time and money into fresh, progressive startup companies. Band members have established reputed companies like Symantec, Logitech, and National Semiconductor.

Angels are characteristically high-net-worth persons or “cashed out” entrepreneurs who are involved in nurturing other entrepreneurs and are vigorously associated with the ventures they support, both pre-funding and post-funding. Recently, a growing number of angels have come together to develop angel groups, with a view toward putting together capital and investment proficiency. There are an estimated 200 such angel investor organizations in the United States.
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Customer service, how I loathe thee. Let me count the ways. The never-ending loop of obnoxious hold music. The pressure to buy new products and services. The poor-quality, outsourced call to a distant land.

A call to customer service can be an infuriating ending to a frustrating experience. You’re upset and looking for empathy, but all you encounter is disappointment. Could Company X have done something differently? Probably, but if you follow these tips when dealing with customer service, you’ll be in the driver’s seat for the next dispute.

1. Be prepared.

Seems basic, right? Unless you’ve called Company X several times, you’re probably not familiar with their required information. Have every tracking number, account number, itemized statement, and order number before you call. Customer service representatives are held responsible for torturous call-handling metrics designed by masochistic management. Length of call, resolution (if the customer calls back to the company within an allocated amount of time), and randomly monitored calls are measured stringently. Bottom line: they want to help you quickly and completely, lest a superior crack a whip.
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Have you ever felt stuck in your career? Employee stress and burn out can account for a lot of dissatisfaction in your life. After all, you are at work some 8 hours a day or more. That’s 1/3 of your day if you don’t count sleep. That’s a long time to be dissatisfied.

If you feel stuck, here are 6 great ways to find your ideal career:

1. Brainstorm on a sheet of paper – I’ve talked about this before and it’s a strategy I use all the time. Take a pad of paper and write down at the top your objective in question form. Then, simply list out 20 answers to your question. For example, you could write “What should I be doing with my time and life?” Then stay seated for a half hour to an hour coming up with answers to that question. The key to this exercise is coming up with 20 answers – don’t quit until you have 20 answers. You can repeat every day until you get the answer you seek.

2. Ask 3 close friends – Sometimes our friends know us better than ourselves. While meeting with one of your friends, mention you are at a crossroads in your life and career. Ask what they think you’d enjoy doing. You might be surprised at how easily they can zero in to your strengths and abilities and report a perfect job area.

3. Ask your boss and coworkers – much like your friends in the example above, your boss and coworkers most likely see you in a way you do not see yourself. In fact, they are likely most familiar with your strengths and weaknesses in the work environment. Compile all the answers you get from them and see if there are any common threads you can explore.
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