Kitchen & Bath Design News

JUN 2018

Kitchen & Bath Design News is the industry's leading business, design and product resource for the kitchen and bath trade.

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June 2018 • 23 LEAH: Right! They would have received the laser-like advice, direction and support from industry-specific business coaches and peers to make changes and stay afloat. It's a shame because they would be killing it today. Anything else you consider to be an import- ant competitive advantage? KEN: Yes, automation. Our highly segmented kitch- en and bath industry is one that technology has left be- hind. What businesses need is a program that greatly im- proves team productivity and operating efficiencies, speed- ing up the sale, ordering and production of kitchens and baths. Technology like that can attract smart, young talent into the industry, boost revenue by three to five times and rocket profitability into the next stratosphere – a decided advantage! That kind of ground-breaking auto- mation is just being made available. LEAH: I count then six critical advantages: finan- cial know-how; purchasing power; higher gross profit margins; sales profession- alism; strategic community, and automation. Can we call them the six unfair competi- tive advantages? KEN: Absolutely. Unfair because when a kitchen and bath firm deploys them simultaneously, they will zoom past the competition and into a zone of prosperity no dealer has ever experi- enced before. When the new technology really kicks in, the 18-20% potential owner's return will probably need a revised percentage range. I think it could be considerably higher. ▪ Ken Peterson, CKD, is founder and president of the SEN Design Group, the industry's first buying and business development group. Leah Peterson joined her father in 2013 after a decade in corporate sales and marketing; she is now the company's executive v.p. Repre- senting both industry-specific and corporate business experiences, as well as different generational points of view, Peterson & Peterson address a variety of industry issues for KBDN in their quarterly col- umn, NextGen Business Matters. For more information on the upcoming 4-Day Business School or BIZCON Conference, contact Leah at lpeter- (1-800-991-1711). The Petersons welcome comments, questions or concerns. Read past columns and features and send us your comments about this article and others at SPEED. ACCURACY. INTEGRATION. MOBILITY. KCD Software 3D Drawing Design-build by the webhannet Co. using KCD Software's CnC Commander with one Button Machining INSPIRED DESIGN TO MANUFACTURED bEAUTy Software You Can Build On. TM I 508.760.1140 • Free live tech support • No annual maintenance fees • Optional upgrades • No contracts BootH 1642 Circle No. 13 on Product Card

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