SSI logo

52 Ways Firms Have Found Their Financial Footing

What's working to make security firms more profitable these days.

By ·

Welcome to our annual Bright Ideas Issue. The mission is to dig deep into all areas of the electronic installing and monitoring security systems and services business to compile the best possible industry intelligence to maximize the likelihood of achieving success. This is accomplished through the hallmark integrator executive roundtable, the Operations & Opportunities Report (OOR), and several technology- and sales-focused articles. Plus this year we’ve teamed up with Parks Associates to further up the ante with an additional research project zeroing in on residential systems. It’s all designed to help you close out this year with a bang and look ahead to strategize a sensational 2014.  

The cover line associated with the new OOR (page references 72% of survey respondents stating their companies are better off financially now than they were three years ago — strong evidence the recessionary foot is off most providers’ throats. Awesome news, right? But why exactly are these owners and managers feeling so much better about their solvency, profitability and prospects?

We asked just that as an open-ended question within the ORR. So let’s now take a look inside the numbers to find out what’s behind the resurgence. Note that these are only some of the responses among the hundreds of survey participants, with duplicate answers eliminated. See my Under Surveillance blogs online for more OOR analysis. 

Why is your company better off today than it was three years ago?

1. We have lowered our overhead by office relocation and reduced the number of poor performing employees.

2. We are always trying to improve and increase RMR.

3. Better training and more marketing. 

4. Clients are upgrading equipment.

5. More effective upper management.

6. Eliminated waste and bad practices, consolidated offices and functions.

7. Better leadership, improved employee morale, stronger team effort.

8. Improved management and larger size of projects.

9. Structured well for the industry moving into IP-oriented product lines and support.

10. Better management of our resources.

11. More RMR and a more streamlined approach.

12. Better processes in place to generate sales and deliver quality installations. 

13. Our revenues have reached a point where our overhead can be maintained and we have excess cash flow for growth.

14. Semi-retired and only do the jobs I want to and those that give good return.              

15. Overhead and vehicle expenses kept to a minimum.

16. Consistent work ethics.

17. Residential monitoring of well qualified customers creates long-term stability even through tough economic times.

18. Better market awareness.

19. Better CPA.

20. Better staffed and trained.

21. Partnered with a dealer program.

22. More repeat customers and more negotiated work.

23. We have completed our design stage and now have saleable services and products.

24. Stable, minimum debt.

25. Continued market growth based on reinvestment(s).

26. Separation of business units and a loss of national accounts business.

27. Staying focused on vertical markets.

28. Higher quality installations.

29. Improved sales and marketing.

30. Better managed financials.

31. Restructured leadership.

32. Theft is up.

33. Record performance in 2011 and 2012.

34. Advertising and marketing.

35. Overall rebounding economy.

36. Revenue and gross margin percentage is increasing.

37. Steady growth, greater market share, market consolidation.

38. We flexed when the market changed and saw new opportunities.

39. Our business is construction-based and construction business is booming!

40. In our security division we have grown our customer base by three times.

41. Newly implemented company structure and ownership.

42. Offering the newer technologies with an efficient operations manager.

43. Stronger culture focusing on customer expectations.

44. Increased training and product knowledge.

45. Automation software.

46. Company developed a good reputation for fast response to problems and quality installation practices.

47. Better sourcing and distribution.

48. Increasing work flow.

49. Equipment pricing has decreased, and we also carry only one-two lines of panels and don’t have a large inventory. 

50. Making strategic acquisitions.

51. Focusing on the cutting edge of IP integration has made us a market leader.

52. Working harder at cold customer sales.

Editor-in-Chief Scott Goldfine has spent nearly 15 years with SECURITY SALES & INTEGRATION. He can be reached at (704) 663-7125 or [email protected]

Article Topics
Business Management · Between Us Pros · Business · All Topics

About the Author
Scott Goldfine
Scott Goldfine is Editor-in-Chief and Associate Publisher of Security Sales & Integration, directing all editorial aspects of the magazine brand in print, electronically, online and in person. The voluminous, innovative and award-winning body of work he has distinguished himself with since joining the publication in 1998 includes groundbreaking research, landmark features, leadership roundtables, high profile case studies, and many industry exclusives. Well versed in the technical and business aspects of electronic security (video surveillance, access control, systems integration, intrusion detection, fire/life safety), Goldfine is a nationally known figure in demand as an industry presenter and subject matter expert to mainstream media. He is responsible for developing many unique products and programs, including the SSI Industry Hall of Fame, Control Panel (industry’s first E-mail newsletter), Police Dispatch Quality (PDQ), Marketing Marvel, Installers of the Year, Integrated Installation of the Year, Security Industry Census, Systems Integration Study, Installation Business Report, Operations & Opportunities Report, Commercial End-User Study and Security’s Fantastic Fleets. Recognized for his relationship building, integrity and lead-by-example ethic, Goldfine is a solutions-oriented team player who advises and collaborates with industry dealer/integrator, consultant, distributor, central station and manufacturer icons, luminaries and executive business leaders on a daily basis. He is also actively involved in several security events and organizations, including the Electronic Security Association (ESA), Security Industry Association (SIA), Security Industry Alarm Coalition (SIAC), False Alarm Reduction Association (FARA), PSA-Tec, SAMMY Awards, International Security Conference and Exhibition (ISC), Electronic Security Technology Summit (ESTS), Mission 500, Electronic Security Expo (ESX), ASIS Int’l, Honeywell CONNECT and other supplier conventions. Goldfine also serves on several boards, including the CSAA Marketing and Communications Committee and PSA Cybersecurity Advisory Council. A certified alarm technician, former cable-TV tech, audio company entrepreneur, and lifelong electronics and computers enthusiast, Goldfine graduated with honors from Cal State, Northridge with a management degree in Radio-Television-Film. His professional media endeavors have encompassed magazines, Internet, radio, TV, film, records, teletext and books. Goldfine resides in the Charlotte, N.C., area with his wife, son and three cats.
Contact Scott Goldfine: [email protected]
View More by Scott Goldfine

Security Is Our Business, Too

For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You'll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!

Between Us Pros, Business

Commenting is not available in this channel entry.


Don't miss out! Subscribe to Security Sales & Integration magazine today. - Security Sales & Integration


View all security resources & downloads