August’s annual Bright Ideas Issue of SSI features the annual Operations & Opportunities Report (OOR). This unique, original data identifies security integration and dealer companies’ top money-making and cost-saving ideas, leading growth opportunities, and surveys operational metrics.
Nearly 250 executives, supervisors and managers from across the nation, representative of all sizes of companies, were asked a host of questions targeting not only the best ways to boost profits and reduce expenses, but also the implications of implementation. Further, respondents were asked to identify the most promising new technologies and service offerings, as well as the most viable vertical markets. Several financial and operational questions were also included.
While the printed results include nearly all the findings, I managed to dig up a handful of additional responses I thought I would share here as either bonus insight or to whet your appetite to investigate further if you have not already perused the 2012 OOR itself. I truly hope all this data helps your company maximize its success. What follows are four questions from the study with one or more responses not featured in the detailed print results. By my count, it adds up to nine more “Bright Ideas.”
If you had to identify a single way to reduce costs in your business, what would it be?
“Work with all employees to identify waste and inefficiencies, using the C3; Command Control and Communicate.”
If you had to identify a single way to increase profits in your business, what would it be?
“Estimate jobs better to have the right parts in service vehicles.”
“Lease equipment instead of selling and target recurring revenue instead of one-time transactions.”
If you had to identify one service to tap into to generate more RECURRING REVENUES, what would it be?
“Mobile patrols and alarm response services.”
“Remote video monitoring and security response.”
Why would you say your company is financially better off today than it was 3 years ago?
“We have implemented standardized estimating and job costing systems that allow us to more closely manage performance on a per-job basis.”
“Never say die attitude, strive forward and overcome.”
“Better financial planning with cash flow management focus.”
“More of a focus on securing loyal customers as opposed to the customers that will only hire once.”