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Study Offers More ‘Bright Ideas’ to Raise Profits and Slash Costs

Read the bonus material from SSI's annual Operations & Opportunities Report (OOR).

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August’s Bright Ideas Issue of SSI includes the annual Operations & Opportunities Report (OOR). This original research identifies the most promising security technologies, service offerings and vertical markets, as well as the best ways to reduce costs and boost profits, among other data. Many of the questions asked included an “other” option in which respondents could write in the answer. Since not all of that could be included in print, here now are some bonus “Bright Ideas” to fathom:

If you had to identify a primary way to reduce costs in your business, what would it be?

  • Cut health-care premium support  Reduce health-care expenses and insurance costs 
  • Paperless offices 
  • Provide new electronic security equipment to allow staff to multitask 
  • Drive more higher-margin sales 
  • Improve sales training and internal policies procedures to reduce paperwork 
  • Reduce middle management

If you had to identify a primary way to increase profits in your business, what would it be?

  • Great customer service will be returned a hundredfold 
  • Cold calling and following up on the building permits 
  • Improving process control across the board 
  • Streamline internally for smoother operations 
  • Deliver higher value-add services and solutions 

If you had to identify one type of technology to generate more nonrecurring revenues, what would it be?

  • IP video analytics 
  • e-learning products 
  • Special hazard systems 
  • Electrical systems 
  • Cellphone monitoring and blocking 
  • PSIM [physical security information management] 
  • Standalone access control 
  • Distributed antenna systems 

What is the single greatest drain on your company’s bottom line?

  • Conflict resolution terms and conditions 
  • Equipment costs 
  • Creation cost for a new customer 
  • Poor use of internal resources

What is the single greatest boost to your company’s bottom line?

  • High-profile incidents such as school shootings 

In what ways are security contractors leaving “money on the table?”

  • Low-bidding projects 
  • Not providing great customer service 
  • Misunderstanding the selling situation and not getting higher prices when the opportunity presents itself 
  • Cost to replace faulty equipment

Scott Goldfine

Article Topics
Vertical Markets · General Industry · Installation and Service · Management · Physical-IT Security Convergence · Blogs · Business · Installation · Management · operations · Research · Sales · 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]
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