Written by: Robin Currie
Here at Currie Management Consultants, Inc. we are always future-focused. As a lead consultant and advisor to all things industrial equipment, we are charged with providing perspective, insights, and perhaps most importantly, strategies to mitigate risk while supporting extreme growth. So has been the rallying cry in a post-Covid world. Acting as a scout, we survey, observe, and analyze anything that may impact our marketplace. Throughout the triangulation of an increasingly complex and ever-changing industry, we must remain vigilant in assessing the future—not only that which could occur during the next quarter, or administration, but what may be coming in the long-run, and possibly from an unknown place. Navigating the ambiguous is not for the faint of heart, rather it is a critical skill that requires vigilance as we identify and face all changes and threats head on.
Philosophical viewpoints aside, what lies before us that we must now identify and execute in order to remain profitable, cutting-edge, and competitive? Are we adapting when the need presents itself, or do we continue to struggle with change management? Are our home-grown managers able to rise to top performance standards? Where do we find ambition amongst the population of candidates that will now carry our companies into the next generation of industrial equipment? So many questions, and yet so many opportunities.
For decades, Currie has presented a visionary graphic created by our founder, Robert Currie. This chart depicts the place we have come from, as distributors of industrial equipment. It also helps us to identify where we now stand as a company, and where our customer base may be positioned. From there, we can predict where our customers are going. As we develop strong partnerships and deeper understanding of the customer perspective, we can structure our offerings.
Anticipating the future of the customer is important—what will their processes and production look like? Where will they face challenges? What technology and other resources will be available? These questions and more are what drove the Currie team to update the graphic with a new look at the marketplace. After all, we are most definitely entering a new phase of life that some esoteric thinkers call a chaotic node. Extreme events have happened. In recent years we have experienced civil division, economic instability, a pandemic, wars abroad, and general uncertainty. But these circumstances, although they can be troubling, offer us opportunity. And, these circumstances have resulted in our distribution companies experiencing exciting growth both through increased revenue streams and transactions within the distribution network.
As the Currie Evolution of the Marketplace chart evolves, the prophetic spirit of our original founder brings us into the current moment with the addition of Phase V. Although we realize that many of our customers and distributorships are still somewhere between Phase III and Phase IV, dealerships must demonstrate expertise and vision on behalf of the customers they serve. The goal of the supplier is to manage as many aspects of the customers’ operations as possible.
Marketing View of the World
In Phase V we have a viewpoint that looks at the metrics of the customer—specifically their manufacturing or output benchmarks. What are the best practices within their processes? Do they even know them? We already have the understanding that the customers are seeking a supplier that has innovative products and services. This mindset helps the customer do what they do, and helps them to do it better. The Customer Production Manager at our distribution company must create an equipment strategy that will ensure continuous productivity—uptime is critical. As the site survey is revived and renewed, it must include the goals of the customer.
Sales Process
When we consider the type of process that will ensure success with a Phase V customer, we must redefine our business not as a company that sells equipment, but rather as an expert in managing the customer’s process. So, we have evolved from a focus on our own, internal process and now present our company’s offerings using a consultative approach that addresses the customer’s needs for fulfillment, production, logistics, or whatever business the customer is in. This takes our buzzword of “solutions provider” to the next level.
“As a premium supplier to the customer, we ensure that they are always performing, because we are. In this paradigm, it is more imperative than ever that any representative of the distribution customer fully understands the value proposal in great detail, through a complete understanding of the inter-relationship between the customer’s process and the dealership’s provision.”
Organizational Structure
How the distribution company structures and prepares itself for the leading-edge customer is the key to success. What’s happening behind the scenes may be less than perfect, yet invisible to the customer. This is where we continuously improve and develop a performance team that understands both the customer’s goals and the business model of their own dealership. The talented leaders that we acquire must be curious, flexible, constantly learning, and entrepreneurial. These perspectives are in keeping with the start of many of our equipment distribution companies. At the head was a hard-working, dedicated, visionary entrepreneur. These original owners worked tirelessly to build the large companies that make up most of the Currie client portfolio.
Some companies are even centennials. This is a wonderful legacy, but also brings the responsibility to continue to be nimble, flexible, and ever-present as a leading supplier, service provider and employer. Everything has changed, and yet nothing has changed. This is the paradox of newness and modern business— still reminiscent of a back-to-basics approach, but with the advantage of technology and accumulated wealth. The giants of today are only here because of the giants of yesterday as they caught a glimpse of today’s world.
Offerings
Our offerings are the part of this industry that has evolved the most. Products are different, and pricing has indeed increased across economies. This may be the most difficult maneuver that we have yet faced—matching a plethora of products and services for the precise usage of our customer. And many of my distribution clients report that customers are slow to adopt the use of electronics that capture unit data. Therefore, we must take responsibility for leveraging the increased technology that is available to us and to them. In our competitive marketplace, the most advanced teams with data-minded talent will capture that area of the marketplace and win success. This portion of our evolution is the most challenging, the most exciting, and will contribute to the momentum and trajectory of this market.
“Here is where we look at the new—isn’t that really what everyone wants—the newest, the best, the most productive, the most “wow”? This captures the essence of the Currie Evolution of the Marketplace.”
Dad always used to quote an ancient Chinese proverb: “may you live in interesting times”. I’ve done some research on the history of the proverb, and some older translations state it as: “may you live in chaotic times”, which then sounds like a curse. I’m sure that if I asked him today if he wanted to curse his clients he would laugh. But think about the etymology of “interesting” and “chaotic”. As mentioned earlier, all advancements must come through a chaotic time. This is our window of opportunity where we decide to jump to a new and exciting world, or risk getting left behind with all those who have placed restrictions on themselves for whatever reason. At Currie, we jump. If I asked Dad today: “do you want interesting, or chaotic for our clients?” I’m sure his answer would be “yes”.