When I was with the Ryobi Import Group, I travelled a lot. I flew from here to there with the routine of getting out of bed at 3, getting out the door at 4 so I could be at the airport at 5 to make the 6 am flight. That was tough. One of the dividends fo that torture, was meeting people on flights and in airports that I would not otherwise talk to. I remember twice when I got kicked up to first class that I met a couple of people who gave me sage advice that I like passing along to my printer friends.
One such person was with RR Donnelley, the largerst printing company in America. Wet talked a lot about digital printing versus offset and the subject of variable data came up. It was an evening flight. When I mentioned variable data he was sipping on his whiskey and something. He chuckled and said “now there’s a solution looking for a problem”. I said, “how do you mean”. His response was, “there really isn’t a market for variable images as the guys who sell the color copiers say there is. The variable information is really black plate data for mailing or personalizing something. That can all be done with inexpensive high speed laser and ink jet printers. Too many people are wasting their money on technology they’ll never use.”
We agree. Buy the $35-$50,000 copier, the ink jet printer and the offset press. You need all three. If you aren’t into mailing, you should be. That’s the best way to get into it. Get a press that delivers outstanding print quality, a copier for shorter run jobs, and a great piece of gear to address and personalize your printed materials. The crawl, walk, run strategy of conservative investing in equipment in this way, seems to have paid off for a lot of our friends.
So now, on to the banker. Also on a first class upgrade, I was seated next to a young upwardly mobile female Vice Presicent from Wells Fargo. She asked who we banked with and we started talking. Before long she told me it was her philosophy (and possibly her bank’s as well) that it was much easier to sell an additional item to an existing customer than it was to create a new customer.
To that end, they would approach their business checking customers and introduce them to sweep accounts, investment accounts, personal savings and checking accounts, investments 401Ks, credit cards and the like.
Then it struck me that some of the most successful printer friends that I call on do the exact same thing. With the logos and images, and design work in hand for that yearly brochure, they were selling their print buyers on a direct mail campaign, posters, point of sale items, banners, signs, wall art, adverstising specialties and more. I’ve asked a few friends why they take on the walk in guy who wants 100 newletters for his Rotary Club or church or bowling team. They respond with business begets more business. THE KEY, THEY SAY, IS NOT GETTING BOGGED DOWN IN THE FEW COPY JOBS THAT DON’T PAY BUT GETTING YOUR BUYERS INTO MAILING AND CAMPAIGNS. REPEAT BUSINESS IS THE GOAL.
So next time you are out on a business trip of personal get away, make friends with the person sitting next to you. It just might pay off. It did for me!