Jon Myer knew that drastic times call for drastic measures. What he didn't know was just how drastic those measures should be.
Like many dealers looking for ways to survive the Great Recession and improve their businesses along the way, Myer, president and CEO of Maryland-based retailer MyerEmco, took a long, hard look at his company, spent hours talking to key marketing and sales managers, and walked away knowing he had to make some tough decisions. "Our transition," he said, "was 100 percent related to the recession."
Since last year's CEDIA EXPO, most dealers have made similar changes: cutting inventory and staff, reviewing all systems and processes to save whatever they can, calling more frequently on existing customers, reworking and improving their relationships with banks and vendors, making the most from every partnership. But many of them are taking different approaches to their execution and learning lessons that others can benefit from.