noelward
Well-known member
Be All You Can Be
Is Diversifying a Strategy for You?
By Noel Ward, Editor@Large
All you can do is all you can do. After all, working hard and using a sharp pencil on quotes both work fine. Until they don’t. Some shops are in that moment right now.
I’ve been in and out of print shops for thirty years. Heard a lot of stories, some pleas for help, been a sounding board for business decisions, and helped business owners do things their staff should have been able to do. One thing I’ve often encouraged is expanding the scope of work one does.
As a printer, you are quite good at putting ink on a substrate using offset and digital machines. But no matter the press, what you do is basically one kind of printing. Drawing on your experience and skill enables you push the envelope, learn new things, and develop fresh lines of revenue. It sure beats competing in a race to the bottom and sweating out declining print volumes. The value is helping prepare your business for the future. You won’t be alone.
The PRINTING United Alliance Second Quarter State of the Industry Survey sponsored by Canon USA and conducted by NAPCO Research, explains how savvy commercial printers are expanding into adjacent printing segments. These include graphic and sign (wide format) production, package printing and converting, promotional product imprinting, and apparel decoration. While some transitions can be difficult, expensive or both, all can make sense for print professionals. They are really just another type of printing.
The research suggests ways of diversifying your business and evaluating opportunities and markets. While not a surefire path for success it can help in structuring your approach. If where your business will be in a few years is one of the worries that come out of the darkness at 3 AM, take the time to study this report, share it with your top people, and begin thinking hard about ways of making your business stronger and better prepared for the future.
As an established print provider you are already positioned to do more. Maybe even ideally positioned. One of the best ways of being all you can be is diversifying your offerings and doing more of what you are already good at.
Is Diversifying a Strategy for You?
By Noel Ward, Editor@Large
All you can do is all you can do. After all, working hard and using a sharp pencil on quotes both work fine. Until they don’t. Some shops are in that moment right now.
I’ve been in and out of print shops for thirty years. Heard a lot of stories, some pleas for help, been a sounding board for business decisions, and helped business owners do things their staff should have been able to do. One thing I’ve often encouraged is expanding the scope of work one does.
As a printer, you are quite good at putting ink on a substrate using offset and digital machines. But no matter the press, what you do is basically one kind of printing. Drawing on your experience and skill enables you push the envelope, learn new things, and develop fresh lines of revenue. It sure beats competing in a race to the bottom and sweating out declining print volumes. The value is helping prepare your business for the future. You won’t be alone.
The PRINTING United Alliance Second Quarter State of the Industry Survey sponsored by Canon USA and conducted by NAPCO Research, explains how savvy commercial printers are expanding into adjacent printing segments. These include graphic and sign (wide format) production, package printing and converting, promotional product imprinting, and apparel decoration. While some transitions can be difficult, expensive or both, all can make sense for print professionals. They are really just another type of printing.
The research suggests ways of diversifying your business and evaluating opportunities and markets. While not a surefire path for success it can help in structuring your approach. If where your business will be in a few years is one of the worries that come out of the darkness at 3 AM, take the time to study this report, share it with your top people, and begin thinking hard about ways of making your business stronger and better prepared for the future.
As an established print provider you are already positioned to do more. Maybe even ideally positioned. One of the best ways of being all you can be is diversifying your offerings and doing more of what you are already good at.
