Editorial
Competition drives improvement
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| Clair Urbain, Editor, Pro Contractor Rentals magazine. |
It’s challenging to resist complacency. It’s human nature to define a comfort zone and then stay within it.
Unfortunately, in the world of rental, competition lurks near every industrial park and highway exit. Whether it’s a national chain, a big-box store or a family-operated business, there are plenty of options for rental equipment and that competition keeps most rental centers on their toes.
Still, comfort zones abound. As 2017 winds to a close, now is the time to look back over your numbers and identify your top money-makers as well as your biggest money-losers. It’s also a good time to look at market segments you haven’t competed in and see if there is a gain that can be made with little investment.
My son was a competitive gymnast growing up. While we all looked forward to the first meet of the season, it usually wasn’t a pretty sight. Sloppy skills and low scores drove him to work harder and every season, by the time regional and national competitions came around, huge improvements were made. All because of competition.
Competition puts things in perspective. The more you know about your competitors, the better you can shore up your weaker areas or devise a plan to set yourself ahead of them.
In this issue, I think you’ll find plenty of information on new models that can help you offer more variety and utility to your customers. As more construction contractors are trending to rent rather than buy equipment, rental centers are well-positioned to help simplify their lives and lower their total cost of operation.
The key is to identify those market segments that are emerging or aren’t well-served by your competition. Those specific areas can become your unique selling proposition that redefines your competition and very likely will set you profitably apart from your competition.
Wishing you the best as you finish out 2017 and prepare for 2018 and beyond!
PRO CONTRACTOR RENTALS MAGAZINE
Pro Contractor Rentals provides information of value to rental centers who focus time, resources and attention on meeting the demands of construction contractors and other equipment rental customers.
