What's Your Most Profitable Thing?

By Jim Moody, CAE
CSA President

I got a lot of feedback on the last issue of Framework, mainly from people who took exception to my Michael Jackson lyrics. I will refrain from referring to ‘80s music for the time being, but it’s your loss.

One good comment I got, however, was about margin. One of our member companies has been on a mission to improve margin since their roundtable meeting in the spring. Part of that quest has been detailed analysis on different product lines to see where they really were making money, and where they weren’t.

They came to the realization that some of the most profitable items were things they never would have put at the top of the list. “I recently discovered that I make more GM off of Yeti cups than I do on Sakrete. That is crazy if you understand the volume of Sakrete we move!”

This dealer suggested we query our members on what one thing (product or service) is most profitable for their business. I think that’s a great idea. I’ll keep responses confidential – you don’t have to worry about me telling your competition that you are making a killing on XXXX product. But, I think it would be fun and educational to compile that list. If you are up for it, please email me your one most profitable thing. I’ll compile and share the list at a later date. Send those responses to [email protected].

Shameless Plug for the Annual Conference & Expo

We are getting close to the early registration deadline for our Annual Conference & Expo. We’ll be in Biloxi in mid-September. Details and registration are available at www.gocsa.com.

It’s important for members to go for lots of reasons. Here are some of my favorites:

  • You won’t find a better slate of education on how to improve your business anywhere. Plus, it’s priced right.
  • We all know that we learn best from our peers. There will be plenty of people just like you at the meeting. Share your best practices, and learn from theirs.
  • Humans (at least the normal ones) crave a sense of community. We’ve lost a lot of community in our society over the past couple of decades. This is a place where you ought to feel at home. The room will be full of people who walk in your shoes and understand your challenges. Come make friends.
  • You can see many of your vendors when you take a lap around the expo. Learn about new products. Build relationships. Tell them the problems you need them to solve.
  • It’s fun to go. We’re in Biloxi, where there’s no shortage of fun things to do. If gaming isn’t your thing, you can always enjoy our golf tournament or go fishing with friends. If that still doesn’t float your boat, there’s plenty of good food to be had in the area.
  • I guarantee that you will go home with ideas that will either save you money, grow your sales (or a combination of the two) that will be worth more than you spend to go the meeting. If you come and find that I’m wrong on that, I’ll refund your money. (I’m not really sticking my neck out on that – we make that promise for all of our meetings. CSA measures success not in our own revenue but in how helpful we are to your business.)
  • You get to see me. OK, that’s probably not the most compelling argument, but you CAN see Victor Shell, CSA’s safety director. You can pick his brain about safety and DOT compliance issues. Victor knows his stuff, and he’s helped many members reduce their risk. A five-minute conversation with him may save you thousands in OSHA fines.

Come join us in Biloxi!