I’m a sucker for a good analogy, and there is certainly no shortage of good ones when it comes to leading a business. Personally, I like to compare a business leader to that of a ship’s captain, whose job is to guide the team and the organization from point “A” to point “B.” Most journeys can take a considerable amount of time, and a good leader understands that it’s not just about keeping the ship afloat but staying the course and keeping it moving toward its ultimate destination. In our industry, a business’s longevity can be a badge of honor. If you’ve been at it for 30 years and are still here to talk about it, you must be doing something right. Right? Whether you’re just starting out, going on 30 years, or are somewhere in-between, the Archery Trade Association (ATA) can help you establish, grow, and maintain your business through multiple resources on our Learning Center, including content available exclusively to ATA members.
In many instances, an archery business that is well guided will stand the test of time, even as others come and go. Success can be credited through thoughtful planning and tough decision making. However, I’ve also seen retailers and manufacturers hang around for a long time without getting any closer to their destination. Some rely on making the same product year after year, and some continue to serve the same group of customers who are slowly aging out of the sport. To get back to our analogy, it’s as if they’re adrift and have lost sight of their destination.
The waters can get rough, and to avoid going adrift, a leader has to be ready to make tough decisions and navigate through less-than-ideal situations to stay on course.
Where Are You Going?
When I talk to leaders who starting a new business, I tend to hear a whole lot about themselves and what makes their business unique or special. What I don’t hear much about is whether they have identified their customer and what kinds of problems they will be solving for them. This is your “destination.” If you haven’t determined this, it doesn’t matter how fast you’re going or if you are using the fanciest equipment—you might find yourself lost at sea. I recently came across a cycle shop owner on YouTube who talked about opening a shop just a few miles from a major high-end bicycle manufacturer. In his words, “everyone in the town who is a serious cyclist can purchase a bike through a friends and family discount.” For him, trying to sell high-end bikes at retail would have been disastrous, so he identified a different customer (and a different “destination”) by focusing on selling regular bikes to regular people. He concentrated on high quality, mid-range bikes, used bikes that had been given a pro shop tune-up, and expert service to back it all up. Moral of the story? Clearly identify your customer and the solution you offer. That’s your destination.
Fixing Problems that You Didn’t Create
Somewhere along the way, all leaders will encounter problems. Even when you’ve done everything right in your preparation, something is bound to go wrong sooner or later. And, as frustrating as it may be, many of the problems that need fixing will be those that you didn’t even create. To stay on course, you must take a solutions-oriented approach to these problems. If a ship’s engine fails in the middle of a storm, the captain is less concerned about who was at fault than getting it fixed and setting the ship back on course. The same should go for your business. Somewhere along the line, you will be let down by a business partner; perhaps a supplier doesn’t ship necessary hardware, a retailer doesn’t hit their sales projection, or a manufacturer releases a new product at a time that interrupts your sales cycle. None of these situations are your fault, but they are your problems to fix. Focus on the short-term solution that gets you through the storm and then consider changes that you can make to avoid another break down in the future. You might have to make some tough decisions to stay on course—perhaps it’s switching suppliers or vendors for a particular product or altering your buying and selling timeline. In either case, focus on what you can control to minimize the impact on what you can’t. As an ATA member, you have access to many valuable on-demand courses such as “Understanding the Business Lifecycle” or “Basics of Archery Retail” on the ATA Learning Center that will help you reach your professional goals.
Continuous Minor Corrections
If you’ve ever driven a boat, you know that making a sudden change in direction can be tricky and may even have disastrous results. Oversteering while moving slowly will propel you in a zig-zag direction and get you nowhere. And doing the same at full throttle can send your entire crew overboard. When you know your ultimate destination and keep your focus, you can make continuous minor corrections and stay on course. Analyze your operations daily, and be honest with yourself about whether or not you’re moving toward your destination. If not, make a small minor correction. For example, if you see that your staff members are having trouble closing sales, have individual conversations with them to better understand their opportunities to improve. These types of “course corrections” are so minor that most probably won’t even realize they’ve occurred. But, as the leader, you will slowly see your ship get back on track.
It can be rough out there, but when you follow some of these principles, you will see a positive impact on your business. Even if you’re not the head of the organization, you likely lead in some capacity. Know your destination. If it’s not clear, start asking questions until it is. Understand that being a leader means that you might have to fix a problem that you didn’t create and develop a solution that rights the ship to put you in a better position to reach your destination. Lastly, avoid knee-jerk reactions when things don’t go right. Not only do you lose your momentum, but you risk throwing the rest of your crew overboard when they’re caught off guard.
Much of the necessary knowledge to make all of this happen comes from your ability to honestly analyze your business. The ATA has plenty of resources to help in a wide variety of areas. Members will find a wealth of resources on the ATA Learning Center, from a basic business plan to in-depth lessons on business operating procedures and much more. Visit archerytrade.org to learn more, or contact me at kurtsmith@archerytrade.org to get started.
