As Business Normalizes, 2024 Attention Shifts to Security, Sustainability and Emerging Techs

The copy/print industry experienced yet another year of transformation in 2023, characterized by a back-to-business approach, advances in technology and an ongoing wave of mergers and acquisitions (M&A). As we bid farewell to the past year, it’s important to reflect on the
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Bring on 2023: Setting Sights on an Effective Business Plan

As we embark on 2023, I’m sure I’m not alone in hoping that we finally put COVID-19 in the rearview mirror. Its impact has been unprecedented. In 2022, we faced challenges with inflation, rising interest rates, supply chain issues, a shortage of employment candidates and general
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Critical Mistakes to Avoid in a Business Sale (Part Two)

If you missed part one of this article, it was published in ENX’s June 2022 issue and covered these mistakes to avoid: Running the business to pay no taxes Taking business value advice from peers Engaging the first unsolicited offer Not having your books in good order Thinking
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Critical Mistakes to Avoid in a Business Sale

For many business owners, the sale of their organization culminates a lifetime of work. While it can be the most rewarding sale you’ll ever close, it can be very disappointing if it doesn’t go as desired. The keys to achieving a successful sale are advance planning and avoiding
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Let’s Make 2022 a Better Year

I don’t think anyone will argue the fact that 2020 and 2021 weren’t exactly the best years we’ve had recently. Between the pandemic and its lingering effects, supply chain issues, vaccination concerns and political and social unrest, there were certainly many issues to be
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A Milestone Anniversary is a Great Time to Reflect on an Evolving Industry

Prosperity Plus celebrated its 20th year in business in July, and as amazing as it is to consider how fast that period went by, I’m equally surprised at the 34-year span I’ve enjoyed in the office systems industry. I started my career in October 1987 with Monroe Systems for
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Is the Copy/Print Dealer Acquisition Wave Over?

Saying the last 15 months have left a mark on the copy/print industry would be an understatement. The pandemic we continue to navigate has led to many significant changes, not the least of which is how we interact with customers. Sales reps got used to working through video
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The Light at the End of the Tunnel: Creating a Plan for Success in the Wake of COVID-19

Every dealership in the channel has faced the COVID-19 pandemic in one form or another. And while the effects of this global event haven’t been the same for each business, there’s no denying the influence it’s had on how we manage our operations. Much of the difference from one
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Navigating Business in the Wake of COVID-19

The world changed dramatically in March 2020. As the full effect of COVID-19 became more clear worldwide, its impact was very different from one market to the next. Here in New York, businesses were shut down early and remained that way for a long period of time. Of course,
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Is Your Buy-Sell Agreement Up to Snuff?

A buy-sell agreement is one of the most-important – and often most-overlooked – types of business contract. Any company that has more than one equity partner should have a buy-sell agreement in place. Far too many businesses are running either without an agreement or with one
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Reevaluate How You Reward: Improve Your Results by Setting Benchmarks for Your Staff

Here’s the scene: you’re preparing for an annual review with one of your key people. You know the first thought in her mind is “How much of a raise am I going to get this year?” And you’re thinking, “I know she’s been with me for another year, but I can’t afford to keep giving
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“I Wish I Had…”—Selling a Business Presents Valuable Lessons

Having participated in hundreds of business sale and purchase transactions, I’ve had the unique opportunity to learn what dealers think as they reflect on the sale of their businesses. Human nature often compels people to doubt themselves and look back at the things that could or
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Redefining and Retaining: Rethinking Your Sales Compensation Plan Can Help Keep Employees on Board

When we survey dealers to find out what they need, the answer most often relates to finding, hiring and retaining sales reps. Spending 32 years in this industry has given me the opportunity to see almost every sales compensation plan possible. I’ve seen them favor the dealer, the
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Eight Ways to Know If You Have a Job or Own a Business

So how do you know whether you have a job, or if you actually own a business? I’m willing to bet that this is a question most dealership owners haven’t considered. However, the answer will have a tremendous impact on your short- and long-term success. Whether you’re considering
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Annual Review vs. Annual Raise

It’s that time again; Time for the dreaded annual review with one of your key staff members.  For some companies, this is such an arduous process that they simply stop doing it. I’ve had many a dealer tell me that they believe it’s a waste of time.  “All the employee wants to
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