I know this may sound like I’m throwing chamois cream at the wall to see what sticks, but who doesn’t love another opinion… right? In all seriousness, while things are beyond crazy, I would like to share some thoughts, with hopes of receiving some feedback that may or may not be helpful for all involved.
Prior to the tariff sheriff coming to town, I made it my mission to bring the Bicycle Industry closer together through discussion & constant communication. While we have needed that for years, the latest situation has practically shoved the pace of our challenges into warp speed. But is all really lost? Are we writing a script based on tradition rather than considering a plot twist? Since the timing of launching this platform coincided with our wealthy elected officials playing with our livelihood (at no risk to them), I thought that there’s no time like the present to start talking about this shit before it’s too late. To get some productive conversations going, I tossed a few posts in the Retail Chatter, Supplier Row, and Industry Hub forums. All three posts touch on ways to work with others in ways we may or may not have before.
Are our reactions productive?
Often, when I found myself facing a problem, I would immediately turn off 50-75% of everything else to focus on (worry about) it. Whether it was in my control or not, it was always the same story. When things piled up, I found myself practically incapacitated. I finally reached a point where it became apparent that the time spent worrying about something I couldn’t control, was wasteful without action. If the attention I gave something outside of my control wasn’t affecting the outcome, I categorized it as a distraction. *editors note, this does not always fare well with things like teenage daughters and expiration dates). Once I considered something a distraction, it was easier to mentally step away from it and towards something more progressive. Going against my natural instincts wasn’t easy and to be honest, I still do this but not nearly as often.
This sounds harder than it is, especially when so much is at stake. Most have been in a personal situation where we were willing to walk through fire without any guarantee whatsoever because sometimes, it just is what it is. Many may feel like that now and regardless of the situation, I think many could benefit by considering some less-than-traditional opportunities. Not to let any more air out of anyone’s tires, but we are a tradition-heavy industry that has increasingly had a difficult time progressing at the same pace as the general marketplace. One of those traditions involves how we run each of our businesses… namely, the resistance to change. Often that’s a good thing as it could be a key indicator that we are doing what makes us happy. On the other hand, when things are in a slump, rather than change, we often head straight to making cuts.
I am not saying making cuts isn’t necessary but in many cases, I think it is worth considering other opportunities first. Kind of like I see some things as a distraction, I like to consider things without a number value, ‘investments’. ‘Investments’ could include, processes, people, brands, and services that have contributed to our business. These are things we are vested in so it’s a good idea to seek alternatives before making too many cutbacks. I say this not just because of the past values they offered… because of how important the potential ones are. Making cuts involving something that has a history of working, is too often a risk that isn’t being fully considered. Even when things turn around, rebuilding with less dependable resources is a huge disadvantage in comparison to those who retained most of theirs. The struggle to get back to square one should be something we consider more than we probably do during times like these. But hey, I am totally generalizing and my Crystal Ball is in the shop waiting on parts, but I have seen it happen time and time again in our industry.
So what the hell and I talking about? What kind of opportunities am I building up to save everyone’s day??? While don’t have the answers, I do think many of us will be better off if we put the distractions aside and consider focusing on what is in our control. I am a big fan of collaboration so let’s speak up and share some ideas & concerns. This isn’t a time to be shy so consider collaborating with others in the Bicycle Industry and within our individual communities who are facing similar challenges (this isn’t just a bicycle thing).
So, what can we do?
This is where we need to consider & focus on what IS in our control. To start, collaborate with as many people & businesses as possible that are in a similar position.
Retailers should communicate to establish & express a more uniform voice to their suppliers. Suppliers won’t react to an unorganized handful of retailers with different requests as much as they will with organized groups. Like you, suppliers have a lot at stake, so expressing a more uniform set of expectations with each other can go a long way (and not just when times are tough).
Organize and consider sharing resources, have town hall meetings with your customers to discuss & problem-solve (heck, get 3 or 4 businesses & their customers together in one place to share & receive feedback) and who knows what will stick. I can’t express enough that it’s better to get ahead of this rather than wait for it to consume us and no one will appreciate it more than our consumers. Involve them. Even in the worst-case scenarios, this level of seeking opportunities & collaboration can be helpful as it could immediately have an effect by opening some doors & ideas that could help many through these abrupt times… and potentially introduce us to some long-term opportunities we never would have considered.
Suppliers are thinking long-term and while larger & more established ones have more ability to adjust than most, all of them will make better decisions for all involved if they work together with other suppliers, and especially their retailers. All it takes is the simple action of picking up a keyboard and communicating.
Talk to your factories and see if they will talk to each other. Some already are, but at the very least, be on top of it and make as many proactive moves as possible. While remaining safe is key, just like you shouldn’t put all of your bearings in one race, consider making decisions that might be a good compromise for all involved. Extreme measures rarely play out in the long run and let’s face it, the Bicycle Industry IS NOT corporate America. Copying the moves of those not anything like us might seem to make sense, but take a look back at where we’ve been and consider small changes are easier to adapt & change, than large abrupt ones.
Let’s do this!
Desperate times often force us to become better prepared in the future so I would like you all to ask questions or share some ideas that have helped you during uncertain times. Despite decades of ups & downs, we’re a resilient industry that has always figured it out… so let’s figure this out on a bigger scale than we ever have!