In this episode, we cover a key takeaway for independent mattress retailers that can be learned from Mattress Firm’s bankruptcy. First of all, I want it known that having strong operators (regional I think is best) in our industry advertising our products on a broad scale is a good thing for the industry overall. Secondly, I think removing the dynamic personalities this industry breeds and creates is terrible. True every business owner’s dream is to sell their company for a big payday but that doesn’t mean you need to stay on board for the ensuing ride as corporate raiders execute their plan on both the up and downside.
My takeaway to share with you is that I am a true believer that our industry is made better when the personal connections are deeply rooted between manufacturers and sellers. As this year moves to a close and into the next I feel it is even more important for you to solidify your vendor relationships and make them even more connective and powerful. The advent of social media and self produced content/media affords all of this opportunity to promote our partners and our stores in ways we’ve never had before. A key focus can be how connective and deeply rooted your vendor relationships are, let your customer know that not only you offer excellent service but your factory friends happily stand beside you too.