How to Stay Ahead in your Wood Business by Steve Larosiliere

 

A major part of the success of any business is keeping track of who the relevant people are, what the trends are, and what the market condition looks like. So today I’m going to go over three quick things to keep in mind that will help you stay ahead with your wood business. 

 

Network, Network, Network

 

This one should already be second nature for most of you, but you need to network, network, network. All of the leaders in any industry are all the people with large followings on social media. Make sure to follow all of the industry leaders, all of the manufacturers, and any influencers who work within your space.

 

Influencers work with brands, which means they are updated on what’s happening in terms of products or services because those products/brands reach out to them to take advantage of the influence they have in the industry. 

 

Following the right influencers will position you to know where the market and brands are going. That information is vitally important and that’s what I want you to pay attention to. 

 

 

 

 

Consume the Right Information

 

Start by paying attention to the Woodpreneur Podcast. I would also suggest listening to different business podcasts, pay attention also to business magazines, information about the economy, and information about your city or town. Gathering information from outside of the industry can still be very beneficial as industries are connected globally, and what affects one often impacts others.

 

If the economy is going down and there is a recession, that may affect housing prices which may, in turn, affect lumber prices, which will affect your business. 

 

Conferences 

 

Whenever possible, you need to invest in, and show up to in-person conferences. Conferences like International Woodworking Fair, Workbench Con. There are a ton of conferences, trade shows and events. I would advise attending between 1-3 per year, depending on your schedule and finances. 

 

 

 

 

You’ll not just only a sense of where the industry is headed; you’ll be able to network with so many more people in your industry than you could otherwise. You’ll get the opportunity to meet like-minded people and ideally get some business out of it. 

 

To recap, follow the influencers and the brands, listen to the podcast, read different magazines and trade journals, locally and nationally, and lastly, show up at as many trade shows as you can. 

 

Follow and join the Facebook Group Woodpreneur Life for more information!