When you’re looking for a new supplier of any service or product, does it matter if they have been around a long time or is that not important in the decision-making process?
Perhaps it should be when we read that 30% of new business start ups fail within the first two years and 50% fail within the first five.
There are plenty of new companies doing a great job of building their brand and achieving great success of course, but there is still a lot to be said for working with people who have been doing what they do for a long time. It suggests a level of competence and expertise and most of us find experience reassuring.
Experience gives us confidence
Take a service provider in the window and door industry for example. If you had to choose between two companies to design your website, or generate leads for you or your customers, would you feel more confident working with people who are just starting out or who are new to the industry? Or would you put your trust into people who have been working in the industry for years? Of course, there are exceptions, but generally speaking, more experience means more knowledge of the industry as a whole; it means an understanding of the various sectors and supply chains in each; and it means knowledge of what works and what doesn’t in each area.
Fast and Flexible Response
The team at The Consultancy has been providing online initiatives to the window, door and glazing industries for 30 years. In our case, experience means that when new or existing customers ask for our help, we can respond quickly and sensibly. While we do need to learn about the individual business, we don’t have to spend an inordinate amount of time learning about the industry they operate in or the customers they sell to.
At the end of the day, we see ourselves as problem solvers. Companies come to us asking for our help to improve their customer service department by developing online solutions that work hand in hand with the team back at base, or for lead generation tools that support their sales teams on the road. It’s our experience in the field that means we know the right questions to ask, to find the right tailored solution to their business.
Peace of mind
Markets need up and coming entrepreneurs to keep things fresh and well, that’s the nature of business! And even well-established firms should constantly be evolving their business to ensure they continue to offer something new and relevant. But there seems to be no replacement for the peace of mind you get from a tried and tested company, with a stream of happy customers behind it.