Specialty Fabrics Review December 2022 - 25

Retaining a strong team
The pricing game
P
rofit is not a dirty word, says Madeleine MacRae, founder and CEO of
HomePro ToolBox. In a session called " Stop Playing the Pricing Game, "
MacRae says the more comfortable you get with the money side of the business,
the more comfortable you will get with communicating pricing to customers.
She says business owners must be confident about asking for what they're
worth. " Can you say with full confidence to customers, 'My products and services
are totally worth the full price?' If you don't believe that your products are worth
the full price, then there's no way your clients will believe it either. "
To increase sales, MacRae says business owners have to be unshakably certain
about their value and persuade customers to invest more to get the quality and
service they offer.
" If you can't deliver premium quality, don't charge premium prices. If you
just deliver great quality, charge great prices. If you deliver luxury, charge luxury. "
According to MacRae, there's a price point for every client and a buyer at every
price point.
" You need to choose and own your position in the market. You need to be
able to articulate the value you bring to the table. Your ability to own and convey
your value to your client is directly proportional to your sales results. "
During a recession, MacRae says, it's even more important to protect your price
margin. " People will want more time to make a decision, " she says. " Be sure to tell
them what they will find when they look elsewhere and be ready to define your
value for them. "
C
lint Halladay, production
manager at SewLong Custom
Covers, says the subtitle of his
presentation was essentially,
" How we went from constantly
hiring to building a group that
felt like family. "
Halladay wondered why it was so
hard for this industry to find and
keep people, and his research
revealed several reasons:
* There is a common perception
that this is a job and not
a career.
* Working with the necessary
materials is hard on your
hands (sewing).
* Some people can't handle
high standards and expectations
and it's stressful trying to learn
everything.
* The pay needs to be higher.
* Every industry struggles with
poor leadership and direction.
MANAGING MILLENNIALS
he biggest challenge most companies are struggling with these days is labor,
says Tim Ledwein, president of Sandler by i10 Solutions. In the Expo session
" Hiring and Managing Millennials and Gen Zs, " Ledwein said the extreme shortage
of labor has resulted in mediocrity becoming the new level of excellence. " The
standard for new hires has quickly been reduced to 'Do they show up?' "
Finding, hiring and keeping quality employees is harder than ever, and according
T
to Ledwein, the generational differences between employers and potential or existing
employees can make it feel impossible. He says that different generations have
different motivations. Boomers want a high quality of life and to create a legacy.
Gen Xers want freedom and balance. Millennials want to be part of something
bigger than themselves and Gen Zs want to make money and be who they are.
Ledwein says that aligning these motivations requires intentional communication
with employees. " Employers don't motivate teams; they motivate individuals and
individuals move the team. If you don't know what's driving your employees, how
can you hope to motivate them? "
Halladay has advice for those in
the industry looking for solutions:
* Put your people first.
* Create standards and clearly
communicate expectations.
* Get to know your employees.
Help them feel empowered and
responsible for the success of
the company.
* Solicit feedback and don't let
ego get in the way of hearing it.
* Don't create hierarchies where
employees feel separated from
management.
The real secret, Halladay says,
" Is to be the type of leader you'd
want to work for. "
SpecialtyFabricsReview.com 25
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