Change and evolution are unavoidable. Many have tried, but nobody can escape the natural inclination of individuals and society to improve. In the past, change was often slower and less noticeable. But in today’s world with improved communication and big picture thinking, technology is evolving at a supercharged rate. Let’s talk about some of the challenges this presents to the LED Sign industry, how we face them and continue to thrive.
Challenges in the LED Sign Industry
We are at unique point in the evolution of the LED Sign industry. More signs produced by thousands of suppliers and providers in our industry are entering the 5 -10+ year range with the quality, or lack thereof, becoming more and more obvious. Some display providers are still going strong, others haven’t fared so well. This is an opportunity to witness first hand, the true stability of a company…if they still exist. No product is perfect, but it’s about how a company handles issues, adjusts and evolves that makes a difference.
The balancing act of retaining a good system of production, administration and support, while not becoming overly dependent on previous procedures or standards that cause delays in response or adjustment. Companies that don’t balance this well can lock themselves and their customers onto a path of of long term stagnation.
When changes are needed, it effects hardware, suppliers, components and fabrication strategies. Even if a company can sustain the balance, they can fall short when it comes to documenting the changes, build records, and accounting for future warranty parts and support. This is more common with “drop-ship” type companies who lack any direct control of their product. They are often cheaper, but tend to suffer severe quality and longevity issues.
Solutions with a Purpose
These challenges share a common concept: The ability to act. Companies who flourish do so because they can act quickly, efficiently and with purpose. They have a strong financial strategy and reliable backing, long term plans, and are not afraid to change. These principles are very important now, and will only become more so as technology grows and communication continues to improve.
Providers who embrace change continually assess their products to make systematic changes in production when issues are found, minimizing the long term effects. They are smart with their financial health, allowing them to address issues, stand behind their warranty and keep product quality and customer satisfaction the top priority. They have the resources to keep good production records and spare parts stock.
Good Sign Companies Thrive
Good sign companies and display dealers thrive for the same reasons. They make changes when needed and are always looking at the big picture. The most successful companies we work with succeed because they aren’t afraid to make decisions. They are able to look at a situation logically and with a clear idea of the risk vs. the reward, making changes when required without hesitation.
Stagnation is not an option. When a business stops evolving, it will eventually be replaced with a more versatile and change-ready organization. We try to practice what we preach every day. Don’t be afraid of change; plan for it, accept it, embrace it and ACT.