I'm sure you've heard this before: "It's not what you know, but who you know." We've all probably used it at one time or another, but when it comes to business I don't think it's necessarily true—all of the time. I think knowledge is essential to building a healthy and successful business. I mean, if you don't know anything about the industry and how to run a business, then your chances for success are probably slim to none.
In this industry, versatility is a key ingredient to success. Business owners need to differentiate themselves from the masses. There are many businesses that were successful five years ago that are no longer here. Staying relevant and successful is about offering the right medium for the message. Successful PSPs know how each and every type of signage will work in the market and can help their clients explore new or different options to ensure their customers' marketing message gets the most traction.
For instance, according to a report by IMS Research, growth in the worldwide digital signage market will exceed 40 percent in 2013, totaling $7 billion. Even if those numbers are on the high side, there’s no doubt that segment of the market is poised for growth. Dynamic content that allows for interactivity and the ability to update content instantly in real-time makes this very attractive to many businesses. Do you know enough about this market to offer it as an option for your customers? You can learn more about it starting on page 9.
How about vehicle wraps? You may be an expert installer, but are you making the most of your staff's expertise when it comes to marketing? See how some wrap experts "do everything they can" to expand their customer base and their profits on page 22.
But hand in hand with the knowledge of a PSP's customers and markets is the need to stay ahead of the technology curve as new processes and equipment for producing signage are unveiled. Can you answer these questions: Is it time to put in a UV LED printer or is the UV printer you already have in-house exactly what your business needs? What's the difference between the two? Does it really matter which one you have installed? Your customers might care if you can't print on the media they need for their next marketing campaign. Explore more of the ins and outs in UV and UV LED technology on page 12.
The successful and profitable wide-format business must stay aware of—and decide quickly—how to respond to the evolution of technology, competition, applications, and business climate. Effective business owners will make sure that their team stays current through a well-planned process of education. In this case, what you know and how you use that knowledge is an essential step in growing and building a successful business.