Sales tip: Cutting back business in order to become more profitable

John Seybold was a successful franchise owner for a major flag and as he perfected his craft, business boomed. Eventually, he purchased a second franchise, growing his business to five trucks with four employees. 

But by the 2000s business was changing. Promotional offerings from his franchise were the traditional everyday hand tools already owned by the shrinking market of technicians. Demand was for specialty tools easily obtainable through outside sources at a lower cost. Worse yet, his employees did not have the "sixth sense" to sniff out "skips."

So, in 2007 Seybold took his standard corporate name, "Seybold Enterprises," and re-decaled his truck to reflect the new direction he was heading his business in. Instead of overstocking the essentials that everyone already had, he focused on specialty tools that are not for everyday use, such as vehicle specific front-end tools. This meant less warranties and less frustration. In Lieu of paying several employees, stocking several trucks and dealing with too many skips and marginal customers Seybold would keep his reliable customer base, making his job profitable and enjoyable.

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