Bet on the Jockey, Not on the Horse

By Stephen Bean | Sep 09, 2009

In the course of my day-to-day occupation as a laundry machinery distributor and coin laundry developer, I regularly consult with numerous laundry owners about their success – or the lack of it.

And, after about 24 years in this industry and nearly 20 years in other industries, I have reached the logical conclusion that, when it comes to predicting success or failure of a small-business owner, the smart bet is on the jockey, not on the horse. The mere existence of a business does not in any way ensure its success, but you would likely be shocked to know how many people actually believe to the contrary. This is not the Field of Dreams here, folks, wherein “If you build it, they will come.”

Take a look around you and you will easily notice that some small businesses succeed and some simply do not. This, of course, applies to all types of small business, including coin laundries. A number of years ago J. Paul Getty was asked for the reason why he became so successful and rich in the petroleum industry, and his answer was “some people find oil and some don’t.” Well, some people succeed in the coin laundry business and some don’t.

Having a master’s degree in clinical psychology, I’m quite naturally an interested observer of human behavior, and I believe that we are as we repeatedly do, and we select our joys and sorrows long before we actually experience them. Some coin laundry owners are mature, hard working, understand the customer, deal effectively with their employees, are savvy about marketing, know how to write effective advertising, understand pricing strategy – but, alas, some simply do not possess these skills. Those who do are generally successful, and those who don’t are typically not.

Businesses don’t run themselves. Successful business owners are proactive, not reactive. If you are proactive, things will happen for you. If you are reactive, they will generally happen to you. It’s all in the preposition. It’s imperative that small-business owners develop intuitive operating methods that are consistent with customer sentiment. What that means is that, to be successful in the coin laundry business (any business, actually), one must be totally open and honest with himself or herself with regard to how he or she is running the business.

It’s all about the customer. The customer is the only thing that fundamentally matters. Getting the order, so to speak, is what it’s all about. Without repeat, happy customers what you have is merely a room full of washers and dryers. Perception is definitely reality and – believe me – customers perceive plenty.

For example, are your hours of operation arranged to fit your lifestyle or the lifestyle of the customer? Are your attendants friendly or grouchy? Is your interior signage user-friendly, or does it require customers to have a Ph.D. to figure out how to use your store? If you have a diversity of ethnic groups as customers is your signage displayed in the appropriate languages so that people don’t feel intimidated and embarrassed that they can’t operate your machinery and navigate your store easily. Also (my all-time personal favorite), does your in-house signage for washers indicate pounds rather than loads? Frankly, I have never met a customer who knows what his or her underwear weighs.

To be successful you have to have successful habits, be creative and flexible, and you must never take your eyes off of your enterprise. Above all, you have to respect and satisfy the customer under all circumstances. Marketing is an attitude, not a department – and the minute it becomes a department you can expect trouble with a capital “T,” and that light at the end of the tunnel to be a train coming at you.

Marketing requires flexibility and imagination. Total consistency, as Oscar Wilde said, “Is the last refuge of the unimaginative.” Did you know that you can find loads of free information on marketing and management on the Internet? B.G. – before Google – information was not as easily obtained, but now it’s a breeze.

If you want to be successful, start by imitating successful people. I am a big fan of the work ethic and philosophy of the late Vince Lombardi, the highly successful coach of the Green Bay Packers football team. And Lombardi said, “The quality of your life is in direct proportion to your commitment to excellence, regardless of your chosen field of endeavor.”

Vince was right.