Sears, Sony Pictures and MySpace are just
three business entities that may no longer be around by the end of 2012. This
is according to 24/7 Wall Street,
a website devoted to finance and business.
Recently, the
site put out a list of the ten brands that have a good chance of going belly up
by next year. The other seven brands include American Apparel, Saab, A&W,
Soap Opera Digest, Sony Erickson, Nokia
and Kellog’s Corn Pops.
The site looks at a
number of factors to come up with its top ten, including a major
decline in sales and rising costs that make business more
difficult.
24/7 Wall Street is first to admit they’ve made
some mistakes such as naming Zales, BP and Kia in previous
years. Those businesses are now doing very well. But 24/7 Wall Street has also been dead on,
predicting in 2010 the demise of Blockbuster. They also said that T-Mobile
would be in big trouble. As many know, AT&T has announced plans to purchase
T-Mobile.
Year after year, more and more brands are
disappearing. Many of them are brands that are iconic. Does Pontiac ring any bells? Whoever thought Pontiac would one day go
out of business? It begs the question about the HVAC and sheet metal industry.
Are you taking steps to make sure your brand doesn’t go
extinct?
The mechanical construction industry is changing at
a rapid pace. It’s no longer enough to just install heaters and air
conditioners, and tune them up for customers every spring and fall.
Customers
are more knowledgeable than ever. They know that HVAC can do more than just
keep them warm or cool. They know that HVAC also means ventilation. They know
there are components that can also control humidity and indoor air quality.
Maybe even more importantly, they know that a good HVAC system can also save
them money. Some customers may not consider themselves “green,” but most all
customers want to lower their utility bills. If you can’t help them do that,
they’ll find a contractor who will.
If you can’t step up to
provide customers with their changing needs, you might find your company on the
list of brands that will no longer be around.