News and Trends

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IDG's Q1 sales drop
Industrial Distribution Group Inc. saw its first-quarter sales decrease 3.7% vs. a year ago. The maintenance, repair and operating products wholesaler-distributor concentrated on increasing sales outside of the flagging automotive sector during the quarter, President-CEO Charles Lingenfelter said. IDG will continue to focus on improving operating performance and sales by enhancing internal processes, he added. Industrial Distribution (5/8)

Tessco eyes steady growth
Amid a booming cell-phone and wireless technology market, Tessco Technologies Inc., a wireless products wholesaler-distributor, recently announced a 38% profit increase for its most recent fiscal year. The Washington Times (5/8)

Henry Schein's profits grow despite dropping shares
Medical supplies wholesaler-distributor Henry Schein reported a 14.8% increase in quarterly sales compared to a year ago, on strong demand for dental equipment. However, the company said its shares slipped as a result of a soft medical products market. Reuters (5/8)

Other News

• Performance Food sees 23% earnings increase in Q1
  Houston Chronicle/Associated Press (5/8)

• Tech Data to close German logistics facility
  American City Business Journals (5/7)

Best Practices

Strategize to stay ahead of the competition
Developing a business strategy is key to adapting and competing in the long-term, says business consultant Joan Adams. "You want your strategy to be lean, mean and very clear. Do this and it will keep you better than one step ahead of the competition," she says. Supply House Times magazine (5/2007)

The benefits of good research
Fully developed and thoughtful research is imperative to sound business planning, observing and tracking the competition and analyzing and interpreting industry trends. SmartBIZ (4/25)

Sales

Change their minds, make the sale
Finding the perfect prospect -- one that has the need, authority and budget to buy -- isn't always easy. However, sales people will do themselves a favor by remembering that there are no "wrong" prospects. Educate prospects who aren't yet up to speed on why your product or service is right for them. Entrepreneur (5/2007)

Small Business Manager

Think smaller, grow bigger
Most small businesses aim to get bigger, but there are some rules every small-business owner should remember when on the road to growth: strive to be the market's best not just the biggest; maintain a love and desire for your business; and forge a relationship with each employee. MarketingProfs (free registration) (5/1)

Executive Life

3-D copiers come home
While three-dimensional printers have been in industrial design shops for about a decade, prices are expected to fall enough to put them in small offices and corner copy shops soon. Desktop Factory is one company that wants to be the first to put them in the home. The New York Times (5/7)

Study: Dividing meals into small portions doesn't affect consumption
The amount of food a person consumes is not affected by food portions or the presentation, researchers found. Rather, it's what kind of food a person is eating that affects calorie intake. Forbes/HealthDay News (5/9)

NAW Insider

Get protected: Identity theft can impact small-business owners
Identity theft strikes millions of Americans each year and costs our economy billions. Small-business owners need protection from the expense and hassle of recovering personal credit if they fall victim to identity theft. That's why The Hartford has added identity recovery coverage to its Spectrum product for distributors with 100 or fewer employees -- at no extra cost. Learn more about fatigue and its impact on motor vehicle crashes, including countermeasures to consider.

Learn the Essentials of Profitable Wholesale Distribution
Essentials of Profitable Wholesale Distribution will benefit your entire team. End-of-chapter self-tests, a glossary and a concluding "final exam" speed learning and retention.

Weekly Poll

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 Very important: we are always trying to expand.
 Moderately important: sustainability is key.
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