The BI Weekly 5 is a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every week on BoatingIndustry.com.
1. Recreational Boating Leaders Hold Capitol Hill Briefings on Boating Safety and Infrastructure
The National Marine Manufacturers Association announced that industry leaders held briefings in conjunction with the Congressional Boating Caucus. The briefing, titled “Boating Safety and Infrastructure,” focused on issues ranging from dredging the Intracoastal Waterway and engine cut-off devices, to aquatic invasive species and public-private partnerships with marinas
The briefing was presented by a panel of industry experts, which included: NMMA Federal and Legal Affairs Vice President Nicole Vasilaros; Brunswick Corporation Product Integrity and Government Affairs Director Dave Marlow; BoatUS Foundation VP and Director of Environmental Programs Susan Shingledecker; Atlantic Intracoastal Waterway Association Executive Director Brad Pickel; and Safe Harbor Marinas Senior Vice President of Operations John Swick.
2. Writing a Business Plan Makes Your Startup More Likely to Succeed
In an article for Harvard Business Review, Francis J. Greene and Christian Hopp outline why having a business plan will make a startup company more successful.
“A plan helps detail how the opportunity is to be seized, what success looks like, and what resources are required, and it can be key to the investment decisions of angel investors, banks and venture capitalists.”
3. Free “Look Before You Pump” Hangtags Available
The Outdoor Power Equipment Institute is offering new “Look Before You Pump” hangtags to all NMMA members to help promote the use of E10 or less fuel to your customers – great for dealerships, showrooms, boat shows, etc.
4. What Small Retailers Can Learn From Amazon Prime Day
Amazon Prime Day was last week, and Forbes outlined what small retailers could learn from the big corporation’s mid-year Black Friday.
“To compete and be successful, smaller retailers need to focus on the in-store experience, says Reynolds. That could include anything from personal shopping, to free gift wrap, to classes, demonstrations, or other experiences customers would appreciate.”
5. An Endless Supply Of Tomorrows
Tibor Shanto discusses the importance of time in the sales process for Renbor Sales Solutions Inc.
“Generally speaking you can put folks into two groups, the larger 80 percent, those who view time as a unending commodity, and as such can be frittered away with little thought or concern. The minority 20 percent, the more consistently successful, see time as a precious resource that is to be maximized and fully exploited, understanding that once an hour passes, it can never be regained or reclaimed.”