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Is your glass half-full or half-empty?
“These are the times that test men’s souls”…said Thomas Paine during the Revolutionary War. If he were alive today he would acknowledge that souls are being tested again in 2008. Not only for men in the boating industry, but also for the women.
It is clear to me that all of us need to focus on the full part of the glass and remind ourselves that “this too will pass.” The question is, how soon?
In case you need some evidence that things do change, here are three quick examples from US History:
- P.T. Barnum filed for bankruptcy, and then he started his circus.
- John Henry Heinz’s company filed for bankruptcy in 1875. The next year he invented a nice little condiment — known as ketchup.
- Henry Ford’s first car company filed for bankruptcy, and his second car company failed. His third business was the Ford Motor Company.
Here in July 2008, it feels like we’ve been hit by a six-pack of challenges: the home mortgage crisis, skyrocketing fuel prices, a stalled economy, a tight credit-market, record-low consumer confidence figures and lousy weather.
Given these challenges, it seems to me that “attitude” is more important than ever. Those who can focus on the glass half-full will maintain their sanity as well as their businesses.
We just received the boat sales data for Washington State that covers the 3rd and 4th quarters of 2007 plus the first quarter of 2008. When I saw the numbers, I really was not sure what to expect. Could sales be off 30-40 percent? Here is what we learned. When you compare sales from each quarter to the prior year, sales are down 18 percent on a unit basis. When you compare the actual dollars, sales are down 5 percent.
Is that better than you expected? Worse?
If we look at the glass as half-full, dealers in Washington State did sell over $177M of new boats in the past nine months!
In this environment I think it is important for all of you to know that everyone at the association is focusing on the glass half-full. We are staying positive and concentrating on how best we can serve all of you. We have four events (think of them as opportunities to sell) over the next three months: Kirkland Uncorked, Boatstock, an August Parking Lot Sale and the Boats Afloat Show in September. I encourage everyone to consider participating. For details on any of these events, please contact our office (206) 634-0911.
Not only are we focused on serving you this summer, we’re looking ahead to the next 12 months as NMTA begins its new fiscal year on July 1. Now is the time for everyone to renew their membership for 2008-09 and I encourage everyone to stay engaged and renew your membership. I am proud of the services we provide for all 905 of you.
July is also the time to send in your application for the 2009 Seattle Boat Show. The deadline is July 31 to receive the on-time rate and make sure you receive space in the Round I allocation process. Rest assured that everyone on the staff of the NMTA is going to do everything possible to maximize the attendance next year so you can get 2009 started on the right foot.
In the meantime, I hope that each of you is successful in holding down the overheads, buying low - selling high, weathering this economic storm and living to tell about it.
Please let me know if there is anything we can do for you here in the office that will help you along the journey. If your glass needs a little filling, give me a call anytime.
With warm regards,
Michael Campbell
President
michael@nmta.net
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