In this episode, Colin interviews Colm from Practical Printers, discussing his journey from a retail manager to a print business owner. Colm shares insights into transforming a traditional print business, adapting to industry changes, expanding product offerings, and maintaining strong client relationships.
He emphasises the importance of word-of-mouth referrals and the challenges of running a family business while preserving its legacy. In this conversation, Colm shares insights on the dynamics of running a business with a partner, the challenges of work-life balance, and the importance of effective communication as they grow their team.
He discusses the significant investments made in technology and how they adapted to the shift towards online business. Colm also reflects on successful marketing strategies and lessons learned from setbacks, while outlining future aspirations for the company.
Takeaways
- Colm transitioned from retail to print due to a family opportunity.
- Practical Printers has evolved from a traditional business to a modern print solutions provider.
- The importance of expanding product offerings to meet customer needs.
- Colm's background in Aldi helped him identify inefficiencies in the print industry.
- Maintaining client relationships is crucial for business continuity.
- Word-of-mouth referrals have been key to their growth.
- The print industry is changing, not dying, with new opportunities emerging.
- Understanding industry margins is essential for profitability.
- The legacy of the business is a source of pride and responsibility.
- Adapting marketing strategies is necessary for attracting new customers. The commitment of both partners is crucial for business success.
- Maintaining work-life balance is a continuous challenge for business owners.
- Growing a team requires clear communication and defined roles.
- Investments in technology can lead to significant business growth.
- Adapting to online trends is essential for attracting new customers.
- Effective marketing involves educating clients about available products.
- Building strong relationships with clients is key to retaining business.
- Setbacks in business can provide valuable learning experiences.
- Future planning should include both stability and growth strategies.
- Personal aspirations can motivate business decisions.
