News Source For The Physical Security Industry

As many owners of security companies are looking for ways to grow their business, horizontal integration is the fastest way to do so. By purchasing another company and combining it with your own, it gives your business opportunities that would otherwise not be available. The moment a contract is signed, you reduce your competition, expand your customer base, gain the ability to reach new markets, and improve your market power. If done correctly, your revenue could grow dramatically. 

In the fast-evolving world of electronic security and life safety, it’s easy to stay laser-focused on growing your business, managing operations, and serving your customers. But there’s another responsibility we share—one that doesn’t always show up on a balance sheet yet has a powerful impact on the future of our industry: active participation in the Electronic Security Association (ESA).

In Part 2, we’re zooming out to look at the broader industry picture: how Apple might enter this market, their potential strategy upon their entrance, and the effect it could have on how alarm dealers and integrators could approach their existing and potential customers. There’s plenty to unpack, and even more reason to keep your eyes on what’s going on in Cupertino, CA.

Our team was represented well as we kicked off our (and many others) week hosting ISC/SIA’s Got Talent at the ROCKHOUSE, where more than 650 guests attended thanks to the extraordinary sponsors.  As it turned out, yes, some of those who braved the stage to karaoke that night did have talent.

Credit card processing fees have traditionally been seen as a cost of doing business, with the benefits outweighing the associated costs.  The benefits of receiving Recurring Monthly Revenue (RMR) payments by credit card includes timely payment by the customer, increased cash availability, reduced collection costs, and reduced attrition due to non-payment.   Many Electronic Funds Transfer (EFT) merchant payment processors also offer the ability to automatically update credit card expiration dates, effectively preventing failed transactions which often resulted from those change in dates.  Offering a credit card payment type was also seen as a competitive advantage over companies who did not offer this benefit.  This was all true while inflation was kept at bay.  

Taking on a sales role in the electronic security industry, or any industry, is not for the faint of heart. It requires persistence, confidence, and a deep belief in the value of the solutions we offer. And yet, even the most seasoned sales professionals can find themselves paralyzed by fear – of rejection, of not knowing enough, or of failure.

Running a business is often a rewarding endeavor, but it also comes with its own set of challenges and stressors that can lead to sleepless nights. Business owners juggle multiple responsibilities, from managing finances to ensuring customer satisfaction, and the weight of those duties can create significant anxiety. Each month, I have the pleasure of speaking with many of these owners who are willing to share what is causing them to lose sleep and how they are working to overcome it.