Issue link: https://www.e-digitaleditions.com/i/143040
Ahead of its time, Wasserstroms purchased its first computer, an IBM System 3, in the late 1960s. Pictured are Albert Wasserstrom (center), computer operator Tom Rush (seated), and associates Jim Hauser (left), and Frank Fancelli. Industry Insights continued Amazon or UPS Supply Distribution, depending on who you ask.Will this ultimately be the end? I don't think so.We dealers are an innovative, resilient bunch.Take the last recession for instance. I am still astonished by how few of us were unable to survive the worst economic downturn since the Great Depression and are now once again in growth mode. This is not to say, however, that these challenges have had no effect on our business. For most of us, the most devastating impact has been margin erosion.We have managed to maintain our place in the distribution channel. But it is becoming increasingly difficult to produce the profit dollars necessary to continue to provide the services that our manufacturers desire and that the end users really want and need. And when you factor in increased health care costs, reduction of tax benefits, other government incentives, and ever-rising energy costs, as in the past, the future looks daunting. But we must rise to the challenge—and we will. I'm certain of it. K President's Message continued what worked for us may or may not work for another. What I will tell you is that getting sound advice from professionals you trust is key. There are many things to consider from the more obvious, legal and financial, to what can be the tougher aspects to consider. If there are multiple relatives in the business,how will they all handle the plan? What if the most qualified to run the business is not a family member? How you manage all of these and many more will determine the success of your transition. This year FEDA is celebrating its' 80th Anniversary.What are you doing to move your company down the road for the next five, 10 or even 20 years? Do you know where you are going and do you have a map to guide you there? K 44 FEDA News & Views