Issue link: https://www.e-digitaleditions.com/i/92325
at the time, but what Peter Sheahan I didn't know it exactly what we did. Rapids described is after hearing the author of Fl!P speak at the 2012 FEDA Convention. President Joe Schmitt on an Aha Moment! repair equipment retired." "Understanding that repair and maintenance expense is a nec- essary evil in the restaurant world, it seemed like there would be a lot of interest in companies wanting to know how many dollars they were spending on each individual piece of equipment and under- standing by actual invoice data when they should replace equipment vs. continuing to that should be CRS customers are never in the dark when it comes to making an informed decision.When they call in repairs, says Faber,"we let themknowhowmany dol- lars they have spent and the approxi- mate replacement cost. " Once repair costs reach 50 percent of the cost to replace, customers receive the HotList, a report that tracks equipment repair costs and trends. It also serves as a not- so-subtle reminder that the customer should start thinking about replace- ment. "If a restaurant has $3,800 in repairs this year on an ice machine that has a $3,000 replacement cost, it would be wise for them to replace it since they would have a one-year warranty on the new item, rep at RapidsWholesale, a name they've heard before since Faber starts thework of building bridges at the beginning of the sales process. "When I initially dis- cuss our service, as well as when we sign up new customers, I touch on our relationship with Rapids, " he says. "I then get in touch with Joe [Schmitt] to assign who would be the best Rapids rep to discuss the equipment process and opportunities for new store open- ings. " ATake-Away for E&S Initially, it was just about equipment sales. Adding repair and maintenance into the mix was merely to sweeten the pot, admits Schmitt, and then there is a slow pause in which he is most certain- ly thinking about the competitive advan- tage that almost never was. "We didn't even intend to price it, " he says. "I was fully prepared to give it away but I couldn't even give it away because they wouldn't buy the equipment from me. But "they,"being local chains,were very " interested in paying a premium to get rid of their pain—repair and mainte- nance (a revelation that's worth an industrywide pause considering the trend to relent and bundle.) Hurdle No. 2 was trying to figure out " says Faber. "Based on this year's repairs, the ROI on the old piece of equipment would be under 12 months and they could have similar repairs the following year if they decid- ed not to replace it. " And once they make the decision to replace,CRS customers are referred to a how to execute. "This started as an idea in 2004 and eight years later we're still improving our processes, changing to match the needs of our customers and staying committed, " says Faber. "There is so much involved: the call center, data col- continued on page 18 reason that good ideas fail. But I actually think a bit of fear is a good thing; that's where risk management comes from. But it is a pendulum—it shouldn't be only on one or the other side. Reckless activity consistently supported with no evidence is a very bad idea because you can kill a great idea in a New York minute. Yet at the same time, inactivity from over-contemplation can be just as dangerous as poorly thought out activi- ty, so it's not either/or. Get clear on your value proposition, get your team aligned behind it and then move, even if you don't have all the answers. I think you'll find that action creates the clarity you're looking for. Source: http://www.petersheahan.com/blog/ A Note on Fear From Peter Sheahan Many people with whom I've spoken would list fear as the number one 1 6 FEDA News & Views