DisTribute

Honoring our Military on Memorial Day

Today we honor all those brave soldiers who’ve given their lives in the service of our country and say a sincere thank you to those who’ve served in our military - past and present. There are many ways to help and honor those that have served, and continue to serve, in the military. Here are just a few:

 

 

Support our wounded warriors – get involved in the Wounded Warrior Project or The Yellow Ribbon Fund – organizations that help wounded warriors and their families cope.

 

 

Through the USO website, write a short message to a service member overseas and let them know how much their sacrifice means to you. Or sponsor a USO care package.

 

Recycle your old cell phones by mailing (at no cost to you) to Cell Phones for Soldiers: a non-profit organization started by two teenagers to provide prepaid calling cards to US troops serving overseas.

 

Buy a cup of coffee (or iced tea) for a soldier in Iraq or Afghanistan through Green Beans Coffee’s Cup of Joe for a Joe program. For only $2 you can provide a personal note with a refreshing drink to let a soldier know they are appreciated. And many will write a thank you in return.

 

Make a donation to Our Military Kids, an organization that supports the children of deployed members of the National Guard and military reserve. Or volunteer to help military families through the new national initiative, Joining Forces, a national campaign launched by Michelle Obama and Jill Biden to support our nation's military families.

 

Help out the military’s four footed soldiers by making a donation to Military Working Dogs Cooling Vest Project.

 

Hire a veteran. As you know, vets make great employees. Check out Hire Heroes USA for a list of 10 reasons why hiring a vet is good for your company.

 

The Paperless Office: Document Imaging & Management by Enlighten.Net

The cost of paper document storage and management is staggering:

• A typical employee spends 30% - 40% of his time looking for information locked in e-mail, documents, shared hard disks and filing cabinets
• The average document is copied 9 to 11 times
• Filing costs average $20 per document
• 18 minutes is the average search time for a document
• When an employee leaves a company 70% of his knowledge walks out the door
• Each misfiled document costs $125
• Each lost document costs $350 to $700
• More than 70% of today's businesses would fail within 3 weeks if they suffered a catastrophic loss of paper-based records due to fire or flood.

Sources: AIIM, ARMA and Gartner

Paper documents are hard to share, costly to file, take up a lot of storage space, and are difficult to retrieve. Wouldn’t it be great if you could eliminate all that paper, store it on your server, and retrieve it with a simple click on a link? Document management solutions like those offered by Tribute partner Enlighten.Net offer a way to do that and gain the following:

Cost savings
One of the biggest hidden costs that paper-intensive businesses face is the time it takes to work with paper files: employees spend valuable time walking to and from central records rooms and finding and replacing documents. A document management solution makes employees more productive, since they can work with those documents without ever leaving their desks. Document management solutions also eliminate the costs of lost documents, and can even provide savings in the form of reclaimed office space that had been used for paper storage.

Security
If you’re not taking data security seriously, you should be. Threats from outside (competition, identity thieves) and inside (disgruntled employees, employee theft) threaten the integrity and value of your most important information. Document management solutions can provide security as to who can have access.

Other benefits:

• Disaster recovery. Document management solutions typically include off-site data backups and other steps to ensure that a fire, flood, or break-in won’t cripple your business.
• Access. The right document management solution allows more than one person to look at a file at the same time – and gives your employees access to vital records from wherever they are. In addition, publishing rights allows employees to see and change only the documents they’re authorized to handle.
• Process consistency. One benefit that matters more to larger companies is that a document management solution will enforce consistency. No longer will consistency in filing, naming conventions, and workflow suffer as you add new employees or cover for vacationing staff.

To sum it up, the document management solution from Enlighten.Net provides:

• Reduced operational costs and administration time
• Easy, instant access to information
• Increased productivity
• Increased security and backup

For more information, contact Jan Chapin. Enlighten.Net will also be at the Tribute’s User’s Group Meeting in June.

Enlighten.Net, Inc.
Jan Chapin
Direct: 860.269.8005
11 Talcott Notch Road
Farmington, CT 06032
Email: mailto: jchapin@enlighten.net
www.Enlighten.Net ~~ Manage Your Knowledge, Enlighten Your Business

How To Use a Technology Analyst Firm

After the past few years of tightening budgets, many small business owners are now spending money on new technology. Spiceworks™, Inc., the world’s largest social business network for IT, released the results of its bi-annual State of SMB IT survey of technology purchasing and adoption trends among small and mid-sized businesses (SMBs). According to the survey results, SMBs are continuing to expand IT budgets, which now average $152,000 per year.

Many small business owners are overwhelmed by all the new technology available and what it means to their business. With staff stretched thin, it’s difficult to devote the time to researching the many options available. That’s where having the input of a good Technology Analyst Firm is invaluable.

Robert Eastman, an analyst with Calyptus Consulting and co-founder of SMB Research (a technology advisory firm), provides an informed insight into what you should be looking for in a technology analyst firm.

“It’s a difficult task because the analyst firm industry has many flavors, business and revenue models, services, and deliverables. Analysts are often lumped in with consultants and consulting, and, for many, even the lines between analysts, consultants and resellers, VARS and MSPs (managed service providers) are blurry,” states Eastman.

Listed in his article are some insights into what a technology firm is, the value propositions and objections to using a technology analyst firm, and tips for working with a technology analyst firm.

Click here for the full article.

Robert Eastman, an Analyst with Calyptus Consulting (a consultant firm focusing on procurement, and procurement training, in the public and private sectors), and Co-Founder of SMB Research, has more than 30 years of experience working in discrete, hybrid and process manufacturing industries and has worked with companies on technology initiatives, strategic technology decisions, tactical issues, and mission-critical inquiries.

Gates: Hose Design, Monitoring, Diagnostics & Identification

Gates Corporation has developed technology to help find the right parts when designing hose assemblies and offers a comprehensive and effective hose diagnostic, monitoring and data solution for those assemblies.

Gates’ new DesignConnect™ allows design engineers to download 2D dimensioned drawings and 3D models of Gates couplings and adapter products. The right parts can now be found quickly with Gates’ web based interactive product catalog of Gates hose, couplings and adapters. It lets you pick the right parts via a high-speed, easy-to-use search engine, then download solid models for use in your own CAD environment. Pro/ENGINEER® users can drag-and-drop these models directly into their designs.

Once the products are out in the field, you can then use their comprehensive and effective hose diagnostic, monitoring and data solution, Sentry™ Services. A complete preventive maintenance solution, Sentry Services allows fleet managers and equipment operators to avoid failures, estimate remaining hose life and accurately identify hoses for replacement.

Sentry Services consists of two components:

• Sentry™ IQ Service provides real-time monitoring and diagnostic information about current operating condition and performance of hose assemblies.
• Sentry™ ID Service is a unique, radio frequency tagging system that lets you identify and track specific hose assemblies operating worldwide.

You can use the Gates Program page to find a wide range of Hydraulics & Hose industry articles and check out their social networking page to find their info on YouTube, Twitter & Facebook or a community or blog you may be interested in. Tribute has partnered with Gates Corporation to streamline their distributor's supply chain and cut costs by the integration with their PowerPro program and many other features. Click here to see the benefits Tribute, Inc. offers to Gates distributors.

Overcoming Price Pressure

The economic downturn has dramatically changed the spending environment. Today, customers are looking for the best "deal" they can get. And for most customers, a good deal is all about getting the lowest price.

However, most salespeople lack the skills necessary to successfully overcome downward price pressure. As a result, they are forced to discount their asking price in order to get the sale.

Most sales managers are keenly aware of the fact that price discounting has a negative impact on your bottom line. But little thought is given to the fact that price discounting reinforces the customer's false perceptions about the value of your products and services.

Robert Nadeau, managing principal of the Industrial Performance Group, addresses how salespeople can overcome price pressure by calculating and communicating their product's value in terms of dollars-and-cents, in the current issue of Channel Focus. (Click link to read entire article).

A Few Interesting Facts About Manufacturing

Although manufacturing has become a smaller share of the nation’s economy over time, it remains a crucial engine of job creation and economic growth. Rather than outsourcing, companies are increasingly choosing to invest and create jobs in the United States.

While companies across industries are bringing jobs back, this trend is particularly important in manufacturing and, consequently, for their distributors.

The U.S. Department of the Treasury publishes an informative blog, Treasury Notes, which recently included a great infographic by Jenni LeCompte titled A Few Facts About Manufacturing, containing good news for distributors. Did you know that…

• Manufacturing has made up 37% of the total economic growth since 2009
• 485,000 jobs were added in manufacturing since February 2010
• Manufacturing is responsible for 9% of employment, 12% of Gross Domestic Product, 60% of Exports and 69% of Private R&D Spending

Also this week, the Brookings Institute released a comprehensive analysis of the metropolitan geography of US manufacturing. The report, Locating American Manufacturing: Trends in the Geography of Production, has some lessons on what we can glean for a more robust future.

The report contains several interesting findings:

• Insourcing is popular again.
• Most manufacturing plants are smaller than you think. In fact, the average metropolitan manufacturing plant has only 57.4 employees.
• Geographic clustering of companies in the same industry or related industries - along with the educational, R&D, business, and labor institutions that support them - provides many advantages. These geographic benefits are not simply natural advantages but also advantages created by public policy.

In fact, organizations like NorTech, a regional non-profit economic development organization serving as a catalyst for growing Northeast Ohio's emerging technology industries, is a prime example of the benefits of this trend. Led by Chairman (and Tribute president) Tim Reynolds, NorTech is leading efforts to develop regional innovation clusters that create jobs, attract capital and have a long-term, positive economic impact in the technology and manufacturing sector in northeast Ohio, including the anticipated shale gas boom.

Goodyear Engineered Products / Veyance Technologies Utilizing RFID to Track & Monitor Hose & Belting

As RFID (Radio Frequency Identification) products improve and get smaller, manufacturers are taking advantage of the technology to automatically track and monitor their products. Goodyear Engineered Products / Veyance Technologies has Implemented RFID to enhance traceability and improve operational efficiency with its hose and belting products.

Improved Belt Monitoring

Veyance Technologies invented and introduced the original Sensor Guard in the mid 1970s, and began worldwide distribution by the mid 1980s. Sensor Guard® is a rip detection system that protects conveyor belts with advanced capabilities that keep belt rips to a minimum, saving users time and money. The latest advanced design involves RFID Technology, improved loop design, and Ethernet connectivity.

Sensor Guard works on the premise of closed-circuit loops and RFID tags embedded in the belt, monitored by electromagnetic detectors placed at high potential damage points. As the conveyor moves, these loops and tags pass over the detectors which generate output pulses.

If the belt begins to rip, a sensor loop is also cut. As this cut loop passes over a detector, no pulse is generated. The lack of pulse is recognized by the control unit, which signals the drive controls to shut the conveyor down to minimize further damage. The recorded tag information positively identifies the location of the damaged area.

Hose Tracking

Hose Trakker Online powered by InfoChip is a serial number-based hose tracking system jointly developed for Goodyear Engineered Products by InfoChip Systems Inc. Goodyear Hose Trakker Online takes the guesswork out of hose maintenance.

With a click of a mouse, the web-based tool monitors inventories, product location, maintenance schedules and test history of industrial hose assemblies. The on-line tracking system provides end-users with detailed hose assembly records and helps ensure consistent, reliable hose assembly performance throughout the life of a product.

Slash Your Business's Gas Costs

Gas prices are unlikely to go down anytime soon. Small-business owners are paying more each month to fill up both personal and business vehicles. Businesses with a traveling sales force or repair service can be especially hard hit.

What can you do to keep gas costs down at your business? This article by Jennifer Gregory for the OPEN Forum offers the following tips:

• Use photos for estimates. Often a job requires two trips to the client site — one to give an estimate and another to do the work. Depending on the type of job, you may be able to eliminate one trip by having customers e-mail you photos that show what they need done.
• Drive at night. Engine idling and air conditioner use dramatically increases gas consumption. So, consider making deliveries or driving to out-of-town business meetings at night.
• Be creative with credit card rewards. You might save money by using a gas credit card with cash-back and/or rewards programs. Or try a card such as the American Express Blue Cash Everyday Preferred card, which offers cash back on gas purchases. Try a website such as NerdWallet to compare credit cards.
• Use load boards for long-distance deliveries. Load boards, such as GetLoaded.com and TruckBuzz, help connect truckers who have space on their trucks with companies that need to ship items.
• Make each trip on the road count. Strategically group your appointments, or establish an informal rule that no one is to go out on an errand without asking all other employees whether there’s anything they need.
• Get online instead of on the road. Check with suppliers and retailers that you frequent and see if they offer free shipping or other incentives for online ordering. Consider whether some meetings can be held via video conferencing or phone call.

Another article by Carol Tice for MSN Business on Main offers these additional ideas:

• Use technology. Check out gas-comparison tools like the Cheap Gas! app or GasBuddy to find the cheapest prices.
• Don't overlook grocery stores. If your company is a member of a warehouse club like Costco, you might fill up at their gas stations, where prices are usually below average. Or, if you shop at a grocery storesthat has a gas station, you may be able to apply store credits against your gas bill or take advantage of discounted gas cards.
• Slow down. Speeding burns more gas, so stay under the speed limit.
• Do work on site. Instead of hauling repair work back to the shop just to bring it back again, consider doing repair work at customers' locations.
• Reschedule. If you're paying commuting costs for workers, consider letting some staff work remotely or on a four-day schedule.

IDCO: Purchasing Power for Distributors

Originally posted in May of 2010, we decided to run this article again to remind distributors of the benefits of this organization. Tribute customer, Hose/Conveyors in Eagan, MN, recently joined IDCO and told us about their significant savings with the advantage of greater buying power.

A cooperative (often referred to as a co-op) is a business organization owned and operated by a group of individuals for their mutual benefit. The Industrial Distributor Co-Op, IDCO, is a successful example of this concept, with distributors banding together to take advantage of the purchasing power of the collective group. Chartered in 1992, IDCO was formed to give distributors in the industrial and hydraulic hose, fittings and accessories marketplace, regardless of sales volume, the ability to purchase hose and accessories at a competitive price to compete against the big boxes.

IDCO negotiates with endorsed suppliers to provide competitive pricing for members. Their size and buying power allows them to negotiate very competitive pricing and also allows them to prepare supply agreements with major national accounts, providing local supply from experienced, local professionals. With nearly 80 manufacturers providing these goods, IDCO members realized over $728,000 in rebates in 2008, averaging nearly $15,000 per member. IDCO has 55 member companies with 117 shipping locations throughout the US and Canada.

Bob Lyons, past president of IDCO, has years of experience on both sides of the table. He worked for a number of years at Dayco and later owned a distributor company where he became involved in IDCO’s founding. For the past nine years he has headed up the cooperative and states, “Our emphasis is to keep independent distributors independent and profitable. The combined purchasing power of all our members has enabled us to remain competitive in the global market place.”

IDCO doesn’t necessarily fit the mold of a typical co-op, according to Lyons. The group is judicious with the members it signs up. It tries not to have two members in direct competition in the same trading area. “We’re not after numbers,” Lyons says, “We’re after the quality of the distributor, someone that knows how to go to market.”

The core focus of IDCO is in the hose, fittings and accessories marketplace, but is sensitive to the product needs of its members. “If they have a specific need to source, quite frequently we’ll bring in new suppliers and provide it,” states Lyons. IDCO also gives smaller independent distributors the opportunity to share a container shipment of product in cases where they wouldn’t be able to afford it on their own.

IDCO also provides an obsolete inventory program - a listing of inventory that a member would like to sell at discount to other members circulated by IDCO at no charge. Other value-added benefits include an excellent freight program, UPS discounts, and advertising/promotional items at reduced rates.

IDCO is looking to provide full coverage throughout the US and expanding further into Canada. Also on the agenda - expanding into Europe, both in terms of members and suppliers. Currently 25% of the member companies are Tribute customers who find membership an added benefit in this tight economy. Lyons says that the tough economy hasn’t caused them to lose any members. “If anything, membership has helped our members because it’s the best time to realize how important it is to look for value in all parts of your business”. Distributors interested in the benefits of IDCO membership can find more information on IDCO’s website www.idco.coop or by contacting Ginger Williams, interim president, via email.

Resources for Pump Distributors

Are you in the business of pump distribution, service and repair? There are quite a few resources on the web that are a great way to keep up with the industry and can help you with your business.

The website, Empowering Pumps, has a wealth of information organized by industry and application and current news on the pump and fluid handling industry. A wide gamut of industry pros write regular articles on everything from Marketing to Life Cycle Costs to Maintenance and Reliability. The events and training center features onsite events plus online training courses and webinars. The site also includes a career center to help businesses find employees with pump experience or post job opportunities within your company.

Publisher Charli Matthews writes about the pump industry in her blog and includes visits to pump distributors like Tribute Customer Pump Pro’s. She visited their branch in Chatom, Alabama and learned “that behind every Pump Pro there is experience, state of the art equipment , engineering tools, and service with a smile!”

GlobalSpec has resources for a number of industries, including fluid handling and a wide variety of pumps. Their Global Insights section contains results from user surveys – a great way to get information from your peers.

For example, they have a Q&A forum about hydraulic pumps with questions like: What new technologies are influencing hydraulic pump design? What are some of the applications you have used a hydraulic pump for? And Do you have any advice for people relative to buying or using a hydraulic pump?

GlobalSpec also contains a large technical library with numerous articles on everything pump and fluid handling relatedfrom Avoiding Pump Problems to Handy Formulas to Help You.

Rehearsal Tips for Presentations

Do you have a presentation coming up? Try some of these tips to memorize your material, calm your nerves, and prepare for a successful presentation.

A common reason for anxiety is the fear that we will forget something important that we wanted to say. Many people combat this fear by creating detailed PowerPoint slides as a memory aid. But, this can actually signal to the audience that you are too reliant on your slides and not credible. Try some of these memory tips instead, as suggested in this article by Bruna Martinuzzi for the OPEN Forum:

• Use the Palace Method. Humans remember things on the basis of spatial locations. To use the Palace Method (also called "method of loci"), To create a memory palace, think of your home, a familiar street, or some other memorable place. Mentally walk around your home, street, etc. and number stops along the way. On each stop, you place a piece of information that you want to recall.
• Use mind maps. Mind maps are diagrams that allow you to lay out all of your presentation material in a visual shape rather than in list form. Try practicing your presentation from a mind map instead of traditional notes and see what happens.
• Know the value of focusing for eight seconds. Memory experts tell us that it takes an uninterrupted eight seconds for a piece of information to be processed into memory. Carve out dedicated time when you can be laser-focused on rehearing the information without any interruptions.
• Practice the 20-20-20 rule of rehearsal. How long should you be rehearsing your presentation? Memory experts recommend the 20-20-20 rule which prescribes going over the details of a presentation for 20 minutes, then repeating the same material twice more.
• Rehearse out loud. Try rehearsing your entire presentation out loud at least five or six times.
• Practice to music. Consider listening to music (such as classical music with approximately 60 beats per minute) while rehearsing your presentation to help you absorb and retain large amounts of information.
• Record your presentation. A simple, yet surprisingly not widely-known, feature in PowerPoint is the record narration function. This allows you to record yourself delivering your presentation and then playing it back. Hearing yourself narrating your presentation will provide you both a visual and auditory memory aid.
• Rehearse before bedtime. Neuroscientists have found that sleep enhances the consolidation of recently-acquired information in our memory system. Therefore, if you rehearse your presentation just before bedtime, you are more likely to remember the material more easily in the morning.

Here are some additional tips on preparing for a presentation, from Matthew Brown of Presentation Magazine:

• Practice your presentation several times
• Practice in front of trusted friends, family or colleagues
• Record yourself
• Learn your presentation in segments
• Prepare prompt cards
• Rehearse at the venue – or in a similar environment

Do you get extra nervous when speaking in public? Try these pointers to manage presentation nerves, courtesy of this article from Mind Tools:

• Know Your Audience. The more confident you are that you are presenting your audience with useful and interesting material, the less nervous you will be overall.
  • Define who your target audience is.
  • Ask people who are representative of the audience what they expect from the presentation.
  • Run your agenda by a few people to see if they think something is missing or is overkill.
  • Greet audience members at the door and do a quick survey of why they are there and what they expect.
• Know Your Material. You don't have to be an expert, but you'd better know your material very well on presentation day. Consider selecting the most pertinent points from your subject base and then supplement with other material if time allows.
• Structure Your Presentation. Try these techniques to give yourself clues to what is coming next:
  • Have a set of key phrases listed on a cue card.
  • Refer to these phrases to trigger your mind as to what is coming up next.
  • If you're using slides, use these key phrases in your transitions.
• Practice, Practice, Practice. Familiarity brings confidence, and practice helps you to deliver the words naturally.
• Prepare, Prepare, Prepare. Once you know what you are going to say, you need to prepare yourself for the actual delivery.
  • Decide what you are going to wear – make it comfortable and appropriate.
  • Arrive early and get your equipment set up.
  • Anticipate problems and have backups and contingencies in place in case something doesn't work, you forget something, etc.
  • If possible, give everything one last run through in the real environment.
  • Prepare responses to anticipated questions. Try to think like that one person in the front row who always tries to trip the presenter up.
• Calm Yourself from the Inside. Counteract the physiological effects of nervousness with these techniques:
  • Practice deep breathing
  • Drink water 
  • Smile 
  • Use positive visualization techniques
  • Press and massage your forehead to energize the front of the brain and speech center
  • Just before you start talking, pause, make eye contact, and smile 
  • Speak more slowly than you would in a conversation, and leave longer pauses between sentences
  • Move around during your presentation to expend some nervous energy
  • STAY or Stop Thinking About Yourself. Remember that the audience is there there to get some information and it is your job to convey it.

Tribute Customer Spotlight: Hydrotech, Inc.

Hydrotech, Inc. is a fluid power/motion control distributor and solutions provider for Ohio, Kentucky, West Virginia and Indiana and distributes products from the world's leading manufacturers of fluid power components in the industry including Bosch Rexroth, Sun Hydraulics, Hydac International, and over 40 other original equipment manufacturers.

Celebrating its 45th anniversary this month, Hydrotech, Inc. was originally established as the Hydrotech Engineering Company in 1967. Hydrotech changed its name a year later and adopted the Dolphin logo to signify its mission – providers of Intelligent Fluid Power. President Rex Wetherill and CEO Pete Jones talk about the history and capabilities of Hydrotech in this 2010 interview with Larry Grypp of the Goering Center Report.

Representing approximately seven fluid power manufacturers in 1969, Hydrotech merged with another sales company and continued to add more lines and services, including the entry into the design and sale of lubrication systems and components.

The first branch office was opened in Columbus, Ohio in 1972. The rapid growth of the lubrication portion of the business prompted the opening of a Cleveland office in 1977. The recession of 1982 led Hydrotech to expand their customer base to offset the dependency on the machine tool market.

The diversification of product offerings into the motion control marketplace and the representation of Rexroth Corporation led to further growth and the addition of the Louisville, Kentucky and Dayton, Ohio offices in 1979. Hydrotech moved and expanded its warehouse space in 1983 and the focus was directed toward value-added services. The assembly and testing of packaged lubrication systems, hydraulic assemblies and power units, along with system integration capabilities on the electronic side, allowed Hydrotech access to new markets and opened the way for total hydraulic system design, assembly and maintenance and turnkey systems.

In 1995, Hydrotech moved to its current headquarters and implemented the Tribute Software System. Hydrotech serves a four state region and a variety of industries with inventory located in their Cincinnati and Cuyahoga Falls (formerly Atlas Fluid Components) facilities. Their division, EnPro, was added in June 1996. The EnPro Division is involved in environmental and process products, including aviation fuel filtration, aviation fuel nozzles and components, oil/water separation, tramp oil/ coolant separation and filtration, air/oil separation, and chemical separation of fluids.

Hydrotech also entered the meter/mix field in 1998 and supplies both components and systems for precisely metering and mixing various materials for adhesives, epoxies, lubricants, etc. The systems supplied are turn-key, with custom software development for accurate electronic control.

Developing an established service and repair capability, Hydrotech has earned a reputation of servicing what they sell by employing factory-qualified personnel for servicing and repairing all hydraulic components, including servo and proportional valves. They design and build complete hydraulic power units, systems, and provide installation and commissioning services.

About their success, Rex Wetherill, president of Hydrotech, states, “One of the keys to our success at Hydrotech, Inc. has been a strong focus on giving our customers an advantage. To solve any problem that may arise, we employ a workforce made up of extremely knowledgeable professionals including a sales team that are experts in their field, an innovative engineering department that can deliver customized solutions, a highly effect production and repair sector, and a family oriented group of leaders dedicated to the success of our customer's future. This collective team of specialists is dedicated to keeping every aspect of our business and deep range of services aimed toward solutions that make the job easier and more cost effective for our customers.”

Their family-oriented culture was responsible for the formation of their division, Got-Autism, LLC, which supplies the best therapeutic, educational and sensory solutions for the autism spectrum. April is National Autism Awareness Month and Got-Autism is offering a 10% discount on all products if you enter the coupon code “Hydrotech”. To read more about what Got-Autism offers and how it was founded, click here.

To facilitate communication, Hydrotech sends out a monthly newsletter and utilizes social media tools, like LinkedIn, Facebook, Twitter and YouTube, to connect with and educate customers.

CEO Pete Jones credits Hydrotech’s customer-centric approach for their success. “One of our primary objectives is for our customers to be successful. We’ve prided ourselves on our consultative approach. If we listen and really understand what our customers are looking for, we can assist them to be successful with their customers.”

Do Your Inventoried Items Have Birthdays?

by Mark Tomalonis
President, WarehouseTWO

Do you have anything in stock that has been there for more than a year? Two years? Do your inventoried items have Birthdays??? Before an inventoried item has its first Birthday, consider these strategies to get rid of it and recover your investment:

1. Identify Unwanted Inventory Every Month
   The longer an unwanted item sits in stock, the harder it is to get rid of it. Have a process or discipline that identifies unwanted inventory every month. Doing so will make it much easier to take the suggested actions below. Identifying unwanted inventory every month should be someone’s assigned responsibility.
2. Sell It Locally
   Who used to buy this item? Try to sell it to them. Reduce the price if you have to. Sell it at a loss, if just to recover most of your investment.
3. Sell It via WarehouseTWO
   Expand the available marketplace for your unwanted inventory, by making it available to peer distributors. The item may have no demand in your local territory. But it might, somewhere else in the world. Formalized inventory-sharing at WarehouseTWO can expose your inventory to thousands of end-customers, through dozens of peer distributors. Attend our training webinar titled “How to Upload Inventory Data” to learn how to grow the demand for your items at WarehouseTWO. Click here to register for this webinar, or for any of our free training webinars.
4. Return It
   Take advantage of every annual/periodic inventory exchange offered by your manufacturers. Returning an item for credit (or in exchange for a like-value purchase of other items) is an easy way to get rid of unwanted inventory. Make sure that you have a formal process and schedule to take advantage of such policies. Managing periodic returns should be someone’s assigned responsibility. Be aware of any limitations to what can be returned/exchanged, such as items whose warranties have expired.
5. Substitute It
   If your unwanted item can be used in place of an active item, create a process or discipline whereby your customer service representatives offer up, at an attractive price, an unwanted item whenever a customer asks about a similar, active item. WarehouseTWO’s Related Items functionality lets your unwanted items appear in SEARCH results when another distributor searches for a similar, more popular item at WarehouseTWO. Click here to learn more about this powerful feature.
6. Convert It
   Disassemble, reassemble or modify an unwanted item to convert it into a more active item. For many industrial products, options can be removed or replaced, and components (such as trim or seals) can be changed.
7. Sell It to a Surplus Dealer
   If you can gain a greater financial benefit than from simply writing it off, consider selling your unwanted items to a surplus dealer who caters to your industry.
8. Donate It
   Donating inventory might have the same financial effect as writing it off and disposing of it, but a donation benefits a non-profit organization. One of our favorite organizations is FIRST, the robotics competition organization for primary and secondary school students. This organization is known to accept fluid power and industrial automation products, to be used in their competitions.
9. Write It Off
   The only guaranteed way to turn excess inventory into cash is to throw it away and write it off. For those of you in the U. S., it’s tax season. How much inventory did you write off for 2011? Did you take all of the above actions prior to writing it off? What will you do differently in 2012?

Tribute, Inc. has partnered with WarehouseTWO to offer customers a streamlined inventory sharing process. WarehouseTWO is also an inventory sharing network for the Eaton Hydraulics team and Parker Fluid Connector, Hydraulic & Instrumentation Groups. If you’re going to the NAHAD Annual Meeting in Las Vegas, you can find Tribute at Booth #27 and WarehouseTWO at Booth #85.

It's Tax Time!

It's tax season! And while hopefully you already have your taxes taken care of for this year, it never hurts to take a look at your business strategies and think ahead to next year.

The OPEN Forum has compiled a list of articles to help answer common tax-related questions and help clarify the filing process. You can view the full list here, but highlights include:

• Should a small business do its own taxes?
• How to minimize what you owe and maximize your return
• How to choose an accountant you can trust
• 3 most common mistakes made when filing business taxes
• The future of online sales tax
• Planning ahead: 5 ways to save money on your 2012 taxes

The OPEN Forum has also created this interesting infographic to show a snapshot of business taxes in the United States.

 

Spiceworks: A Social Network for IT

Does your company have a small IT staff? Don’t let them feel alone – harness the power of Spiceworks™, an online IT community with a multitude of free resources, support, and tools.

Founded in 2006, Spiceworks is the world’s largest and fastest growing social business network for IT. By combining free IT management software with a Facebook-like community, Spiceworks helps over 1.8 million IT professionals to discover, buy and manage $300 billion worth of technology products and services each year.

The Spiceworks community is a force to be reckoned with! They call themselves SpiceHeads…wear Spiceworks gear proudly, and hail a fierce yet friendly orange T-Rex (affectionately named “SpiceRex”) as their mascot.

You can interact with other Spiceworks users and communicate with other IT pros to share tips, product & vendor recommendations. Spiceworks provides whitepapers, webinars, and free trials along with readily accessible help, training and support resources that allow you to get the most out of IT!

Spiceworks also allows you to keep track of the latest news, stats, data and trends in IT and bundles network monitoring, helpdesk, UPS power management, RFQ, PC inventory tools, mobile apps, a blog and an online community, all for free.

This article on Disaster Recovery, Ensure your DR Plan is ready for a Zombie Apocalypse, by Justin Davison, is just one example of the wealth of information you’ll find on this site.

Spiceworks has teamed up with Eaton Corporation to offer the industry’s first free power management software features that allows its small-to-medium business users to remotely monitor and manage uninterruptible power systems (UPSs) for free through Spiceworks.

Dixon Valve’s Mobile & Web App’s

Dixon Valve’s new mobile app features their King Crimp calculator, Dixon Quick Coupling Global Interchange and Dixon on the Web.

The King Crimp Calculator allows the user to enter hose dimensions with a resulting crimp diameter and corresponding sleeve, ferrule and fitting part numbers all linked to the product’s specification page on the Dixon website.

The Dixon Quick Coupling Global Interchange allows the user to quickly cross-reference Dixon Quick Coupling part numbers with those of other manufacturers.

This app is designed for both iPhone and iPad and is compatible with iPhone’s 3GS, 4, 4S; iPod touch (3rd & 4th generation); and iPad. Requires iOS 4.3 or later.

Dixon Valve’s YouTube Channel is another educational resource with a large selection of videos on subjects ranging from hose coupling procedures to what is included in a Dixon Safety Survey.

Strategic Thinking: Is It A Priority?

If you are a business owner or manager, you know you should be thinking strategically to keep your business on the right track. It can be difficult to find the time to devote to strategic thinking when you are busy dealing with upset customers, late shipments, personnel issues and a myriad of other day-to-day problems. But it is essential to move beyond this reactionary mindset and devote time on a regular basis to strategic analysis for the health of your company.

An article by Ethan Hale for Fast Company lays out three ideas that may help you find the time for strategic thinking:

1. Prioritize your planning time as if it were a client. Schedule time each week (30 minutes, an hour, whatever you think is necessary) for strategic planning and treat it like a client engagement.
2. Find an accountability partner. This could be a fellow business owner, friend or family member. Tell the individual that you recognize the need for strategic planning, and ask them to check in on you each week to make sure that you’re spending the necessary time.
3. End each strategic session with an action list. Identify 1-3 action items that will help you accomplish your big-picture objectives. Include a timeline and identify which employees are responsible for each element.

What are some specific areas to focus on while you are doing your strategic thinking? Try these ideas, courtesy of a column by Paul J. H. Schoemaker for Inc magazine:

• Anticipate. Most companies focus on what’s directly ahead. To anticipate well, you must:
  • Look for game-changing information at the periphery of your industry
  • Search beyond the current boundaries of your business
  • Build wide networks to help you scan the horizon

• Think Critically. Critical thinkers question everything. To master this skill you must force yourself to:
  • Reframe problems to get to the root causes
  • Challenge current beliefs and mindsets, including your own
  • Uncover hypocrisy, manipulation, and bias in organizational decisions

• Interpret. A good strategic leader holds steady in the face of ambiguity, synthesizing information from many sources before developing a viewpoint. To get good at this, you have to:
  • Seek patterns in multiple sources of data
  • Encourage others to do the same
  • Question prevailing assumptions and test multiple hypotheses simultaneously

• Decide. Don't fall prey to “analysis paralysis.” You must develop processes and enforce them, so that you arrive at a “good enough” position. To do that well, you have to:
  • Carefully frame the decision to get to the crux of the matter
  • Balance speed, rigor, quality and agility - let go of perfection
  • Take a stand even with incomplete information and amid diverse views

• Align. A strategic leader must foster open dialogue, build trust and engage key stakeholders, especially when views diverge.  To pull that off, you need to:
  • Understand what drives other people's agendas, including what remains hidden
  • Bring tough issues to the surface, even when it's uncomfortable
  • Assess risk tolerance and follow through to build the necessary support

• Learn. Success and failure - especially failure - are valuable sources of organizational learning.  Here's what you need to do:
  • Encourage honest, rigorous debriefs to extract lessons
  • Shift course quickly if you realize you're off track
  • Celebrate both success and (well-intentioned) failures that provide insight

It’s easy to overlook the importance of strategic thinking. But if you want your business to thrive, it’s vital that you spend time planning on a regular basis. You can’t afford not to!

More Companies Ready to Start Hiring Again

A growing number of chief executives at U.S. companies say they are more optimistic about the economy and plan to step up hiring. According to a recent Business Roundtable survey, 42 percent of CEOs said they planned to add staff in the United States over the next six months. This is a 16 point improvement from the December reading and more than double the 16 percent of CEOs who expect to cut jobs.

Another recent poll by KPMG International found overall high optimism for higher revenues, profits and new business in the coming 12 months among manufacturing- and service-industry exectutives. The survey reports more than 92 percent of U.S. manufacturing executives said they expect hiring demand to increase or remain the same in the next 12 months, up from 89 percent in October. This includes 37 percent who expect hiring to increase, up from 30 percent.

When your company is hiring, what do you look for in a potential employee? There may be specific skills or certifications that a position requires, but what about traits like attitude or a good "fit" with your team? You can read some CEOs' thoughts on finding the right employee in this article from Smart Business.

When it comes time for the interviewing process, what should you ask of the candidate, in addition to the usual interview questions? How do you feel about asking for a copy of their most recent W-2 form? According to recruiter Russ Riendeau, "You want to save money next year? From now on, demand a copy of the W-2 before you make an offer. You will save $20,000, $50,000 to $100,000 over a year’s period of time, because you're already overpaying." You can read more or Riendeau's interesting suggestions in a talk reviewed here in Plastics News.

If your company is looking to hire within the fluid power industry, or perhaps you looking for a new position for yourself, try www.fluidpowerjobs.com. According to the About Us page, "FluidPowerJobs.com was created by fluid power people, for fluid power people ... With a combined total of more than 40 years of experience in the industry, our management and consulting team put together their best ideas to provide a one-stop career website for professionals in the fluid power industry."

Eaton's Power 101: The Importance of Power Backup

The number of freak storms around the US in the past year has emphasized the need for a backup power system to protect your high tech equipment and be able to do business in the event of a power outage.

Downtime is costly. Some industry estimates believe the U.S. economy loses between $200 billion and $570 billion a year as a result of outages and other disturbances.

Eaton Corporation, industry experts in reliable and efficient backup power, airflow management and power distribution, provides a great site called Power 101 that covers the basics of power protection:

• Why the need for power protection?
• What does a UPS do?
• How do I choose the right UPS?
• What is the difference between a decentralized configuration and a centralized configuration?

The site has a Blackout Tracker where you can explore the causes of power outage and impacts for your state or region. You may be surprised at how vulnerable the U.S. power grid is to power outages!

Eaton also has a mobile app, UPS Tool, that helps you find the best UPS solution for your application and power needs - without being tied to your desk.

Have a question about power backup, distribution or management? You can ask their team of experts or read through questions other IT pros have asked.

Tribute partners with Eaton to streamline their distributor's business processes. Click here to see what benefits Tribute offers distributors of Eaton products.

Step Up Your Email Marketing

It's likely that your business already does some sort or email marketing. But maybe you are just sending emails through your in-house email system, and you'd like to send more attention-getting messages with better formatting and graphics. Or perhaps you use an online email service, but you'd like to make your mailings more regular or take them to the next level.

Here are the basic steps to take when getting started with email marketing, courtesy of this article from the U.S. Small Business Association:

• Start with a Plan - Start with a basic outline of your goals and objectives for email marketing, along with your budget. Assess what it is you want to communicate and how frequently.
• Research Email Marketing Software - There are many Web-based email marketing software tools. Most structure their fees based on the amount of subscribers you have and the number of emails you plan on sending each month. Some even offer free services for lists under a certain size limit, but cap the amount of emails you can send in a given month. The Email Marketing Options Web site offers a quick comparison of the top providers.
• Build your Email Marketing List - You may create your list by adding a 'sign up for updates' button on your website, adding a subscription link to your email signatures, capturing email addresses at the counter in your store, and so on. Try the 60-Second Guide to Developing a Permission Marketing Strategy from SCORE for steps to leverage email marketing as the basis of a sound permission-based relationship with your prospects and customers.
• Understand Online Marketing Laws -Several laws apply to email marketing. Email marketing software can help you comply, but if you are new to email marketing, take the time to familiarize yourself with these laws. More information from the SBA is available here and here.
• Write your Content - Try to write your content in small, easy-to-read chunks - such as tips, special offers, company or industry news, links to your Website and blog, and so on.
• Track and Monitor - Email marketing software can provide invaluable data about open rates, unsubscribes, bounces, and other activity. The trick is to use this data to your advantage by tweaking your message or mailing schedule to see what types of content, subject lines, or times of day generate the best response rates. You may also add a quick survey or poll to your messages, again something that most email marketing software can help you with.

The major email marketing software companies also have useful articles, tutorials, and videos on their websites, including:

Getting Started (Constant Contact)

How To Do Everything (Vertical Response)

Email Marketing Guide (iContact)

MailChimp Guides (MailChimp)

Learning Center (GetResponse)