Growth is on the mind of every security guard company owner — but a being bigger company isn’t always being a better company. Smaller companies enjoy several advantages in the security guard industry, but they have to know how to leverage them. And when you do grow, you have to do it in a way that you don’t overextend your resources. “Everyone wants growth, but revenue growth for the sake of revenue growth is Continue reading
I remember very clearly the first time that I saw the results of a bid where every bidder was required to submit their company cost (i.e. Unemployment rate, uniform cost, workers comp, etc.) to show how their billing rate was calculated. I also remember the shock of comparing my company’s State Unemployment Tax Act (SUTA) rate against some of the other bidders. I thought that something had to be wrong with our rate because it was noticeably higher than Continue reading
As you already probably know, it can be extremely difficult to stand out as a security guard company in the security industry. It is a fairly straightforward business, and many people still mistakenly believe that simply “providing good service” is enough to win new clients.
If you truly want to be successful, you will have to identify and develop your company’s USP (Unique Selling Proposition). Developing your unique selling proposition is a two-step process: 1) Identify your Continue reading
Managing a security guard company isn’t easy: High-stakes situations can go bad quickly, and after an incident occurs, both you and your client will be looking for answers. As a result, understanding the liabilities associated with having an incident at your clients’ sites are a key part of protecting your business.
“Just because you’re a former cop doesn’t mean you understand liability,” and that lack of understanding can put you at risk of losing your clients, your reputation, and your business says John Roberts of J.R. Roberts Security Strategies.
Jay Abiona started as a security officer in 1990, and he moved up through the ranks until he was a regional loss-prevention director for a Fortune 100 company. After tiring of the corporate world, he started his own security company that focuses on a better experience, both for its employees and its clients. That approach has won Credible Security Solutions some plum assignments, such as providing security for major events such as New Year’s Eve in Times Square. Continue reading
Owning a security guard business means putting out a lot of fires — an unhappy customer who is missing an incident report, an invoice that is 90 days past due, and a field supervisor position you need to fill hanging over it all. It is easy to get stuck in a cycle of putting out fires, but that makes it hard to actually move your business forward and grow.
I was recently introduced to W. Edwards Deming’s 14 Points of Management and have become a huge fan of those principles, especially No. 5. Principle No. 5 states “Improve constantly and forever the system of production and service, to improve quality and productivity, and thus Continue reading
People do not become entrepreneurs to live stress-free. Being the owner of a security guard company means that you are in charge 24/7, but the long days and weeks can eventually take a toll on your business, your relationships, and your health. Finding ways to manage that stress means the difference between success and failure.
“It’s not about de-stressing; it’s more about how fit you are to manage stress,” says Dr. Cynthia Ackrill, chairwoman of the Workplace Stress Board of The American Institute of Stress. “There’s a false assumption that we’ll finish our to-do list, everyone will like us, we’ll be enormously Continue reading
Over the last several years there has been an extremely high volume of consolidation with security guard companies primarily by several national companies. As a result, I continue to see opportunities for small and mid-size security guard companies. Set forth below is a discussion about the merger and acquisition integration issues that these national companies are experiencing and how to position your company to capitalize on these opportunities. Continue reading
When you’re hungry for business, it can be tempting to focus on just coming in with the lowest bid. But this kind of pricing strategy isn’t sustainable and can actually keep your security firm from growing. In addition, underbidding creates an atmosphere of firms racing to the bottom, which hurts the security guard service industry as a whole.
Competitive advantage is a business concept that many people misunderstand — and as a result they are not able to harness it. The owners of many security firms would probably say “our officers” or “our training” make up their competitive advantage. But if you look around, you find that most security firms will say the EXACT same thing — which makes it neither competitive nor an advantage.
Developing a competitive advantage takes some introspection. Here’s how to find yours. Continue reading