The year has come to an end! We wish all our loyal readers a very happy new year. 2024 was a great year and we look forward to an exciting 2025! We at Amar started this blog in the middle of 2023 as a way to enter into a dialogue with our customers. We have had more than 50 blog posts so far. To make it easy for our readers to refer to specific topics we present a blog index.
Hope that you readers will find it useful! We thought we would summarize a few thoughts that we should share with you as our summary and suggestions for the year gone by and resolutions for the upcoming 2025!
- Be open to trying new technology and vendors. If we don’t try new ideas, we will stagnate. The world is flat now. Expand horizons to vendors in different geographies. Give them a chance so long as they are good. Transaction costs and logistics overhead is very low now.
- Think outside the box. That’s the only way to achieve a significant competitive advantage.
- Attend trade shows and conferences. Engaging with the external world is the only way to grow.
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- Customers value reliability and responsiveness over most other things. Grow and innovate but don’t forget the basics.
- We in the chemical industry are in a mission critical business especially in high pressure equipment. Mistakes can cost lives. Customer trust is the biggest asset and do everything to justify customer trust.
- Do not underestimate the barriers to entry based on unique customs based on language and culture. Understand and adapt rather than be deterred by it. Some nations or sectors demand perfectionism. Others are price sensitive and do not need a “gold plated” solution with all the bells and whistles.
- Think beyond your company's business interests. Sometimes one must invest in educating customers and upgrading a domain. Don’t worry about some customers going to competition. In the long run we all benefit.
- Process equipment is a slow changing business. Businesses may come and go but the truly trusted brand-names have been along for decades. Most have 2nd or 3rd generation family owners now heading the business. Think long horizon.
With this we again wish all our readers a happy 2025 and look forward to working with you in this year! Do reach out to us with your thoughts and comments.
