Nolans Company Strategy

Nolans is certainly an up and coming company and is establishing itself in a very competitive market.   They focus on delivering quality products at a competitive price and ensuring their customers are 100% satisfied.   Their slogan “If we can’t get it, you don’t need it!” shows their commitment to total satisfaction of the customer.   But as you know, just saying that you will provide great service at competitive pricing is something pretty much every company says but not all follow through on their commitment.  You clearly call out the steps they are taking to give themselves a competitive advantage with was relationship selling.  Developing that one-on-one service which makes the customer see them as the go-to place to get everything they need becoming a one stop shop.  They also specifically notate their versatility and ability to adapt to each customer’s needs very quickly.   This is something that large companies cannot easily do and does give them a competitive advantage. 

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It certainly looks like the company is committed to the customer based on their statements and commitments to putting the customer first but how do we evaluate if they are truly successful and will be able to maintain the success long term?  They do not promote any awards, recognitions, BBB rating, or statistics on their website that shows that the company truly is delivering on what they promise.  Everything available on their website could have been completely made up by an advertising firm and may or may not be their true core company beliefs and values.  I was able to find some good avenues to do additional research on private companies from Duke Universities library in an article called Company and Industry Research: Private Companies.  The first thing I found was that they are very active with their postings and at first glance I was pretty impressed with what I was seeing.  But then I saw how many followers they have and it is only 15 and knowing this is a business in which many family members are involved, I am confident most of them are family.  They need to figure out a better way to connect with their customers if they are truly going to be successful long term.  There was another great article that I read from GEXP Collaborative called 7 Ways to Scale Your Private Company Like a Public One.  Nolans likes to promote their company as a “family business” focused on personal service but this article talks specifically about how they can focus on market expansion, formalize a true growth strategy, attract and retain quality people, and ensure financial security by focusing on cost efficiencies.   Let me know your thoughts.

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Paul

Reference:

Company and Industry Research: Private Companies. (n.d.). Retrieved from

https://guides.library.duke.edu/company/company_private

7 Ways to Scale Your Private Company Like a Public One. (2018, November 19). Retrieved from: https://guides.library.duke.edu/company/company_private

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Daniel Fortune

Daniel Fortune is a successful business professional, entrepreneur, father, and lover of travel.

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