One 'newcomer' who really gets us
Ray Allegrezza, Editor in Chief -- Furniture Today, February 18, 2008
Up until this guy came along, it was generally accepted that newcomers to the furniture business, especially those from the financial community, never really "got us," much less made a difference.
But that was before Bill Colgrove, the general manager of Furniture Values International, the distributor for Aspenhome, arrived on the scene in 2001.
At that time, Bill saw what he called the raw ingredients for growth. In a very short time, especially for our often sedentary industry, Colgrove and his team transformed the company from what had been a home office specialist into a full-line manufacturer and importer active in entertainment furniture, occasional furniture, case goods, leather and more.
Today, while scores of home furnishings executives are wearing ashes and sackcloth, Colgrove optimistically sees our market as a pie that is showing measured, but steady, growth.
"A few years ago, the industry did $81 billion. Last year, we did some $84 billion and this year, we are on tap to do in excess of $87 billion," he says. "The pie, in my mind, is getting larger each year, and it is there for anybody with an appetite to earn a slice."
While the growth may be limited but constant, Colgrove admits that when targeting consumers, there has been a big change, primarily in where they are buying furniture.
His job as the head of the hunting team is to find the new watering holes where the customers are gathering. And to do that, Colgrove said, you have to focus on who is on your team.
"With the right people, you can do anything. But you can't get the right people without a vision and you can't have a vision without opportunity," he told me.
Even so, good product alone won't make you successful, he believes. "If product is king, then process has to be queen," Colgrove said.
Oh, and just so you don't think this is all blue-sky babble, under Colgrove's watchful eye, the company has enjoyed compound annual growth of 30% for the past five years.
Now that's what I call putting your money where your mouth is.
