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In June, our South East Territory Manager, Mitch Murphy, was a presenter at the Mississippi Ground Water Association Summer Convention 2023.

 

His presentation was aimed towards small business owners in the water well industry. The vast majority of which would rather be in the field pursuing their passion than in the office maintaining their books. However, watching and managing their margins is critical to their success.

 

In his presentation, Mitch stressed that these companies need to realize the value of their services and sell those services for what they are worth. In his presentation “My Race to the Bottom” he also discussed how “undercutting” pricing practices may win bids today, but can be bad for business in the long run.

 

“We want to partner with our customers and help them succeed. Not just sell them pumps. If we can provide them with additional tools to make their business grow, and be successful, everybody wins,” said Mitch.

 

“That’s why we created The Business Side. It’s an online resource that helps small businesses, specifically in the water well and groundwater industry, find valuable information on basic small business practices.”

 

A related article, “Protecting Margins and Generating Revenue”, appeared in the August issue of the Water Well Journal. It offered numerous suggestions and details on keeping small businesses healthy. Check it out.