How to Run a Successful Business in the knife industry?

Well, this is a very good question but difficult to answer because of a lot of variables. Like “What kind of business?”. Running a knifemaking one-man-operated company is entirely different then a 20 men manufacturer or a 5 men operated retailcompany to name a few.

So it depends what kind of business you own or manage. But there are some common characteristics as well. We want to highlight a few in this article. But first we want to emphasize the difficult circumstances within the knife industry.

Newcomers

One of the main difficulties are the huge influx of newcomers in the industry. Manufacturers, retailers, knifemakers, suppliers. Every year many newcomers/startups are added to all areas of the knife sector. And all want a slice of the cake. So the cake has to be divided between more and more companies. So if you are not aware of this and you don’t adjust your strategy, your slice of the cake will be smaller and smaller. Your revenue will decrease, your profit will decrease. Maybe you even have to fire employees!

The law of inhibiting lead

Newcomers can start with the newest machinery & tools and are often innovative with technique, materials and marketing. Because of this, they generate a lot of attention among their audience/customers/prospects. Existing companies with an history often continue to do the same things as they always have done. They are only slowly getting aware they have lost or are loosing a significant market share.

Also newcomers are often young people, familiar with new internet, social media marketing techniques. They grew up with it. So they have no problem adapting those new techniques. Where the older, existing companies have to make a transition to reach this level.

So just to name a few difficulties. But back to the question and common charateristics of a succesful knife business.

Determine the purpose of your business

This has to be the number one. This will be the common thread in all your expressions to your audience/customers & prospects.

What is the purpose of your business? Is it only to make money? Or do you want to add value to your product, service or brand? What do you think will be the most sustainable in the long term?

Write your Story

The story has to be authentic, genuine and your story! The story is the basic foundation for telling the purpose of your business. Every chapther (wether an advertisement, press release, interview or ..) will contain a consistent message your audience/customers are able to understand. In fact this is the confirmation for their choice to do business with you!

Building your brand

With a good story you can position, build and develop your brand. And highlight the purpose of your company. Based on this foundation you have to develop a content-idea with the right formats for each of the chapters of the story. Combined with advertising for boosting your brand, purpose and offerings, this will lead to a high conversion rate & growth in a sustainable way.

Of course there is much more involved, but with previous mentioned method, you will create a sturdy foundation and starting point for your marketing. It is not easy. But we can help you getting this done! Interested? Just contact us for an appointment.

Author: henkh

Active in the knife industry as marketing consultant. Active community member and collector of all kinds of knives. Like to share my knowledge. Co-founder of Bladestock, Bladestock Brothers. Founder of ED-Media, Knives from Europe, EDC praat, Knives Heaven, European Knife Association, EDC Heaven.

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