On Successful LOTC Business Strategy

By Malcolm “Mudduckk” Campbell

Strategy follows mission. Mission follows the need you are filling in the marketplace. The need for a LOTC is long standing. Trading time and one’s skill for fair compensation is nearly as old as the oldest trade in the book. When it comes to tiling and masonry, we can look back to the time when Pharoes were building pyrimids and other monumnets in the sands upon the Giza Plateau. Its too bad though that fair compensation in those times was something akin to slavery, and that if you survived the perils of the work to the time of the King’s demise, you were placed live in the tomb with him to suffocate and meet your maker. So, I guess you could say that times are better now than then.

OK, so since we understand that the LOTC’s business environment is perfectly competitive.  That is we are price takers and not price makers, and prices paid on the whole equal marginal costs.  So on the average, profit is a luxury we LOTC’s cannot afford. So how then, is one to survive and prosper in such an environment?  The answer lies in developing and executing a strategy which strictly satisfies the mission and need in the marketplace.

By definition, LOTC’s trade time for money. They take a product, like tile, and convert it into a service, tiling, for the benefit, lovely long lasting easy to care for surfaces, of the client.  LOTC’s have no competitive advantage on costs of tools or materials, oftentimes customers furnish the materials, so LOTC’s principal risk is time value of their labor pitted against a defined goal with a defined payout.  The faster the goal accomplishment the better the payout.  Simple enough, yet their are tangible limits on speed to goal accomplishment.  Though the span of time, there are no great technological breakthroughs in laying tile and stone.  They are still laid by hand one at a time just as they were in the time of the pharoes.  There are no great break though

the business of being a LOTC is . . .

 

Malcolm “Mudduckk” Campbell is a tile installer in Toledo, Ohio. Tilers play in the mud! Toledo is home of the Mud Hens minor league baseball, sometimes call the Mud Ducks. So you know a tile setter from Toledo would have to go by the nickname “Mudduckk.”  In fact, there could be many Mudduckks in Toledo, but only one of them is tops in Google Search. That one is Malcolm. Got Tile? Google: Mudduckk!

 

Leave a Comment

Your email address will not be published. Required fields are marked *