Perseverance has paid off
Nearly the same theme crops up everywhere I look in this monthÃ¢â‚¬â„¢s issue of Security Systems News and itÃ¢â‚¬â„¢s one that I believe we can all learn from.
Ã¢â‚¬Å“Protection One pushing forward,Ã¢â‚¬Â Ã¢â‚¬Å“ADT Dealer program returnsÃ¢â‚¬Â Ã¢â‚¬Å“Lifestyle takes alternative approachÃ¢â‚¬Â and Ã¢â‚¬Å“New Jersey licensing law well worth the waitÃ¢â‚¬Â read the headlines from the May issue. And so the headlines go, many of them carry a similar theme of resilience, perseverance and simply just hanging in there.
One thing that IÃ¢â‚¬â„¢ve learned since entering this market six years ago is that a tough group of folks work in the security industry. Companies may waiver, people might come and go, but despite all the ups and downs a company or person go through over the years, each one manages to hang in there.
There are a number of companies that weÃ¢â‚¬â„¢ve been covering for years that have experienced those very ups and downs - Tyco and ADT, Protection One and American Building Controls, formerly known as Ultrak, could all be included in that roster. But despite the challenges of high attrition rates, diminishing funding, or simply being spread too thin, each business has moved on, and for the better.
Tyco is tightening up operations, selling non-core companies in the fire and security market, one of which included the Sonitrol Corp.
ABC is doing the same, with plans to exit its Securityandmore consumer products company and industrial distribution business IVS, but focus on its access control and monitoring software business instead.
The result is going to be a stronger, healthier business for each company.
But why should you care about what your neighbor is doing to get his company into ship shape, or what a manufacturer is doing to streamline operations? In the end, it impacts us all.
A leaner, meaner and more financially healthy security industry is only going to be good news for everyone, including the end-user and consumer. We want companies thrive in the security industry, not fizzle out.
Financers look at the overall health of an industry when considering whether to invest in a particular company and make no doubt about it, they look at comparable businesses when deciding if this is the market for them.
The security industry is a lot stronger today than it was five years ago and weÃ¢â‚¬â„¢re experiencing the benefits of this with new capital providers coming into the market everyday and more start-up firms appearing than ever before.
Your perseverance has paid off.