One of the toughest decisions you can make in business is to accept that you cannot be everything to everyone – that in order to provide the kind of service you want to give your customers you need to narrow your focus. That’s the decision we made a year ago when we ceased selling general merchandise and real estate and focused Purple Wave on construction and ag equipment and fleet vehicles. It wasn’t a decision we made easily and it definitely came with some risks. Would we inadvertently be stifling our business growth? Would we be walking away from the wrong customer base?
A year later I’m pleased to report our current business shows it was definitely the right decision for Purple Wave and, just as importantly, our customers. We already had a pretty good idea we were on track, but we recently received recognition from Inc. magazine that validated that decision even more. Purple Wave was ranked on the magazine’s fourth annual Inc. 5000 list, an “exclusive ranking of the nation’s fastest-growing private companies.”
Sometimes you can gauge how you are doing by the company you keep. We join the likes of 7-Eleven, Toys R Us and AMC Entertainment, not to mention a lot of entrepreneurial-focused companies like ours-a small group of dedicated people with a vision for providing a unique service.
When push comes to shove it’s obviously not about the recognitions we receive, but every now and again it’s nice to get that little nod that says you’re on the right track. But enough of that -let’s focus on what’s next. Count on us to keep working to bring new services to improve the auction experience for both buyers and sellers.