Is The Funeral Industry Ready to Boom? (Part 2)

June 10, 2010
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imageTiffany Stewart is currently a graduate student at Midwestern State University in Wichita Falls, Texas and expects to complete a Masters in Counseling in 2011. Her areas of interest include geriatrics, caring for families affected by Alzheimer?s and the death-care industry. ?I decided to intern with ConnectingDirectors.com because they are at the forefront of news, trends and transitions within the death-care industry and that is exactly where I want to be.? Tiffany is also a competitive cyclist and enjoys outdoor activities. Connect with Tiffany on Facebook.

Is The Funeral Industry Ready to Boom? (Part 2)

Read Part 1 Here

Since the funeral industry is in a slump, many funeral homes are forced to focus on sales, heavy overhead and debt. This leaves little time, energy or resources to focus on the dramatic shifts that will be required to accommodate the demands of Boomers. Here are a few principles from Spencer Johnson?s great little book, ?Who Moved My Cheese:?

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?If You Do Not Change, You Can Become Extinct?

For example, to meet the changing needs of their clients, banks have made their services more accessible by moving away from one large downtown institution to smaller, more convenient offices. ?Bankers? hours have now become 24/7 through extended banking hours and ATM services. Who needs a loan officer when credit applications can be processed through an automated system? Travel agencies are also a ?victim? of the ?do it myself? Boomer mentality. One common denominator among the institutions that have survived and thrived is the ability to be flexible and fast in meeting many different needs.

?Movement In A New Direction Helps You Find New Cheese?

The previous generations of funeral homes were successful by maintaining a good name and being a solid member of the community. Since Boomers are far less traditional and less religious than previous generations, the long-held values of many funeral homes are not in step with many Boomers.

?Noticing Small Changes Early Helps You Adapt To The Bigger Changes That Are To Come.?

What?s happening in your town as Red Box crops up on every corner? I have seen three brick & mortar video stores close in recent months since Red Box came to town. I was told that initially Red Box tried to partner with Blockbuster, but Blockbuster?s management saw no need. They are paying a big price for failing to notice a small change coming. What can we learn by watching Blockbuster and Hollywood Video battle to regain market share? I believe we can learn a lot!

Who Moved My Cheese, by Spencer Johnson is a great easy read about dealing with and preparing for change.

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