How do you evaluate growth opportunities?
We look to see if there is a market leader that sells that product. A lot of times, they may not sell that product, even through they’re in that area.
We’re at a point now where we think we can hit the doubles and triples … with that unique item. One of the electronics giants will bring out a product — and we’re really in the accessory market — and there’s not an accessory that’s hit the market to go with that product. So we say, ‘Can we get that accessory or that piece out before anyone else?’
We have kind of switched our focus to say, ‘Let’s not try to compete with the guys that are well-entrenched with products that have been on the market for years. We are now saying, ‘Let’s look at products that are not on the market that we think are going to be hot in the next 12 months and see if we can beat our competitors to the market.’
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