Eleven years ago, I ran a mid-level audio-visual company that relied on builders, architects and project managers to bring us business. We did amazing work, had a group of dedicated people, excellent technology and were profitable. We were following the rules. We were doing okay.
As CEO and founder, I realized “okay” was not good enough for me or my company, Immedia. I also realized that if we were going to grow, it would require breaking some rules. So, we set out on an unmarked trail. In our efforts to differentiate, we pushed the commercial real estate industry to think differently about what we did.
With three decades of business under my belt, I understand the fear that comes with taking big swings. But I also believe that taking risks — especially those that challenge “how things have always been done” — is the best way to uplevel one’s business, oneself and one’s market position.
Here are a few ways we took risks that have really paid off:
Creating something entirely new: The NextSpace gallery showroom we built in 2023 was a huge investment, and a departure from our core AV business. It was also a giant swing because nothing like it existed (and ours remains the only one of its kind). But we knew we had to give the market a way to interact with our AV services and see what an immersive workspace looked, sounded and felt like — before they bought — to illustrate what was possible in a workspace, better than a description or rendering ever could.
Taking a partnership approach instead of going solo: Our industry often rewards “going it alone,” but we decided the stronger position was to extend a hand, share our vision and develop true partnerships. While building NextSpace, we invited multiple partners to share a common showroom — an uncommon practice, but we committed and it works!
Shifting to a direct client-relationship focus: NextSpace was the cherry on top of a longer-term strategic pivot from a dependency on referrals to building our own direct client relationships. We began this with Immedia, by engaging clients without waiting for projects. This has fostered long-term relationships and loyalty, and allowed us to organically connect in the weeks, months and years before an actual project comes about. While a risk that could have alienated our industry partners, it has become a differentiator for us, giving us a chance to do what we do best — be there to support, serve, solve, guide and offer our best to each client.
As an industry, we shouldn’t continue to rely on outdated rules that dictate how we interact with one another, serve our clients or uplevel. As leaders, we can make bold moves that disrupt traditional industry practices and reshape how we engage with clients. Growth requires reaching, risking and, it’s to be hoped, reward. I hope everything we’ve built with NextSpace continues to encourage innovation within the industry.
Photos courtesy of NextSpace
Jeff Emmons is CEO of Immedia and founder and chief visionary of NextSpace.
