The word’s out on Jim Murphy’s new consulting business… Angling Trade asked a few questions from the industry veteran. Here are some of his responses:
AT: So the word is out that you are starting a consulting company?
JM: Yes, I started working the second week of August putting together contacts and proposals. The idea is to offer independent reviews and planning to clients in the fishing business.
AT: You have been working within companies angling companies for over 20 years. Is it uncomfortable being out there on your own?
JM: Yes, in the beginning, but after some business arrived I began to think this was the right thing to do. Not to say I am still not a bit nervous, but not near as stressful as my experience as President of various companies.
AT: What is a consultant and what do they do?
JM: You can be hired for specific short term projects. These can range from an independent analysis of the business or a more specific task like sourcing products and supply chain development. On the sales side, the projects can simply be an analysis of specific product potential via the various roots to market, or a more comprehensive review of sales strategies.
AT: You have said that there are big changes in the market?
JM: Seems as though there are always big changes in this market. The market is small and easily buffeted about by internal and external conditions. Ownership changes, channel changes, warranty issues are the internal sort and then the much larger macro external conditions like the economy, ecology and consumer issues.
AT: What kind of data helps keep track of some of the changes?
JM: A good example is the new ASA study of participation rates. The issue of a churning population of anglers that drops out and is replaced by new anglers, but the number stays remarkably steady. The detail in that study is filled with useful information.
AT: So you are moving home to Florida?
JM: Yes, it has really been my home base since 1992 when we started Redington. I am looking forward to working from there this winter.