Dealerscope (dealerscope.com) (1/8/04): Dealerscope... -
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Published on: 1/8/2004
Last Visited: 1/11/2004
Howard HeiberPresident, Audio Products InternationalIf it were not for a little serendipity and a gut feeling, Howard Heiber, president of Audio Products International of Canada, might not be the giant of the audio business that he is today.His career actually started when he was 13 years old, doing odd jobs for his father at Atlas Electronics, a small rep company.After college, he joined Atlas in the accounting department, and five years later went on the road selling.
After a stint away from the audio business, Heiber asked his accountant to let him know of any electronics businesses for sale.It was 1972.Six months later the accountant called him with a tip on Global Sound Systems.Global, (previously known as Double Diamond Bowling, because the company also produced bowling alleys), was an OEM speaker manufacturer owned by Philips Electronics.Heiber made an appointment to meet the general manager and take a tour.
After waiting an hour and half for the manager, who never showed, an annoyed Heiber marched straigh into the Global accountant's office.That's then the accountant laid it out for him.If Philips didn't find a buyer by 2:00 p.m. that very day, the company was shutting down.So Heiber got on the phone with his banker and gave him the story."I hadn't seen the numbers.I hadn't seen the facility.I hadn't seen anything," explains Heiber.The bank called back at 1:45 p.m. to tell Heiber he would have the money to buy it."So I phoned the accountant and said I was in." About two weeks later they closed the deal.And that's how Howard Heiber became the owner of a speaker company.
Selling Athena Technologies, Energy and Mirage brand speakers, Heiber's company, renamed API in 1984, is known as a premier manufacturer worldwide.
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Heiber said he's learned a lot of important things along the way, but some of the best learning experiences came when he spent two years on the road working for Atlas Electronics."I learned more in the two years I was on the road selling then I did in the five years in the office," he says.Out in the field "You see all aspects of the business: the credit side; the sales side; the administrative side...the key for anybody who's in sales is to know how their customers are doing and how they do it, because you might be able to help then with it," he explains.The other key thing he learned out in the field is that when you promise to do something for someone, you do it right away.That's just good business.