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In 2008, in the depths of the financial crisis, Jim Henderson took a huge risk: He bought eight brand-new moving trucks that cost $88,000 each and refocused his moving company to target the wealthiest people in Naples.
Today, William C. Huff Cos. is the “go-to” mover for ultra-high-net-worth people. And don't call it a moving and storage company; William C. Huff is a boutique concierge logistics support provider for people whose disposable wealth exceeds $50 million, Henderson explains.
“Just last summer I started feeling like the vision was paying off,” says Henderson, whose crews sometimes spend as long as three weeks packing and unpacking a single home for as much as $80,000.
This is highly specialized work. Crews build wooden crates for precious artwork, and the same employees unpack the goods at their destination. “We ship stuff money can't replace,” Henderson says.
Henderson reasons that if he can reach the top 1% of the 10,000 baby boomers who retire every day, “that's 100 people who are looking for people like me.”
But reaching that 1% is pretty tough because they have an impenetrable wall of gatekeepers, Henderson says. What's more, they shy from publicity so you're not likely to find them at many Naples society events. “They're too insulated,” he says.
But Henderson is a master at networking and belongs to 22 organizations in Naples, from Realtors to chambers of commerce and building managers. It's through those groups that word spread about his deluxe moving services.
Henderson calls it “networking up.” His prospective customer may be two or three people removed from the person he's trying to reach, but relentless networking spreads the word from one person to the next by word-of-mouth.
Because very wealthy people have employees who manage their personal affairs, Henderson says it's essential to reach those influential people. To do that better, Henderson recently started a chapter of the Domestic Estates Managers Association in Naples. It's an invitation-only group that carefully vets its members to protect their privacy. “This is like the Dead Poet's Society,” Henderson chuckles.
An improving economy coupled with Henderson's relentless networking means William C. Huff is on track to exceed $2 million in revenues this year, more than 30% growth compared with 2011, says Henderson.
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