"One of the biggest lessons we learned is the importance of being able to pivot quickly and make changes to our business model when necessary."
Lorraine Spektor is the CEO and founding partner of Elevate Customs, a luxury gaming table company that she co-founded in 2016.
Lorraine’s passion for design, gaming, and architecture inspired her to create a company that would combine her love for these fields and provide high-end gaming tables that were both functional and aesthetically stunning.
Her creativity and attention to detail have helped Elevate Customs become a leading provider of custom gaming tables.
Lorraine’s interest in design and craftsmanship began at a young age, watching her grandfather carve sculptures out of tree trunks. This early exposure to artistry and attention to detail served as inspiration for her work at Elevate Customs.
Beyond her role at Elevate Customs, Lorraine is also a dedicated mother to three children. Her commitment to family and community is reflected in the company’s values, which prioritize quality, creativity, and customer service.
With Lorraine’s leadership and vision, Elevate Customs has become a prominent player in the luxury gaming table industry, offering exquisite products that cater to the needs of avid gamers and enthusiasts.
The company’s commitment to quality and craftsmanship has earned it a loyal following, making it a top choice for those seeking high-end gaming tables.
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Table of Contents
In the past year, what is the greatest business achievement you’d like to celebrate with your team? Please share the details of that success.
Lorraine Spektor: Over the past year, the biggest achievement that I am proud to celebrate with my team is our growth since the challenges posed by the COVID-19 pandemic.
As a luxury gaming table company, our products are not considered a necessity for clients’ homes, which made it particularly difficult to maintain sales and revenue during the pandemic.
We have shifted our marketing and sales strategies to focus on virtual consultations and presentations to showcase our products to potential clients. By leveraging technology, we have been able to continue growing our client base and expanding our business more than ever before.
During the pandemic, we were able to adapt and find innovative ways to continue providing our clients with the best possible service while also keeping our team employed.
Being able to allow all of our team to continue to support their families took a lot of creativity during the pandemic, but will always be our first priority and a huge achievement for me.
Quiet quitting, The Great Resignation, are an ongoing trend causing many businesses to struggle keeping talent engaged and motivated. Most are leaving because of their boss or their company culture. 82% of people feel unheard, undervalued and misunderstood in the workplace. In your experience, what keeps employees happy? And how are adapting to the current shift we see?
Lorraine Spektor: In my experience as a business owner, I believe that keeping employees engaged and motivated is key to retaining talent and avoiding the effects of the Great Resignation. I strive to create a workplace environment that fosters open communication, collaboration, and mutual respect.
One of the ways I do this is by encouraging my team to share their ideas and feedback, particularly when it comes to design. As a luxury gaming table company, we rely heavily on our team’s creativity and expertise to bring a client’s vision to life.
I always make it a point to involve my team in the design process, asking for their input and feedback on ideas. The team is the ones who take these designs from being an idea to reality, so when creating a new design with clients, we always want to get feedback from the team to make sure that the design is something that is possible and practical.
This helps them feel valued and invested in the work we do, which in turn leads to greater job satisfaction and motivation.
I am also always open to learning new techniques and ideas from my team. This helps to create a culture of continuous learning and growth, where everyone feels that they have something to contribute and can take ownership of their work.
Our goal at Elevate Customs is to create a supportive workplace environment, where everyone feels heard and valued. I will always encourage my team to give constructive criticism so that we as a team can always grow and make any changes.
Online business keeps on surging higher than ever, B2B, B2C, online shopping, virtual meetings, remote work, Zoom medical consultations, what are your expectations for the year to come and how are you capitalizing on the tidal wave?
Lorraine Spektor: As a luxury gaming table company, we have definitely noticed the surge in online business over the past few years. The pandemic has accelerated this trend, with many businesses and individuals turning to online shopping and virtual meetings.
At Elevate Customs, we have adapted to this shift by creating an online design portal on our website. This portal allows clients to create and design their own gaming tables on our website and play around with different designs.
We believe that having an online presence is crucial in today’s world, and we have made it a priority to capitalize on the tidal wave of online business. In addition to the online design portal, we have also implemented an in-house MRP program. This program allows us to systemize the business and keep track of progress digitally.
Each member of our team has their own tablet, which allows them to take photos and see progress updates in real time. This has allowed us to streamline our processes and improve communication within the team.
In terms of expectations for the year to come, we anticipate that online business will continue to surge, and we plan to capitalize on this trend by expanding our online presence and continuing to improve our digital processes.
At the same time, we remain committed to providing high-quality, personalized service to each of our clients, whether they come to us online or in person.
By combining the latest technology with our passion for design and craftsmanship, we are confident that we can continue to meet the needs of our clients and grow our business in the years ahead.
Business is all about overcoming obstacles and creating opportunities for growth. What do you see as THE real challenge right now?
Lorraine Spektor: As the CEO and founding partner of Elevate Customs, I believe that our biggest challenge right now is managing our rapid growth.
Our company has experienced significant growth in the past few years, which is a testament to the quality of our products and our commitment to exceptional customer service.
However, with that growth comes the challenge of scaling our business while maintaining the same level of attention to detail and quality that our clients expect.
To overcome this challenge, we are constantly evaluating and refining our processes to improve efficiency and productivity without sacrificing quality. We are also investing in our team by providing ongoing training and opportunities for growth and development.
As we continue to expand, we are committed to staying true to our values and ensuring that every client receives the same exceptional experience that has made us successful.
2020, 2021, 2022 threw a lot of curve balls into businesses on a global scale. Based on the experience gleaned in the past years, how can businesses thrive in 2023? What lessons have you learned and what advice would you share?
Lorraine Spektor: In the past couple of years, businesses have had to face unprecedented challenges due to the pandemic. At Elevate Customs, we have learned a great deal about resilience and adaptability during this time.
One of the biggest lessons we learned is the importance of being able to pivot quickly and make changes to our business model when necessary. We have had to adjust our production process, shift our marketing strategies, and find new ways to connect with our clients.
Looking ahead to 2023, we believe that businesses that are agile, adaptable, and prioritize innovation will thrive. We plan to continue to invest in technology and online tools to meet our clients’ evolving needs.
Additionally, we will be focused on expanding our team and maintaining a strong company culture that fosters creativity, innovation, and collaboration.
Our advice to other businesses is to be prepared to pivot quickly and be open to new ideas and ways of doing things. Additionally, invest in technology and online tools that can help you meet the changing demands of the marketplace.
On a lighter note, if you had the ability to pick any business superpower, what would it be and how would you put it into practice?
Lorraine Spektor: If I had the ability to pick any business superpower, it would be the power of instant communication and mind reading. In today’s fast-paced business world, being able to communicate effectively and efficiently is crucial.
With this power, I would be able to read the minds of my team members, clients, and business partners, instantly understanding their needs and concerns. This would help me to tailor my communication style and approach, ensuring that I am delivering exactly what is needed at the right time.
For example, if a client is struggling to articulate their needs, I would be able to read their thoughts and understand exactly what they are looking for. This would allow me to make suggestions and recommendations that are tailored to their specific needs, making the entire process more efficient and effective.
The power of instant communication and mind reading would also help me to anticipate problems before they arise. By understanding the thoughts and concerns of my team members, I would be able to address issues before they become major problems.
This would help to streamline operations and ensure that our business runs smoothly and efficiently.
Jed Morley, VIP Contributor to ValiantCEO and the host of this interview would like to thank Lorraine Spektor for taking the time to do this interview and share her knowledge and experience with our readers.
If you would like to get in touch with Lorraine Spektor or her company, you can do it through her – Instagram
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