Specific skills and savvy are needed to succeed in the manufacturing world, making a manufacturing startup difficult to achieve. Brandon Kane, however, knew he wanted hands-on work that made a difference in the world and began his own shop in the garage with his dad, Mike. Together, they have transformed a dream into reality through hard work, determination, and a willingness to learn. In this episode of the MakingChips podcast, Jim Carr and Nick Goellner explore what makes or breaks startup business endeavors and what we can learn from Brandon’s entrepreneurial spirit.
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Entrepreneurship has many benefits. Most small business owners were inspired to create their own startup from a desire to work for themselves and be their own boss. Others had a passion they wanted to share with the world. The unfortunate reality, however, is that most startups don’t make it past their first couple of years. Jim and Nick share some surprising startup trends from the past few years. Most small business owners, for instance, are 50-59 years old - not young college graduates. The funding to start a business is often taken from the founder’s personal savings account, and family is usually a strong source of continued funding for the initial months of a small business. Learn more about the interesting statistics of startup businesses by listening to the entire episode!
Manufacturing is often seen as an industry that has a hard time inspiring the younger generation to follow in its footsteps and pave the way for the future. Brandon Kane, however, grew up watching his dad work in the manufacturing industry and fell in love with “hands-on” work. He attended a technical high school, learning skills that would help him late on when he decided to begin a manufacturing startup with his dad in their garage.
Brandon’s dad, Mike, settled into his role as the visionary of the business - having seen needs in the industry that weren’t being met by the larger corporations and companies. While time is money, there should always be excellence in production, and Mike felt that smaller orders weren’t being met properly by the larger businesses. Mike helped Brandon begin a small business - Manufacturing Solutions - that saw a need and began filling it.
Brandon’s love of design led him to experiment with CAM software on their first machines, creating a trigger for a firearm they use for hobby target practice. From there, the designs became more complex, and Brandon’s knowledge of software grew to produce prototypes, and he became more comfortable with different tool paths and CNC machines.
Jim and Mike talk about the differences in the ways that they learned manufacturing skills as opposed to how the younger generation - such as Brandon - have picked up the skills needed to succeed. While it used to be popular to learn through hands-on experience with the machines themselves - learning to feel and listen to the tone of a machine and metal to determine whether or not the design would come out - Brandon learned through CAD-CAM software first. He and Mike purchased a video series on how to work the tools with the software, but much of the learning was done through experimentation and from mistakes made along the way.
Mike explains that in a startup, you learn a lot through failure. He talks about the edge that modern technology can give a manufacturing startup by providing new software that can optimize a CNC machine to produce quality parts every time with a well-built design. Probing systems have also taken much of the guesswork out of machining, allowing for a more consistent product.
While there are many differences in the ways Mike and Brandon have learned the industry, they are united through the passion to produce quality products to fulfill a need and to inspire a positive atmosphere among manufacturing leaders. Much of their business's marketing has been done through word-of-mouth and through maintaining a strong social media presence on Instagram. Brandon loves sharing his day-to-day life with others, hoping that his business will inspire others to launch into their dreams with determination and hard work.
Realistic benchmarks are important to any business, and Mike and Brandon have built theirs around practical goals. They both know that they would prefer not to compete with large, corporate companies and have tried to maintain steady growth without growing too big too fast. Mike wants to hire another employee with the same passion for learning and sharing the manufacturing industry. Brandon wants to become a bigger influence on social media and hopefully begin coaching others while also building the business he and his father have built. Be sure to listen to the entire episode for the rest of the inspiring story of a manufacturing startup done right.
Life often gets crazy busy, and it can be hard to fight the stress that easily sneaks in and overwhelms the everyday. Jason and Jim unpack the causes of major stress and give practical insight and tactics for overcoming the stresses that keep leaders from performing at their very best. Speaking from personal experience, these two manufacturing leaders share their personal tools and explore the need to prioritize your priorities.
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Stress can come in quietly and pile up quickly. Life changes, bad news, distractions, and inefficient processes are only a few ways stress can overtake your work, family, and life. Businesses grow, teams expand, and life gets busy! Jason talks about a time when stressful business news impacted his health. Stress not only affects how you view and approach work, but it also affects your health, relationships, and effectiveness as a leader.
Understanding why you are stressed is the first step. The connectedness of the modern business world is one major cause of stress for many industry leaders. Technology has created the opportunity to be connected to everything and everyone at all times. Overstimulation can lead to incredible amounts of stress because there is never time to simply turn off and relax. How do you overcome the limitations of stress-induced scars and build a life of minimal distraction? Be sure to listen to the entire episode!
Jason and Jim share some of their personal tools for combating the stresses that permeate all of life - from work to family. Exercise, essential oils, writing out thoughts in short notes or lists, spending time with loved ones and friends, and taking the time to relax and laugh can all help reduce stress. Even spending time with a pet or taking the time to relax and drink a glass of wine at night can help mitigate the constant stimulation that your mind lives in throughout the workday. But what steps can you take to cut stress in the bud and mitigate its presence at work and as a leader? Jason shares seven tools for doing just that.
(7) Turn off notifications on your phone! It is easy to get caught up in group chats or conversations that could be had later or under better circumstances. Jason shares that he only leaves notifications on for family and team members vital to his current work. Otherwise, the conversation can wait.
(6) Use your calendar to plan ahead. Book out the next couple weeks so that you know what to expect and where you need to be and what you need to get accomplished. Knowing your calendar can also keep you from overbooking yourself. Have a plan and write it out ahead of time. Jim and Jason have also learned to be careful with which calendar invites to accept.
(5) Say “No” often. As a leader, you have a choice as to what processes, meetings, and jobs you need to be a part of. Know where to delegate and where to partake and be honest about how much time you have available for jobs and meetings that could be run and accomplished by someone else. Take responsibility where needed, but don’t overextend.
Jason and Jim explore tactics for fighting stress that require you, as the leader, to take a step back and take the time to dwell in objective observation. It is easy to become comfortable in the status-quo and not realize that things need to be changed. Jason and Jim share the following tools for creating that efficient and life-giving environment.
(4) Align yourself with great partners. Being willing to delegate the jobs that someone else can accomplish better than yourself is vital. Who on your team knows more than you about a specific job, or who do you know that has expertise where you don’t? Who has more time to give to a project? By delegating to the right people, you can grow your business by ensuring that everyone is giving their best work in their best arenas.
(3) Create a routine for yourself. Habits and a normalized routine can help keep the guesswork out of the workplace. Setting aside the time to accomplish what needs to be done while also creating space for creative work can help keep your day moving steadily forward.
(2) Take time to reflect on whether or not you have the right people in the right seats. Are your team members able to give their best in their current positions? Being willing to take a step back and observe whether or not a person, project, or conversation need to move forward as they are can be helpful. By simply moving a team member to a different position or by eliminating a project, you can create a more efficient path ahead for your business.
(1) Focus on the “ultra” important. Distractions can take away the energy and time you need to be channeling into what is truly important to you, the team, and your business. Being willing to utilize the tools above can help keep you from giving in to the distractions that riddle everyday life.
Prioritizing can be difficult - especially when you have so many vital priorities as a leader. The last tool Jason and Jim discuss is the need to focus. Jim explains the need for a leader to be flexible in his priorities for the day while not losing sight of the ultimate goal. Your checklist of to-dos will change throughout the day, and that is okay. What really matters is whether or not you are accomplishing the ultra important and moving steadily along the path to your personal and business goals. Be sure to listen to the entire episode for a more in-depth look at the tools and tactics listed above.
Everyone is different and will utilize unique stress-fighting tactics to overcome obstacles and distractions and create a healthy lifestyle. Taking the time to create in yourself the focus and endurance to combat stress will enable you to be a better leader. The important thing to remember is that, “If you're not making chips, you're not making money. And if you're too stressed, you're not making chips.”
LinkedIn expert, Wayne Breitbarth, is back with more excellent insight into LinkedIn strategies to promote and grow your manufacturing business! Jim and Jason ask the hard questions about the worth of a premium account, when and how to say no to offending taggers and salesmen, and when, where, and how to post the good stuff. Be sure to listen the whole way through for all the tips and tricks to boost your business and put you on the leading edge of the manufacturing industry!
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Is a premium account worth the cash? Wayne shares a helpful gauge to determine if it’s time for you or your business to bite the bullet for premium benefits. If you are running into what Wayne calls the “free wall,” then it’s time to pay. If trying to keep up with who has been viewing your profile is taking up all your spare time, then you may want to consider going premium. With the upgraded account, you can see the past 90 days of profile “stalkers.” Being able to go back and see who has been visiting your profile will help you determine who to reach out to and build relationship with.
Another way to tell if it’s time for that premium account is if you are maxing out your search allowance for the month. A premium account will give you a wider berth for searching out the perfect people to build your business and professional alliances. Wayne suggests the “Sales Navigator/Professional” premium setting as the perfect “rocket-ship” to carry your profile to the next level.
Jim and Wayne both get frustrated and feel offended when someone tags them in posts that have nothing to do with them. Some people use tagging as a sales tactic to take advantage of others’ many followers. Wayne suggests that if this happens to you, untag yourself from the post. If it happens again with the same instigator, direct message that person, and politely - but firmly - ask them to stop. If it still continues, disconnect with that person.
How do you respond when someone sends a connection request and within minutes of you accepting, direct messages you trying to sell you something? If there isn’t any effort being made to build relationship with you first, Wayne suggests disconnecting with that person. Learn why building relationship is important in establishing credibility before a sale and why pre-canned, automated systems aren’t the best tactic by listening to the whole episode!
Earlier in LinkedIn’s history, one could post an article, and all of that person’s connections would be notified that an article had been posted. Articles, however, aren’t as profound as they used to be. Wayne explains that the tactic originally worked because LinkedIn was trying to garner quality material within its platform. Over time, however, people began cutting corners on the quality of their articles and began only posting a sentence from a blog post or a small paragraph. LinkedIn pulled back from the promotion of articles as the material deteriorated in quality.
While it is important to include your latest blog posts and articles on your profile, make sure that your writing is of high quality. People viewing your profile will want to see professionalism throughout your material - including your writing. Excellent writing builds credibility. Wayne encourages the strategy of re-sharing articles that may be a month old and didn’t receive the attention it deserved.
What does a view or impression mean? Unfortunately, they aren’t as big of a deal as some might wish. Wayne explains that an impression or view is essentially someone sweeping by your post but not actually looking at it. The activity to get excited about is comments. Making sure you are active on your posts and promoting conversation is also helpful. A response to others on your own post still counts as activity that will help broadcast your post to even more connections.
Personal pages are often more powerful than company pages because of the greater number of connections often found on personal pages. While posting on both will help generate greater activity, Wayne encourages users to focus their energy on their personal page. For more insight and tips on how to create the best content and broadcast it to the greatest number of connections, listen to the whole episode! Growing your business through LinkedIn isn’t as hard as you think.
Gaining LinkedIn success is not as difficult as some may think. Utilizing the world’s largest database of professionals is key to marketing your manufacturing business and rising as a leader in the industry. Guest speaker, Wayne Breitbarth, is a LinkedIn trainer and shares his strategies and insights into the powerhouse of LinkedIn and how manufacturing leaders can effectively connect with other leaders, share their businesses, and expand their reach.
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LinkedIn is the largest database of professionals and business leaders that is available. As business leaders, LinkedIn is a powerful tool that can be used to market businesses, find competent employees, and connect with other influential industry leaders. An exuberant amount of time isn’t needed to establish yourself and your business on LinkedIn. Wayne explains that it is all about strategizing the processes and systems available on the platform and focusing on what matters to you and your company.
The essence of LinkedIn is not only found in the opportunities of such a large database but in the opportunity to form relationships. Relationships are the foundation of any successful business venture. Wayne describes what your relationship status may look like on LinkedIn depending on the size and purpose of your company. Sometimes more is truly more, and sometimes it’s not. If you are selling a book or trying to reach a wide audience with a new podcast release, then you may want to accept all those connections with people you may not know. If your business belongs in a more niche atmosphere, then your number of connections may be smaller - and that’s okay. It is important to understand, however, that the search engine algorithms that rule LinkedIn like to see a large connection base. Wayne suggests creating a social media atmosphere on LinkedIn that is saturated with the people of your industry, whether that be followers, customers, or other leading manufacturers. To learn more about how to create and maintain effective relationships, listen to the whole episode!
Succeeding with your LinkedIn profile can be achieved through strategizing the tools that LinkedIn offers. Keyword optimization is a large part of making yourself known and finding the people you need to help grow your business. Include specific terminology in your headline, stories, and description. Stay away from broad terms such as “strategy” in your skill-set and include specified terms such as “Podcast Host.” Show off your unique professionalism and offerings.
Your skill-set can be utilized through endorsements and recommendations. Search engines love using your list of skills as keywords. Make sure they reflect what you want to be known for. Wayne explains that recommendations and endorsements are gifts to you. Use them in business proposals and when sharing your business with others.
Posting can be a confusing tool, but Wayne explains that success in posting is all about velocity. Tagging relevant people in your post will expand its reach. Be careful to not “spam” others with overabundant tagging, but instead talk with the people you plan to tag and explain that it is a strategy to help promote and grow the business. Velocity is gained through initializing and promoting activity on your posts. Use hashtags and comment on a post that someone else tags you in to begin a conversation. LinkedIn algorithms look for how fast your post is being responded to and how much activity is being generated by your post. The more activity the better.
Beginning a profile or revamping a stagnant one isn’t hard! Begin by understanding your audience. Who are you writing and creating your profile for? Headlines should be short but descriptive. If you have five jobs, then list all of them in your headline and title. Create stories that are relevant and captivating when describing your job positions. Ask yourself, “How can my job experiences benefit others?” Promote your strengths and don’t be shy about creating an eye-catching profile. For more insight into what makes a great LinkedIn profile, listen to the entire episode!
Having the best workholding system is just as key as having the best tools! Jim Carr and Jason Zenger know the importance of keeping up with the game as manufacturing leaders. Growing up working the shop floor, guest speaker, Alvin Goellner, is the Business Development Leader of North America at Amrok Workholding. In this episode of MakingChips, he shares the latest trends in workholding systems and why you need to implement them for optimal efficiency and quality performance in your manufacturing business.
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The workholding process is all about how rigid you can make your setup - creating a solid foundation that will hold your material for optimal performance. Without a steady and rigid workholding system, your process will be riddled with chatter, less tolerance, and damaging vibration. While it is less of an investment to just keep upgrading your cutting and milling tools, it is still key to keep your workholding system up-to-date. The way your tool and materials are being held is vital to the outcome of the end-product. The workholding system must be rigid, robust, and competent at holding your material and efficient at resizing and holding different projects. Alvin explains that you can own the best cutting tools in the world, but without a competent workholding system, your product will not be the best on the market.
Alvin explains that over the years, he visited different manufacturing shops and studied the varying methods and machining solutions to the workholding process. He then went back to his own company - Amrok - and built the workholding systems that solved the problems he had found in his travels. The result was the 2-inch grid system, which has become an industry standard. While there used to be odd-sized grid systems with varying sized plates, Alvin found that most products can fit into the 2-inch grid plate. An incredibly efficient system, the hardened bushing, lock-tightened, slip fitted grid retains center distance tolerance because of its minimal clearance. 2-inch sub-plates are the common sub-plate, which allows for efficient adjustment of the numbers for varying projects. To learn more about the efficient and customizable applications of the 2-inch grid system, listen to the entire episode!
When projects become large a TRIAG modular vise system is the most efficient. With modular clamps that can fit almost any shape, the system boasts serrated base rails that mount on a standard, 2-inch grid and locate with dowel screws. This system enables the spindle to keep moving, thereby creating a more efficient process. The modular components can be loosened in seconds, and you don’t have to spend time indicating because of the dowel screw location. Listen to the full episode for more information on how the TRIAG modular vise system works and why it improves overall performance.
With so many options available on the current market, Alvin supplies three workholding systems that will instantly improve efficiency in the shop. First, optimize your foundation. Implementing a 2-inch grid system enables you to work with a lot of different system types, tools, and materials. Second, hydraulic, dedicated fixtures that automatically fit the part with a flip of the switch will save you time and energy. Third, introducing a low mix, high volume TRIAG system to your shop floor will prove invaluable. Center-less vises that mount on a rail are lighter and more efficient. Alvin explains that if you need to move from one sized part to another, the application is easy and fast, allowing you to produce more chips and earn more money.
The team at MakingChips knows how important it is for the Metalworking Nation to optimize efficiency and productivity. Having the right tools for the job is at the foundation of a leading manufacturing business. Guest speaker, Tom Senger, gives the run-down on the latest and greatest tools to utilize on the shop floor. Tom is the manager of the Vending, Integration, and Productivity (VIP) program at Zenger’s. Helping customers integrate new operations, realize new levels of productivity, and bring in greater revenue is his specialty. Manufacturing runs in his blood, and he understands what tools to use to get the job done.
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The tools you use can make or break the impact of your manufacturing business. Hosts Jim Carr and Jason Zenger know you need to be making chips. Being on the cutting edge of cutting tools is imperative to saving money. Tom gives several suggestions for what tools to use for what job and explains that several improvements are being made throughout the manufacturing tool spectrum. Consistency is one of them.
Small diameter, multifunctioning drilling tools have seen huge improvements in all-around consistency. It’s no longer the case that you need specialized tools for each part of the job. Not only do multi-functional drilling tools save you a ton of space in your collection storage, but they also get the job done with consistent quality and efficiency. Invest in one tool that can serve multiple functions.
Coolant through is being implemented across the tool board. This quality helps reduce wear and tear on your drill bits, improves lubricity, and saves you time and money on maintenance, especially with solid carbide spindles and bits. It also improves consistency. Tom shares about some of the utilization of coolant through on the shop floor.
Flat-bottom drills are excellent because they don’t have to be followed up by an end mill. They have replaceable tips and a myriad of products that you can place on the high-speed, coolant through, steel body. The flexibility of this tool enables you to save on carbide costs, and it is incredibly precise with diameters down to a millimeter and a half.
Coolant through is also improving the performance of turning and cutting tools, cut-off and groove tools, and milling tools. Fast and high-speed milling tools are seeing smaller diameters, indexable end mills, and dynamic milling processes with the help of CAD CAM software. Different high feed cutters are being utilized to create more corners, even up to 6, 12, and 16 corners with repeatable functions. Turning and cutting tools are being improved with higher feeds and a greater depth of cut. The coolant through allows for less load on the spindle. It’s much the same story with cut-off and groove tools. Tom explains that the coolant through allows for a cooler cutting zone, cutting the cutting time by almost half.
Be sure to listen to the full episode for all the details on how and why these improved tools need to become your next investment!
As Tom points out, coating is king. Products and tools are no longer simply coated in a layer of tin. Now, there are several layers of different materials being applied for improved performance. Post-treatment coating is especially valuable, coming over the top insert and applying a clear, shining, polished surface. The polish protects and preserves carbide function and strength, improving the shelf-life of the tool up to 25%.
Tolerancing is also an obvious ingredient of a great tool. Improved molding technology paired with coolant through enables tools such as the solid carbide spindle coolant drill to function with consistent quality up to a thousand repeatability.
Carbide is expensive, and the more you can save on the life of your carbide tools and bits, the better. Solid carbide end mills have been a staple, but Tom explains that many are moving away from solid carbide and choosing steel shanks instead. Different types of end mill heads can be applied to the shank, and many of them have been made smaller for improved performance. Investing in coolant through applications and the right coating can have a huge, positive impact on the shelf-life of your carbide collection, allowing you to work harder, longer, and better without the constant maintenance costs.
For more insight into the latest cutting tool trends, be sure to listen to the entire episode!
Understanding how to create an employee development plan can be difficult if your company is not striving towards constant improvement. Guest speaker Jess Giudici is back with the MakingChips team to discuss the importance of taking the time to focus on each employee’s goals and dreams and how to foster alignment between their goals and your company’s vision. Developing your team can help you better understand why people leave your company and why they stay. Listen to this episode for insightful advice on how to best strategize your development plan and build an ever-improving team!
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While a lot of people look at employee development as getting someone to the next level or role in a company, Jess encourages business leaders to view their development plan as a tool to foster continual growth in the individual. A good strategy is to diversify the development process. Don’t make your development plan entirely made up of formal meetings between you and the employee. While you should have planned discussions with documented goals and deadlines to meet those goals, you should also make an effort to informally engage in conversation on the floor. Learn about who they are and what they want from life, from work, from their skill-set. Jim and Jess agree that having a standard set of questions and procedures as a base to employee development is an excellent place to start - but allow space in the personal conversations you have as well. Documenting the conversations you have can help clarify future meetings, goal-making, and accountability.
Each person is unique and will be motivated in different ways. The goal should be to align the skills that a person is motivated to learn and their aspirations with the goals and vision of the company. Ask your employees what they are passionate about. Ask what they find challenging in work and how you can help them overcome those challenges.
What if someone doesn’t want to “move up the ladder” and take on leadership? Jess says that such an answer is perfectly okay - as long as your company can sustain the current position. The goal is to engage with your employees and make sure that they are feeling fulfilled in their positions.
Annual reviews are often a combination of performance review and pay review. Jess suggests that the two be separated and discussed independently of one another. While the pay may be influenced by performance, excellent performance doesn’t always mean a raise in salary. The focus should be on the employee, not the pay. This elevates the importance of performance and sends the message that you care about how the employee is doing and feeling in his or her job.
When dealing with individuals who feel they should be paid more while being allowed to stay in their current skill-set and position, Jess encourages company leaders to be frank and honest about the company’s expectations and salary caps. Supporting your employees is key, but be clear about the policies. Listen to the entire episode for more advice on how to evaluate your employee performance and foster a thriving company culture!
Understanding and evaluating retention and attrition can be confusing. Jess explains that employees leave for a wide variety of reasons, and you shouldn’t be surprised when you hear that someone is leaving your team. If you are surprised, then something probably went wrong in the development process. You should be self-evaluating your company’s processes to make sure you are doing your best at developing your employees and the company’s goals. Jess suggests having interviews with people who are leaving - as well as with people who love their work and want to stay long-term. Understanding why people want to stay can help you understand why some people may not be a good fit and want to go.
Creating a company culture where everyone has a voice is vital to a thriving and happy atmosphere and excellent work ethic. Jason points out that a great culture comes from truly loving and caring about the business and the people who work it. Jess reminds leaders to understand who they are as an employer and to take the time to understand their employees’ voice.
Streamlining and optimizing your company’s hiring and onboarding processes can be difficult and sometimes daunting. Hosts Jim Carr and Jason Zenger bring helpful and common questions to the table with guest speaker Jessica Giudici - manager of organizational development at Smalley. Jess gives practical and engaging advice on how to approach your hiring process and create efficient, job-unique procedures for finding the best individuals for your company’s needs. Learn how staying true to your company’s vision and values can help save you time in the hiring process on this episode of the MakingChips podcast!
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Where should manufacturing leaders start when assessing their company’s hiring process? Jess emphasizes that understanding who you are as a company is key. Branding isn’t just something that you talk about with the marketing team; who you are should permeate everything you do, including hiring and onboarding. Identify and establish who you are as an employer. What is your commitment to your employees and team members? Jess explains that when you understand who you are as a company and employer, it helps narrow down who you want to join your team and who will make a good fit.
Recognizing your identity is just the first step. The next is understanding who your audience is when marketing an open position. A cookie cutter approach to hiring won’t attract the unique candidates that you want to see applying for your specific job opportunities. From there, you can hone down which platform you will use to market the job. After you have identified who it is you need - and for what job - you need to walk through what the first conversation will look like. Put yourself in the candidate’s shoes and think about what they will find and feel when they walk through the door at the first meeting. Are your processes outdated? Is it all paper and work? Is it boring? Think again about who you are as a company and create an atmosphere that highlights your strengths, values, and vision.
Jess discusses why speed to hire must be executed within the framework of quality over quantity. You don’t need 10 or 20 candidates; you need one excellent candidate. Create an interview process for your company that focuses on finding the right fit. Jim and Jason agree, saying that making sure the candidate is aligned with your core values is essential. Jess recommends training your hiring managers to effectively engage the candidate and to listen to the entire team’s perceptions. She discourages the 2 on 1 interview, explaining that it is needlessly intimidating to the candidate, and it is easy for the emphasis of the interview to shift from the candidate to the communication between interviewers. To learn more about the best practices for interviewing and whether or not money should be discussed in the process, listen to the full episode!
Having an optimized onboarding process is just as important as having solid hiring procedures. Jess recommends walking through the goals and desired impressions of the onboarding experience. She reveals that it only takes about 45 days for a new employee to decide whether or not they wish to stay with a company long-term or begin looking for new opportunities. The first few months are vital! Training your leadership on how to engage effectively with new recruits will quicken learning and make for a positive experience for all participants. The focus should be on creating an environment in which the new employee can thrive as a learner. For more excellent tips on how to streamline your manufacturing company’s hiring and onboarding processes, listen to the entire episode! Jim and Jason encourage you to not become overwhelmed but to take things one step at a time, leading to effective success.
The word is out - the economy is changing, and you should probably start planning for a recession. MakingChips hosts Jason Zenger and Jim Carr help take the intimidation out of a looming recessional period by offering some practical advice based on their own personal experiences with leading manufacturing businesses during economic recessions. Learn how you can get a head start in your business and personal life by making just a few - and not too frightening - changes to your company’s lifestyle in this important episode of the MakingChips podcast!
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Jim and Jason explain that recessions in the economy are inevitable. While we can’t ever know for sure when or how harshly recessions will hit, we can take steps to prepare for the strike. There are difficulties in every season of the economy - even in the good times. Recessions simply provide a different set of challenges that can be weathered more effectively by those who plan accordingly. Jim and Jason point out that the manufacturing economy is at a booming national high, which makes now the perfect time to save and plan for a dive.
A looming recession raises numerous questions on how to best manage company and personal finances. Jim and Jason give helpful starting points for long-term effectiveness, beginning with the important step of keeping your debt low and under control. The probability of needing to cut job margins is high, and there will not be as much room in the profit margin to play with. Keeping debt thin will leave more room for necessary funding. Saving money is also vital. Jim and Jason recommend bulking up the savings account to create a buffer for yourself and your company for when times get tight. Saving now can help counter the possible need to cut employment levels. A third way you can take precautions now is to be prudent with your company and personal spending. Determine what you can cut out of your business and personal spending and make a budget. Learn how sacrificing now can save you later by listening to the full episode!
Don’t leave your employees and team members in the dark on what is happening in the economy and of the changes that you will likely need to make in your business when the recession hits. Encourage your team to not overextend themselves and to prepare themselves. Build up morale by explaining the cyclical nature of the economy. Recessions don’t last forever! Give them tools to help them prepare (such as this podcast!). Refrain from purchasing new machinery leading up to the recession and during. Invest in your current machinery by making necessary repairs and keeping up on maintenance. Today’s machinery will be tomorrow’s money-makers. Invest now while you have the monetary means.
Jim and Jason point out that opportunity is available in every season of the economy. Diversify your customer base now so that when things get rough, your company’s well-being won’t be compromised by the collapse of just one or two of your clients. Not all of your customers will be affected by the recession in the same way. When the recession does hit, don’t sit back and wait it out. Look for ways to build your business by observing what is available when other companies are struggling. An example Jim and Jason give is acquiring your competition’s businesses or bringing them onto your team. Look for ways you can help yourself by helping others. For more tips and tricks on how to lessen the pain of a recession and effectively prepare your manufacturing business for the coming times, listen to the full episode!
In this episode of MakingChips, Jason Zenger and Jim Carr introduce a new team member, Christine Schmitz - an experienced editor and writer who explains why storytelling matters to manufacturers and their businesses. Having long been connected to the manufacturing world through her husband, Dr. Tony Schmitz (featured in a previous episode), Christine has an intensely valuable viewpoint on how and why it is important for leaders to be able to tell good stories. “Communications is the foundation of who I am,” Christine shares. To communicate well, one must build relationship, and relationship is founded in the sharing of stories. Want to know what makes a great story and how knowing how to write one can boost your game in the manufacturing business? Listen to the whole episode!
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Just as in manufacturing, there is a process of writing a good story. Christine shares the process of how to take your story and vision and work it into a compelling and useful tool.
Christine points out that most people only think of themselves when communicating. To build a lasting and effective relationship, however, one must think of the other person - in this case, the manufacturing leader must think of his or her business, employees, customers, and possible recruits. All of these categories are readers of your story who want to know, “What’s in it for me?” It can often be difficult for manufacturers to share the story of their work, the challenge of their highly technical fields, or the processes they use. Christine reveals that relevance is key to building the bridge between writer and reader. “When it’s hard to explain what you are doing to another person,” she explains, “it dramatically impacts the relationship you can have with them.” To learn how to best create a shared vision through your story, listen to the full episode!
Tailoring your message to your audience is vital for the survival of your story. But how should you convey your manufacturing story to capture your audience? Christine points out that manufacturing is something that permeates everybody’s lives. Manufacturers produce something tangible every day, whereas most other people do not. People want to know how and why you create the things you do - as long as the application applies to them. Your audience wants to know what the problem is that you solve and how and why you solve that problem. Connect yourself with your audience by concentrating your story on the end result of your work.
Christine warns against the temptation to simply flood your readers and audience with information that they may not be interested in or need. Always take quality over quantity. One way you can ensure the quality of your writing is through an editor. While your professional expertise is needed to correctly tell the story, an editor can help you build the strongest and most effective bridge between your story and your audience. Also, realize that there is no one way to write. Find a process that works for you and don’t be afraid to change that process when it’s not working. To learn more about writing as a process and why storytelling matters to your manufacturing business and skillset, listen to the full episode!