Big B
Diamond
- Joined
- Jun 26, 2009
- Location
- Michigan, USA
Thank you MrPlasma for sharing your experiences with us and the other contributors to this thread. Most interesting and lots of good information.
Possibly....she's happy because it's comfortable for her. Low pressure.Dude... That's complicated..
Replacing her. Well... On paper it would be easy, she doesn't bring any fantastic skills
to the shop, and "On Paper" anybody with a pulse could do her job. If I was a bean counter
idiot, I would lay her off and hire somebody for minimum wage.
In Reality.. I would have a damn near impossible time replacing her, even if I was in an
area that actually had a pool of people to pull from, it would be incredibly difficult.j
In 4.5 years, she has called out twice. TWICE!!!!!! once because she was sick, and once
because her car was dead. TWICE!!!!! She went home early a few times, but we all have those
days. TWICE!!!!!!
The most important thing.. She doesn't steal my shit.
Can I afford it.. Sometimes.. Don't care.
So, yesterday I asked her if she was making enough. And she said "Yeah".
So I asked if she wanted a raise, and she said "No, I'm happy where I'm at".
She actually said that.. Have any of you ever had somebody working for
you say that?
So I gave her a dollar an hour raise. I'll probably slide in another dollar
with her X-mas bonus.
Yes +1.Thank you MrPlasma for sharing your experiences with us and the other contributors to this thread. Most interesting and lots of good information.
That flyer you mailed out (I think on request only) Doo you know how many small mom & pop weld shops I saw that flyer in, tacked up on the wall ?Other than a 4x4 unit being made by another startup company, the only remotely comparable machines out there in 1998 were the expensive industrial machines you mention above. They were sold via distributors, and it was difficult to find any on-line pricing whatsoever. There was a tremendous vacuum that needed filling, i.e., a low cost 4x8 machine sold exclusively via the Internet to hobbyists and small businesses.
Good overall advise mrplasma,
I was especially drawn to your;
3. WHEN YOU DO MOVE TO A LARGER FACILITY, RENT RATHER THAN BUY!
A large portion of business start-ups cringe at what industrial space cost, but the reality is, shop space is the cheapest form of real-estate. I would also point out that the majority of manufacturing business failures, did not shut down because their rents were too high.
I have had many try to convince me that renting is wasteful, for those that want to purchase... congratulations, your now in the real-estate business.
2 more questions:
1. your product was pretty much one design, so parts count was as low as could be.
I recall seeing "custom sizes" how did you handle these "one off's" ?
Time & materials ?
2. I also saw export sales to foreign countries, how did you get the word out internationally,
to drive those sales ?
I would think so....Lincoln Electric.You mention having sold the business in 2011 about the time competitors were springing up. It's rare that the timing works out for selling a business; it requires the buyer to believe it's still on the way up.
Is the guy who bought your operation still in business?
As the Internet grew, people could access the web site from all over the world. At first, I used letters of credit for International sales -- later, wire transfers and credit cards. Toward the end, about 25% of sales were international. It takes a lot of credibility for someone in a foreign country to wire transfer, say, $15,000 U.S. to your account.
As the Internet grew, people could access the web site from all over the world. At first, I used letters of credit for International sales -- later, wire transfers and credit cards. Toward the end, about 25% of sales were international. It takes a lot of credibility for someone in a foreign country to wire transfer, say, $15,000 U.S. to your account.
And the word of mouth when entering a new market is satisfying indeed.
If you sold out to a big company like Lincoln, that's the holy grail compared to the way most businesses get disposed of. I hope that sooner or later somebody with a big enough checkbook wants to own my business more than I do. Although I never had that particular goal in mind, there's a school of thought that aims just for that.
I hope that sooner or later somebody with a big enough checkbook wants to own my business more than I do. Although I never had that particular goal in mind, there's a school of thought that aims just for that.
Enough said. Any reactions?
Dude... That's complicated..
Replacing her. Well... On paper it would be easy, she doesn't bring any fantastic skills
to the shop, and "On Paper" anybody with a pulse could do her job. If I was a bean counter
idiot, I would lay her off and hire somebody for minimum wage.
In Reality.. I would have a damn near impossible time replacing her, even if I was in an
area that actually had a pool of people to pull from, it would be incredibly difficult.j
In 4.5 years, she has called out twice. TWICE!!!!!! once because she was sick, and once
because her car was dead. TWICE!!!!! She went home early a few times, but we all have those
days. TWICE!!!!!!
The most important thing.. She doesn't steal my shit.
Can I afford it.. Sometimes.. Don't care.
So, yesterday I asked her if she was making enough. And she said "Yeah".
So I asked if she wanted a raise, and she said "No, I'm happy where I'm at".
She actually said that.. Have any of you ever had somebody working for
you say that?
So I gave her a dollar an hour raise. I'll probably slide in another dollar
with her X-mas bonus.
Does anyone have any ideas to share on types of businesses and/or products that might prove successful today, given the current economic climate?