We launched Manufacturing Mavericks in Late 2023 to tell the stories of people who aren’t afraid to shake things up and stand out from the crowd. We’ve had three fabulous guests so far with many more in the pipeline for 2024:
- Hernan Ricaurte, President of Ricaurte Precision Inc.
- Jack Russell, President of ROLAR Products
- Dave Capkovitz, Principal / Owner of EBITDA Growth Systems
To close out the year, here is a highlight reel of their best insights and advice around growing a business. Enjoy!
In this episode, you’ll learn:
- Just pick up the phone and make friends with your competitors because there’s so much work to go around. (01:03)
- You have to be willing to get rid of some customers. (03:19)
- Without your employees, you can’t make money. (04:16)
- The value is in shortening the cycle or reducing the wasted motion. (04:59)
- Put the deal right on the shop floor. (05:18)
- Invest in technologies that will make an impact. (07:47)
- Technology that talks to each other is incredibly helpful. (11:14)
- Invest in digital technologies early on. (12:18)
- You can’t scale on tribal knowledge. (13:31)
- Understand your ROI. (14:53)
- Identify your costs and rightsize your pricing. (17:34)
- The supervisor is NOT free. (20:17)
- What you need to do to meet your profit margin. (20:44)
“You have to be willing to get rid of some customers or at least have a hard conversation to say, ‘I can’t keep doing it this way’.”
—Jack Russell, President, ROLAR Products
“I probably would have invested in the digital technologies a little bit earlier in order to capture more data and organize data from the beginning…because that would have allowed us to get a better understanding of what our costs were, and if we’re we making money in parts or not.”
—Hernan Ricaurte, President, Ricaurte Precision Inc.
“Once you understand your cost (your fully burdened cost) you can take that and say, ‘What’s the margin we need to make for our goals?’.”
—David Capkovitz, Principal / Owner, EBITDA Growth Systems
Links Referenced:
- mfgmavericks.com: https://mfgmavericks.com
- Ricaurte Precision Inc.: https://www.ricaurteprecision.com/
- ROLAR Products: http://www.rolarproducts.com/
- EBITDA Growth Systems: https://ebitdagrowthsystems.com/