Cookouts, the beach and sunshine – it’s summertime … and the living isn’t easy…
As George Gershwin put it in Porgy and Bess, the Classic song Summertime says: the fish are jumpin’ and the cotton is high. Your Daddy’s rich and your Momma’s good lookin’.
Now, I am not going to get into a discussion about anyone’s “Momma” and her looks. I will let the stand-up comedians do that. However, most of us Daddy’s don’t feel rich at all right now. If you listen to the news, you will continue to be discouraged. From the economy and the auto industry mess to the Middle East, it is ugly everywhere. Or is it?
At FabTech, we are doing well. We are working full crews and looking at a strong backlog. As I talk to customers and prospects, many are encouraged that they have made it through some tight times and the wheels haven’t fallen off. As one contract glazier told me, we have chosen not to participate in this recession.
Now, don’t get me wrong. Business is tougher these days. Many jobs have been delayed or cancelled altogether. Others have so many glaziers bidding that the jobs are going out at break even margins. There are many who are foolishly happy to trade money with the bank. Let’s all hope those guys are weeded out by their stupidity.
So, dig in and know your business strengths and weaknesses. Exploit the strengths to get leaner and meaner. Work on the weaknesses so you will be better positioned when things light up again.
As the song says,
Hush, little baby don't you cry
don't cry, don't cry, don't cry
no no no no
don't cry, don't cry – Summertime
So take a break and listen to some of my favorite versions of this classic tune and enjoy your summertime. Versions by Billy Holiday, Ella and Stachmo, and a wild one by Janice Joplin.
Tuesday, June 9, 2009
Tuesday, April 21, 2009
Positive Opportunities
In today’s media-driven world, too often the dialog is defined by negativity. Words like “crisis,” “bailout,” “unemployment,” “fraud” and “war” take the headlines. When thinking about opportunity, you must remember that it cannot be given, but must be earned …
Whatever your political leaning, most businesspeople look at the current culture of giveaways and spending with concern. Billions in bailouts, trillions in national debt, thousands of earmarks. It seems like everyone is waiting for the government to come in and solve their problems. Trust me, it won’t work!
Recently, my father, a retired business executive, shared some thoughts on opportunity. He noted that if you try to GIVE opportunity it is no longer opportunity. Opportunity must be earned.
Like education, opportunity can't be given. It must be earned. As a parent you can show your children the way to an education but they must study. You can give a book, a computer, a classroom. The school can give a degree—but only the child can achieve an education.
The same is true for opportunity. We can show our children and our fellow man the way to opportunity but it can't be given, it must be striven for, achieved … secured.
Whether it is the current global economic situation or your own business, remember that you must make your own opportunities. If you wait in line for a bailout or stimulus windfall, it will be a long year.
Thanks Dad.
Whatever your political leaning, most businesspeople look at the current culture of giveaways and spending with concern. Billions in bailouts, trillions in national debt, thousands of earmarks. It seems like everyone is waiting for the government to come in and solve their problems. Trust me, it won’t work!
Recently, my father, a retired business executive, shared some thoughts on opportunity. He noted that if you try to GIVE opportunity it is no longer opportunity. Opportunity must be earned.
Like education, opportunity can't be given. It must be earned. As a parent you can show your children the way to an education but they must study. You can give a book, a computer, a classroom. The school can give a degree—but only the child can achieve an education.
The same is true for opportunity. We can show our children and our fellow man the way to opportunity but it can't be given, it must be striven for, achieved … secured.
Whether it is the current global economic situation or your own business, remember that you must make your own opportunities. If you wait in line for a bailout or stimulus windfall, it will be a long year.
Thanks Dad.
Wednesday, March 18, 2009
Hope Springs …
As the weather in Northeast Ohio turns warmer this week, we are all trying to think positive. After a very harsh winter—bad weather, bad news and bad tempers—I think everyone is poised for a warm up.
Often, I believe that businesspeople act like coldblooded animals. No, I don’t mean in the heartless sense of the typical metaphor regarding management. I mean that we are all changed with the cold weather. The lack of sunlight combined with the snow/rain/sleet puts people in a foul mood. This winter, the mood has been made far worse with the economic conditions.
So, now is the time for renewal and hope. We are all hunkered down but need to rise up and get moving. The marketplace won’t be kind to everyone. We all need to grab whatever advantage we have and improve it. Take our shortcomings and improve. The victory will go to the strong. When the market was booming, everyone was making money and growing. Now, each of us must be more diligent and disciplined.
As the grass starts to green up and the trees are budding, take time to plan and renew your efforts. Maybe the sunshine can put us all in a better mood and improve our operations at the same time.
Off topic note to readers in the Midwest—I recently was able to visit a great art exhibit. The Canton Museum of Art in Canton Ohio is showing a fantastic display of decorative kimonos. This show is great. My wife and I took our four children to see it. I will confess that I was worried about the kids’ reactions to having to give up a Sunday to look at “a bunch of painted clothes.” But, they all loved the exhibit. They are now really excited to go back to see the sumo wrestling match that is being put on in conjunction with the overall theme. I encourage everyone who is in the area to visit. The show goes through the end of April. If you need additional motivation for the kids, you can also tie in a visit to the Pro Football Hall of Fame on the same trip.
Often, I believe that businesspeople act like coldblooded animals. No, I don’t mean in the heartless sense of the typical metaphor regarding management. I mean that we are all changed with the cold weather. The lack of sunlight combined with the snow/rain/sleet puts people in a foul mood. This winter, the mood has been made far worse with the economic conditions.
So, now is the time for renewal and hope. We are all hunkered down but need to rise up and get moving. The marketplace won’t be kind to everyone. We all need to grab whatever advantage we have and improve it. Take our shortcomings and improve. The victory will go to the strong. When the market was booming, everyone was making money and growing. Now, each of us must be more diligent and disciplined.
As the grass starts to green up and the trees are budding, take time to plan and renew your efforts. Maybe the sunshine can put us all in a better mood and improve our operations at the same time.
Off topic note to readers in the Midwest—I recently was able to visit a great art exhibit. The Canton Museum of Art in Canton Ohio is showing a fantastic display of decorative kimonos. This show is great. My wife and I took our four children to see it. I will confess that I was worried about the kids’ reactions to having to give up a Sunday to look at “a bunch of painted clothes.” But, they all loved the exhibit. They are now really excited to go back to see the sumo wrestling match that is being put on in conjunction with the overall theme. I encourage everyone who is in the area to visit. The show goes through the end of April. If you need additional motivation for the kids, you can also tie in a visit to the Pro Football Hall of Fame on the same trip.
Wednesday, February 25, 2009
General Thoughts …
… On the stimulus package, on the economy, on burdens placed on businesses and individuals who make a profit and on Vegas…
The news these days can be especially depressing. Everyone from the president on down keeps using phrases like “crisis,” “deeply troubled” and “emergency.” I believe we are in a very, very tough economy with many challenges. However, I do believe some of the condition is the result of the media coverage and how we are all talking to each other.
One media story that captures the differing opinions on how to deal with the economy is Rick Santelli’s rant. I think he has some great points. As a business that makes a profit, I am worried that the payback for all the stimulus programs will be on the shoulders of companies that are doing the right things—hiring workers, sharing profits, investing in equipment and other technologies and paying our fair share of taxes. Let’s hope I am wrong
Last week, several of us from FabTech attended GANA’s BEC conference in Las Vegas. The show was very productive and informing. We met many new contacts and possible business partners. However, the thing that intrigued me was the fact that almost every conversation came around to the state of the economy and prospects for business. I heard again and again “we are hanging in there” and “well, at least we aren’t in the residential market” and “I am worried for next (month, quarter, year).” Obviously, anyone who isn’t paying attention to the market conditions is foolish. But, I am vowing to try to be more positive in conversations. Maybe we can all contribute to ending this crisis of perception and confidence.
It was great to be at BEC for a second year. It was a little easier to navigate knowing the lay of the land. We met a lot of new folks. Even met the blog master Max. Had a lot of fun also. From the Tropical Oasis’s to Venice to Paris to Munich, Vegas has it all. If you have never been to the Hofbrau Haus in Germany, the replica in Vegas can be a lot of fun also. Just ask the King - Mike R.
The news these days can be especially depressing. Everyone from the president on down keeps using phrases like “crisis,” “deeply troubled” and “emergency.” I believe we are in a very, very tough economy with many challenges. However, I do believe some of the condition is the result of the media coverage and how we are all talking to each other.
One media story that captures the differing opinions on how to deal with the economy is Rick Santelli’s rant. I think he has some great points. As a business that makes a profit, I am worried that the payback for all the stimulus programs will be on the shoulders of companies that are doing the right things—hiring workers, sharing profits, investing in equipment and other technologies and paying our fair share of taxes. Let’s hope I am wrong
Last week, several of us from FabTech attended GANA’s BEC conference in Las Vegas. The show was very productive and informing. We met many new contacts and possible business partners. However, the thing that intrigued me was the fact that almost every conversation came around to the state of the economy and prospects for business. I heard again and again “we are hanging in there” and “well, at least we aren’t in the residential market” and “I am worried for next (month, quarter, year).” Obviously, anyone who isn’t paying attention to the market conditions is foolish. But, I am vowing to try to be more positive in conversations. Maybe we can all contribute to ending this crisis of perception and confidence.
It was great to be at BEC for a second year. It was a little easier to navigate knowing the lay of the land. We met a lot of new folks. Even met the blog master Max. Had a lot of fun also. From the Tropical Oasis’s to Venice to Paris to Munich, Vegas has it all. If you have never been to the Hofbrau Haus in Germany, the replica in Vegas can be a lot of fun also. Just ask the King - Mike R.
Tuesday, February 3, 2009
Words on Wall Street
We should all be incensed by the behavior of Wall Street executives. They are giving capitalism a bad name.
I will be brief in this entry. As we are all following the TARP, Bailout, Stimulus Packages, etc., I am getting increasingly frustrated with the attitude of entitlement.We should all be incensed by the behavior of Wall Street executives. They are giving capitalism a bad name.
I realize many today in America and around the globe are innocent victims of the economic downturn. Thousands have lost jobs in wide waves of layoffs and they are struggling to survive and provide for their families. I feel for them and hope they can pick themselves up and find a good job soon.
However, I have no kind thoughts for those executives on Wall Street who continue to feel that they are “owed” bonuses as they have driven their companies into the ground. They are holding their hands out for tax dollars to “survive.” Then, they turn around and pay a bonus pool in the BILLIONS! That is a THOUSAND MILLION DOLLARS!
Here is an article that best sums up the situation and gives a very cogent argument combating the widely held beliefs that “it is just the way Wall Street works.” Might be up until today, but it should stop – NOW!
I will be brief in this entry. As we are all following the TARP, Bailout, Stimulus Packages, etc., I am getting increasingly frustrated with the attitude of entitlement.We should all be incensed by the behavior of Wall Street executives. They are giving capitalism a bad name.
I realize many today in America and around the globe are innocent victims of the economic downturn. Thousands have lost jobs in wide waves of layoffs and they are struggling to survive and provide for their families. I feel for them and hope they can pick themselves up and find a good job soon.
However, I have no kind thoughts for those executives on Wall Street who continue to feel that they are “owed” bonuses as they have driven their companies into the ground. They are holding their hands out for tax dollars to “survive.” Then, they turn around and pay a bonus pool in the BILLIONS! That is a THOUSAND MILLION DOLLARS!
Here is an article that best sums up the situation and gives a very cogent argument combating the widely held beliefs that “it is just the way Wall Street works.” Might be up until today, but it should stop – NOW!
Wednesday, January 28, 2009
Snow Day
In most of the U.S., it has been a cold January. We are all bundled up against the weather, the employment news, and the general malaise. Everyone seems to be down in the dumps -everyone except the kids.
Think back to that joyous feeling of a snow day. You wake up late then start to make plans to go out with your friends to sled, skate, or snowball fight. It always amused me that the school thought it was too severe for the kids to wait at the bus stop on these days. Then, the kids all spend 8 hours outside playing. Ah, the innocence of youth.
So, what lessons can we learn for our businesses from the snow day? It seems like businesses these days are acting like the parents on snow days. We are all worrying about how to deal with the unexpected. Instead of daycare, hot chocolate supplies and “Mom where are my mittens,” we are worrying about backlog, quoting activity and cash flows. Sure, every responsible manager needs to be conservative these days. Activity is slowing and the global slowdown is catching up to North American commercial glazing. We do need to think like the snow day parents.
However, I propose we need a little of that kid attitude.
Call your friends to see who can play. That can translate to more outbound phone and email outreach to current and prospective prospects and partners. Can your business provide more value by linking your skills and experience with another company possessing complementary abilities? Like the successful snowball team has fort builders and strong throwers, your glazing business might benefit from partnering with different subcontractors to present a united front to a GC. The first step is calling someone.
Trying a new game. Never tried to ice skate? Kids just get out there and fall on their butts laughing the whole time. It is scary and might hurt a little, but stretching your product offering can be liberating and profitable. You might try to expand into some interior applications, panel, solar or decorative.
Warm up back at home by the fire. Some snow days it is a luxury to sit around the house and just enjoy being with your family. In business, these times provide the chance to look around your operation and see what might need to be improved and changed. Does your shop scheduling need some tweaking? Are all the players in your operation the best available (especially given the number of good people out of work)?
After all, you might get a runny nose, cold toes, or a sore butt from those snow day games, but it sure is exciting.
Think back to that joyous feeling of a snow day. You wake up late then start to make plans to go out with your friends to sled, skate, or snowball fight. It always amused me that the school thought it was too severe for the kids to wait at the bus stop on these days. Then, the kids all spend 8 hours outside playing. Ah, the innocence of youth.
So, what lessons can we learn for our businesses from the snow day? It seems like businesses these days are acting like the parents on snow days. We are all worrying about how to deal with the unexpected. Instead of daycare, hot chocolate supplies and “Mom where are my mittens,” we are worrying about backlog, quoting activity and cash flows. Sure, every responsible manager needs to be conservative these days. Activity is slowing and the global slowdown is catching up to North American commercial glazing. We do need to think like the snow day parents.
However, I propose we need a little of that kid attitude.
Call your friends to see who can play. That can translate to more outbound phone and email outreach to current and prospective prospects and partners. Can your business provide more value by linking your skills and experience with another company possessing complementary abilities? Like the successful snowball team has fort builders and strong throwers, your glazing business might benefit from partnering with different subcontractors to present a united front to a GC. The first step is calling someone.
Trying a new game. Never tried to ice skate? Kids just get out there and fall on their butts laughing the whole time. It is scary and might hurt a little, but stretching your product offering can be liberating and profitable. You might try to expand into some interior applications, panel, solar or decorative.
Warm up back at home by the fire. Some snow days it is a luxury to sit around the house and just enjoy being with your family. In business, these times provide the chance to look around your operation and see what might need to be improved and changed. Does your shop scheduling need some tweaking? Are all the players in your operation the best available (especially given the number of good people out of work)?
After all, you might get a runny nose, cold toes, or a sore butt from those snow day games, but it sure is exciting.
Wednesday, December 17, 2008
The Old vs. The New
FabTech is undergoing many changes. We have been in business more than 15 years. The company has grown steadily using few systems and formal processes. We are at the tipping point where the “old way” is giving way to the “new way.” Now which way?
Like many start-ups, our company developed many habits over time to deal with the challenges of serving customers while controlling costs. Communications are never a challenge when there are only 5 or 6 people in a business. Everyone knows what everyone else is doing. Forms, process flow, quality checks, lean manufacturing and other tools are just built in. The challenge comes with success. When you go beyond 10 people in any venture, you need to put some formal processes and tools in place.
FabTech has tripled in size over the last few years. We have added staff on the plant floor and in the office. We have grown market share and our capabilities. The challenge is making the transition from “seat of the pants” to “organized and accommodating.” The market is demanding ever more speed, quality and flexibility from us. Glaziers are getting that pressure from general contractors who are getting it from architects and owners and so on and so on and so on.
Fortunately, we have a good crew of old hands and new blood. The veterans have been pretty open to the new ideas. Sure, there has been some gnashing of teeth when some of the old ways get tweaked. This has been minimized with the launching of profit sharing for all associates. Funny how a little cash for success can get everyone rowing in the same direction.
The price of putting some formal processes and tools in place is well worth it. In the chaotic world of commercial construction, those who are better, faster and less expensive win. Others better watch out!
Do you have any stories about transition stages in your business? If you are willing to share challenges, solutions or anecdotes, let me know. I am sure others would enjoy reading some war stories.
A quick shout out to Paul Bieber. He is another blogger for USGNN. I had the pleasure of meeting Paul at the Glass Expo Midwest. We had a great discussion about the industry and our backgrounds. It was very enjoyable to get to know Paul a little better. He really knows the market and how to run a glass business. Thanks Paul for the lunch and the company. You can check out his blog here.
I hope everyone has a great Holiday Season. Stay safe and enjoy the time with friends and family.
Like many start-ups, our company developed many habits over time to deal with the challenges of serving customers while controlling costs. Communications are never a challenge when there are only 5 or 6 people in a business. Everyone knows what everyone else is doing. Forms, process flow, quality checks, lean manufacturing and other tools are just built in. The challenge comes with success. When you go beyond 10 people in any venture, you need to put some formal processes and tools in place.
FabTech has tripled in size over the last few years. We have added staff on the plant floor and in the office. We have grown market share and our capabilities. The challenge is making the transition from “seat of the pants” to “organized and accommodating.” The market is demanding ever more speed, quality and flexibility from us. Glaziers are getting that pressure from general contractors who are getting it from architects and owners and so on and so on and so on.
Fortunately, we have a good crew of old hands and new blood. The veterans have been pretty open to the new ideas. Sure, there has been some gnashing of teeth when some of the old ways get tweaked. This has been minimized with the launching of profit sharing for all associates. Funny how a little cash for success can get everyone rowing in the same direction.
The price of putting some formal processes and tools in place is well worth it. In the chaotic world of commercial construction, those who are better, faster and less expensive win. Others better watch out!
Do you have any stories about transition stages in your business? If you are willing to share challenges, solutions or anecdotes, let me know. I am sure others would enjoy reading some war stories.
A quick shout out to Paul Bieber. He is another blogger for USGNN. I had the pleasure of meeting Paul at the Glass Expo Midwest. We had a great discussion about the industry and our backgrounds. It was very enjoyable to get to know Paul a little better. He really knows the market and how to run a glass business. Thanks Paul for the lunch and the company. You can check out his blog here.
I hope everyone has a great Holiday Season. Stay safe and enjoy the time with friends and family.
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