#8 Starting a machine shop when the economy is crashing w/ Tim Drinkwater

#8 Starting a machine shop when the economy is crashing w/ Tim Drinkwater

My guest today is Tim Drinkwater [https://www.linkedin.com/in/tim-drinkwater?miniProfileUrn=urn%3Ali%3Afsd_profile%3AACoAAAKuNG4BOMMRKBGK06tty0fVOBUzHGXZdn8&lipi=urn%3Ali%3Apage%3Ad_flagship3_search_srp_all%3BitFcQTy%2FRKaOnZPvkndkdw%3D%3D], founder and owner of Accurate Machine Products [http://ampcnc.com]. Tim started as a machinist. He launched AMP in 2007 and has been in the industry for over 20 years. Most manufacturing businesses last around 7 years. AMP is pushing 18. In this episode, Tim shares how he built a company that lasts, what he’s learned about running a shop through highs and lows, and why he’s still passionate about the work. Chapters 00:00 Introduction and Background 03:02 Journey into Manufacturing 06:14 Early Career Experiences 09:05 Transition to Management and Education 11:57 Founding Accurate Machine Products 14:58 Growth and Development of the Business 18:27 Starting a Business in a Recession 24:30 Navigating Early Challenges and Growth 30:40 Lessons Learned from 18 Years in Business 36:43 The Joys of Problem Solving and Community Engagement 41:56 Advice for Aspiring Manufacturing Business Owners This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit industrialgrowth.substack.com [https://industrialgrowth.substack.com?utm_medium=podcast&utm_campaign=CTA_1]

#7 Growing up on the shop floor w/ Patrick Tobin

My guest today is Patrick Tobin [https://www.linkedin.com/in/pjtobin?miniProfileUrn=urn%3Ali%3Afs_miniProfile%3AACoAAAEbfjoBipYG4dJWA-S1sFuRwtBfZ98fAss&lipi=urn%3Ali%3Apage%3Ad_flagship3_search_srp_all%3B6uR8Ta%2BfTxeX8K7O0wxnHw%3D%3D], President of Han-Tek [http://www.han-tek.com/]. The company started in 1961 as Hartman Sales, selling shelving and pallet racks. It became Handling Technology in 1980, then Han-Tek in the 1990s. Under Patrick and his father Jon’s leadership, Han-Tek moved into material handling and automation. In this episode, Patrick shares his career path, how his family navigated a leadership transition, and what it takes to grow in a crowded automation market. Chapters 00:00 Coming Into The Manufacturing Industry 15:29 Transitioning Leadership in Family Business 21:44 Growing Up in the Manufacturing World 22:32 Navigating Family Dynamics in Business 27:42 The Journey to Leadership 32:54 Sales Strategies in Automation 38:31 Weathering Economic Storms 44:10 Transitioning to Leadership Roles 50:37 The Future of Automation This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit industrialgrowth.substack.com [https://industrialgrowth.substack.com?utm_medium=podcast&utm_campaign=CTA_1]

#6 Losing your job: A blessing in disguise w/ Sean Dotson

My guest today is Sean Dotson [https://www.linkedin.com/in/sdotson/], CEO at Elite Automation [https://www.eliteautomation1.com/]. In this episode, Sean shares his entrepreneurial journey. From founding RND in 2005 to selling the company in 2020 and eventually exiting in 2022. He also discusses his current role as the founder of Automation AMA, where he shares his expertise in automation and robotics. Chapters 00:00 Introduction to Sean and His Journey 06:01 Early Career and Transition to Automation 10:19 The Closure of His Previous Company 15:09 Starting R&D Automation 18:33 Building Trust and Overcoming Challenges 20:34 Financial Growth and Profitability Journey 22:27 Acquisitions and Strategic Growth 25:08 Navigating Challenges of Expansion 28:43 The Decision to Sell R&D Automation 30:59 Transitioning After the Sale 32:43 Building a Consultancy and Advisory Role 33:14 Networking and Industry Presence 38:58 Advice to Younger Self This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit industrialgrowth.substack.com [https://industrialgrowth.substack.com?utm_medium=podcast&utm_campaign=CTA_1]

#5 Building MFG.com and working alongside Jeff Bezos w/ Mitch Free

My guest today is Mitch Free [https://www.linkedin.com/in/mfree/], founder of MFG.com [https://www.mfg.com/], a marketplace that transformed how custom parts are sourced, attracting investment from Jeff Bezos. In this episode, Mitch shares his journey from working as a machinist to disrupting the global manufacturing industry, building advanced manufacturing facilities, and becoming a leading voice in the field. Chapters: 00:00 From High School to Trade School: A Journey Begins 10:12 The Evolution of Machining: Early Experiences 15:34 Navigating the Aerospace Industry: A Fortunate Break 18:19 Transitioning to Entrepreneurship: The CAD CAM Software Business 21:56 Creating a Marketplace: The Birth of mfg.com 27:43 Bootstrapping Success: Overcoming Financial Challenges 32:01 Facing Adversity: Health Challenges and Reflection 35:44 A Life-Changing Offer: Partnering with Jeff Bezos 41:28 Building a New Venture: The ERP System for Manufacturing 48:03 Focus and Growth: Lessons from the CNC Machining Business This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit industrialgrowth.substack.com [https://industrialgrowth.substack.com?utm_medium=podcast&utm_campaign=CTA_1]

#4 From race cars to software w/ Paul Van Metre

My guest today is Paul Van Metre [https://www.linkedin.com/in/paulvanmetre/], co-founder of Pro CNC and ProShop ERP [https://www.linkedin.com/company/proshoperp/], a paperless ERP platform widely used in the manufacturing industry. In this episode, Paul shares his entrepreneurial journey from building race cars in college to co-founding ProCNC and launching ProShop ERP. What you’ll learn in this episode: * ProCNC started as a machine shop to fund a car company. * The importance of building systems and processes in business. * Only a small percentage of companies successfully sell when they want to. Start early. * Having a strong team is crucial for preparing your company for sale * Product market fit is essential for business success. * Transparency in marketing builds trust with customers. * Investing in marketing is important once product market fit is established. Chapters 00:00 Introduction and Setup 03:58 Paul's Journey into Manufacturing 12:04 Growth and Challenges of ProCNC 21:50 Sales and Marketing Strategies in Manufacturing 30:00 Acquisition Insights and Lessons Learned 30:00 Transitioning Ownership 34:58 Building ProShop ERP 46:04 Marketing and Product Market Fit 51:58 Advice for Manufacturing Entrepreneurs This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit industrialgrowth.substack.com [https://industrialgrowth.substack.com?utm_medium=podcast&utm_campaign=CTA_1]