Strategic Analysis with current research! The Butcher Shop, Inc.
How to be successful in small business How to be successful in small business Welding shop owners share tips, experiences May 4, In November Greg Lamm was laid off from his full-time welding job.
One month later meat shop business plan philippines jobs started his own microwelding business. This year he plans to purchase a laser.
So how did he do it? It started with one phone call, then two, and then more phone calls from mold or tool and die shops in the Rockford, Ill. They all asked him if he had a welding machine, and he told each one of them no.
When they asked if he planned to get a welding machine, he said the same thing. Lamm has learned a lot from the process about how to start and maintain a successful welding company. First Steps To get the ball rolling, Lamm called several banks he hadn't worked with before to inquire about getting a loan to buy the equipment needed to start his business.
When no one would give him a loan, he talked to a small, local bank he had worked with before and got better results. The first thing the bank asked for was a business plan to take to the board.
Lamm, who didn't know what a business plan entailed, learned from the bank about the information he needed to get—quotes for the equipment he needed, prospective customers, what he expected to make, and how he expected to make it—and came back with all the answers in a basic business plan.
To find out how much he should expect to make, he called his prospective customers to find out how much they expected to spend on welding for the year.
He bought the welding and office equipment he needed to start the business, buying only what he needed, nothing extra. Don't rush in and try to do or buy everything all at once," Lamm said.
He then hired an accountant, an attorney, and an insurance agency. He also established what he calls an advisory committee, which comprises his wife, pastor, attorney, and accountant, to help him make sound business decisions. And then he opened the doors. Success has followed Lamm since then, but not without the peaks and valleys typical in the business world.
He said one of the secrets to his success is building a solid foundation. Organization is everything, from your accounting to your floor plan to your welding wires or your tungstens. Much of this is due to the way he manages his business, Lamm said. Because he's in a service industry, he feels it's important to show his customers that he appreciates their business simply by thanking them and by following up with them to make sure he's meeting their needs.
He also feels it's important to take ownership of the business by keeping it organized and keeping his facility clean and uncluttered.
He saves money by doing everything he can himself, including making his own business cards. Casting in California Although he's on the West Coast, far from Illinois, and specializes in a more artistic type of welding than Lamm, Jonathan Newell also has learned quite a bit about running a business in his last 14 years of owning JN Design, Grover Beach, Calif.
One of the secrets to his success is farming work out to welders based on the job his company is contracted to complete. His company focuses on the high-end custom bronze market, with the bulk of its products being combination cast and fabricated custom lighting, railings, gates, fountains, furniture, memorial plaques, and sculptures.
This is what got him interested in larger bronze jobs. To get leads and commissions, Newell travels all the way to the East Coast to tradeshows.
He also relies on referrals from those he completes projects for, such as the designers who represent the customers his company ultimately serves. His company employs sand cast and lost wax casting techniques, depending on the job, and uses silicon bronze that can be gas metal arc-welded and gas tungsten arc-welded.
Like Lamm, Newell sees putting the customer first as critical to his success. He said it's the customer-specific aspect of the work that makes his job interesting. And in working with the customers, Newell has found it beneficial to put together client-specific presentation portfolios.
He said he has 1, to 1, photos to choose from to make each portfolio specific for each customer he meets with. He also finds it important to ask the designers about the client before he meets with them to get a better feel for the situation ahead of time.
A 6-year-old company with 25 to 40 employees depending on the job, Bludworth Marine LLC has been up against some of the same struggles as the shops with 10 or fewer welders.
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