Creating A Company You Can Sell One Day | Lean Built - Manufacturing Freedom E53

Andrew and Jay come back from IMTS with plenty on their minds. They talk about salespeople who want to solve your problems vs. ones who just want to make a sale, the pros and cons of using products from new companies, getting up and close with machines, knowing what problem a particular machine you're considering actually solves, ending choice paralysis, and more.

Jay and Andrew check in from IMTS.

As Jay and Andrew prepare to go to IMTS 2024, they talk trade show tricks and tips. How do you approach events like this? How do you make the most of them for your company and your own personal growth? When should you take pictures? How should you treat competitors? Is it better to be honest with a salesperson if you're not interested in buying something? They talk everything from comfortable footwear to staying hydrated to seeing friends to how to schedule your time for maximum benefit.

Andrew and Jay discuss several key principles this week that can help your business grow, including:The Bullet Tells the Truth: It doesn't matter how well something works in theory; it must work in practice.Avoid Delusional Leadership: Understand the real workings and needs of your company.AI as Homework: Using AI can be beneficial if you use it wisely, much like looking at someone else's homework.Customer Alignment: Recognize that your business goals won't align with every customer, and that's sometimes okay.Exploring Other Shops: Visiting other businesses can provide valuable insights into different operational methods.Keep Vendors Close: There are advantages to having your vendors geographically near your business.And there's much more. Hey, if you spot us at IMTS 2024, please come over and say hello!

Andrew and Jay continue their discussion of what kind of 5-axis machine should Andrew buy and how to think ahead in making big decisions. Then they shift gears into the art of crafting a mission statement that doesn't just gather dust on a plaque. What makes a mission statement not just good, but galvanizing? What is a good mission statement is even meant to accomplish?  Finally, they discuss the "dark side" of lean methodology, when it begins to consume your life outside the shop.

Join Jay and Andrew as they dive deep into the challenges of using Fusion, the nuances of fair use in copyright law, and the art of dressing to impress in the business world (it's actually a thing!). We're picking up where we left off from our future discussion on Andrew's journey in scaling up his business and investing in new equipment. As we do, we'll explore why sometimes staying in your lane can be the most strategic move for growth.

Andrew is at a crossroads, weighing the decision to expand or relocate his shop, along with the potential purchase of a 5-axis machine. In this episode, Jay helps Andrew navigate the complexities of these big decisions. They delve into how a firm "no" on one major issue brought Andrew much-needed clarity. They explore the emotional investment required when thinking about the future. They talk a lot about what kind of machine Andrew should actually buy. And more. There's plenty to learn as they discuss the challenges and rewards of making big decisions in business.Here’s the link for cornhole tournament Jay mentions near the end of the episode!

Andrew and Jay talk about automation (Jay's buying another robot!), solving unexpected space problems, how to not be myopic about the future, and more.

Andrew and Jay talk about the necessity of vacation, why math SHOULD be (somewhat) emotional, known cost versus unknown upside, upscaling so you can do a job versus getting a job and then upscaling, bringing remote workers in, and things you can be doing right now to create a company with real value, the kind of value you can sell (even if you're not planning to do so for years or ever).

Join Jay and Andrew as they delve into their deep-seated skepticism towards multipurpose products, discuss why some cost-cutting measures can be counterproductive, and explore the concept of (imagining) scaling their business tenfold to uncover hidden bottlenecks. They also examine the importance of hiring individuals who elevate the team, the strategic use of loss leaders, the fine line between effective and off-putting advertising, and the right time to attend trade shows.