Page 9 - Demo

Training & Education
Making Money
Continued from page 6
Essentially, cash flow is a metric relative to time. You can be prof- itable and have a good ROS, but still have a negative cash flow due to delayed payment for your goods and services. Managing cash flow is critical to a success- ful business enterprise.
Essentially, as a manufacturer you exist to do three things in business every day:
• You provide a quality prod- uct. This is not a competitive opportunity. You must produce (and have the earned reputation in providing) a quality product on every order. If you don’t, there will be no opportunity to con- tinue in your market. Of course, mistakes happen. How you deal with them to satisfy the customer is the important part. You should do whatever it takes to make the customer happy.
A comment about price re- ductions: Don’t do it. If your customer is not happy with the final product and you offer some money off the price, they will still not be happy. They will still point out the error to every visi- tor to their house. Do whatever it takes to make them happy every time.
• You provide reasonable pric- ing. This is also not much of a competitive opportunity. You do not need to be the cheapest pro- vider. In fact, you should strive not to become a commodity pro- ducer. Someone can always do it less expensively than you can. You should market your com- pany as a producer of custom, high-end products that will en- hance the beauty of any jobsite or home and should justify a rea- sonable price.
Pricing of your products is ul- timately determined by your cus- tomer’s perception of value and availability. It has little to do with the cost of your production. More on that in future articles.
• You provide timely availabil- ity (aka customer service). This is a competitive opportunity. If you provide a quality product at reasonable prices, what can set you apart from your competition is speed. If all other things are equal, most customers will buy from the company that can be the fastest and most reliable.
But, having said all that, your business system must be set to make a profit, or you will not stay in business. In The Goal, Dr. Goldratt states it this way:
“The goal of a company should be to make more money now and in the future.”
Your system should be orga- nized and managed to assure that you will be profitable every year and it should maintain the culture that you will always be seeking continuous improvement. You should never be satisfied.
For more information on how to make more money now and in the future, contact Ed Hill at Synchronous Solutions, 704-560- 1536, www.synchronoussolutions .com .
Hall of Fame inductee Erica Hussey receives the award with ISFA President Augie Chavez (left) and ISFA Executive Director Amy Miller (right).
Fabricator of the Year 2019 winner ROCKinteriors – Laura Grandlienard and Omar Salazar, flanked by Augie Chavez (left) and Amy Miller (right).
Jessica McNaughton accepts the Associate of the Year Award for Caragreen, with ISFA Executive Director Amy Miller (left) and ISFA President Augie Chavez (right).
What lies behind you and what lies in front of you, pales in comparison to what lies inside of you.
— Ralph Waldo Emerson
Slippery rock Gazette
January 2020|9 ISFA Announces Annual Awards
Erica Hussey of J.C.W. Countertops Inducted into ISFA Hall of Fame
The International Surface Fabricators Association (ISFA) announced the winners of its annual awards at the association’s recent annual meeting and conference in con- ference in Scottsdale, Arizona. The ISFA awards are chosen by association members, and given to those in the industry that stand out as the very best.
Past ISFA Board Member Erica Hussey, of J.C.W. Countertops in Woburn, Massachusetts, was inducted into the ISFA Hall of Fame, joining a long list of es- teemed industry professionals. The Hall of Fame Award is given to the individual who has, in the course of his/her career, made significant contributions to the decorative surfacing industry, and has demonstrated leadership and commitment to the ideals of ISFA.
Hussey is a second generation owner of a 35-year-old fabrica- tion business, proud to have been among the first in New England to fabricate DuPont Corian. From a young age, she took to the busi- ness sweeping floors and learning fabrication and sales techniques. Today, Hussey leads the business with a focus on the future and em- bracing green surfaces, while con- tinuing to excel in solid surface fabrication with an emphasis on commercial work. She has served ISFA through numerous Board of Director positions including the roles of Treasurer and Secretary, and she has also hosted events at her shop. Hussey is committed to the industry, continuous im- provement, and she is dedicated to ISFA.
The other honored winners are:
The Fabricator of the Year Award was given to ROCKin’teriors, a world-class fabricator of a variety of hard surfacing products located in Raleigh, North Carolina. This is the second time the company has won the award. The Fabricator of the Year is awarded to an individ- ual of a fabricator member com- pany that in the past year has best exemplified the ISFA ideals of quality, innovation, character and exemplary service to ISFA and/or
the decorative surfacing industry, with overall excellence.
ROCKin’teriors continues to push the envelope on qual- ity, craftsmanship and service within the surface industry. Laura Grandlienard has diversified her business to cover the spectrum from high-end residential and custom builder work, to ventilated and direct adhere facades. The company excels across both resi- dential and commercial work and no job, no matter the difficulty or
technicality, scares this company. The Associate of the Year
Award is given to an associate member company that in the past year has best exemplified the role of servicing the needs of fabri- cator member companies, and who has best supported ISFA in all activities. This year’s winner is Caragreen, which exemplifies professional prowess, innova- tion and leadership in surfacing. Please turn to page 22