148: Why Your Manufacturing Business Should Be Boring with Marc Bowers, Executive Director of St. Louis Makes

Manufacturing Happy Hour · 8 Aug 2023 · 52m

What this episode covers

Marc Bowers, Executive Director of St. Louis Makes, explains why manufacturing businesses should be boring, advocating for predictable cash flow and deep operational knowledge over high-tech hype. He details the process of acquiring or taking over small-to-mid-sized manufacturers (under $30M revenue), emphasizing a 100-day period to understand financials and shop floor realities before pursuing adjacent growth opportunities. Bowers also discusses the resurgence of old-school entrepreneurship in St. Louis, the importance of trade education, and his personal philosophy of living an interesting life through global travel and gap years.

Other shows on the same ground, closest first.

  • The Manufacturing Executive · 38m

    Demystifying the Buying and Selling of a Manufacturing Business w/ Mike Payne

    Mike Payne, owner of Hill Manufacturing & Fabrication and host of the 'Buy the Numbers' podcast, discusses the realities of buying and selling manufacturing businesses. He explains that while many machinists dream of ownership, the process is daunting due to a lack of financial literacy and fear of the unknown. Payne advises sellers to focus on growing Seller's Discretionary Earnings (SDE) and building a self-sufficient business to maximize valuation multiples, rather than just upgrading equipment. He also outlines his strategy for scaling through acquisitions, targeting tired but profitable shops to inject operational improvements.

  • The Manufacturing Executive · 43m

    8 Silent Business Killers For Manufacturers w/ Steve Blue

    Steve Blue, CEO of Miller Ingenuity, outlines eight silent business killers that threaten manufacturing companies, drawing from his experience leading an international high-tech manufacturer. He details specific operational failures, including CEO complacency, suppressed conflict in meetings, and the stagnation of innovation processes. Blue also highlights the dangers of sales teams becoming too close to customers, retaining toxic employees, ignoring factory cost controls, avoiding international markets, and failing to manage rising healthcare expenses.

  • Growing a Profitable Manufacturing Business Without Outside Investors w/ Kyle Ewing

    Kyle Ewing, founder and CEO of TerraSlate, explains how he bootstrapped the waterproof paper company to over $40 million in revenue without outside investors by enforcing strict prepayment policies and mastering cold calling. He details the operational discipline of holding two months of core capital to survive disruptions and paying vendors early to secure favorable treatment during supply chain crises. Ewing also describes his intentional culture-building strategy, including comprehensive onboarding and life insurance benefits, to attract and retain high-performing employees in a non-glamorous industry.

  • How I Built This · 49m

    Advice Line with Katlin Smith of Simple Mills

    Katlin Smith, founder and CEO of Simple Mills, joins Guy Raz to answer questions from three founders about scaling physical product businesses. She advises Scott of Upcycle Foods on adapting recipes for contract manufacturers, Tim of Grumpy Dad Sauce Company on the financial risks of going 'all-in,' and Marissa of Sweet Paws on focused marketing strategies for their silicone pet products. Smith shares her own journey from kitchen experiments to a brand sold in nearly 30,000 stores, recently acquired by Flowers Foods for nearly $800 million.

  • Making It · 1h 11m

    410: Now You’re Just A Weirdo!

    Jimmy Diresta, Bob Clagett, and David Picciuto discuss recent life changes, with David detailing the acquisition of a factory in Arkansas with partners Howard and Jordan to support Etsy sellers like 2 Avocados. David also recounts the physically demanding restoration of a 10-foot obelisk tombstone with Wade Fowler of the Millennial Stone Cleaner, while Bob describes building speaker stands with a unique veneer-wrapped foam core and Jimmy reflects on downsizing his business to create personal margin.

The summary, chapters and topics are generated from the episode’s audio by this directory, not written by Manufacturing Happy Hour. The episode itself belongs to its publisher.