You need to know the "numbers" in your business. Every business owner needs to know that they're making enough to pay their employees, make and deliver their products, and grow the business. That's just good business.

Non-financial metrics are important, too. A successful business has to focus on quality, safety, customer service, on-time delivery, retention, and even culture. Because if your culture is dialed in, the numbers will prove it.

We take a deep look at the different numbers that are important for a manufacturing business to know in this part 2 episode of MakingSparks with Mike Payne.

Also, listen to the end for a BIG announcement.

– Matthew Nix

• [1:00] Recapping part I with Mike Payne
• [3:13] Everything comes down to numbers
• [13:59] How to learn the numbers
• [17:49] How to decide what's important
• [26:38] When should you hire someone?
• [35:20] Introducing "By the Numbers"

• ProFab Alliance

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Mike Payne has spent the last 20+ years deeply entrenched in the M&A process with dozens of companies throughout Oklahoma. Early in his career, he realized he loved the world of manufacturing. He also learned that he enjoyed operating a business. He was just waiting for the right opportunity to unfold.

Then it happened: Six years ago, Mike was able to purchase Hill Manufacturing. In this episode of MakingSparks, we chat with Mike about his work in the M&A space, why he made acquisitions close to home, and what led to his passion for manufacturing.

– Matthew Nix

• [1:10] Chit-chatting with Mike Payne
• [5:26] Spark of Knowledge: Strategic Planning
• [6:39] Casey's dad joke
• [7:29] Mike's background in manufacturing
• [9:32] Mike's work in the M&A space
• [12:30] Why start with acquisitions close to home? [17:54] Get NetSuite by Oracle
• [19:11] Why Mike decided to run a business
• [26:02] Why build relationships within the industry?

• Warren Buffett's 2024 Annual Letter To Shareholders
• Get NetSuite by Oracle
• The Six Types of Working Genius

• www.MakingChips.com
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How can leadership remain connected to what's happening on the shop floor? At Nix, we've found a creative way to bridge a gap that many businesses experience. We've implemented a program that allows our front line to address problems and propose solutions so that their everyday real-world problems are being fixed. Dakota Hunt and Jack Henry Hagan return to share how this program has positively impacted them and the business.

– Matthew Nix

• [1:03] Netsuite by Oracle's CFO's Ultimate KPI Checklist
• [4:56] Casey's dad joke (stolen from his five-year-old)
• [5:41] The essential part(s) of an improvement program
• [15:48] Spark of Knowledge: Business development
• [16:59] Why communication is critical for success
• [19:37] The most rewarding part of this industry
• [21:55] The importance of a culture of respect

• Netsuite by Oracle's CFO's Ultimate KPI Checklist

• www.MakingChips.com
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How do we recruit more young talent to fabrication? How do we navigate rapid growth balanced with training and development? How do we help develop young talent into our future leaders? These are just a few questions we wrestle with in this episode of MakingSparks with special guests Dakota Hunt and Jack Henry Hagan.

– Matthew Nix

• [0:48] Join the AMT online community
• [2:14] Introducing Jack Henry Hagan & Dakta Hunt
• [3:47] Casey's dad joke
• [4:16] Dakota's background in fabrication
• [8:27] Jack Henry's background in fabrication
• [11:24] Sparks of Knowledge: CRMs
• [13:45] Why fabrication is rewarding work
• [16:28] Dos and don'ts for bringing in young talent
• [21:38] How to handle rapid growth

• Join the AMT online community
• ProFab Alliance

• www.MakingChips.com
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BWXT Mount Vernon produces components for naval nuclear reactors, used in submarines and aircraft carriers. Their sprawling facility is home to CNC machine tools and sophisticated welding and heat-treating equipment. In this episode of MakingSparks, General Manager Nate Foote shares more about their commitment to processes, their recruiting practices, and why the work they do is incredibly important.

– Casey

• [1:09] Learn more about AMT
• [2:38] Introducing special guest Nate Foote
• [7:57] Casey's dad joke
• [9:31] BWXT's team-building process
• [13:54] Their program with a local high school
• [15:39] Spark of Knowledge: Strategic Planning
• [17:28] The recruiting strategies they leverage
• [26:38] Get Oracle's KPI Checklist
• [29:42] BWXT's involvement in niche markets
• [31:18] Their commitment to processes
• [35:38] What's keeping Nate up at night
• [36:35] What Nate's most excited about

• Learn more about AMT
• Get Oracle's KPI Checklist
• Connect with Nate on LinkedIn
• BWXT Mount Vernon

• www.MakingChips.com
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What are the pros and cons of plasma cutters vs. water jets vs. lasers? How does cutting with nitrogen differ from cutting with oxygen? How is technology driving innovation in fabrication? R.J. Reed and Brendon DiVincenzo join us in this episode of MakingSparks to cover all things lasers and fabrication. Because if you're not MakingSparks with the right tool, you're not making money. BAM!

– Nick

• [0:19] FREE IMTS 2024 Exhibitor Workshop
• [2:17] Nick's dad joke
• [2:43] Learn more about R.J. Reed and Brendon DiVincenzo
• [9:45] The definition of precision
• [12:16] The history of lasers in machining
• [19:28] Netsuite by Oracle's Ultimate KPI Checklist
• [21:29] Plasma versus water jet versus laser cutting
• [25:55] Cutting with nitrogen versus oxygen
• [31:05] How technology is driving innovation
• [38:48] Are people still G-code programming?

• FREE IMTS 2024 Exhibitor Workshop
• When the Machine Stopped
• Connect with Brendon DiVincenzo
• Connect with R.J. Reed
• Netsuite by Oracle's Ultimate KPI Checklist
• "The Goal" by Eliyahu M Goldratt
• FABTECH 2024: October 15-17, 2024

• www.MakingChips.com
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Every family business that's growing and expanding runs into some challenges. From navigating tough conversations with family to determining a centralized versus decentralized model, there are numerous things to consider. Joe Patterson's family business overcame the challenges that came their way and expanded globally.

However, they had lofty goals for the business and ultimately needed more capital to realize those goals. Joe shares how they expanded their family business and why they sold the majority of their shares to private equity in this episode of MakingSparks. Listen to learn how you can help your family business make sparks, grow, and make money.

• [1:20] Palo Alto Networks Zero Trust OT Security
• [5:03] Matthew's dad joke
• [6:20] Learn more about Joe Patterson
• [10:50] Why Joe initially left the family business
• [13:30] Sparks of Knowledge: Host "tryouts"
• [14:33] How to have the conversation with family
• [17:05] How Flanders scaled the family business
• [20:51] Netsuite by Oracle KPI Checklist
• [22:23] The difference between offering services and products
• [24:40] A centralized versus decentralized model
• [31:35] Why the family decided to sell the business
• [40:08] How to join the AMT Community
• [41:00] How to scale your family business

• Palo Alto Zero Trust OT Security
• Netsuite by Oracle KPI Checklist
• Join the AMT Community by reaching out to [email protected] or going to AMT Online
• Connect with Joe Patterson on LinkedIn
• Flanders

• www.MakingChips.com
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Communication with your family? How do you foster open communication in difficult conversations?

Running a family business is full of unique challenges—and successes—that many other businesses don't have to think about. But navigating those challenges doesn't have to be difficult. Tad Dickel returns in this episode of MakingSparks to cover it all.

– Matthew Nix

If you missed part 1, go back and listen HERE.

• [0:56] Palo Alto Zero Trust OT Security
• [4:38] Casey's dad joke
• [5:30] Common challenges family businesses face
• [7:28] Spark of Knowledge: Social media
• [8:40] How to have hard conversations
• [10:07] Tad's thoughts on family governance
• [16:50] The purpose of the family council
• [19:49] Palo Alto Zero Trust OT Security
• [21:24] Open communication is the goal
• [26:08] When a small business should start
• [31:10] Think about the future now
• [32:30] Thomasnet programs

• Connect with Tad Dickel on LinkedIn
• T.A. Dickel Group
• Tad's podcast
• Palo Alto Zero Trust OT Security
• The Family Business Consulting Group
• The Legacy Journey by Dave Ramsay
• Thomasnet Programs

• www.MakingChips.com
• On Facebook
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Nix Companies is a fifth-generation family business in an industry that's predominantly privately held and family-owned. Family-owned businesses are the fabric of our economy. Today's guest on MakingSparks, Tad Dickel, is a Leadership & Strategy Consultant with a special interest in family-owned businesses. He helps them with everything from governance to succession planning.

Tad shares why having difficult conversations with family early can make a profound impact on the long-term generational success of the business. He also covers how to have those conversations. Don't miss this one!

– Matthew Nix

• [0:38] Netsuite by Oracle
• [2:42] How Tad Dickel helps family-owned businesses
• [5:39] Why work with a Leadership & Strategy Consultant
• [9:16] Challenges that family businesses face
• [12:42] Spark of Knowledge: The Ideal Team Player
• [13:57] Casey's dad joke
• [14:25] Tad's hope for this episode
• [17:43] Palo Alto Zero Trust OT Security
• [21:33] Using a Venn diagram to think through family dynamics

• Connect with Tad Dickel on LinkedIn
• T.A. Dickel Group
• Netsuite by Oracle: CFO's Ultimate KPI Checklist
• The Ideal Team Player by Patrick M. Lencioni
• Palo Alto Zero Trust OT Security

• www.MakingChips.com
• On Facebook
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What is FabTech? Why should anyone in welding, fabrication, metal forming, or finishing attend FabTech? They not only hold seminars and have booths and exhibitors to visit. You won't only learn about trends in technology and meet with potential suppliers.

Most importantly, you'll be able to network. In this episode of MakingSparks recorded live at FabTech 2023, we interview a couple of people we met at FabTech whose careers were positively impacted because they showed up. Don't miss it.

– Matthew Nix

• [1:16] Why you should go to FabTech
• [2:35] Netsuite by Oracle
• [4:06] Networking opportunities at FabTech
• [6:13] Casey's dad joke
• [7:04] FabTech will help rejuvenate you
• [11:38] What stood out at FabTech 2023
• [13:38] Palo Alto Networks Industrial OT Security
• [16:27] Spark of Knowledge: Use a CRM
• [17:49] Stephanie Hoffman with the AWS
• [22:39] Learn more about Weld.com
• [27:32] Check out Thomas™ services

• FabTech
• Netsuite by Oracle
• Palo Alto Networks Industrial OT Security
• Stepanie Hoffman on LinkedIn and Instagram
• Chris Ewing on LinkedIn
• Metal Shop Masters
• Weld.com
• Weld.com on YouTube
• Check out Thomas™ services

• www.MakingChips.com
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