There’s a high cost to being too busy to get work done. By Randy Westlund I  was consulting for the owners of a company recently. They’d worked hard last year. They did a record number of jobs. They even had to hire two installers and a welder to get it all done. But at the end [...]

By Kathryn J. Maisto, MFC Whether your business is merchandising, servicing or manufacturing in the marine canvas industry, owners of small businesses often share the same primary concerns: how to keep busy in the off-season and how to effectively hire, train and retain quality employees without breaking the bank. But knowing the warning signs of [...]

The Outdoor Fabric Products Association of New Zealand (OFPANZ) will hold its 2019 Annual Conference at the Napier War Memorial Conference Center in Hawke's Bay, New Zealand, on July 25-27. The conference will bring together a diverse range of speakers and workshops, offering a variety of educational, social and professional networking opportunities, including the annual [...]

By David Huntington Marketing is a critical component in the success of all businesses, and marine fabrication is no different. You may be booked weeks in advance, but even established shops should include marketing in their annual business plan to continue to build “brand equity”—making your brand valuable to the customer. Strong brand equity improves [...]

The Leadership Development Committee of the Industrial Fabrics Association International (IFAI) is now seeking candidates for positions on its Board of Directors and Division Advisory Boards. The current 1st Vice Chairman Kathy Schaefer, IFM (Glawe Tent and Awning Co.) is Chairman-elect and will automatically assume the duties of the Chairman of the Board in October. [...]

There are common processes that are a part of every business. These include marketing, sales, estimating, quoting, work orders, scheduling, production, delivery, invoicing and reporting. Whether small or large, every business needs to consider how these tasks flow together in order to effectively deliver its products or services. Streamlining your shop requires you to identify [...]

Last December’s Tax Cuts and Jobs Act (TCJA) not only slashed tax rates, it also enacted rules that allow businesses to treat as an expense and immediately write off more—including 100 percent temporary expensing for certain assets. This means adding needed equipment, vehicles or even a new shop building is now a lot more affordable. [...]

How to find affordable, professional help when you need it. While most owners of small- and medium-size businesses know the details of their companies intimately, there are often highly technical matters of law, accounting, management and marketing that are best handled by outside experts. Attorneys, accountants, and management and marketing advisers have specialized knowledge about [...]

Cash flow—the amount of money flowing into and out of your shop—is an easy concept to understand, yet not always well managed. Not every owner is aware of the impact skillful cash management has on net income, probably because the importance of managing revenue is far easier to recognize in some types of businesses than [...]

No matter where in the world we run our businesses, we aspire to be successful, profitable and happy. We have either started the business from nothing, purchased an existing enterprise or taken the reins of the family business. Often, we begin with limited skills, have minimal formal industry training and largely “learn by our mistakes.” [...]