Today we are continuing our series on why manufacturing companies fail. Since we are in the business of helping to close them when they are in trouble, as well as help them expand when they are doing well, we’ve got more than a few things to say on the subject. With almost twenty years in the industry, we’ve seen certain patterns develop which we share in the hopes of helping manufacturers avoid certain pitfalls and maintain profitability.
I’ll start by giving you a statistic that may shock you.
Over 95% of the manufacturing companies that we auction off do NOT have web sites.
I realize that in most cases this is a generational thing. You may be of a vintage that did not experience computers in school. Perhaps you reason that you’ve done business without a web site for all these years and you did just fine. Why do you need one now? The truth of the matter is that you DO need to have a web presence if you want to continue to be in business. Recent surveys indicate that approximately 85% of business owners turn to Internet search engines when they need service providers for their business. That means that you may not even have a prayer of getting 85% of the business that’s out there because potential customers can’t find you, and may not even know you exist!
Have you ever wondered why the machine shop that has only been open a few years and run by someone half your age with half of your wisdom and experience seems to be doing so much better than you? People that are sub-contracting work to that young guy were able to find him quickly and easily on the web. Another factor to consider is that web sites can be great equalizers! A professionally developed web site can make your company look just as big or bigger than the competition. They can make you look just as big as a machine shop that is double your size and sales volume.
Change is hard folks, but here’s the thing. Ignoring the cataclysmic shift in the way our world communicates now verses two decades ago can kill your business quicker than almost anything else. Here’s another little tidbit. Industrial auctioneers like myself actually aim their direct marketing at machine shops that don’t have web sites. Why? Again, 95% of the plants we close don’t have web sites. We know that there is a high likelihood that our marketing will reach someone that needs our services!
Web sites don’t have to cost a fortune. Some of the best I’ve seen cost under $3,500.00. There are “do it yourself” sites that cost even less, however if you are new to the Internet this may not be the best choice.
When choosing a web development company, choose a company that understands manufacturing and has completed work for manufacturing companies.
The developer should have links to the sites they’ve created on their web site. Their own web site should be visually appealing, well thought out and lacking in errors. After all a website is like a resume of sorts; a reflection of who you are, the service you provide and your overall conscientiousness.
Contact Info@MfgWebSolution.com to get started. We are happy to announce an addition to our Accelerated Buy Sell, Inc. family of companies: MfgWebSolutions. We love to help those in the manufacturing community build their businesses and experience long-term success. Those companies are some of our best and dearest customers.
Change can be scary; especially when it seems like the entire world is changing around you. It is! And it is imperative to your company’s survival that you change with it. One of my favorite quotes by Eleanor Roosevelt seems appropriate to close with, “You gain strength, courage and confidence by every experience in which you really stop to look fear in the face…you must do the thing you think you cannot do.”
About the author:
Fran Brunelle is an industrial auctioneer with almost 20 years experience, a manufacturing business broker, licensed real estate broker specializing in industrial properties, a real estate auctioneer, certified appraiser and author. Fran has established several corporations that provide services to the manufacturing industry. The “Accelerated Group of Companies” provides tools and services to help manufacturers grow and exit strategies to maximize dollars when they are ready to retire or sell their manufacturing business. The group of companies that Fran Brunelle has established includes:
www.AcceleratedBuySell.com – Provides Online Industrial Auction Services, Used Equipment Auctions, Capital Equipment Auctions, Plant Liquidations, Industrial Plant Cleanout Services, Used Machinery Location Services, Certified Machine Tool and Equipment Appraisals, and more.
www.AcceleratedMfgBrokers.com – Specializes in Manufacturing Business Brokerage and Mergers and Acquisitions. We help manufacturers develop exit strategies to maximize retirement dollars, and successful manufacturers expand through acquisition of other manufacturing companies, product lines and customer lists. Manufacturing Companies for sale throughout the United States are listed on this site.
www.AcceleratedRE.com – Provides Industrial Real Estate Brokerage Services, Online Real Estate Auctions, Sealed Bid Real Estate Auctions and complete industrial facility cleanout services.
www.IgniteMfg.com – Provides funding for products made in the USA, and engineering/manufacturing educational needs through Crowd Funding.
www.MfgWebSolutions.com – Provides web development and social media services for manufacturers at under-market rates.
Fran Brunelle is a contributing author to:
blog.AcceleratedBuySell.com - A site that provides the latest manufacturing news, statistics and opinion. It also provides information on how to grow a manufacturing business, and what to do if you are a manufacturing company that needs to close.
MFGWebSolutions.com/blog - Provides the latest information on social media and web development for manufacturers. It gives manufacturers tips and tricks for boosting their web presence.