Do More with Less: The Five Strategies used by Successful SMB Manufacturers
A common issue facing small and medium-sized business (SMB) manufacturers today is how to increase revenue and grow their business without significantly adding staff. With larger firms able to compete by drawing upon greater financial resources, and often times able to simply apply more resources--including employees, equipment, contractors, and vendors to new initiatives--it leaves the SMB manufacturer at a distinct disadvantage. Most entrepreneurial or start-up manufacturers seek to grow within their means, avoiding the temptation of leveraging venture funding at the risk of losing control of their business. However, to successfully remain independent and grow organically, manufacturers must institute a lean business model for their industry that can maximize utilization and minimize overhead costs.