Industrial Growth Institute

Episode 46 - Stephen Sears with Tips on Maximizing Your Investment in Industrial Trade Associations

Episode 44 - Stephen Sears details how industrial manufacturers can extract maximum business value from trade associations
Summary
In this episode of the Industrial Growth Institute podcast, Ed Marsh and Stephen Sears discuss the importance of maximizing trade association memberships for industrial manufacturers.
They explore the multifaceted role of trade associations, the significance of networking, and the evolving value propositions that associations must offer to retain members.
The conversation explores various topics including:
the challenges of engaging different generations
the need for effective marketing strategies
the critical role of advocacy in navigating regulatory changes.
Stephen shares insights on how associations can adapt to the changing landscape and continue to provide value to their members. He sees value in professional development, grant opportunities, networking, and aggregating knowledge.
They discuss the importance of engagement in associations for career growth, the challenges of navigating multiple memberships, and the overlooked value of collaboration within the industry. The conversation also touches on the impact of AI, the future of trade associations, and the critical need for skilled labor in manufacturing.
Takeaways
Trade associations help industries do what they can't do alone.
Networking is a key benefit that members often overlook.
Engagement is essential for members to extract value from associations.
Associations must evolve their value propositions to remain relevant.
Face-to-face interactions are crucial for building relationships.
Marketing strategies in the industrial space need improvement.
Advocacy efforts are often unrecognized but vital for member protection.
Generational differences impact how members engage with associations.
Associations must adapt to technological changes and communication preferences.
The regulatory landscape is constantly changing, requiring proactive advocacy.
Engagement in trade associations can significantly enhance professional development.
Networking opportunities at association meetings can lead to job prospects.
Associations play a vital role in helping members navigate grant opportunities.
Younger professionals can gain valuable insights by participating in working groups.
Investing time in association activities is crucial for maximizing benefits.
Trade associations can help members understand industry trends and statistics.
Manufacturing careers are evolving and require adaptability and continuous learning.
AI can streamline processes but should not replace human expertise.
The future of trade associations may involve new technologies and approaches.
Collaboration within the industry can lead to better outcomes for all members.
Takeaway Quote from Stephen Sears
"They are your competitors 360 of the other days of the year, but for these five days, they're your colleagues."
Check out Stephen's website.
LinkedIn: Stephen Sears and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: @eifsindustrymembersassocia5665 and @EdMarsh
Show Transcript 
Chapters
00:00 Maximizing Trade Association Memberships 05:59 Networking and Member Engagement 12:00 Adapting to Generational Changes 17:51 Advocacy and Its Impact 24:07 The Future of Trade Associations 44:01 The Impact of Emissions and Urban Regulations 49:11 The Role of Associations in Grant Opportunities 56:19 Addressing Member Interests Beyond Core Focus 01:02:07 Career Opportunities in Modern Manufacturing 01:11:19 The Future of Trade Associations 01:19:47 The Overlooked Value of Trade Association Memberships
 
#TradeAssociations #IndustrialManufacturing #Networking #Advocacy #MembershipValue #ManufacturingMarketing #IndustrialMarketing #GenerationalChanges #RegulatoryIssues #IndustryInsights #TradeAssociation #ProfessionalDevelopment #Grants #TheFutureOfTradeAssciations #IndustryStatistics

Episode 45 - Jim Kraus on a Buyer Persona as a Single Source of Marketing and Sales Truth

Episode 45 - Jim Kraus on why a Killer Buyer Persona Improves Marketing and Sales
Summary
In this episode, Ed Marsh and Jim Kraus discuss the importance of understanding buyer personas and high consideration or complex buying decisions in the industrial manufacturing space.
They explore the need for updated buyer persona frameworks, the significance of empathy in marketing, and the impact of growing buying teams on decision-making.
Jim shares insights from his extensive experience in market research and emphasizes the importance of addressing buyer fears and concerns to facilitate better decision-making.
The conversation also highlights:
common mistakes companies make in developing buyer personas
the five rings of buying insight as a framework for effective buyer research
intricacies of understanding buyer insights
the application of buyer personas
a structured approach to translating insights into actionable messaging through workshops
They discuss the need for organizations to engage in direct conversations with recent buyers to gather unbiased information including direct quotes to enhance credibility and communication strategies. Finally they discuss the role of AI in analyzing buyer persona data is explored. Kraus concludes by highlighting the long-term value of investing in buyer personas for organizations looking to enhance their marketing and sales efforts.
Takeaways
Industrial manufacturers often hold misconceptions about their buyers.
Understanding buyer needs is crucial for effective marketing and sales.
Empathy is key in understanding what buyers are looking for.
Outcomes should focus on what buyers want to achieve, not just product features.
The buyer persona framework needs to be actionable and relevant.
Research should inform business decisions, not just exist for its own sake.
A well-crafted buyer persona can help preempt buyer fears and concerns.
Growing buying teams complicate the decision-making process.
Addressing buyer fears can position a company as a trusted advisor.
The five rings of buying insight provide a structured approach to understanding buyers.
Buyer personas should encompass both organizational and individual factors.
Identifying perceived barriers can differentiate your offerings.
Decision criteria vary across different roles in the buying committee.
The buyer's journey includes steps, information sources, and key influencers.
Direct interviews with recent buyers provide unbiased insights.
Quotes from buyers enhance the credibility of findings.
Buyer personas can be applied to various high-consideration purchases.
A structured messaging workshop can align team efforts around buyer needs.
Narrowing down insights to key themes helps in creating focused marketing strategies.
Interviews should be conducted without preconceived notions.
The interviews provide irrefutable insights into buyer decisions.
AI can efficiently analyze buyer persona data but should not replace human insights.
Investing in buyer personas eliminates marketing waste.
Understanding buyers deeply leads to better marketing strategies.
The investment in buyer personas pays off over the long term.
Companies should not guess about their buyers' needs.
Takeaway Quotes from Jim Kraus
"A buyer persona will help to align your entire organization around one source of buyer truth."
Check out Jim's website
LinkedIn: Jim Kraus and Ed Marsh
Twitter:  Ed Marsh
Instagram: Ed Marsh
YouTube: @BuyerPersonaInstitute and @EdMarsh
Show Transcript 
Chapters
00:00 Introduction to Buyer Research 05:50 The Importance of Buyer Persona Updates 12:26 The Engineering Process in Buyer Personas 20:51 Addressing Buyer Fears and Concerns 27:42 The Five Rings of Buying Insight 36:09 The Importance of Buyer Interviews 44:43 Applying Buyer Personas Beyond B2B 54:40 Leveraging Survey Research for Buyer Insights 01:00:00 Mastering Buyer Interviews: The Art of Listening 01:06:00 The Role of AI in Buyer Persona Development 01:18:04 The Long-Term Value of Buyer Personas
 
#BuyerPersona #BuyerPersonas #buyingjourney #BuyerResearch #MarketResearch #BuyerPersonaInstitute #Podcast #AdeleRevella #JimKraus #EdMarsh

Episode 44 - Dave Kurlan Talks Baseline Selling, Sales Training and Accountability

Episode 44 - Dave Kurlan on the Power of Baseball Analogies in Impactful Sales Training
Summary
In this episode of the Industrial Growth Institute podcast, Ed Marsh interviews sales legend Dave Kurlan, who shares his unconventional journey into sales, the importance of mentorship, and the lessons learned from early experiences.
Kurlan discusses the parallels between sales, baseball, and music, emphasizing the significance of efficiency and active listening in sales success. He also delves into the complexities of sales roles and the evolution of sales assessments through Objective Management Group, the company he founded.
They also discuss:
Dave's journey in writing about sales management
how he integrates faith, politics and sales analogies
the current dismal state of sales accountability
the necessity of coaching and role-playing
the evolution of sales training - the relationship between sales and marketing
Kurlan emphasizes the need for a holistic approach to sales methodology and process, the role of leadership in fostering a culture of accountability, and the impact of AI on sales practices.
Takeaways
Sales success often comes from unexpected beginnings.
Mentorship can significantly shape a salesperson's career.
Efficiency in selling is crucial for long-term success.
Understanding different sales environments is key to hiring.
Active listening skills are essential for effective sales coaching.
Sales assessments should focus on sales-specific competencies.
The journey of building a business can evolve over time.
Baseball analogies can provide valuable insights into sales.
Music training can enhance listening and questioning skills.
Sales training should be tailored to individual needs.
Dave's writing about sales management started as a blog.
Analogies help in understanding sales concepts.
Accountability is lacking in many sales teams.
Coaching should involve role-playing regularly.
Sales processes must be logical and practical.
Training should be ongoing and not a one-time event.
Leadership involvement in training is essential.
AI cannot replace human interaction in sales.
Investing in training leads to better sales outcomes.
Sales talent distribution means not all salespeople add equal value.
Marketing occurs before the first conversation; sales begins after.
Crappy salespeople drive buyers away, regardless of their stage in the journey.
Training and coaching are essential for raising sales expectations.
Role-playing is crucial for effective sales training.
Understanding the science of sales is key for executives.
Takeaway Quotes from Dave Kurlan
"Salespeople need to role play every day."
"AI cannot replace a salesperson having a conversation."
Check out Dave's website and the Baseline Selling book.
LinkedIn: Dave Kurlan and Ed Marsh
Twitter: Dave Kurlan and Ed Marsh
Instagram: Ed Marsh
YouTube: @KurlanAndAssociates and @EdMarsh
Show Transcript 
Chapters
00:00 Introduction to Sales Legend Dave Kurlan 02:04 The Unlikely Path to Sales Success 05:02 Lessons from Early Sales Experiences 08:16 Mentorship and Learning in Sales 12:48 The Importance of Sales Experience 14:19 Baseball: A Parallel to Sales 17:51 The Role of Music in Sales Skills 22:29 Identifying Sales Potential 26:40 The Complexity of Sales Roles 29:45 Founding the Objective Management Group 32:51 The Evolution of Sales Assessments 39:12 The Journey of Writing and Blogging 42:04 The Discipline of Writing and Its Importance 44:53 Exploring Faith and Sales Analogies 49:03 The State of Accountability in Sales 54:03 Coaching and Role-Playing in Sales 58:55 Integrating Sales Methodology and Process 01:06:10 The Evolution of Sales Training 01:12:12 The Role of Leadership in Sales Training 01:14:56 The Impact of AI on Sales 01:20:27 Sales vs. Marketing: Defining the Relationship 01:30:55 Future Sales Strategies and Executive Insights
 
Learn more about Objective Management Group Sales Candidate Assessments and Sales Rep Evaluations here
 
#SalesTraining #SalesManagement #SalesCoaching #DaveKurlan #EdMarsh #Podcast #SellingSkills #salesProcess #SalesMethodology #BaselineSelling #SandlerSales #SalesCandidateAssessment #SalesTesting #SalesHiring #SalesPerformance

Episode 43 - Ed Marsh Breaks Down Secular Changes in Impacting Industrial Sales and Marketing

Episode 43 - Industrial Sales and Marketing are Undergoing a Massive Change, and Ed Marsh explains why manufacturers need to adapt.
Summary
In this episode, Ed Marsh discusses the secular changes occurring in B2B buying and their implications for industrial marketing and sales.
He emphasizes the need for adaptation in response to gradual shifts in buyer behavior, driven by technological advancements, the internet, and the impact of COVID-19.
The conversation explores the evolution of marketing and sales, the changing dynamics of decision-making processes, and the challenges faced in digital marketing.
Ed advocates for a rethinking of marketing strategies and a transformation in sales approaches to meet the demands of today's buyers and ensure future success.
Takeaways
Secular changes in B2B buying require adaptation in marketing and sales.
Understanding the difference between cycles and secular trends is crucial.
The internet has fundamentally transformed how buyers seek information.
COVID-19 accelerated the adoption of digital sales and marketing technologies.
Decision-making in companies has shifted to committee-based processes.
Buyers are overwhelmed with content and prefer un-gated information.
Traditional SEO and content marketing strategies are becoming less effective.
Sales teams need to build relationships rather than just react to inquiries.
Investing in training and development for sales teams is essential.
Companies that adapt early will gain a competitive advantage.
Takeaway Quotes from Ed Marsh
"Waiting for buyers to find us is futile."
"Buyers are overwhelmed with content."
LinkedIn: Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: @EdMarsh
Show Transcript 
Chapters
00:00 Introduction to Secular Changes in B2B Buying 02:50 Understanding Cycles vs. Secular Trends 06:14 The Evolution of Marketing and Sales 09:08 The Impact of the Internet on Buyer Behavior 12:01 The Role of COVID and AI in Changing Sales Dynamics 14:54 The Shift in Decision-Making Processes 17:48 Challenges in Digital Marketing and SEO 21:05 Rethinking Marketing Strategies for Today's Buyers 24:11 Transforming Sales Approaches for Future Success 27:05 Conclusion and Call to Action for Adaptation
 
Learn More about these Tectonic Changes in Industrial Sales & Marketing
Download a Deep Dive  
Or
Download a Quick By the Numbers View
 
More on Changes in Content Marketing here
 
#BusinessCycle #B2BBuying #B2BSales #BuyingHabits #IndustrialMarketingAndSales #IndustrialMarketing #IndustrialSalesAndMarketing #SalesAdaptation #SalesTraining #CyclicalChanges #SecularChanges #DigitalMarketing #ContentCreation #ContentMarketing #LeadGeneration #DemandGeneration #AIContent #AIImpact #BuyerBehavior #DecisionMaking #MarketStrategies #SalesTransformataion

Episode 42 - 2024: Industrial Growth Institute Year in Review

A Year in Review - Industrial Growth Institute Podcast episodes from 2024
Episode 1 - Chris Fox, Video for Industrial Marketing Youtube & Audio
Episode 2 - Sean Hurd, Veterans in Sales YouTube & Audio
Episode 3 - Bob Apollo, Outcome-Centric Sales YouTube & Audio
Episode 4 - Markus Rimmele, Technical Service and Revenue YouTube & Audio
Episode 5 - Peter Caputa, Analytics YouTube & Audio
Episode 6 - Carole Mahoney, Buyer First Sales YouTube & Audio
Episode 7 - Terri Hoffman, Manufacturing Marketing YouTube & Audio
Episode 8 - Jeff Cross, Content Creation YouTube & Audio
Episode 9 - Mario Trafficante, Sales KPIs and Management YouTube & Audio
Episode 10 - Trista Morrison, Strategic Communications YouTube & Audio
Episode 11 - Scott MacKenzie, Podcasting YouTube & Audio
Episode 12 - Kathleen Booth, Community and Events YouTube & Audio
Episode 13 - Jon Selig, Humor in Sales YouTube & Audio
Episode 14 - John Panaccione, Veterans in Business YouTube & Audio
Episode 15 - Lisa Spadafora Thompson, Strategic Pricing YouTube & Audio
Episode 16 - Dustin Levy, Technical Sales YouTube & Audio
Episode 17 - Brisa Renteria, Hiring Top Sales Talent YouTube & Audio
Episode 18 - Franz-Josef Schrepf, Partnerships YouTube & Audio
Episode 19 - Ben Tagoe, Using Data to Improve Sales YouTube & Audio
Episode 20 - Jon Russo, Account Based Marketing YouTube & Audio
Episode 21 - Cece Kintner, Sales Operations YouTube & Audio
Episode 22 - Dan Ott, Intergenerational Digital Marketing YouTube & Audio
Episode 23 - Jim Blasingame, Solving for the Customer YouTube & Audio
Episode 24 - Rudy Scarito, Preparing Your Biz for Sale YouTube & Audio
Episode 25 - Adam Honig, Hating on CRM YouTube & Audio
Episode 26 - Douglas Burdett, Marketing & Sales Books YouTube & Audio
Episode 27 - Alyssa Gelbard, Executive Presence YouTube & Audio
Episode 28 - Vaughn Mordecai, Channel Sales YouTube & Audio
Episode 29 - Dan Allford & Johnny Tyler, YouTube for Industrial Marketing YouTube & Audio
Episode 30 - Amy Franko, Sales Strategy YouTube & Audio
Episode 31 - Al Rosenbaum, Value Propositions YouTube & Audio
Episode 32 - Jared Dillian, Just Start Writing! YouTube & Audio
Episode 33 - Jack Watson, Social Media for Hiring YouTube & Audio
Episode 34 - Chris Dunn, Trade Shows YouTube & Audio
Episode 35 - Patrick Hayes, Culture YouTube & Audio
Episode 36 - Samantha Gadenne, Partnerships YouTube & Audio
Episode 37 - Salim Awad, LinkedIn for Industrial Sales YouTube & Audio
Episode 38 - Kurt Palmer, Family Business YouTube & Audio
Episode 39 - Micki Vandeloo, Grant Strategy YouTube & Audio
Episode 40 - Mike Sibley, Strategic Finance YouTube & Audio
Episode 41 - David Anderson, AI in Industrial Purchasing YouTube & Audio 
#Podcast #IndustrialGrowthInstitute #EdMarsh #RevenueGrowth

Episode 41 - David Anderson on AI Technical Sales and Industrial Marketing to LLMs

Episode 41 - David Anderson on How Manufacturing Marketers Need to Handle AI and why Industrial Sales Reps May be Extinct
Summary
In this conversation, Ed Marsh speaks with Dr. David Anderson, an expert in machine learning and engineering design, about the transformative potential of AI in the engineering sector.
They discuss the importance of tacit and explicit knowledge in engineering, the role of automation in streamlining processes, and the implications for sales and marketing in an increasingly automated world.
David shares insights from his journey in founding Engora, a company focused on leveraging AI to enhance engineering efficiency and knowledge transfer. They explore:
the evolving landscape of industrial supply chains
role of latent knowledge
transformative potential of large language models (LLMs) in engineering
challenges of creating comprehensive ontologies
importance of context in information retrieval
lessons learned from startup development.
The conversation also delves into the future of 3D printing, the significance of information security in AI solutions, and the changing expectations of buyers in the industrial sector. David emphasizes the need for companies to adapt their marketing strategies to leverage AI effectively and the importance of providing comprehensive content to meet buyer needs.
Takeaways
Machine learning can significantly enhance engineering design processes.
Tacit knowledge is often unstructured and hard to capture.
Automation can eliminate repetitive tasks in engineering.
Sales and marketing roles may evolve due to automation.
LinkedIn is a powerful tool for startups to connect with decision-makers.
The boundary between tacit and explicit knowledge is constantly shifting.
Generative AI can handle ambiguity in natural language but may lack precision.
The ideal users of Engora's technology are early-stage engineers.
Knowledge transfer is crucial for effective engineering practices.
Understanding the conflict between AI and engineering precision is essential. Latent knowledge in industrial supply chains is crucial.
LLMs can help contextualize information for engineers.
Prototyping is essential but can lead to wasted efforts.
3D printing requires a rethink of traditional engineering principles.
Information security is a major concern with AI solutions.
Sales reps must understand engineering trade-offs to add value.
Marketing must shift towards comprehensive content creation.
Websites need to serve both users and AI effectively.
Companies should prepare for AI's impact on their operations.
Tacit knowledge is vital for effective AI prompt writing.
Takeaway Quotes from David Anderson
"We can help automate the sourcing process."
"The goals of GenAI and engineering are orthogonal."
"We want a future where rote work is automated."
Check out David's website and the Engora chatbot
LinkedIn: David Anderson and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: @EdMarsh
Show Transcript 
Chapters
00:00 Introduction to Machine Learning in Engineering 02:47 The Role of LinkedIn in Startup Growth 06:00 Understanding Tacit and Explicit Knowledge 08:52 The Vision for Automation in Engineering 12:01 Sales and Marketing in the Age of Automation 15:00 The Need for Efficient Knowledge Transfer 17:57 David's Journey to Founding Engora 20:54 The Evolution of Engora's Technology 23:57 Applications of Engora in Engineering 30:04 Understanding Machine Learning and Generative AI 33:04 The Conflict Between AI and Engineering Precision 39:00 Navigating Latent Knowledge in Industrial Supply Chains 41:57 The Role of LLMs in Engineering Knowledge 45:02 Learning from Mistakes in Startup Development 48:11 The Future of 3D Printing and Digital Fabrication 51:00 Addressing Information Security in AI Solutions 53:06 Building Trust with Sales Reps 56:02 The Shift in Marketing Strategies for AI 01:00:05 The Importance of Comprehensive Content 01:03:01 The Role of Websites in the AI Era 01:05:54 Preparing for the Future of AI in Industry 01:10:03 Tacit Knowledge and AI's Limitations 01:12:08 Recommendations for Understanding AI in Industry 01:15:02 The Future of Industrial Marketing and Sales
 
Is Technical Sales actually Sales?
Calling it technical sales may actually cause problems. It's typically not even really sales. More on the technical sales challenge here.
 
#AISalesEngineer #LLMMarketing #IndustrialMarketing #ManufacturingMarketing #MarketingForManufacturers #IndustrialSales #TechnicalSales #MarketingToEngineers #SellingToEngineers #B2BSales #ComplexSales #AI #LLM #Engora #TacitKnowledge #RoteTasks #HowEngineersBuy #ContentMarketing

Episode 40 - Mike Sibley on the Importance of Strategic Finance to Enhance Manufacturing Growth and Valuation

Episode 40 - Mike Sibley on the Importance of Strategic Finance to Enhance Manufacturing Growth and Valuation
Summary
Mike Sibley is a CPA and partner at James Moore & Co who specializes in manufacturing and distribution.
Mike brings a unique approach to accounting, which goes beyond traditional "number crunching" practices to include business consulting, workforce development, and the importance of revenue growth for valuation.
Mike shares insights on trends in automation, the role of marketing in accounting, and the significance of sales training for accountants. The conversation also touches on:
innovative business models
the impact of podcasting as a tool for client engagement
critical aspects of sales training
hiring the right candidates
the importance of accountability in business.
They explore how to evaluate sales performance, manage stress, and the role of strategic finance in driving revenue growth. Mike offers insights on the significance of understanding financial metrics, funding initiatives, and the potential of strategic acquisitions.
Throughout the conversation, they emphasize the need for a proactive approach to finance and operations, ensuring that businesses are well-equipped to navigate challenges and seize opportunities.
Takeaways
Accounting is more than just numbers; it's about storytelling.
Workforce development is a critical issue in manufacturing.
Valuation should consider operational efficiency and market conditions.
Marketing is essential for brand awareness and client engagement.
Sales training is often overlooked but crucial for success.
Innovative business models can enhance customer loyalty and profitability.
Podcasts can effectively deliver valuable content to clients.
Understanding client needs is key to providing effective solutions.
Revenue growth is a primary driver of business valuation.
Governance structures can provide accountability and strategic guidance.
Sales training is often overlooked but essential for success.
Hiring the right sales candidates can significantly impact ROI.
Accountability within teams fosters a culture of improvement.
Understanding financial metrics is crucial for strategic decision-making.
Debt can be a strategic tool when used wisely.
Regular financial reviews help identify inefficiencies.
Competitor analysis is key to staying ahead in the market.
Acquisitions can accelerate growth and market share.
Integrating finance with operations enhances overall business performance.
Takeaway Quotes from Mike Sibley
"I'm not just a bean counter."
"Numbers tell a story."
"You lose revenue, you're losing opportunities."
Check out Mike's website
LinkedIn: Mike Sibley and Ed Marsh
Twitter: Mike Sibley and Ed Marsh
Instagram: JamesMooreAndCo and Ed Marsh
YouTube: @JamesMooreAndCo and @EdMarsh
Show Transcript 
Chapters
00:00 Introduction to Mike Sibley and His Expertise 02:31 Mike's Journey from Vermont to Florida 04:21 The Intersection of Accounting and Manufacturing 06:53 Trends in Workforce Development and Automation 09:46 Valuation and Transition Planning in Manufacturing 12:24 The Role of Accountants in Business Operations 14:38 Marketing Perspectives from an Accountant's View 17:32 Sales Training and Its Impact on Accounting Firms 20:27 Innovative Business Models in Manufacturing 23:29 The Power of Podcasting for Client Engagement 29:35 Revenue Growth as a Key Driver of Valuation 32:36 Governance and Accountability in Growing Companies 35:38 The Importance of Sales Training in Today's Market 40:41 Hiring the Right Sales Candidates 46:38 Books for Strategic Financial Understanding 48:26 Accountability in Business 58:46 Understanding Financial Metrics 01:04:30 Regular Financial Reviews 01:07:26 Understanding Competitors 01:11:15 Strategic Acquisitions 01:14:39 Integrating Finance with Operations
 
Strategic Finance Payoff
A financially health business can invest in essential business functions of marketing and sales, including the important, required sales infrastructure to drive predictable results.
 
A great place to start is understanding how an integrated, engineered, system approach to revenue growth works. 
 
Learn more about ORE™ (Overall Revenue Effectiveness) here.
 
#StrategicBusinessFinance #StrategicFinance #Accounting #ManufacturingFinance #KeyFinancialMetrics #NumberCruncher #Podcast #MikeSibley #RevenueGrowth #BusinessValuation #FinancialManagement #IndustrialManufacturing #BusinessFinance

Episode 39 - Micki Vandeloo on Business Grants to Fund Revenue Growth Investments

Episode 39 - Micki Vandeloo on Business Grants to Fund Revenue Growth Investments
Summary
Most industrial manufacturers are leaving money on the table!
That's the experienced voice of Micki Vandaloo, president of Lakeview Consulting, chatting with host Ed Marsh for this week's episode.
Micki speaks in depth about the often-overlooked opportunities for manufacturers to secure grant funding - where to find them, nuances of successful applications, considerations in complying with requirements, and grant "strategy" vs. just submitting opportunistic applications.
Micki shares her engineering and manufacturing bonafides and experience in grant writing, emphasizing the importance of understanding the grant application process, the misconceptions surrounding grants, and the critical role of leadership in pursuing funding.
The conversation also highlights the need for a consistent strategy in seeking grants, the resources available through Lakeview Consulting, and the broader impact of manufacturing on communities and the economy that fuels Micki's passion.
Money being fungible, it's important for companies to think of grants not just as additive, but basic. Grant money can often be used for investments in training, hiring, acquiring new assets that will extend capability, building programs, products and space, and more. And money allocated for those, that can be replaced with grants, are then available for other purposes.
Micki encourages manufacturers to explore grant opportunities actively and not to leave potential funding on the table.
Takeaways
Grants can significantly support manufacturing growth.
Understanding the nuances of grant applications is crucial.
Leadership buy-in is essential for successful grant applications.
Many manufacturers are unaware of available grants.
Smaller grants can provide valuable experience for companies new to grants.
Grants are taxable revenue and come with specific requirements.
Education and training programs are vital for workforce development.
Community involvement and local programs can enhance grant opportunities.
A consistent strategy for seeking grants can lead to better outcomes.
Manufacturing plays a key role in the economy and community development.
Takeaway Quotes from Micki Vandaloo
"Stop leaving money on the table."
"Grants can fund your success."
"You can stack grants one on top of another."
Check out Micki's website
LinkedIn: Micki Vandeloo and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube:  @EdMarsh
Show Transcript 
Chapters
00:00 Introduction to Grant Opportunities in Manufacturing
07:33 Micki's Background and Experience
14:22 Understanding Business Grants: Misconceptions and Realities
22:49 The Role of Leadership in Grant Applications
29:49 Building a Consistent Grant Strategy
35:43 Navigating the Grant Application Process
41:18 Lakeview Consulting: Services and Resources
48:20 The Importance of Education and Training in Manufacturing
56:05 Celebrating Manufacturing Day and Community Impact
01:01:48 Philosophical Commitment to American Manufacturing
01:09:35 Final Thoughts on Pursuing Grants
 
Revenue growth is getting harder as two secular changes impact business. Buying is changing as risk aversion and buying team size grow. Buyers delay talking with sales, and often select the top name on their short list anyway. 
 
And marketing is changing as SEO and content marketing impact decay quickly.
 
That means we need to rethink marketing and improve sales. That's the premise of Overall Revenue Effectiveness™ - a framework for revenue growth for manufacturers. 
 
GRANTS can be an important tool to fund important initiatives and non-traditional activities (or other requirements to free up funds for these) to help manufacturers leverage the opportunities.
 
Learn more about ORE™ (Overall Revenue Effectiveness) here.
 
#BusinessGrants #HowToApplyForAGrant #MEP #ManufacturingExtensionPartnership #GrantsForBusinessGrowth #TrainingGrants #GrantWriter #GrantApplications #WorkforceTraining #SalesTraining #Grants #Manufacturing #MadeInAmerica #Funding #LakeviewConsulting #GrantWriting #IndustrialGrowth #IndustrialSales #IndustrialMarketing #FinancialSupport #BusinessDevelopment #TrainingPrograms #EconomicDevelopment