Small Business Trends Radio

Ask The Guest: Manufacturing Is Getting Tough

Small Biz AdviceDecember 2, 2008By

Ask The Guest A Question!

Do you have a question for our upcoming radio show guest?

David Crain, Director of Entrepreneurial Services, Magnet, is joining us on Small Business Trends Radio on Tuesday, December 9th at 1:30PM EST to discuss why challenges have become greater for manufacturing startups.

Manufacturing requires a highly skilled workforce; capital intensive equipment; customers demanding ever-changing products and focus on internal procedures to stay competitive. David discusses the challenges, several ways to increase your odds for success and one shortcut many entrepreneurs are using to avoid startup issues all together.

If you have a question for David, we’ll try to present it to him during the live show. The deadline for your questions is Monday, December 8th at noon Eastern time.

Ask away below in the comments section!

3 Responses to “Ask The Guest: Manufacturing Is Getting Tough”

  1. Bianca Aquino Says:

    Hi David,

    Can bootstrappers dive into a manufacturing industry?

    – Bianca

  2. Martin Lindeskog Says:

    When will the leaders of the auto industry understand the business cycles and when will they start to manufacture small electrical cars? I read that an Indian billionaire will start producing electrical cars soon. Ford and GM are thinking of selling out Volvo and SAAB in order to cut their losses.

    How about following the Purchasing Managers Index?

  3. Dave Crain Says:

    @Bianca

    Bootstrapping means lots of things to lots of different people, but is typically taken to mean getting your business up and running without outside investment and developing early revenue streams to fund growth.

    So the challenge would be to identify potential revenue streams you could generate before your product hits the market.

    One idea could be to sell services associated with your product niche. This has the added benefit that your services clients could be potential customers for your product.

    In general though, while bootstrapping is a great approach for entrepreneurs in general, I think the opportunity to use it in the manufacturing space is limited.

 
Web Site by out:think