Making Chips Podcast for Manufacturing Leaders

This is NOT another goal-setting podcast episode. You know, the kind that explains how to effectively set goals for the year… this one is about WHY you need to set goals. No tips and tricks. No newest approaches and apps. We're going to talk about the impact goal-setting can have on your life and business. Jim and Nick come along for the discussion because this is something important to me, personally. We're going to cover eight reasons annual goals will benefit you, so be sure to listen. BAM! Segments [3:57] This episode's topic [6:19 ] Manufacturing News: Industry Week Article: Taking action, future flexibility [11:56] Closure of the preceding year comes from annual planning [13:15] Goal-setting enables you to Identify opportunities [15:09 ] Prioritization flows from goal setting [15:39] Goal-setting enables you to develop an attitude of gratitude [22:26] You can focus on what is important throughout the year when you set goals [23:04] Goals enable you to say "NO" to things [23:45] You can tell if you have won at the end of the year if you set goals [27:04] Annual goals set you up for 3 to 5 years Resources mentioned on this episode Get The Boring Bar Newsletter - Text CHIPS to 38470 to subscribe! MT Forecast Conference Previous podcast episode about goal setting BOOK: Traction Two episodes about the Entrepreneur Operating System: here and there Connect With MakingChips www.MakingChips.com On Facebook On LinkedIn On Instagram On Twitter On YouTube

In our previous conversation with Jeff Taylor (episode 292) we introduced the idea of ESOPS (Employee Stock Ownership Plans) as a way to give true ownership to your manufacturing business employees. We invited Jeff back for this episode to tell us more of the journey he's been on with ESOPs and discovered that the outcome was more than he could have imagined. Going back to the beginning of the process for Jeff, he has spent his adult life working for others and adding value to their companies. But he never received any sort of extended value or equity in the company. His experience led him to think about how he could develop cultures and attitudes among working teams that enabled them to truly have ownership in the company (in terms of mindset AND equity). That's when the idea of ESOPs (Employee Stock Ownership Plans) came onto his radar. This episode explores the topic in greater detail and will open your mind to how your manufacturing business could be organized to leave a legacy through your employees. Segments [1:13] Thank YOU for being such loyal listeners [3:45] Manufacturing news: NASA "dart" mission [7:35] Resuming our previous conversation with Jeff Taylor about ESOPs [15:10] The conscious decisions and eventual growth that make and ESOP reality [27:49] Nobody set out to sell, but they wanted to be ready for the best situation [35:51] The timeline and summary and how the company is different now [37:52] Jeff's view of the ESOP in the continuum of possibilities, pros and cons Resources mentioned on this episode Get The Boring Bar Newsletter - Text CHIPS to 38470 to subscribe! Visit our Sponsor Xometry Connect with Jeff on LinkedIn NASA "DART" mission BOOK: Progressive Partnerships BOOK: Name of the Wind BOOK: Hitler's Monsters Crafts Technology - the company Jeff served and that sold to Hyperion Technologies Previous MakingChips episode (292) featuring Jeff Connect With MakingChips www.MakingChips.com On Facebook On LinkedIn On Instagram On Twitter On YouTube

The "Great Resignation" as it's been called, has created a wide variety of circumstances that have impacted the American workforce. 55% of workers making under $30K/year say they will be looking for a new job soon. Has this impacted manufacturing? If so, what can we do as manufacturing leaders to mitigate the impact? This episode focuses on what leaders can and should be doing to build the kind of loyalty that will sustain their companies and provide a culture and experience for team members that is "sticky," keeping them around for years to come. BAM! Segments [1:20] The Great Resignation: How it impacts manufacturing [6:22] Ripples across the country from this Great Resignation [12:50] Employment news: 55% making under $30K/year expect to look for a new job [16:20] If you lose people on your team, how can it affect your business? [18:45] Why do people leave your company? Why do they stay? [22:06] Hiring process: ways to win candidates and be smart in your process [26:32] How you can improve your retention rate [32:10] Tech company trends and how it might spread Resources mentioned on this episode Get The Boring Bar Newsletter - Text CHIPS to 38470 to subscribe! Visit our Sponsor Xometry Eden Business Concepts (gave Jason the inspiration for this episode) Bob Dylan song "Hurricane" BOOK: Reforming Marriage by Douglas Wilson 55% of people expect to find a new job soon Apple TV show: Ted Lasso Connect With MakingChips www.MakingChips.com On Facebook On LinkedIn On Instagram On Twitter On YouTube

There is a paradigm shift happening in the industry: many skilled machinists are retiring. As these long-term skilled machinists are leaving, they're leaving with intellectual legacy knowledge that's irreplaceable. Do procurement people sourcing machining parts know what the processes and procedures look like? Do they know the difference between a fabricated, turned, or machined, or five-axis part? What can we do as owners to mitigate the problem or offer solutions? We dive into the discussion in this episode of Making Chips! Segments [1:23] The challenges we face with retiring machinists [4:30] The definition of intellectual property [6:28] What is keeping us awake at night? [14:22] Boosting automation in manufacturing [18:18] A discussion of intellectual property Resources mentioned on this episode Get The Boring Bar Newsletter - Text CHIPS to 38470 to subscribe! What is Intellectual Property? Report Outlines Difficulty in Boosting Automation in Manufacturing The Future of Manufacturing is Automated Production Connect With MakingChips www.MakingChips.com On Facebook On LinkedIn On Instagram On Twitter On YouTube

Finding Solutions to the Supply Chain Chaos, #293 What is the root cause of the supply chain crisis? How can manufacturing businesses mitigate those risks and find realistic solutions that work in the short and long term? Tom Hilaris—the President & CEO of Ergoseal—joins us to share the three things they focus on: risk mitigation, communication, and culture. In this episode of Making Chips we offer real, practical solutions your business can implement to overcome the supply chain chaos. Because—after all—if you're not making chips, you're not making money! BAM! – Jason Segments [1:10] Material lead times and pricing [5:10] What's happening at Carr Machine & Tool [7:07] Manufacturing news related to supply chain issues [14:39] Learn more about our guest—Tom Hilaris [17:16] Step #1: Risk Mitigation [19:46] Managing pricing with redundancy of sourcing [22:58] Step #2: Communicating with your customers is imperative [29:12] Elmhurst University Supply Chain Masters Program [32:15] Step #3: A great culture improves outcomes Resources mentioned on this episode Get The Boring Bar Newsletter - Text CHIPS to 38470 to subscribe! Connect with Tom Hilaris on LinkedIn Clean Energy Faces its Own Supply Chain Crisis What Everyone Gets Wrong About the Never-Ending COVID-19 Supply Chain Crisis Growing your Manufacturing Business Through Acquisitions with Tom Hilaris Connect With MakingChips www.MakingChips.com On Facebook On LinkedIn On Instagram On Twitter On YouTube

What is an employee stock ownership plan ESOP? How does it work? How can it transform the buy-in of your team and lead to revenue growth? Jeff Taylor—the President and CEO of Crafts Technology—implemented an ESOP. Listen to this episode to hear about the impact it had on his business—and figure out whether or not it's right for yours. Employee buy-in can lead to profitability which can lead to Making Chips! BAM! – Jim Segments [4:49] What's happening at ZENGERS and Carr Machine & Tool [8:20] Disclaimer about implementing an ESOP [10:54] Welcome Jeff Taylor to Making Chips! [12:13] What is an employee stock ownership plan ESOP? [13:45] How Jeff got into manufacturing [20:15] What is Craft's technology? [21:49] Choosing to create an ESOP [30:00] Who should consider an ESOP? [35:05] Pensions, profit-sharing, and ESOPs [39:45] What kind of return does an ESOP get? [45:36] Are you handing over control to your team? Resources mentioned on this episode Get The Boring Bar Newsletter - Text CHIPS to 38470 to subscribe! Crafts Technology Connect with Jeff on LinkedIn Connect With MakingChips www.MakingChips.com On Facebook On LinkedIn On Instagram On Twitter On YouTube

What does your hiring process look like? Do you even have a hiring process in place? In this episode of Making Chips, we walk through what each of our processes look like and share some useful strategies that anyone can implement. A streamlined process leads to better hires which leads to Making Chips! BAM! – Jason! What are your tips and tricks for the hiring process? Let us know! Send an email to info@MakingChips.com! Segments [0:30] Check out ProShop ERP for manufacturing software! [3:35] What's happening in our lives and businesses [6:54] Manufacturing news: A discussion on composite materials [11:44] Shoutout to listeners who've left reviews! [14:26] Step #1: It's all about the setup [19:10] Step #2: The careers landing page [22:43] Accelerate your digital transformation with Xometry [24:31] Step #3: Screen your candidates Resources mentioned on this episode Get The Boring Bar Newsletter - Text CHIPS to 38470 to subscribe! 6 of the Most Exciting Trends In Composite Materials Today Join the ZENGERS Team! LinkedIn Recruiter Connect With MakingChips www.MakingChips.com On Facebook On LinkedIn On Instagram On Twitter On YouTube

What factors should you consider when forecasting? What questions do you need to ask to determine your next steps? Who gets to make those decisions? We walk you through some common questions to ask yourself—and your company—about your business. We'll also cover Miles and Snow's Typology of Defender, Prospector, Analyzer, and Reactor to see how your type impacts your decision-making process. Learn a great process to forecast and set goals in this episode of Making Chips! Now is the time to look ahead! BAM! – Nick If you have a great methodology for forecasting, let us know! Shoot us an email at info@MakingChips.com! Segments [0:32] Check out ProShop ERP for manufacturing software! [3:16] How future proof is your business? [5:25] What we're happy about right now [9:34] Discovering the Keys to U.S. Manufacturing Recovery [14:23] What factors should you consider when forecasting? [17:47] Accelerate your digital transformation with Xometry [21:39] The Miles and Snow's Typology of Defender, Prospector, Analyzer, and Reactor [24:56] Who makes the forecast in your company? Resources mentioned on this episode Get The Boring Bar Newsletter - Text CHIPS to 38470 to subscribe! Discovering the Keys to U.S. Manufacturing Recovery Miles and Snow's Typology of Defender, Prospector, Analyzer, and Reactor BOOK: Humanocrisy Connect With MakingChips www.MakingChips.com On Facebook On LinkedIn On Instagram On Twitter On YouTube

Nick jokes that I have a recession obsession—and it's true. Recessions are painful. I want to make the experience less painful when a recession comes around again. So in this down-to-earth episode of Making Chips, I'll share the common causes of most recessions and 8 tips you can use to prepare yourself—and your business—for a recession. Preparedness is key to helping your business survive and thrive. Because after all, if you're not making chips, you're not making money. BAM! – Jim Segments [0:43] Check out ProShop ERP for manufacturing software! [2:53] Shoutout to everyone involved with the research project with Xometry [5:11] The reasons why Carr Machine & Tool is thriving [9:38] Manufacturing News: Hertz bought 100,000 Teslas [12:18] What's new in Jason and Nick's worlds [14:43] Accelerate your digital transformation with Xometry [15:53] Be smart with the buying decisions that you make [21:55] Learn about the common causes of recessions [24:39] 8 tIps to prepare yourself for a recession [28:28] Learn about Amper Technologies machine monitoring systems Resources mentioned on this episode Get The Boring Bar Newsletter - Text CHIPS to 38470 to subscribe! How to Prepare for a Recession: 8 Tips You Can Start Now Connect With MakingChips www.MakingChips.com On Facebook On LinkedIn On Instagram On Twitter On YouTube

In round three with Titan Gilroy, we talk about why Titan decided to move his entire business from California to Texas. Was it a smooth transition? Was he able to retain his entire team? Titan also shares more of the "why" behind his business and his passion for serving his audience. Titan continues to go above and beyond the expected as he grows his academy. Listen to learn more. BAM! Segments [0:52] Why Titan moved his business to Texas [11:28] Solving people's problems = success [18:28] Understand your audience + tell your story [26:50] Titan's transition from regret to changing lives [29:34] Where did Titan's "Boom!" come from Get The Boring Bar Newsletter - Text CHIPS to 38470 to subscribe! Connect With MakingChips www.MakingChips.com On Facebook On LinkedIn On Instagram On Twitter On YouTube