091 | Bob Repovs | How to Overcome the Challenges of Managing a Large, Complex Business
Leaders Of Tomorrow Podcast
English - November 12, 2019 12:00 - 54 minutes - 78.6 MB - ★★★★★ - 3 ratingsEntrepreneurship Business Management becomingaleader christhomson howtobecomealeader leader leadership leadersoftomorrow studentworkspainting summermanagementprogram Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In today’s show, Chris interviews Bob Repovs, President & CEO, Samco Machinery. Bob shares how you can overcome some of the biggest challenges of managing a large, manufacturing business via effective communication, delegation, and diversification.
This show starts with Bob recalling his life before Student Works. Like many of us, as a teenager, Bob was also unsure about what he wanted to do with his life. Did his Student Works stint help him gain a clearer perspective? In this segment of the show, listeners will learn how real-world experience can help you, particularly in your formative years.
The next segment of the show is particularly interesting as Bob shares some great tips for effectively dealing with challenging clients. As a Student Works operator, Bob recalls how he had to take a client to court for non-payment of dues. This experience proved to be invaluable as Bob went on to deal with far more demanding clients throughout his career.
Next, Bob shares how he transitioned to his family business at Samco Machinery. Bob recalls how the opportunity to get involved in the ISO9000 certification process allowed him to learn the nuances of different business processes. When Bob started, Samco was much smaller. This required him to assume multiple roles and responsibilities. Over the years, under Bob’s stewardship, Samco has managed to evolve into a 200-person strong organization clocking annual sales above $40 million.
In the next segment of the show, Bob shares how to overcome the challenges of managing a large, complex manufacturing organization. Listeners will first learn the importance of building a dream team that can get the job done. But, should you, as a business leader trust your employees with complete and total autonomy? How do you achieve a fine balance between freedom and accountability?
Next, Bob shares how large manufacturing organizations can manage economy downturns. Arguably, compared to service-oriented organizations, it is far more difficult for a capital intensive manufacturing organization to survive a prolonged slowdown in demand. Bob shares some creative cost-savings measures that he resorts to in such situations.
Furthering our conversation on this topic, listeners will also learn how product and market diversification can help organizations survive difficult periods in the business. Intense competition and narrow margins are harsh realities that any business has to deal with. In this segment of the show, Bob discusses how Samco’s presence in varied sectors and multiple countries has helped ensure greater operational and financial predictability.
Towards the end of the show, Bob shares some excellent networking tips that will be useful for new and experienced entrepreneurs alike. Further, listeners will also learn how a structured life helps Bob combat work-related stress.
Tune in for some excellent nuggets!
Resources:
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