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Last Update: Friday April 19, 2019

Key Idea: Prepare For Hard Times

The good business owners make running a business look easy but don't be fooled.  It's harder than it looks.   There are always struggles that require cash and determination.

Key Question:

A: 

Dale says if you want to run a business, be sure to have a lot of money, desire and commitment.  He also said to look at starting and growing a business as a  journey, not a destination.

Nicole Miller said that running the business is harder with $100 million in revenue than it was with $1 million.  Her partner Bud Konheim said, "if you want to know the end game of Nicole Miller, come to my funeral." He has no intention of retiring and this is true for many entrepreneurs. 

We see getting up and going to work every day as the ultimate journey with no end. No cruise around the world or golf game can bring us the satisfaction derived  from running a business. We believe this is true because of the complexity of it all. You have the hard side which is all about numbers and the soft side which is all about people. You have to balance many balls in the air and smile at the same time!

Think about it

What do you do when things are tough?  Who are your mentors?  Is the bank there for you when you need cash during a slow time?  Are you on a journey or do you see and end to your life at the helm?

Clip from: Texas Nameplate

WINNERS OF THE MALCOLM BALDRIGE AWARD... TWICE!

Dallas, Texas: Dale Crownover took Texas Nameplate from being just another print shop to become the first small business to be given the Malcolm Baldrige National Quality Award. You will find their nameplates are on virtually everything. They print those specialized labels that out last the item to which it is attached. And because of quality controls, this group is the international supplier to the world's largest companies.

When he went to Washington to receive the Baldrige, the other two winners, Boeing and Solar Turbines, and all DC bureaucrats listened in awe; this man talked about the essence of quality, family and this nation's charter to achieve and to always do better.

We can all learn from Dale and his people. Yet, they did not stop working at it;  and six years later, they received the award again!
 
You will quickly see that this is an extraordinary work force. When we first taped this episode of the show, nobody including Dale had a college degree and some employees had just received their high school diploma. Notwithstanding, here you learn how they make world-class products and reap plenty of profits.

Oh yes, today, Dale and others have earned a college degree.

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Texas Nameplate

Dale Crownover, Owner

1900 E. Ervay
Dallas, TX 75215
2144288341

Visit our web site: http://www.nameplate.com

Office: 2144288341

Business Classification:
Manufacturing

Year Founded:

Prepare For Hard Times

ROY: Be a good leader. Be a good leader. Don't just be an old demander, `You go do this now.' Be a good leader to these people. If they do a good job, compliment these people on this job. If you make more money, give these people a little piece of the pie. Raise the salaries a little bit.

HATTIE: In other words, don't be greedy.

ROY: No, ma'am. No, ma'am. Spread it around a little bit and let people have a little -- like it's a little bit of theirs. Let them feel at home, it's theirs. Let them work for this. And the more we make, you know, the more everybody gets. And I've said all the time, `share it.'

HATTIE: Right.

ROY: Don't just keep it inside of you or say, `Well, it's in the books.' Share it.

HATTIE: What advice would you give someone who's going to start a business?

DALE: I hope you have a lot of money. I hope you have a lot of savings. Hope you have a lot of desire, lot of commitment. Hope you can recognize that things don't always work the way that you write them out. I mean, course we know that, but in business, it's reality. Even at 50 years, there's big decisions that my father and I even make to this day that you're always concerned about the repercussions of it. To be successful, it is a journey, and it's a journey that you'll never get to the finish line, and that's even what we're doing now. Each day is really a journey. If you ever think that you're at the finish line, you have real bad problems, 'cause you'll never get there. You'll never get there. So it is a journey. Every day's a journey. We tell our people, "It's a journey, and if we ever do get to what we consider the finish line, we're gonna go find another one, and we're just gonna keep on." If we were to win the Baldrige, that's usually the ultimate, but we're gonna go for another one. We're gonna keep driving ourself, our people on this journey.

HATTIE: You've realized Texas Nameplate is a very special place to be.

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