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|Subject: Re: It works this way in real life too.||Date: 4/22/2013 8:18 AM|
|Author: tim443||Number: 421174 of 457444|
If you want to earn more you'll have to find a machine that pays more.
My statement stands.
Desert (in Canada too) Dave
Chatting with SIL yesterday, he is all excited because he finally completed his acquisition of a small Alberta company that had 14 employees. The whole thing got loaded into a rail car and is on its way to his warehouse in Nova Scotia. He has warehouse staff and shipping people there so he will be able to run it with just two (possibly a third later) additional staff to add to his current staff of I think around 35-40. I'm not the business guy but that sounds like pretty good synergy to me? At current sales rate the addition will pay for itself in four years but he says he can increase sales significantly as he can give the product a lot of exposure that it didn't have with the elderly couple that owned and ran it.
This was his first acquisition of another operating company and he says he learned a lot of lessons that would have been useful before he started. Major lesson learned is that when dealing with elderly people forced to give up their life's work it is good to make sure everything is up front before making the buy decision. He had a lot of problems with seller’s remorse and trying to change things as well as the two lawyers getting at loggerheads with each other.
He pays his staff well above minimum wage because he rarely has to hire and train new people and they don't steal from him (his words). Apparently he used to have high turnover and lots of product losses when he first started out but his wife suggested some changes.
Somewhat amusing the vast majority of his staff now are women over 40 who returned to the workforce after raising their family. He says they are smart, appreciate the job and provide solutions before describing problems when they call him. He mostly stays well away from the warehouse as they do get a bit catty with each other sometimes and that is the warehouse manager's problem. }};-D
Note: The physical product is made in the US while the "thoughts" that make it special came from the female side of the couple in Alberta.
Any <It’s ok if you disagree with me. I can’t force you to be right> mouse
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