Denny's Daily Zinger: How a Small Business Was Kept Alive
David Frank, 53, came from a family that has manufactured paper boxes for three generations.
A love for boxes seems to be hardwired in his DNA.
In 1999, Frank bought a shuttered paper box factory and has kept it going in good times and truly lousy times.
How did he succeed? By sticking to a common-sense business philosophy and the courage to continually change his business model.
One of his ironclad principles: Investing in employee training. He spends $30,000 to train an employee. (This includes time and wasted materials).
A short sampling of David Frank's business philosophy:
- "If you don't train you can't expand."
- "When you're so small, there's only one way to go-up. All you need is a few good accounts and you're on your way."
- "You have to be willing to turn away business to stay in business."
- "As long as we have sales agreements in advance of equipment acquisition, I'm willing to invest."
Spend a few minutes with David Frank.
I guarantee you'll be glad you did.