Making Chips Podcast for Manufacturing Leaders Introducing Machine Shop Growth: Scaling Success with Kirk Phelps and Mike Fritz, 455
Ever wonder why some machine shops experience rapid, exponential growth while others hit a ceiling?
In this episode of MakingChips, we dive into the strategies behind this growth with Kirk Phelps and Mike Fritz—two seasoned veterans in the machine shop industry who have cracked the code on scaling businesses. With a focus on mergers and acquisitions (M&A), they’ve successfully expanded their operations, acquiring multiple shops and driving growth in ways that many shop owners overlook.
Kirk and Mike share their proven approach to growth, where strategic acquisitions are just the beginning. They dive into the importance of cultivating a growth culture that influences every facet of the business—sales, marketing, leadership, and operations. This mindset shift is crucial for shops looking to not only increase revenue but also improve efficiency and team empowerment.
What makes this episode even more exciting is that Kirk and Mike are bringing their expertise to the MakingChips family! Their new podcast, Machine Shop Growth, is now part of our lineup. Tune in to get actionable insights on how to scale your shop, improve leadership, and make smarter decisions in sales and marketing.
If you’re ready to unlock growth in your machine shop, this episode—and their podcast—will provide the tools and strategies you need to elevate your business to the next level. Don't miss out!
Segments- (0:00) Introduction to the episode and guest introductions
- (0:30) Why you need to invest in ProShop ERP
- (2:43) Introducing Mike Fritz, Kirk Phelps, and Machine Shop Growth
- (7:40) The importance of understanding your unique selling proposition (USP)
- (9:44) The two-sided approach of the Machine Shop Growth podcast
- (12:00) The three legs to the stool of growth
- (13:50) Discussing dormant customers and how to win back business
- (17:27) The value of quarterly customer success meetings and the difference it makes
- (19:17) Content marketing strategies that resonate with customers
- (21:34) Why you need to check out the MakingSparks podcast
- (27:48) Building a growth culture within your business
- (29:43) The importance of vertical integration and pricing, quality, and lead times
- (41:00) The synergy of podcast collaborations within the industry
- (42:53) Why you should complete the Modern Machine Shop Top Shops Survey
- Connect with Mike Fritz
- Connect with Kirk Phelps
- Machine Shop Growth Podcast
- Never Split the Difference
- Mike Fritz on Machine Shop Mastery (Part 1 and Part 2)
- Kirk Phelps on Machine Shop Mastery
- Mike Fritz on Buy the Numbers
- The Modern Machine Shop Top Shops Survey