This article appeared in the September 2018 issue of MiMfg Magazine. Read the full issue and find past issues online.
A little honesty can go a long way in keeping a company successful year-after-year. As manufacturers look toward the future, questions arise.
- Is our business sustainable?
- How can we improve operations?
- Are we adequately reducing risk?
- Is our brand attractive to next generation job seekers?
- What happens when current leaders look to retire?
As your business looks to implement a long-term strategy, risk management experts recommend an internal assessment and a little honesty can go a long way in preparing the brand for whatever comes next.
“Manufacturers looking to strategize 3-5 years out and beyond need to be honest with themselves about their goals and what they want the business to accomplish,” said Dennis Theis, a certified value growth advisor, CPA and principal with the Lansing- based risk management firm Maner Costerisan. “The choices you make now could impact team members, shareholders, customers, suppliers and your local community for years.”
Maner Costerisan’s dedicated team works to assist manufacturers — one of the firm’s primary clients — in assessing their strengths and weaknesses to help them prepare for and meet their goals. In addition to long-term risk management, the firm specializes in financial consultation, strategic planning, cyber security, succession planning and estate planning.
“Whether you need a little help or a lot of help getting your proverbial ducks in a row, we’re here to help facilitate that process,” explained Theis. “Nobody knows your business better than you and our team can use your existing knowledge to move you in the right direction.”
By sitting down and having conversations with reliable long-term financial planning experts, manufacturers can walk away with strategies for success and the processes to properly implement them.
“Manufacturing is easily my favorite segment of our clientele,” said Theis. “I’m always amazed by the products being created in communities across our state. Talking to people who make things is fun and our team puts 100 percent of ourselves into getting clients where they want to go. When you help a manufacturer, you are helping a lot more people than you might think.”
Firms like Maner have a vested interest in the success of small-to-mid-sized manufacturers throughout Michigan. As a thought-leader, the information, networking and planning solutions available to your brand through these resources can make the difference between your business going far and reaching its full potential.
As Theis pointed out, “you can’t be in this field without a desire to help others. It’s about being a problem-solver and figuring out what needs to be done to get a business from Point A to Point Z. We have that commitment and want to help you achieve your dreams.”
Maner Costerisan is an MMA Premium Associate Member and has been an MMA member company since October 1976. Visit online: www.manercpa.com.