In the age where information and service providers such as Google and Facebook hold so much dominance in the marketplace, and outsourcing of manufacturing jobs to countries overseas is just a part of our everyday reality, I often wonder what the future has in store for companies like ours that still make tangible products. I am optimistic however and think the future of American manufacturers still shines brightly.
Since the beginning of the current economic downturn, I have been hearing media reports that call for reviving our nation's manufacturing practices. In fact, a radio show recently reported Vice President Biden's attendance at the reopening of GM facility in Wilmington, Delaware. I welcome such news.
As my company remains based in the U.S. here is my humble two cents for fellow manufacturers and entrepreneurs, or rather, manufacturers with the entrepreneurial spirit.
Dream Big, Start Small
Despite all the doubts that have been cast on American prosperity, I am still a firm believer in the American dream. I am a first generation immigrant from Taiwan. Fifteen years ago, I started my company with just one machine. I went door-to-door selling my products. You have to start somewhere.
Be Brave, Be Patient, Stay Focused
Even as the information technology helps us get connected with our partners and customers faster than ever ( but that does not necessarily mean easier), overnight success stories only happen rarely. You have to be brave and patient. It will take time to build your business and you cannot afford to lose sight of your goal.
Do Your HomeworkI cannot overemphasize the importance of research and development. Define the problem, study your market, and figure out the best way to deliver the solution. Sticking with your current success is important, but R&D must continue. I believe all manufactures should be entrepreneurs.
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