Wyoming Machine is a woman-owned family business that takes great pride in superior quality, efficiency and capability. Founded in 1974, the company specializes in precision sheet metal fabrication including, CNC punching, laser cutting, forming, welding, and machining. Its clients represent a large cross-section of metal fabrication requirements — from medical equipment to heavy machinery manufacturers. Wyoming Machine operates with 55 employees in a 55,000-square-foot facility located in Stacy, MN. Lori Tapani and her sister Traci Tapani are co-presidents.
Wyoming Machine had weathered the 2008 recession and was looking to capitalize on its improved position in the marketplace. The company’s sales numbers, while strong, had remained relatively stagnant over the previous few years and there was desire to grow. To achieve their goal of growing the business by 50%, The Tapanis recognized they needed to develop a long-term strategic plan, and share it across the organization to align leadership, management, and employees.
Wyoming Machine reached out to Enterprise Minnesota for help. Mary Connor one of Enterprise Minnesota’s business growth advisors, proposed the company use our Strategy Management methodology. Strategy Management provides a holistic assessment of a company’s current state by digging deeply into business critical topics. Connor worked with Wyoming Machine’s staff to assess 14 areas of the business. With this data, Connor helped the company lay out key strategic performance benchmarks:
- Articulating and demonstrating the company’s vision, mission and values;
- Developing a team of accountable leaders;
- Improving and sustaining critical processes within the company’s operation;
- Recruiting and developing a workforce that is the “envy of the competition”;
- Define target markets, and develop a strategic marketing plan to reach customers within them.
To reach new target markets and customers, Wyoming Machine also took part in Enterprise Minnesota’s Proactive Marketing for Manufacturers program that helps companies look at their own business from a customer’s point of view by researching both their competition and their customers. As a result, Wyoming Machine developed a clear understanding of how to deliver value based on what is important to their customers, how they differ from their competition, and how to pinpoint new target markets.
As a direct result of Strategy Management and Proactive Marketing, Wyoming Machine expects to realize a $975,000 increase in new and retained sales and a cost savings of $350,000 by the end of 2015, they plan to invest over $500,000 in new plant equipment, and they will create 12 new jobs.
“The consultants we have worked with at Enterprise Minnesota have been fantastic. Mary Connor was really knowledgeable and knew the Strategy Management process. The process itself was so useful and we have utilized what we learned there on other projects and initiatives during the past few years.”