Machine Tools & Metal Working Blog Blog

Machine Tools & Metal Working Blog

The Machine Tools & Metal Working Blog is the place for conversation and discussion about metal cutting, tools & fixturing, metal forming, grinding, industrial machine control and anything else related to the metalworking industry. Here, you'll find everything from application ideas, to news and industry trends, to hot topics and cutting edge innovations.
Previous in Blog: Are You Concurrent?   Next in Blog: Keeping Up in a Downturn
Close

Comments Format:






Change Mode
Close

Subscribe to Discussion:

CR4 allows you to "subscribe" to a discussion
so that you can be notified of new comments to
the discussion via email.

Close

Rating Vote:







Add Vote
12 comments
Rate Comments: Nested

What Are the Best Businesses to be In?

Posted November 28, 2008 8:51 AM

It is difficult to keep focused on anything right now except the financial crisis. Even the normally optimistic president of the American Machine Tool Distributor Association (AMTDA) thinks a downturn is inevitable. But he also points out that at least two areas of the manufacturing sector — those related to energy and medicine — are holding firm. So, are there some reasons for optimism amid the gloom? Are you seeing any other signs of resilience out there in the market?

The preceding article is a "sneak peek" from Machine Tools & Metal Working, a newsletter from GlobalSpec. To stay up-to-date and informed on industry trends, products, and technologies, subscribe to Machine Tools & Metal Working today.

Reply

Interested in this topic? By joining CR4 you can "subscribe" to
this discussion and receive notification when new comments are added.

Good Answers:

These comments received enough positive votes to make them "good answers".

"Almost" Good Answers:

Check out these comments that don't yet have enough votes to be "official" good answers and, if you agree with them, vote them!
phoenix911
Guru
Hobbies - CNC - New Member Hobbies - DIY Welding - New Member Engineering Fields - Electromechanical Engineering - New Member

Join Date: Aug 2007
Posts: 23647
Good Answers: 420
#1

Re: What Are the Best Businesses to be In?

11/28/2008 11:10 AM

little off subject, but right now, anything to do with repossession or collection. ,

or a floundering insurance or banking institution

__________________
 “ When people get what they want, they are often surprised when they get what they deserve " - James Wood
Reply Score 1 for Good Answer
No more "Almost" Good Answers.
2
Milo
Guru

Join Date: Jul 2006
Location: "Dancing over the abyss."
Posts: 4884
Good Answers: 243
#2

Re: What Are the Best Businesses to be In?

11/28/2008 8:27 PM

I love the lets chase the "hot industry of the week" thinking of the chattering class.

What ever happened to "To thine own self be true?"

If you are a one crop monoculture shop, why would you think that you wouldn't feel a downturn in your single served industry?

Shops that serve a wide variety of different industries are scheduling overtime.

Its not a single market, its an optimum mix of customers that gives a shop resiliency.

The boys that thought ethanol was all the rage last year are currently suffering a "one crop" hangover.

Binge to binge? I don't think so.

milo

__________________
 People say between two opposed opinions the truth lies in the middle. Not at all! Between them lies the problem, what is unseeable,eternally active life, contemplated in repose. Goethe
Reply Good Answer (Score 2)
Go to Next Good Answer
Shadetree
Guru

Join Date: Feb 2008
Location: Milky Way galaxy, Sol solar system, Earth (not Giaha), USA, WA, N.E.
Posts: 691
Good Answers: 13
#3
In reply to #2

Re: What Are the Best Businesses to be In?

11/29/2008 12:31 PM

As usual Milo,

You get the clear thinking award and a GA from me.

__________________
 They that do not learn from history and apply those lessons to the present are bound to repeat its failures.
Reply
Milo
Guru

Join Date: Jul 2006
Location: "Dancing over the abyss."
Posts: 4884
Good Answers: 243
#4
In reply to #3

Re: What Are the Best Businesses to be In?

11/29/2008 2:17 PM

We thank you.

milo

__________________
 People say between two opposed opinions the truth lies in the middle. Not at all! Between them lies the problem, what is unseeable,eternally active life, contemplated in repose. Goethe
Reply
2
markar
Power-User
United States - Member - US Navy Veteran

Join Date: Mar 2007
Location: Nothing sucks more than that moment during an argument when you realize you're wrong.
Posts: 301
Good Answers: 22
#5

Re: What Are the Best Businesses to be In?

11/30/2008 9:27 AM

Diversify a business just as you would your investment portfolio. One things up when another is down.

My grand dad only went to the 3rd grade but he taught us not to put all our eggs in one basket.

__________________
 You never know when it will strike, but there comes a moment when you know that you just aren't going to do anything productive for the rest of the day.
Reply Good Answer (Score 2)
Go to Next Good Answer
phoenix911
Guru
Hobbies - CNC - New Member Hobbies - DIY Welding - New Member Engineering Fields - Electromechanical Engineering - New Member

Join Date: Aug 2007
Posts: 23647
Good Answers: 420
#10
In reply to #5

Re: What Are the Best Businesses to be In?

12/01/2008 9:53 AM

Diversify a business just as you would your investment portfolio.

Close but not quite.

Having a business, diversifying for the sake of diversifying is futile, one has to diversify and satisfy a need, being proactive, if all one is one is going to do is chase the latest fad business, the business future will die with the fads. Being proactive and not reactive, and taking the risks of diversifying, is difficult and is not for the faint of heart.

One has to study market trends just as one would to create a stable investment portfolio, that is where you are absolutely correct.

__________________
 “ When people get what they want, they are often surprised when they get what they deserve " - James Wood
Reply
Epke
Guru
Popular Science - Weaponology - New Member Netherlands - Member - New Member Fans of Old Computers - Commodore 64 - New Member

Join Date: Sep 2007
Location: Japan
Posts: 2703
Good Answers: 38
#6

Re: What Are the Best Businesses to be In?

11/30/2008 8:07 PM

The adult video industry?

__________________
 From the Movie "The Big Lebowski" Don't pee on the carpet man!
Reply Off Topic (Score 5)
marcot
Guru
Canada - Member - Specialized in power electronics

Join Date: Feb 2008
Location: Montreal, Canada.
Posts: 1372
Good Answers: 80
#7

Re: What Are the Best Businesses to be In?

11/30/2008 9:08 PM

Religion,

You sell promises for after life and your customers are rarely asking for delivery...

Q.A. is easy as nobody ever return to complain. (Maybe one guy did but they made him CEO)

Enjoy!

Sorry if I offended anyone. It is just a joke.

__________________
 Experienced is earned, common sense is taught, both are rare essentials of life.
Reply Off Topic (Score 5)
3
MSsteel1
Associate

Join Date: May 2008
Posts: 52
Good Answers: 2
#8

Re: What Are the Best Businesses to be In?

12/01/2008 9:06 AM

We have already resolved to not participate in the "financial crisis" at our company. Diversify is correct. The energy sector is strong, medical, agriculture, material handling is still good and mining. While everyone paniced prior mid September we have seen a nice turnaround in the past week. Poorly run companies are poorly run companies and a downturn shows them for what they are. Strengthen all areas of running your business. Produce a good product, provide great customer service, keep on your books, collect your receivables, keep good relations with your external and internal customers and suppliers. Unless you are in an industry that technology is replacing you then you can be in the drivers seat.

Yes there are downturns Virginia. When you artificially prop up the Domestic auto market with a tax advantage for large vehicles for 10 years, keep housing going beyond the norm with loans that should not be made and artificially lower the interet rates downturns happen.

The media lives off of bad news- talk to your customers and go beyond how bad it is. You may find after the first answer it is not as bad as you think.
Reply Good Answer (Score 3)
No more Good Answers. Go to first "Almost" Good Answer
Milo
Guru

Join Date: Jul 2006
Location: "Dancing over the abyss."
Posts: 4884
Good Answers: 243
#9
In reply to #8

Re: What Are the Best Businesses to be In?

12/01/2008 9:17 AM

Love it. Love it. Love it. Love it. Love it. Love it.

Great post.

milo

__________________
 People say between two opposed opinions the truth lies in the middle. Not at all! Between them lies the problem, what is unseeable,eternally active life, contemplated in repose. Goethe
Reply
The Commoner
Power-User

Join Date: Feb 2008
Location: Northeast Ohio, USA
Posts: 267
Good Answers: 9
#11

Re: What Are the Best Businesses to be In?

12/02/2008 3:54 PM

To those who advance the idea of diversification, you have a point. So, too, do those who state that one can't diversify just for the sake of diversification. If your business is building automobiles, it is highly unlikely that ou will next be producing women's lengerie.

The idea of studying your particular market will yield the most results. Some have said talk to your customers and suppliers and , I would add, employees. Talk to as many people as you can to make yourself infinitely familiar with your business. Then, I would advise you to look at the market in which you are involved. See what others are doing. Find the area where there is a need and fill that need. Build the products no one else wants to build or are not capable of building. Offer the service that no one else wants to offer. These are the ares where you can excel.

There is still opportunity in this country. And where there is a need, there is a market waiting to be filled. Identify that need and fulfill it.

Whatever particular business in which you are now engaged may not be able to fill needs outside your area of business, but there are needs within your business endeavor which need something. As in the auto industry, as I said, you won't be producing women's lengerie, but there is a definite need for alternatively fueled cars. The same is true for most other industries. Be there . Make money!!

__________________
 All that is necessary for the triumph of evil is for good men to do nothing. - Edmund Burke
Reply
GiantTechSales
Active Contributor

Join Date: Dec 2008
Location: Wentworth, New Hampshire USA
Posts: 14
#12

Re: What Are the Best Businesses to be In?

12/27/2008 4:08 PM

Interesting articles, please keep them coming.
Reply
Reply to Blog Entry
Have a Different Question?
12 comments

Good Answers:

These comments received enough positive votes to make them "good answers".

"Almost" Good Answers:

Check out these comments that don't yet have enough votes to be "official" good answers and, if you agree with them, vote them!
Copy to Clipboard

Users who posted comments:

Epke (1); GiantTechSales (1); marcot (1); markar (1); Milo (3); MSsteel1 (1); phoenix911 (2); Shadetree (1); The Commoner (1)

Previous in Blog: Are You Concurrent?   Next in Blog: Keeping Up in a Downturn

Advertisement

Got Something to Say?
Ask a Question
Start a Discussion

Search this Section
Manufacturing:
Go

Search this Blog
Machine Tools & Metal Working Blog:
Go

Recent Blog Entries

Blog Links

CR4 Sections
Aerospace
BioMech & BioMed
Chemical & Material Science
Civil Engineering
Communications & Electronics
Education and Engineering Careers
Electrical Engineering
General Discussion
Instrumentation
Manufacturing
Mechanical Engineering
New Technologies & Research
Software & Programming
Sustainable Engineering
Transportation

Site Directories
Forum Directory
Blog Directory
User Group Directory
RSS Feeds

CR4 Rules of Conduct
CR4 FAQ
Site Glossary

Who's Online (60 right now)
Show Members
Advertisement