There is no “Perfect Business Model”. While this may seem like common sense, there are still a great deal of startup companies trying to approach their business with a “cookie cutter” approach. Company founders go through the process of developing a plan by assessing the opportunity, applying the problem to the assumed solution, and developing a five-year business forecast with information that is unsubstantiated and quite frankly, unknown. Recent studies show how customer-first methods are able to revolutionize the process, dramatically reducing the failure rate of startup organizations. In an article published in the Harvard Business Review, professor and principal investigator Steve Blank explored the merits of the “Lean Start-up” approach. The first contrast of the Lean Start-up approach regards the development of a framework. Using a template known as the Business Model Canvas developed by Alexander Osterwalder and Yves Pigneur, entrepreneurs are able to understand the building blocks to their organization, including categories such as Value Proposition, Customer Segments, Key Resources, and Key Partners. The business model canvas allows you to develop relationships within your building blocks, understanding the most successful approach to presenting your start-up. These approaches can be resource-driven, customer-driven, offer-driven or finance-driven as explained by Osterwalder.
Senior Design Engineer Dave Pierson has been with MAGNET for nearly three decades and serves as one of our best subject-matter experts. He holds over 20 years of varied and practical additive manufacturing training experience, as well as 40 years of experience in mechanical and electrical engineering. As one of the country’s foremost authorities on additive manufacturing, he has helped companies grow through innovation. Not only has he helped bring new products to market and improve existing ones, but his introduction of 3D printing and other techniques has saved money and time for hundreds of businesses in the region. Some of these include: • Little Tikes • Cleveland Whiskey • Heat Seal • Mantua Manufacturing • Alfe Heat Treating He has also worked on many projects for the U.S. military and recently helped install a large wind turbine at Progressive Field, making them a leader in stadium sustainability. In addition, Pierson regularly develops and delivers curriculum at local colleges and trains operators, students, and engineers on the latest and greatest in additive technology. His presentations have also been well-received at national events and workshops, and he regularly presents at the annual R3D Conference at Cuyahoga Community College in Cleveland. In
MAGNET’s new “Tap into…” series highlights local resources useful for manufacturers in Northeast Ohio. From innovation to product development, from admin to supply chain, these companies, workspaces, and organizations offer the tools you need to achieve short- and long-term success with your latest projects. Located in the heart of the campus of Case Western Reserve University, the Larry Sears and Sally Zlotnick Sears think[box] is a new center dedicated to helping entrepreneurs, engineers, educators, and students invent and experiment by taking advantage of state-of-the-art tools and hands-on learning. Housed in a 7-story, 50,000 square-foot facility, the hub acts as an one-stop innovation center that has everything you need to test a new invention or experiment with different product ideas, including: • 3D printers • Laser cutters • Miter saws • CNC machines • Vinyl cutters • CAD/drawing software • And more! The best part? think[box] is open to everyone! Those who want to utilize the center’s many capabilities are not required to be affiliated with CWRU or pay extra dues. However, safety orientations are required for participants needing to access the metal or wood shops. Staff members are available at all times to provide guidance and answer questions. For equipment
MAGNET, Medina County Workforce Development, Team NEO, and WIRE-Net have announced the completion of a noteworthy grant-funded project that has helped regional companies improve their competitiveness, create and retain jobs, and bolster their presence in Northeast Ohio. The $1.8M, three-year grant, known as Make It in America (MIIA), was awarded to the four organizations by the U.S. Department of Commerce, the National Institute of Standards and Technology (NIST), the U.S. Department of Labor, and Delta Regional Authority. Aimed at encouraging businesses to expand domestic operations, the grant closely aligns with the mission of helping mid-size companies, particularly in biomedical, automotive, and advanced energy sectors that use innovative materials in their manufacturing processes. The project, which closed at the tail end of September, yielded very positive results for the region, including: $25M in new investments 68 new jobs created (exceeding initial goal of 50) Up-skilling of over 200 incumbent employees and 40 dislocated workers Additional training in CNC machining and welding that resulted in 24 workers finding full-time employment The team worked with a number of other partners to execute this program, including BioEnterprise, NASA Glenn Research Center, and the higher education institutions of University of Akron, Case Western Reserve University,
The manufacturing sector has traditionally been regarded as a male-dominated industry, with women making up less than a third of the workforce. However, many companies are changing this trend by hiring them more frequently for skilled positions. Karin Simonson, an employee at Alloy Bellows and Precision Welding in Mayfield, quit teaching and went back to school in search of a career change. Seven years later, she says her job fares far better than those she held previously. “Here I feel like I’m more valued, like what I do is important,” she told WKYC in a recent interview. Click here to read the whole story on WKYC's website! MAGNET also partnered with the National Association of Manufacturers (NAM) and the Manufacturing Institute in November to hold STEP Forward, an event designed to celebrate women in the industry by sparking ideas and fostering a sense of community through networking. Check out our photos from the event in the gallery below! [Best_Wordpress_Gallery id="44" gal_title="STEP Forward"]