What I've Learned

Ken MacCormac, President, Capewell Components Co., LLC, South Windsor, 76

I have been managing small manufacturing companies for over 45 years, finding it a challenge to turn some around and grow others to higher profit levels.

I'm fortunate. Shareholders have allowed me to operate Capewell as though it was my own business, acquiring businesses and launching new products.

Early in my career (in the '60s), I was responsible for a company's investments and licensees overseas. That was a great learning experience, an early start in exports and setting up operations around the world. Today with a number of emerging markets, there are even more opportunities to sell and manufacture overseas.

My father owned three hardware stores. With my two brothers, I was given the responsibility to run one of the stores (as a teenager) when my parents were away. That's where I learned about selling, promotion, and running a small business. Selling hard goods there led me into manufacturing.

My parents wanted me to be a lawyer, but business was in my blood and I went for my MBA instead. Decades later, I'm still fascinated by the fabric of a business, always thinking of ways to expand it. Understanding the history of a business is essential to understanding its culture, uniqueness and skills to be successful.

Innovation is the key to survival. Companies need managers that think outside of the box. Those who think making and selling is enough, relying on legacy products, will be left behind. We must understand how our products are used, see our customers as partners, and exceed their requirements.

I would like every employee to think that their job at Capewell is the best job they've ever had. Given the amount of time we all spend working, it's important that we enjoy working with colleagues in a family environment.

Communication is critical. Idea sharing, open dialogue, and the camaraderie are essential to building teamwork.

Mistakes? Sure, I've made my share: getting ahead of myself, letting managers go too far down the wrong road. Overall, though, I have batted over 500 in my career.

Progressive companies today must be alert to change and be more flexible and nimble. Years ago, we had more time to recover from mistakes or take corrective action. In this prolonged recession, every company should be thinning itself out. You can't be lean enough. If ever there was a time to streamline your company, this is it.

Connecticut, "the land of steady habits," has to reinvent itself. There is no time for "steady" and the "habits" have to go.

I am thinking about retiring, but I still have a lot to offer, including years of experience. There are more leisure activities I enjoy than I have time for. I am a people person and like to help others succeed.

I have some concerns about the next generation. Many young people seem to carry a sense of entitlement, while my generation was motivated and even required to get out and work. You can't wait around for a 'great job.' Take what is available and run with it. No job should be beneath you, especially now. There is no sure path to any career. Each one has twists and turns and that is what makes life interesting.