Vantaggi
Product concept/positioning is viable and unique in marketplace. Fun industry. Physical building/workspace is newer...cool/eclectic. Lean manufacturing cell configuration in workshop area downstairs. Open loft environment with cubicles and lots of windows and high ceilings in upstairs business office area. Youthful spirit and culture. Co-workers and staff are great people with a desire to work hard and succeed in general.
Svantaggi
This business started as a hobby and grew out of the owner's house in the beginning days. The company found initial success through it's currently unique product concept of high-end personalized jewelry that is hand-stamped and personalized. Unfortunately, ownership failed to institute proper business fundamentals as they found initial product selling success as well as failed to hire competent experienced management/leaders to guide the growth process in the early years. Instead, the company was inundated with a network of friends (quite inexperienced) being put in positions to run and manage the business. As the product was finding growing success in the market, the ownership failed to recognize the need to grow properly with capable managers and sound business planning and execution at the same level (change is hard sometimes, but necessary in this case). Despite initial good topline trending sales, unfortunately there was a lack of capable support from what was a weak organizational structure built on poor foundational/fundamental business practices/systems in the organization. The ownership's inability to recognize this and then get out of their own way (quite whimsical, unprofessional, and unsteady was the nature of ownership) while also missing the concept of bringing in capable managers and LISTENING TO/ALLOWING THEM and to address serious issues and set/move the company into a new solid direction has been unfortunate. A handful of capable professional executives/managers with outside experience were in fact at one time hired (maybe 2-4 years ago) but unfortunately ownership waged a war of resistance against them and finally over the last 2-3 years fired most if not all of them due to a distaste for the direction they (capable managers, executives) recommended the company needed to go to be successful. Ownership instead opted to go into deep cost cutting and eliminate staff/postions while reinstating friends/family (far less experienced) back into the reduced management positions left in the structure. This company is a typical business case study on how personalities, egos, selfishness and lack of sound business fundamentals and acumen can disrupt and spoil a viable business in the market. It is unfortunate and was quite a textbook experience of how not to go about doing things to grow and build a company. I wish them luck...my guess is they will need a lot of it.