MMT Chats: Top of Mind Should be the Business of Moldmaking

^{This episode is brought to you by ISCAR with New Ideas for Machining Intelligently.}

I met Charlie Daniels about five years ago at an annual AMBA Conference over social media … Twitter in particular. Back then and until this year, I was very active on Twitter and it caught Charlie’s because Wepco was very active on social media too. In this conversation, Charlie shares his insights on the role of social media in moldmaking/molding, his favorite platform and the most effective platform.

On top of that, in his role as CFO, he offers advice for shops on how to improve the “business” side of a small mold shop, incorporate “finance” lessons into the workplace and continually develop culture.

Here are just a few quick tidbits to whet your appetite:

• Social media provides a way that you can tell a story, and start to build relationships, and build awareness for yourself and your brand that you just can't do anywhere else. (1:30)
• It's really important to understand your audience, how they're using it, why they're using it, when they're using it. A lot of research goes into using social media properly.  We use analytics to figure out how people are interacting with our content. 
• You have to understand the finances. If somebody hands you a Profit and Loss sheet, you have to be able to go through and understand it.  You have to know what your marketing plan is. (12:35)
• We've done a lot of financial education and we were getting ready to launch our first Financial Peace University courses, which is Dave Ramsey's class. (16:35)

• The majority of the things that are wrong in people's lives somehow are related to finances. So, we want to help employees take care of that one thing. We want to teach them to not have debt and to live on a budget. And this goes for businesses too, because there are a lot of businesses out there that do not have a budget that they're working on. 

For the full quick chat, watch above, and for more MMT Chats, click here.

This episode is brought to you by ISCAR with New Ideas for Machining Intelligently.