Case Study: Scott Duncan, Owner of F&M Tool and Die
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Today, I’d like you to meet our client Scott Duncan, Owner of F&M Tool and Die. Scott started working with our firm about 18 months ago, after purchasing F&M and navigating the unique challenge of becoming the owner of an existing business.
For a bit of background, F&M Tool and Die is a machine shop that does 50% new engineering and 50% repairs. We produce injection molds that are used to make plastic parts.
As a new owner, I didn’t want to make too many changes too soon. But after 9 months of owning the company, it still didn’t feel like mine. I have an engineering background, and I was frustrated that we didn’t have a process for setting goals, communicating them to everyone at the company, and measuring our progress. I decided to bring in EOS to help me take ownership of the business.
Our first EOS meeting was pretty tough. My team started with crossed arms and skeptical looks, but by the end, they were into it. Then they heard how much each meeting cost—it was like stepping into a cold shower. The mood changed dramatically. I knew we needed what Jay and Eric had to offer, but there was no way to be successful without my employees on board.
Jay and Eric offered to do a first session, and if we didn’t get anything out of it, they wouldn’t bill us. Leading up to that session, my employees started talking about concepts like core values and the accountability chart, so I knew EOS was working.
We had that session and never looked back.
Favorite EOS Tool:
It’s got to be the V/TO. The way everything feeds into each other: 10 Year Target to 3 Year Picture to Annual Goals, with the Rocks coming out of that. It’s a logical, systematic cascade. When you’ve got a leadership team of engineers, that irrefutable logic has to be there.
Biggest EOS Challenge:
Aside from the initial challenge of getting my team to sign onto EOS, I’m surprised by how long change actually takes inside the company. I anticipated that we’d get fully up to speed with EOS a little faster, but at the same time, other changes are happening more quickly than I expected. And I think we’re ultimately bringing on EOS the right way: making sure we master the concepts and tools instead of just checking the boxes.
Results with EOS:
EOS helped us identify our core values, and we now give reviews, hire, and fire based on those values. Knowing our core values gave me the clarity to make speedy and accurate decisions when the pandemic hit, and showed me who I want to be in the trenches with in my business.
Most importantly, EOS got everyone speaking the same language. Before EOS, we had no way to talk about our internal systems or communicate the idea of “working on” the business versus “working in” the business. Now we have this mindset that we can design this company to do what we want it to, and that’s very different.
EOS has given us a framework for bringing up the most important issues (previously, the shop floor didn’t want to bring issues to me). And it’s helped us solve more issues than I can count.
2 years into owning this company, I’ve got a high-functioning team and am closer to my vision than I ever thought I would be. We wouldn't have had the structure to do it without EOS—and without Crews Consulting Group supporting us and taking us through the system.
It’s been really meaningful to see how my employees have responded. These people don’t express a lot of emotion, but I’ve had a few guys tell me that working here feels good. They’re part of something bigger than just making parts all day long.
F&M Tool and Die finally feels like my business. I literally sleep better at night. I’m in control and running my company the way I want to.
The bottom line: Starting out with a new business venture and implementing changes can be a daunting at the start. Our consultants can help with providing you clarity and direction to keep your leadership team organized and on the same page. Contact us if you’d like some help.