August 22, 2025 • 35 mins
When most people think of wealth in America, they think tech startups, Wall Street, or real estate. Hardly anyone says manufacturing. But the truth? Manufacturing is still alive—and it remains one of the most powerful engines for building wealth, jobs, and community impact.
In this episode of The NEXT BIG THING with Keith D. Terry, I sit down with Terry Atwater, Owner and President of Enova Investments LLC, National Materials Transport LLC, and Enova Care, LLC. With over 25 years of experience at industry giants like General Electric, IDEX, and Berkshire Hathaway, Terry has worked alongside legendary leaders including Jack Welch and Warren Buffett. Today, he’s building companies that prove manufacturing is far from dead.
We dive into:
- How manufacturing ownership creates wealth, jobs, and legacies that last
- The impact of tariffs, reshoring, and U.S.–Mexico trade on American industry
- Why “it’s not the big that beat the small—it’s the fast that beat the slow”
- The role of AI, automation, and logistics in shaping the future of U.S. manufacturing
- How manufacturing businesses can transform entire communities by creating opportunity
Terry’s story is proof that ownership isn’t just about making money—it’s about building systems, shaping communities, and leading with vision.
If you’ve ever wondered whether American manufacturing still matters—or how you can play a role in its future—this is the episode you can’t miss.
🎧 Subscribe to The NEXT BIG THING with Keith D. Terry on Apple Podcasts, Spotify, and iHeartRadio.
📺 Watch full episodes on YouTube: @keithdterry
Send us your thought on this episode.
Keith D. Terry and JJaed Productions, LLC produced this episode. www.jjaedproductions.com
Please Follow us on our YouTube channel at www.youtube.com/@keithdterry
For podcast guest recommendations, contact kterry@keithdterry.com
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Keith D Terry, a consultant, a coach and a serial
entrepreneur.
The mission here is to teach,inspire and to motivate.
Today's episode is going tochallenge what you think about
American business.
If you ask most people wherewealth is built in this country,
they'll tell you tech, startups, wall Street, real estate.
(00:21):
Hardly anyone will ever saymanufacturing.
Why?
Because we've been toldmanufacturing is dead in America
, that all the jobs are overseas, the factories are gone and the
only way to win now is to gohigh tech.
I say again, the only way towin is to go high tech AI.
The truth is, manufacturing isvery much alive and for the
(00:41):
people who know how to own it,lead it and grow it, it's one of
the most powerful wealthbuilding engines left in this
country.
It creates jobs, it shapescommunities and it builds
legacies that last forgenerations.
I just want to give you a fewfactual points to keep in mind
before I introduce my guest.
(01:02):
Today, manufacturing has about12.7 million factory jobs.
Now that's below the early 2000level, but it is roughly back
to the pre-pandemic numbers.
The output share manufacturingconsistently and check this out
consistently contributes aboutone-tenth of the US GDP.
(01:22):
Now, this is enormousconsidering a country that's
dominated by services.
So let's talk about it, let'sget into it.
Today, my guest has lived thisreality.
Mr Terry Atwater is the ownerand president of Inova
Investments LLC, nationalMaterials Transport LLC and
Inova Care LLC If I'm pronounpronounced it, he'll correct me
(01:44):
on the other end of this,overseeing strategic direction
and growth for multiplebusinesses.
With more than 25 years ofexperience, Terry has worked
with industry giants likeGeneral Electric, idx
Corporation and BerkshireHathaway and has collaborated
directly with legendary leaderssuch as Jack Welch, warren
(02:05):
Buffett.
He's been featured inbestselling book Real Change
Leaders, holds an engineeringand he holds an engineering
degree from Western MichiganUniversity and an MBA from the
University of Notre Dame.
Beyond the boardroom, terry isa devoted family man, a
motivational speaker and alifelong student of achievement,
and part of the greatestfraternity in the world Kappa,
(02:27):
alpha, psi FraternityIncorporated.
Terry, welcome to the show.
How are you, my friend?
Speaker 2 (02:32):
Yo, I'm doing great Good to be with you and it's a
great platform you have here aswell.
Thank, you.
Speaker 1 (02:37):
Thank you very much.
So, as we get into this, tellmy listeners a little bit about
you.
I know about you, but theydon't, so where do you come from
?
Speaker 2 (02:45):
Well, I'm originally from Evansville, Indiana, so I'm
a Hoosier by birth.
but I grew up here in theChicago area.
Most of my life I wrench rack,played football.
Of course, engineering is mybackground and I had the
privilege, of course my father,who's also a Catholic, both you
and I of seeing him work incorporate America and also be an
(03:06):
entrepreneur as well.
So of course, my mind wasalways biased towards being an
entrepreneur and at the age ofnine and at the age of 10, I was
in the summertime I was in theoffice calling buyers for
pricing on parts and things ofthat nature, which, of course,
kind of when you indoctrinate ayoung person's mind into
something, they take hold of it.
So, although I worked incorporate America for a long
(03:27):
period of time, you know, theinnate desire of owning my own
has always been in me.
Speaker 1 (03:32):
That's great, but before we get into that, I just
found out something I didn'tknow.
You ran track and you playedfootball.
What was your?
Speaker 2 (03:38):
what was your heat?
Well, let's just say that inthe state of Illinois I'm still
one of the top spinners.
Well, let's just say that inthe state of Illinois I'm still
one of the top spinners.
If you go look at the recordbooks, 1986, came in third in
the state and that was thefastest time ever in the state
of Illinois, and it still standstoday.
So we had some smoke back inthe day.
And of course you know, Iplayed football in college as
well and ran track there too.
Speaker 1 (04:00):
Okay, I didn't know that.
What position in football?
Defensive back quarterback?
Oh, so you were out therehitting folks.
Okay, that's the only way to doit.
I love it.
I love it.
Thanks for that.
So now let's jump into thisconversation.
So you've led companies acrossthe globe and work with some of
the most iconic business leadersin history.
What's the thorough line inyour journey that shaped how you
(04:24):
lead today?
Speaker 2 (04:25):
Yeah, just not being afraid of change is a huge thing
For me.
Always using my career as a wayto learn more, to gain
competencies that you need torun companies, to make
thought-provoking decisions thataffect the bottom line, and
being able to just go ahead andtry different areas, you know,
(04:47):
give me the biggest problem youhave.
Let me go tackle that.
That's a way of understandinghow to be a problem solver, to
generate income or to generateproductivity and improve bottom
line.
So that's how I got my start incorporate America and that's
what I kind of use as myplatform to always be in
manufacturing, so to speak.
And then, of course, I was ableto go international with a lot
(05:09):
of those opportunities as well,and that's been an eye-opening
endeavor for me, which hasallowed me to do what I'm doing
today.
Speaker 1 (05:17):
Yeah and I want to.
So when you were nine, were youjust trying to be a good son,
helping out his dad?
Did you see the connection towhere you are now?
That's a big, bold question andask.
So tell me about that.
Speaker 2 (05:31):
It was one of those things where you know you're out
of school for the summer andyou know my mother wasn't going
to let me sit around at thehouse, so of course she would
drop me off to my father'sbusiness and then all the people
would give me things to staybusy.
And so they would give me quotesheets to call certain people
to get pricing, and of coursethey would call them ahead of
(05:52):
time.
Listen, terry Atwater Jr isgoing to give you a call.
Work with them on gettingpricing that we need pricing
from you on these certain items.
So that's how I got startedreally looking at businesses and
looking at products.
Then, of course, just workingin the summertime for my father
as well.
Out on the manufacturing floor Iused to drill holes into pipes
(06:14):
for garbage cans.
So when he did a lot of thatkind of work for the state of
North Carolina, I've doneeverything from working drill
presses to sanding machines.
Okay.
Then, of course, in the officedealing with buyers, customers,
we had a lighting store as wellback in the day when I was
junior high school.
So I got a chance to work onall kinds of lighting fixtures
(06:36):
for various home builders, thosetypes of things.
So just understanding thenature of how to work in that
kind of setting kind of biasedmy mind towards being able to
know every aspect of businesswhen it came to just the spirit
that I have within me.
Speaker 1 (06:51):
Well, that's great.
So you work with some largecompanies?
I did, and was there a pull tocome to own your own?
Or what was the fight likestaying in corporate America
versus jumping out and owningyour own?
Speaker 2 (07:06):
Well, initially, you know, I wanted to go into
corporate America because Iwanted to learn what I didn't
know, and I chose GeneralElectric out of college because
they had a program called theManufacturing Management Program
where it gave you theequivalent of five years of
experience in different areas ofmanufacturing over a two-year
period of time.
So it was an accelerated programthat they had a corporate entry
(07:28):
program, that I traveled andworked in large, high-volume
companies to special-orientedengineering companies over a
two-year period of time, whichgave me a good foundation.
And then I went on to the auditstaff and did a lot of work and
looking at different businessmodels, different business
practices for GE and thenrunning companies as a result of
(07:51):
that.
So everything I did incorporate America was designed
to give me the background, theplatform, the global vision and
the global insight of what takesplace, so that I could do my
own thing.
Of course, eventually and Istayed longer than I planned on
staying in corporate America,you know things were rolling
pretty well.
But then I made the decision itwas time to go ahead and do my
(08:13):
own thing and I was gratefulthat I did it when I did it.
Speaker 1 (08:17):
But I wish.
Speaker 2 (08:17):
I would have done it sooner, as a matter of fact.
Speaker 1 (08:19):
Now take me to that.
Let's talk about that decision.
Sure, was that a tough one, orwas it a no-brainer?
I mean, I would assume you weremarried with kids and mortgages
and was blessed accordingly asa result of it.
So, security-wise, I felt goodwhen it came to that.
Speaker 2 (08:53):
But what was really important was just the amount of
knowledge and experience Igained while being in corporate
America.
And you know, when you makemillions of dollars for other
folks and other companies andyou have the know-how, you know
you can choose to stay thattrack.
Nothing wrong with it.
But I wanted to control my owndestiny.
I wanted to control my ability.
I wanted to own every aspect ofwhat I do.
If it fails it's my fault andif it succeeds it's my fault.
(09:14):
And here, 14 years later, I'mblessed to be doing what I'm
doing right now.
I still get calls to come backto corporate America now, and
I've been out of it for a longperiod of time.
But I know how to look at abusiness, evaluate it,
understand where the warts arelocated or the opportunities for
significant improvement andmake a decision whether it's
(09:36):
something that I can do.
You know, do and benefit fromor not.
Speaker 1 (09:40):
Right, and you know you've acquired over 30
businesses, or what's the number?
Speaker 2 (09:45):
Yeah, so in my corporate career you know,
acquired over 30 differentcompanies for different entities
, whether it be GE, IDEX orBerkshire Hathaway, Did some
really good deals with all ofthem, and every deal has its own
characteristics.
Every opportunity has its ownstrategic plan of why you're
(10:05):
acquiring it and why it'scritical to whatever business
you're working for.
So I was able to create thestrategic map and I'll do a
shout out here.
There's a gentleman named KevinHostetler who I worked for at
IDEX Tough guy to work for, butlearned a ton from him and it
gave me a really good foundationto really just do some great
things off of and used all thatto grow and develop and as a
(10:30):
result of that, I was able to domy own thing.
Speaker 1 (10:32):
So I'm curious do you have a process by which you
look at businesses, even today?
Speaker 2 (10:37):
I do, I do, I do and I don't do too many acquisitions
today.
Of course, most everything I dois organic, but the same kind
of strategy that you use to lookat opportunities for
acquisitions is a strangestrategy.
You use for organic growth aswell, and so I use the same kind
of process for organic growthto look at where it's
synergistic with what I do todayor how it can be additive in
(11:01):
nature to what I'm doing todayto create the ability to reach
into a customer and become partof their total system to support
their needs.
Speaker 1 (11:09):
Okay, so let's talk current day.
See, trump's been talking abouttariffs and wanting to bring
things back.
What makes sense of what'shappening from a manufacturing
standpoint?
Speaker 2 (11:21):
I'm kind of a supporter of that.
To a certain degree it helps meout.
Speaker 1 (11:25):
Oh yeah.
Speaker 2 (11:26):
You know I've had so many inquiries over the last
geez, four and a half monthsabout things that we're
currently doing right nowalready in North America, to add
to what I'm already doing.
So of course, we're judiciousabout how we look at it.
We're judicious about ourcosting mechanisms in order to
(11:46):
make things happen.
I have a really good team thatI'm able to work with to make
sure we make the right kind ofdecisions for the company and to
move it forward.
But for what I can see rightnow, there hasn't been a
significant impact.
But we're going to start seeingthe impact over the next four
to 18 months in terms of thetariff cost, things of that
(12:07):
nature.
It'll reset itself and, ofcourse, it's going to drive more
manufacturing back this way,because the inquiries are pretty
strong when it comes to thatright now, from what I can see.
Speaker 1 (12:16):
Now, when you say it'll reset itself, what do you
mean by that?
Speaker 2 (12:19):
Yeah.
So because of the tariffs, themarket levels are going to reset
themselves.
I see Companies in business togenerate income for their
shareholders or for the ownersof those companies.
So of course the unfortunatepart about that as a consumer
we're going to see some level ofinflation.
The question is how much willwe see and how much productivity
(12:44):
can be gained to avoid passingthat cost on to customers?
And of course that's kind ofthe philosophy I've always used
it's never the big that beat thesmall, it's always the fast
that beat the slow.
And so of course I focus onspeed and productivity versus
size.
Speaker 1 (12:56):
Okay.
So that's interesting becauseyou know, before I get into my
preamble, a little bit more onwhat's happening now.
Do you think that themanufacturing in the US can
build up enough and quicklyenough?
Because you just made something, you just said something pretty
powerful.
It's not the big versus small,it's just low versus fast.
You know they can't buildfactories quick enough, so
(13:21):
what's your perspective on thetime frame that we're talking
about?
Speaker 2 (13:25):
Yeah, I think.
I think it's definitely overthe next five to 10 years.
Ok, not going to be overnight,you know a snapshot for sure.
It's going to be tough from abehavioral point of view for the
government to go retroactive onthat and take them off, because
(13:47):
the income is going to flow inand, of course, income is what
governments need.
So, whether you like thepolitics or not, from a business
point of view, it is what it isin terms of the change in
dynamics that's going to takeplace associated with the
tariffs.
Speaker 1 (14:03):
So you think the tariffs are going to stick?
Speaker 2 (14:06):
I think a good majority of them are going to
stick.
You may see some fluctuation insome of the rates, but for the
most part it's going to bepretty sticky.
I'm pretty certain of that.
Speaker 1 (14:16):
Only because, again, once you get used to seeing the
cash flow roll in, because again, once you get used to seeing
the cash flow roll in, it'sgoing to be tough to turn that
valve off and say, hey, no,we're not going to take that in.
Well, you know.
And so now that gets me intokind of the power of
manufacturing ownership.
And so I made a statement thatyou can create wealth on the
(14:37):
manufacturing side.
I believe that.
Do you concur, or do you see ita little different than I?
Definitely concur.
Speaker 2 (14:44):
The key is where you choose to focus on, number one
and number two, how youintroduce productivity into your
processes.
I'm never going to haveChina-level costs.
I spent years moving productsfrom the US to China US to
Mexico first, then US to Chinain second.
We're to Mexico first and US toChina in second.
We're never going to be at thesame level as China, vietnam,
(15:07):
those type of companies, butwhere you can make improvements
is productivity and speed,depending on what industry you
are in Things like clothing,maybe, some toys, things of that
nature they will probably stillbe, you know, offshore to a
certain degree.
But in the areas that I focuson in terms from a manufacturing
point of view, for packagingcompanies and for product
(15:29):
companies that integrate ourproducts into theirs, there'll
be good opportunities for thosethings to come back, and we're
already seeing it.
Speaker 1 (15:37):
Okay, so help me, terry, to understand the
manufacturing landscape.
You know, in my mind, as aproduct innovator, I've done a
number of things broughtcompanies and products to market
, but I never thought about thelogistics of transportation or
(15:58):
housing.
As a manufacturer, how do youthink about it?
Help my listeners to understandthe ecosystem on the
manufacturing side.
Speaker 2 (16:06):
Yeah, I think the biggest thing is number one.
When you produce a product fora customer, you try to figure
out how many more services canyou introduce to them to support
their operations.
Okay, so it literally went fromI can produce a product for you
, I can also store it for youfrom a distribution point of
view.
(16:26):
And oh, by the way, if you want, I could put it on a box truck,
a semi truck, deliver it toyour customers or to another
location for you in betweenoperations as well.
And that's kind of how we moveddown the continuum of
manufacturing to logistics, topackaging and then to logistics
as well, by being able to justbe in all those various areas.
Speaker 1 (16:47):
So that's pretty powerful.
I hope folks are reallylistening.
So what do you think is thebiggest misconception about
manufacturing today?
Speaker 2 (16:56):
That you can't generate enough income to have a
sustainable entity long termand to employ the right kind of
people to maintain, to run itand to focus on it.
There's definitely a good baseof knowledge that's out there.
That's manufacturing related.
There are great schools, tradeschools that have great tool and
die individuals that have greattechnicians that you can even
(17:20):
groom and learn and move intoyour organizations.
Trades are going to be whereit's going to be at longer term
because the trades are wherewe're seeing the need for good
quality individuals welders,yeah yeah, mold and dye experts,
electricians you know all ofthose various areas that require
(17:42):
some type of trade support,along with the new technologies
that are out there in thosemanufacturing areas to use
equipment for that.
So a combination of technologyplus trade-oriented individuals,
that's powerful.
And again, it's on speed, noton size.
Speaker 1 (18:00):
Well, you know it's interesting.
I've heard people say, withmanufacturing coming back to the
United States, it won't happenbecause the pricing structure is
going to be too much.
You know, an American welder orAmerican manufacturing worker
makes way too much, or I won'tsay way too much, but makes more
than a Mexican worker orChinese worker.
But I heard you say somethinginteresting It'll level set
(18:23):
itself, It'll reset itself.
Do you believe that all kind ofmanufacturing can come back to
the United States shores or isthere only a certain type?
Speaker 2 (18:32):
Yeah, I don't believe all types will be able to come
back.
I definitely agree with that.
Like I mentioned earlier, Idon't believe that clothing will
come back like we think it will, nor toy manufacturing, those
type of things.
But the things related to theautomotive industry, things
related to more house-orientedgoods, housing-oriented goods,
(18:52):
more things that require a laypoint identification, which I do
a ton of as well, such aspackaging type materials, those
types of things that are, youknow, that would not be cost
advantage to bring from overseas, those things are flourishing
tremendously.
I mean they'll do well.
So, yeah, it won't be foreverything, but there are
definitely huge opportunitiesthat are coming back across this
(19:13):
way.
Speaker 1 (19:13):
Well, I can't escape this conversation without
talking about AI.
I would assume, having worked,you know I've worked for some
large companies, diagnosticcompanies, abbott being one of
them.
I've never seen them assemble,but I know when we were
developing it on the R&D side Isaw it.
What's your thought about AI onthe manufacturing side?
Is it going to help bring thecost down?
Speaker 2 (19:37):
raise the cost up, or what's your thought?
Yeah, I think it's going todefinitely help the cost
scenario in manufacturing.
When it comes to thestaff-oriented positions, the
direct touch positions thattouch the product, that touch
the level of operation, you'restill going to have to have
individuals to play a key rolein those type things.
Give you an example you know,and if you go into an Amazon
warehouse, you know you have alot of robotics that are moving
(19:59):
around products all over theplace, but you still have to
have the human interaction tomake sure things are addressed
properly within thosemanufacturing or those packaging
environments, and that's goingto be the case in manufacturing
also.
For example, will I need 36people to run 36 pieces of
equipment?
No, but will I be able to use12 people or 10 people to run 36
(20:19):
pieces of equipment?
Absolutely, and that's how youlook at productivity and speed
from a cost point of view, usingAI or using technology to be a
guide for you.
Speaker 1 (20:30):
Well, you know, because I think wealth can be
created.
Do you have any thoughts on,you know, now we have Trump
putting tariffs out, there is ademand now.
The hopeful reaction is that alot of these companies will now
invest in the United States.
Any thought on what impact amanufacturing plant can have on
(20:53):
a community?
I'm interested in that because,you know, I have a mother who
we have a family home down inCanton, mississippi and one of
the auto manufacturers I forgetNissan put a huge plant down
there.
I saw the impact there.
But from a manufacturingstandpoint, when you think about
(21:13):
America, any idea where youthink they might end up landing?
Speaker 2 (21:18):
Well, I can't speak specifically on some companies
but for myself.
You know, I chose to focus mostof my operations in the Kenosha
Wisconsin Zion, illinois,pleasant Prairie, wisconsin area
, specifically because, numberone, I want to touch everything,
you know, I want to see all thedifferent companies.
(21:39):
But, number two, we're locatedin communities where people of
color, who I focus on heavilyfrom a ministry point of view
and I'll call it a missionarywork If I can help our people
get an opportunity to do greatthings and be accountable for it
and the results, that helps thecommunity overall and that's
what I focus on.
To give you an example, westart at 6 o'clock in the
(22:01):
morning with all my operations,6 am in the morning and their
day typically ends at 2.30, 3.30, or 4.30, depending on what
their roles are and what they do.
And the whole goal in doingthat was, number one, you don't
have time to fool around atnight if you've got to be up at
6 o'clock in the morning to beat work, Right, so we did it for
that reason.
And then, number two, it givesthose who may not have an
(22:23):
opportunity because of somehistorical things they did in
high school or whatever the casemay be, I see To reintroduce
themselves into the workindustry.
We give them a chance.
Be on time, be constructive.
You can then stay with us or wecan give you a recommendation
to move on to other companies bywhat you do showing up on time,
being accountable and being aproductive person in our
(22:46):
organization and it's worked outreal well for us to be able to
see people go and flourish atother locations or to stay with
us either way, because we'repositioned to be able to help a
lot of people do good things forthemselves.
Speaker 1 (23:00):
Well, good for you.
I didn't know that.
I mean, that's prettyremarkable Six.
You know I'm up way earlierthan that most days, you and me
both.
I just can't help myself.
Once you lock in, that's whatyou lock in at, but that's great
when you think aboutmanufacturing.
You chose Wisconsin and Zion.
You know there's some hugefacilities there.
(23:23):
Was that one reason, anotherreason why you chose that versus
Chicago or where you're fromIndiana?
Speaker 2 (23:30):
Yeah, well, I grew up in this on the border area of
Wisconsin and Illinois, so ofcourse I'm familiar with the
landscape there.
And then also I chose mostly onthe Wisconsin side of the
border because there's someclear tax advantages that I'm
able to receive to set upmanufacturing there, Pretty
plugged in with some of the youknow the establishment in those
(23:50):
areas, to be able to do somethings to help the community,
which of course is what I liketo do as well.
And then, quite frankly, a lotof my large customers are in
that geographic region also,Most of my customers are within
a 200 mile radius of where I'mlocated at from terms of a
manufacturing point of view andthen my trucking goals all over
(24:12):
the country.
So that's a whole differentthing.
Speaker 1 (24:14):
Wow, wow.
So how big you know.
Talk a little bit abouttrucking, because trucking is
also it was incredibly huge orprofitable for a lot of folks
before the pandemic.
You see, I mean you've been inat the forefront of a lot of
these shifts.
What do you see happening onthe trucking side?
Speaker 2 (24:32):
Yeah, you have to be judicious in whom you're working
with and what you're doing.
Of course, it was a huge boomduring COVID and post-COVID to a
certain degree, and all of asudden things got back to a
normal rhythm.
And what's been nice for mycompany is, you know, I have
about 30 semis on the road, abunch of straight trucks.
(24:56):
Also, there's a lot of the workwe do or with customers that I
do work for in all of mywarehouses and in my
manufacturing.
So we, you know I don't move aproduct if I can't generate some
revenue or an income from it,of course, and we've been
fortunate enough to have a lotof dedicated work that we can do
and I got good people that areable to maintain that and do a
good job, you know, with, ofcourse, the right kind of
(25:17):
nudging and oversight.
I'll call it yeah.
Speaker 1 (25:20):
So for those folks that are listening to this, or
people who've never reallyconsidered manufacturing as a
career, any advice.
I mean, what would you tellfolks that might be considering
this either as a career or aninvestment?
Speaker 2 (25:34):
Yeah, absolutely.
If you look at the US and I'llcall the country at large we are
definitely product-drivenindividuals, so we like the next
widget.
We like any kind of opportunityfor us to, so we like the next
widget.
We like any kind of opportunityfor us to support or show some
type of product, no matter whatit is, and every product has a
(25:56):
root.
It has a beginning and the keything is finding out what are
the beginnings of all of thosevarious type items that you work
on and becoming part of thatprocess and being a part of that
product process and being apart of that product.
So my encouragement is you know, if you're ever interested in
manufacturing, there's alwayssomething that you can find
that's a need, as time continuesto change and move on.
And then, once you identifythat need, understand the
(26:19):
lineage of that need or thatproduct, and then find out where
you can fit in to provide avalue add that uses speed, to
provide a service or provide aproduct to whatever that end
product is going to beSubcomponents, subassembly, part
, whatever the case may be andknow-how, and then make sure you
(26:40):
provide a value to yourcustomer along with that and
that's been the biggest thingthat I've utilized- I mean
that's really interesting and Ihope people are listening.
Speaker 1 (26:47):
I never, you know, I never really considered,
considered it's too late for meto have a manufacturing career,
but I certainly, when I thinkabout you, know what you just
said.
Subassembly, there are pathwaysof entry for those
entrepreneurs.
Speaker 2 (27:03):
Absolutely.
Speaker 1 (27:04):
Am I correct in that?
Speaker 2 (27:05):
There is.
I actually buy things from Asiamyself, okay, and I use
sub-assembly packages along withthat.
So there's definitely, you know, some of the products that we
supply to other customers.
You know, and again, when youcan become part of their DNA,
then you can become a value addto them in whatever area they
need.
(27:25):
You know it's understandingtheir needs closely.
Speaker 1 (27:28):
And you know what's interesting For the other part
of my business I'm a consultant.
I was on the phone earliertoday talking to someone who has
a pretty innovative product andI was just sitting there
thinking that perhaps I need toconnect them with someone like
you, because the product hasn'tbeen created yet and you know
you have to think about everyaspect of it, because you know
(27:51):
you want a minimally viableproduct but you don't want it to
cost a million dollars.
Speaker 2 (27:55):
That's exactly right yeah.
Speaker 1 (27:57):
And if it costs a million dollars.
Some price points are that waybecause it's an expensive
product, but the vast majorityof these aren't so are there.
Is there a way for innovatorsto interact with manufacturers
like yourself?
Speaker 2 (28:12):
Yeah, they have to know what they want.
An innovator is someone thathas the creative mindset that
identifies the need.
And the key thing is how dothey bring that to market, how
do they give it life, how dothey give it the ability to be
systemic, moving forward as aproduct that can survive long
term and recognizing thateverything has iterations in
(28:35):
terms of life cycle, and to beable to manage that and still do
well, and I think what has tohappen is they have to have the
mindset of okay, how do I makesure this is the best cost
scenario that I can come up with, along with the right kind of
pricing strategy to get it intothe market that creates a demand
for the product.
It's economy, one-on-one.
(28:56):
It's about demand andrecognizing the need to satisfy
the need and then how Icommunicate that to the
marketplace.
That's going to be key.
Speaker 1 (29:05):
Okay, okay, and it's interesting.
Well, you know, we just havetime for maybe one or two more
questions, but these are goingto be fun ones.
So if you can go back to yourfirst year as a business owner,
would you do something different?
What would you do differently?
Speaker 2 (29:20):
Wow, what would I do differently?
Everything.
I was lucky to have someencouragement from my father to
go ahead and step out and do mything.
I think the biggest thing Iwould do differently is just
make sure I I mean you can havesome deep conversations with
wonderful business leaders andmy peers A lot of my peers are
(29:49):
multimillionaires and they'vedone real well in corporate
America or they have their owncompanies as well.
So I still dialogue with themtoday in a different sphere.
But right, when you start yourown entity, you own everything.
Having a better board scenarioto bounce things off of would
have done me, you know, donewell for me, or just the right
(30:10):
kind of constituents to talk toabout different things to make
sure I don't make certainmistakes that I knew I was going
to make.
The key thing is you make fewermistakes than the wins you have
, and I was fortunate enough todo that before.
Speaker 1 (30:23):
Yeah Well, that's a huge one.
You know, having started acouple of businesses, you don't
want to go it alone and you wantfolks that hold you accountable
, of course, but that you canhave that deep conversation,
because I really, you know, Ireally think people are sleeping
on manufacturing, think peopleare sleeping on manufacturing,
and when they think about it,they think about you know, this
(30:52):
bottle, or they think about atoy or a piece of clothing, but
manufacturing is all over themap, from this mic I'm using to
the syringe that the doctor'susing to the MRI machine.
So there's a lot involved in it, and so I really appreciate
your comments about what youwould do differently as you
started.
Last question for you what doyou think of the?
Do you think?
(31:12):
What's your thought on thefuture of American manufacturing
?
Speaker 2 (31:15):
I think it's going to always be there.
There'll be a need for someform of manufacturing.
You know reliance on othercountries.
That's going to still takeplace, but again, the more you
rely on other countries such asChina, vietnam, places where I
mean that business is actuallymatriculating from those
locations to other low-costareas now as well, there's going
(31:39):
to always be a need for afoundation in the base you know,
we're definitely moving intothe AI generation, the data
centers that are out there tofacilitate AI and the use of AI
in different industries.
The key is finding where yourniche is, where you can fit in,
and providing a product orservice in the manufacturing
(31:59):
area.
That's going to require youbeing in the US.
Speaker 1 (32:04):
You know it's interesting.
You just said something thatmade me think that that might be
what you're thinking.
Should I consider a data centerlike a manufacturing location
or no?
Speaker 2 (32:15):
Well, the you know the data center is going to be
used to drive the information,the information and the
knowledge and the know-how.
It's definitely the latestbiggest boom that's out there
right now and the key thingthere, of course, is how much
power can you get at anyspecific location to run the
data?
So, of course, powerconsumption is a huge thing
(32:38):
right now.
You've got companies lookingfor gigawatts and megawatts of
power to facilitate and run datacenters, and a lot of the old
manufacturing sites have a goodamount of power that's not being
utilized.
So the key is can you findthose locations and then can you
capitalize on those sites toturn them into data-oriented
centers.
Speaker 1 (32:58):
Well, terry, you really helped.
Well, you know, I alwaysthought that and I could be
wrong that the data centerswould be something that a chat,
gpt or an Apple or whomeverwould not give up their control
because it's the data componentof it.
But as an innovator here, maybeI'm not thinking correctly that
(33:19):
they would give it up.
If data centers are somethingthat folks can build to help
house information for people,that's pretty important.
Speaker 2 (33:26):
That's another angle.
There's several universitiesnow that have disciplines
specifically designed to manage,run and work in data centers.
Specifically, University ofMissouri is one that I deal with
Wow, I deal with.
And there's others that havedisciplines specifically for
engineers or systems engineersto run, to manage, to deal with
(33:48):
the hardware in the data center.
Speaker 1 (33:50):
Terry, I want to thank you for being on the show.
I know you got to go back andrun your massive organization,
and so my last question to youis I want you to complete this
sentence for me the future ofAmerican manufacturing belongs
to who?
Speaker 2 (34:05):
To those who understand how to be productive
and bring a benefit and value tothe customers they serve.
Thank you, sir, it's not thebig that beat the small, it's
the fast that beat the slow.
Speaker 1 (34:13):
Terry, thank you for pulling back the curtain on the
manufacturing world.
People got a chance to see it.
Your stories prove thatownership isn't just about
making money.
It's about building systems andcreating opportunities, and I
love just how you're thinkingabout it and how you're shaping
your community with intention.
Thanks for listening to theNext Big Thing.
(34:36):
I'm your host, Keith D Terry.
If you've enjoyed this episodeand you'd like to support this
podcast, please share it withothers, post about it on social
media or leave a rating and areview.
To catch all the latest from me, you can follow me on my
YouTube channel at Keith D Terry.
If you want to recommend aguest, please email me at info
(34:57):
at terryperformancegroupcom.
This has been produced by yourhost and Jade Productions.
Keith D Terry, a consultant, a coach and a serial
entrepreneur.
The mission here is to teach,inspire and to motivate.
Today's episode is going tochallenge what you think about
American business.
If you ask most people wherewealth is built in this country,
they'll tell you tech, startups, wall Street, real estate.
(00:21):
Hardly anyone will ever saymanufacturing.
Why?
Because we've been toldmanufacturing is dead in America
, that all the jobs are overseas, the factories are gone and the
only way to win now is to gohigh tech.
I say again, the only way towin is to go high tech AI.
The truth is, manufacturing isvery much alive and for the
(00:41):
people who know how to own it,lead it and grow it, it's one of
the most powerful wealthbuilding engines left in this
country.
It creates jobs, it shapescommunities and it builds
legacies that last forgenerations.
I just want to give you a fewfactual points to keep in mind
before I introduce my guest.
(01:02):
Today, manufacturing has about12.7 million factory jobs.
Now that's below the early 2000level, but it is roughly back
to the pre-pandemic numbers.
The output share manufacturingconsistently and check this out
consistently contributes aboutone-tenth of the US GDP.
(01:22):
Now, this is enormousconsidering a country that's
dominated by services.
So let's talk about it, let'sget into it.
Today, my guest has lived thisreality.
Mr Terry Atwater is the ownerand president of Inova
Investments LLC, nationalMaterials Transport LLC and
Inova Care LLC If I'm pronounpronounced it, he'll correct me
(01:44):
on the other end of this,overseeing strategic direction
and growth for multiplebusinesses.
With more than 25 years ofexperience, Terry has worked
with industry giants likeGeneral Electric, idx
Corporation and BerkshireHathaway and has collaborated
directly with legendary leaderssuch as Jack Welch, warren
(02:05):
Buffett.
He's been featured inbestselling book Real Change
Leaders, holds an engineeringand he holds an engineering
degree from Western MichiganUniversity and an MBA from the
University of Notre Dame.
Beyond the boardroom, terry isa devoted family man, a
motivational speaker and alifelong student of achievement,
and part of the greatestfraternity in the world Kappa,
(02:27):
alpha, psi FraternityIncorporated.
Terry, welcome to the show.
How are you, my friend?
Speaker 2 (02:32):
Yo, I'm doing great Good to be with you and it's a
great platform you have here aswell.
Thank, you.
Speaker 1 (02:37):
Thank you very much.
So, as we get into this, tellmy listeners a little bit about
you.
I know about you, but theydon't, so where do you come from
?
Speaker 2 (02:45):
Well, I'm originally from Evansville, Indiana, so I'm
a Hoosier by birth.
but I grew up here in theChicago area.
Most of my life I wrench rack,played football.
Of course, engineering is mybackground and I had the
privilege, of course my father,who's also a Catholic, both you
and I of seeing him work incorporate America and also be an
(03:06):
entrepreneur as well.
So of course, my mind wasalways biased towards being an
entrepreneur and at the age ofnine and at the age of 10, I was
in the summertime I was in theoffice calling buyers for
pricing on parts and things ofthat nature, which, of course,
kind of when you indoctrinate ayoung person's mind into
something, they take hold of it.
So, although I worked incorporate America for a long
(03:27):
period of time, you know, theinnate desire of owning my own
has always been in me.
Speaker 1 (03:32):
That's great, but before we get into that, I just
found out something I didn'tknow.
You ran track and you playedfootball.
What was your?
Speaker 2 (03:38):
what was your heat?
Well, let's just say that inthe state of Illinois I'm still
one of the top spinners.
Well, let's just say that inthe state of Illinois I'm still
one of the top spinners.
If you go look at the recordbooks, 1986, came in third in
the state and that was thefastest time ever in the state
of Illinois, and it still standstoday.
So we had some smoke back inthe day.
And of course you know, Iplayed football in college as
well and ran track there too.
Speaker 1 (04:00):
Okay, I didn't know that.
What position in football?
Defensive back quarterback?
Oh, so you were out therehitting folks.
Okay, that's the only way to doit.
I love it.
I love it.
Thanks for that.
So now let's jump into thisconversation.
So you've led companies acrossthe globe and work with some of
the most iconic business leadersin history.
What's the thorough line inyour journey that shaped how you
(04:24):
lead today?
Speaker 2 (04:25):
Yeah, just not being afraid of change is a huge thing
For me.
Always using my career as a wayto learn more, to gain
competencies that you need torun companies, to make
thought-provoking decisions thataffect the bottom line, and
being able to just go ahead andtry different areas, you know,
(04:47):
give me the biggest problem youhave.
Let me go tackle that.
That's a way of understandinghow to be a problem solver, to
generate income or to generateproductivity and improve bottom
line.
So that's how I got my start incorporate America and that's
what I kind of use as myplatform to always be in
manufacturing, so to speak.
And then, of course, I was ableto go international with a lot
(05:09):
of those opportunities as well,and that's been an eye-opening
endeavor for me, which hasallowed me to do what I'm doing
today.
Speaker 1 (05:17):
Yeah and I want to.
So when you were nine, were youjust trying to be a good son,
helping out his dad?
Did you see the connection towhere you are now?
That's a big, bold question andask.
So tell me about that.
Speaker 2 (05:31):
It was one of those things where you know you're out
of school for the summer andyou know my mother wasn't going
to let me sit around at thehouse, so of course she would
drop me off to my father'sbusiness and then all the people
would give me things to staybusy.
And so they would give me quotesheets to call certain people
to get pricing, and of coursethey would call them ahead of
(05:52):
time.
Listen, terry Atwater Jr isgoing to give you a call.
Work with them on gettingpricing that we need pricing
from you on these certain items.
So that's how I got startedreally looking at businesses and
looking at products.
Then, of course, just workingin the summertime for my father
as well.
Out on the manufacturing floor Iused to drill holes into pipes
(06:14):
for garbage cans.
So when he did a lot of thatkind of work for the state of
North Carolina, I've doneeverything from working drill
presses to sanding machines.
Okay.
Then, of course, in the officedealing with buyers, customers,
we had a lighting store as wellback in the day when I was
junior high school.
So I got a chance to work onall kinds of lighting fixtures
(06:36):
for various home builders, thosetypes of things.
So just understanding thenature of how to work in that
kind of setting kind of biasedmy mind towards being able to
know every aspect of businesswhen it came to just the spirit
that I have within me.
Speaker 1 (06:51):
Well, that's great.
So you work with some largecompanies?
I did, and was there a pull tocome to own your own?
Or what was the fight likestaying in corporate America
versus jumping out and owningyour own?
Speaker 2 (07:06):
Well, initially, you know, I wanted to go into
corporate America because Iwanted to learn what I didn't
know, and I chose GeneralElectric out of college because
they had a program called theManufacturing Management Program
where it gave you theequivalent of five years of
experience in different areas ofmanufacturing over a two-year
period of time.
So it was an accelerated programthat they had a corporate entry
(07:28):
program, that I traveled andworked in large, high-volume
companies to special-orientedengineering companies over a
two-year period of time, whichgave me a good foundation.
And then I went on to the auditstaff and did a lot of work and
looking at different businessmodels, different business
practices for GE and thenrunning companies as a result of
(07:51):
that.
So everything I did incorporate America was designed
to give me the background, theplatform, the global vision and
the global insight of what takesplace, so that I could do my
own thing.
Of course, eventually and Istayed longer than I planned on
staying in corporate America,you know things were rolling
pretty well.
But then I made the decision itwas time to go ahead and do my
(08:13):
own thing and I was gratefulthat I did it when I did it.
Speaker 1 (08:17):
But I wish.
Speaker 2 (08:17):
I would have done it sooner, as a matter of fact.
Speaker 1 (08:19):
Now take me to that.
Let's talk about that decision.
Sure, was that a tough one, orwas it a no-brainer?
I mean, I would assume you weremarried with kids and mortgages
and was blessed accordingly asa result of it.
So, security-wise, I felt goodwhen it came to that.
Speaker 2 (08:53):
But what was really important was just the amount of
knowledge and experience Igained while being in corporate
America.
And you know, when you makemillions of dollars for other
folks and other companies andyou have the know-how, you know
you can choose to stay thattrack.
Nothing wrong with it.
But I wanted to control my owndestiny.
I wanted to control my ability.
I wanted to own every aspect ofwhat I do.
If it fails it's my fault andif it succeeds it's my fault.
(09:14):
And here, 14 years later, I'mblessed to be doing what I'm
doing right now.
I still get calls to come backto corporate America now, and
I've been out of it for a longperiod of time.
But I know how to look at abusiness, evaluate it,
understand where the warts arelocated or the opportunities for
significant improvement andmake a decision whether it's
(09:36):
something that I can do.
You know, do and benefit fromor not.
Speaker 1 (09:40):
Right, and you know you've acquired over 30
businesses, or what's the number?
Speaker 2 (09:45):
Yeah, so in my corporate career you know,
acquired over 30 differentcompanies for different entities
, whether it be GE, IDEX orBerkshire Hathaway, Did some
really good deals with all ofthem, and every deal has its own
characteristics.
Every opportunity has its ownstrategic plan of why you're
(10:05):
acquiring it and why it'scritical to whatever business
you're working for.
So I was able to create thestrategic map and I'll do a
shout out here.
There's a gentleman named KevinHostetler who I worked for at
IDEX Tough guy to work for, butlearned a ton from him and it
gave me a really good foundationto really just do some great
things off of and used all thatto grow and develop and as a
(10:30):
result of that, I was able to domy own thing.
Speaker 1 (10:32):
So I'm curious do you have a process by which you
look at businesses, even today?
Speaker 2 (10:37):
I do, I do, I do and I don't do too many acquisitions
today.
Of course, most everything I dois organic, but the same kind
of strategy that you use to lookat opportunities for
acquisitions is a strangestrategy.
You use for organic growth aswell, and so I use the same kind
of process for organic growthto look at where it's
synergistic with what I do todayor how it can be additive in
(11:01):
nature to what I'm doing todayto create the ability to reach
into a customer and become partof their total system to support
their needs.
Speaker 1 (11:09):
Okay, so let's talk current day.
See, trump's been talking abouttariffs and wanting to bring
things back.
What makes sense of what'shappening from a manufacturing
standpoint?
Speaker 2 (11:21):
I'm kind of a supporter of that.
To a certain degree it helps meout.
Speaker 1 (11:25):
Oh yeah.
Speaker 2 (11:26):
You know I've had so many inquiries over the last
geez, four and a half monthsabout things that we're
currently doing right nowalready in North America, to add
to what I'm already doing.
So of course, we're judiciousabout how we look at it.
We're judicious about ourcosting mechanisms in order to
(11:46):
make things happen.
I have a really good team thatI'm able to work with to make
sure we make the right kind ofdecisions for the company and to
move it forward.
But for what I can see rightnow, there hasn't been a
significant impact.
But we're going to start seeingthe impact over the next four
to 18 months in terms of thetariff cost, things of that
(12:07):
nature.
It'll reset itself and, ofcourse, it's going to drive more
manufacturing back this way,because the inquiries are pretty
strong when it comes to thatright now, from what I can see.
Speaker 1 (12:16):
Now, when you say it'll reset itself, what do you
mean by that?
Speaker 2 (12:19):
Yeah.
So because of the tariffs, themarket levels are going to reset
themselves.
I see Companies in business togenerate income for their
shareholders or for the ownersof those companies.
So of course the unfortunatepart about that as a consumer
we're going to see some level ofinflation.
The question is how much willwe see and how much productivity
(12:44):
can be gained to avoid passingthat cost on to customers?
And of course that's kind ofthe philosophy I've always used
it's never the big that beat thesmall, it's always the fast
that beat the slow.
And so of course I focus onspeed and productivity versus
size.
Speaker 1 (12:56):
Okay.
So that's interesting becauseyou know, before I get into my
preamble, a little bit more onwhat's happening now.
Do you think that themanufacturing in the US can
build up enough and quicklyenough?
Because you just made something, you just said something pretty
powerful.
It's not the big versus small,it's just low versus fast.
You know they can't buildfactories quick enough, so
(13:21):
what's your perspective on thetime frame that we're talking
about?
Speaker 2 (13:25):
Yeah, I think.
I think it's definitely overthe next five to 10 years.
Ok, not going to be overnight,you know a snapshot for sure.
It's going to be tough from abehavioral point of view for the
government to go retroactive onthat and take them off, because
(13:47):
the income is going to flow inand, of course, income is what
governments need.
So, whether you like thepolitics or not, from a business
point of view, it is what it isin terms of the change in
dynamics that's going to takeplace associated with the
tariffs.
Speaker 1 (14:03):
So you think the tariffs are going to stick?
Speaker 2 (14:06):
I think a good majority of them are going to
stick.
You may see some fluctuation insome of the rates, but for the
most part it's going to bepretty sticky.
I'm pretty certain of that.
Speaker 1 (14:16):
Only because, again, once you get used to seeing the
cash flow roll in, because again, once you get used to seeing
the cash flow roll in, it'sgoing to be tough to turn that
valve off and say, hey, no,we're not going to take that in.
Well, you know.
And so now that gets me intokind of the power of
manufacturing ownership.
And so I made a statement thatyou can create wealth on the
(14:37):
manufacturing side.
I believe that.
Do you concur, or do you see ita little different than I?
Definitely concur.
Speaker 2 (14:44):
The key is where you choose to focus on, number one
and number two, how youintroduce productivity into your
processes.
I'm never going to haveChina-level costs.
I spent years moving productsfrom the US to China US to
Mexico first, then US to Chinain second.
We're to Mexico first and US toChina in second.
We're never going to be at thesame level as China, vietnam,
(15:07):
those type of companies, butwhere you can make improvements
is productivity and speed,depending on what industry you
are in Things like clothing,maybe, some toys, things of that
nature they will probably stillbe, you know, offshore to a
certain degree.
But in the areas that I focuson in terms from a manufacturing
point of view, for packagingcompanies and for product
(15:29):
companies that integrate ourproducts into theirs, there'll
be good opportunities for thosethings to come back, and we're
already seeing it.
Speaker 1 (15:37):
Okay, so help me, terry, to understand the
manufacturing landscape.
You know, in my mind, as aproduct innovator, I've done a
number of things broughtcompanies and products to market
, but I never thought about thelogistics of transportation or
(15:58):
housing.
As a manufacturer, how do youthink about it?
Help my listeners to understandthe ecosystem on the
manufacturing side.
Speaker 2 (16:06):
Yeah, I think the biggest thing is number one.
When you produce a product fora customer, you try to figure
out how many more services canyou introduce to them to support
their operations.
Okay, so it literally went fromI can produce a product for you
, I can also store it for youfrom a distribution point of
view.
(16:26):
And oh, by the way, if you want, I could put it on a box truck,
a semi truck, deliver it toyour customers or to another
location for you in betweenoperations as well.
And that's kind of how we moveddown the continuum of
manufacturing to logistics, topackaging and then to logistics
as well, by being able to justbe in all those various areas.
Speaker 1 (16:47):
So that's pretty powerful.
I hope folks are reallylistening.
So what do you think is thebiggest misconception about
manufacturing today?
Speaker 2 (16:56):
That you can't generate enough income to have a
sustainable entity long termand to employ the right kind of
people to maintain, to run itand to focus on it.
There's definitely a good baseof knowledge that's out there.
That's manufacturing related.
There are great schools, tradeschools that have great tool and
die individuals that have greattechnicians that you can even
(17:20):
groom and learn and move intoyour organizations.
Trades are going to be whereit's going to be at longer term
because the trades are wherewe're seeing the need for good
quality individuals welders,yeah yeah, mold and dye experts,
electricians you know all ofthose various areas that require
(17:42):
some type of trade support,along with the new technologies
that are out there in thosemanufacturing areas to use
equipment for that.
So a combination of technologyplus trade-oriented individuals,
that's powerful.
And again, it's on speed, noton size.
Speaker 1 (18:00):
Well, you know it's interesting.
I've heard people say, withmanufacturing coming back to the
United States, it won't happenbecause the pricing structure is
going to be too much.
You know, an American welder orAmerican manufacturing worker
makes way too much, or I won'tsay way too much, but makes more
than a Mexican worker orChinese worker.
But I heard you say somethinginteresting It'll level set
(18:23):
itself, It'll reset itself.
Do you believe that all kind ofmanufacturing can come back to
the United States shores or isthere only a certain type?
Speaker 2 (18:32):
Yeah, I don't believe all types will be able to come
back.
I definitely agree with that.
Like I mentioned earlier, Idon't believe that clothing will
come back like we think it will, nor toy manufacturing, those
type of things.
But the things related to theautomotive industry, things
related to more house-orientedgoods, housing-oriented goods,
(18:52):
more things that require a laypoint identification, which I do
a ton of as well, such aspackaging type materials, those
types of things that are, youknow, that would not be cost
advantage to bring from overseas, those things are flourishing
tremendously.
I mean they'll do well.
So, yeah, it won't be foreverything, but there are
definitely huge opportunitiesthat are coming back across this
(19:13):
way.
Speaker 1 (19:13):
Well, I can't escape this conversation without
talking about AI.
I would assume, having worked,you know I've worked for some
large companies, diagnosticcompanies, abbott being one of
them.
I've never seen them assemble,but I know when we were
developing it on the R&D side Isaw it.
What's your thought about AI onthe manufacturing side?
Is it going to help bring thecost down?
Speaker 2 (19:37):
raise the cost up, or what's your thought?
Yeah, I think it's going todefinitely help the cost
scenario in manufacturing.
When it comes to thestaff-oriented positions, the
direct touch positions thattouch the product, that touch
the level of operation, you'restill going to have to have
individuals to play a key rolein those type things.
Give you an example you know,and if you go into an Amazon
warehouse, you know you have alot of robotics that are moving
(19:59):
around products all over theplace, but you still have to
have the human interaction tomake sure things are addressed
properly within thosemanufacturing or those packaging
environments, and that's goingto be the case in manufacturing
also.
For example, will I need 36people to run 36 pieces of
equipment?
No, but will I be able to use12 people or 10 people to run 36
(20:19):
pieces of equipment?
Absolutely, and that's how youlook at productivity and speed
from a cost point of view, usingAI or using technology to be a
guide for you.
Speaker 1 (20:30):
Well, you know, because I think wealth can be
created.
Do you have any thoughts on,you know, now we have Trump
putting tariffs out, there is ademand now.
The hopeful reaction is that alot of these companies will now
invest in the United States.
Any thought on what impact amanufacturing plant can have on
(20:53):
a community?
I'm interested in that because,you know, I have a mother who
we have a family home down inCanton, mississippi and one of
the auto manufacturers I forgetNissan put a huge plant down
there.
I saw the impact there.
But from a manufacturingstandpoint, when you think about
(21:13):
America, any idea where youthink they might end up landing?
Speaker 2 (21:18):
Well, I can't speak specifically on some companies
but for myself.
You know, I chose to focus mostof my operations in the Kenosha
Wisconsin Zion, illinois,pleasant Prairie, wisconsin area
, specifically because, numberone, I want to touch everything,
you know, I want to see all thedifferent companies.
(21:39):
But, number two, we're locatedin communities where people of
color, who I focus on heavilyfrom a ministry point of view
and I'll call it a missionarywork If I can help our people
get an opportunity to do greatthings and be accountable for it
and the results, that helps thecommunity overall and that's
what I focus on.
To give you an example, westart at 6 o'clock in the
(22:01):
morning with all my operations,6 am in the morning and their
day typically ends at 2.30, 3.30, or 4.30, depending on what
their roles are and what they do.
And the whole goal in doingthat was, number one, you don't
have time to fool around atnight if you've got to be up at
6 o'clock in the morning to beat work, Right, so we did it for
that reason.
And then, number two, it givesthose who may not have an
(22:23):
opportunity because of somehistorical things they did in
high school or whatever the casemay be, I see To reintroduce
themselves into the workindustry.
We give them a chance.
Be on time, be constructive.
You can then stay with us or wecan give you a recommendation
to move on to other companies bywhat you do showing up on time,
being accountable and being aproductive person in our
(22:46):
organization and it's worked outreal well for us to be able to
see people go and flourish atother locations or to stay with
us either way, because we'repositioned to be able to help a
lot of people do good things forthemselves.
Speaker 1 (23:00):
Well, good for you.
I didn't know that.
I mean, that's prettyremarkable Six.
You know I'm up way earlierthan that most days, you and me
both.
I just can't help myself.
Once you lock in, that's whatyou lock in at, but that's great
when you think aboutmanufacturing.
You chose Wisconsin and Zion.
You know there's some hugefacilities there.
(23:23):
Was that one reason, anotherreason why you chose that versus
Chicago or where you're fromIndiana?
Speaker 2 (23:30):
Yeah, well, I grew up in this on the border area of
Wisconsin and Illinois, so ofcourse I'm familiar with the
landscape there.
And then also I chose mostly onthe Wisconsin side of the
border because there's someclear tax advantages that I'm
able to receive to set upmanufacturing there, Pretty
plugged in with some of the youknow the establishment in those
(23:50):
areas, to be able to do somethings to help the community,
which of course is what I liketo do as well.
And then, quite frankly, a lotof my large customers are in
that geographic region also,Most of my customers are within
a 200 mile radius of where I'mlocated at from terms of a
manufacturing point of view andthen my trucking goals all over
(24:12):
the country.
So that's a whole differentthing.
Speaker 1 (24:14):
Wow, wow.
So how big you know.
Talk a little bit abouttrucking, because trucking is
also it was incredibly huge orprofitable for a lot of folks
before the pandemic.
You see, I mean you've been inat the forefront of a lot of
these shifts.
What do you see happening onthe trucking side?
Speaker 2 (24:32):
Yeah, you have to be judicious in whom you're working
with and what you're doing.
Of course, it was a huge boomduring COVID and post-COVID to a
certain degree, and all of asudden things got back to a
normal rhythm.
And what's been nice for mycompany is, you know, I have
about 30 semis on the road, abunch of straight trucks.
(24:56):
Also, there's a lot of the workwe do or with customers that I
do work for in all of mywarehouses and in my
manufacturing.
So we, you know I don't move aproduct if I can't generate some
revenue or an income from it,of course, and we've been
fortunate enough to have a lotof dedicated work that we can do
and I got good people that areable to maintain that and do a
good job, you know, with, ofcourse, the right kind of
(25:17):
nudging and oversight.
I'll call it yeah.
Speaker 1 (25:20):
So for those folks that are listening to this, or
people who've never reallyconsidered manufacturing as a
career, any advice.
I mean, what would you tellfolks that might be considering
this either as a career or aninvestment?
Speaker 2 (25:34):
Yeah, absolutely.
If you look at the US and I'llcall the country at large we are
definitely product-drivenindividuals, so we like the next
widget.
We like any kind of opportunityfor us to, so we like the next
widget.
We like any kind of opportunityfor us to support or show some
type of product, no matter whatit is, and every product has a
(25:56):
root.
It has a beginning and the keything is finding out what are
the beginnings of all of thosevarious type items that you work
on and becoming part of thatprocess and being a part of that
product process and being apart of that product.
So my encouragement is you know, if you're ever interested in
manufacturing, there's alwayssomething that you can find
that's a need, as time continuesto change and move on.
And then, once you identifythat need, understand the
(26:19):
lineage of that need or thatproduct, and then find out where
you can fit in to provide avalue add that uses speed, to
provide a service or provide aproduct to whatever that end
product is going to beSubcomponents, subassembly, part
, whatever the case may be andknow-how, and then make sure you
(26:40):
provide a value to yourcustomer along with that and
that's been the biggest thingthat I've utilized- I mean
that's really interesting and Ihope people are listening.
Speaker 1 (26:47):
I never, you know, I never really considered,
considered it's too late for meto have a manufacturing career,
but I certainly, when I thinkabout you, know what you just
said.
Subassembly, there are pathwaysof entry for those
entrepreneurs.
Speaker 2 (27:03):
Absolutely.
Speaker 1 (27:04):
Am I correct in that?
Speaker 2 (27:05):
There is.
I actually buy things from Asiamyself, okay, and I use
sub-assembly packages along withthat.
So there's definitely, you know, some of the products that we
supply to other customers.
You know, and again, when youcan become part of their DNA,
then you can become a value addto them in whatever area they
need.
(27:25):
You know it's understandingtheir needs closely.
Speaker 1 (27:28):
And you know what's interesting For the other part
of my business I'm a consultant.
I was on the phone earliertoday talking to someone who has
a pretty innovative product andI was just sitting there
thinking that perhaps I need toconnect them with someone like
you, because the product hasn'tbeen created yet and you know
you have to think about everyaspect of it, because you know
(27:51):
you want a minimally viableproduct but you don't want it to
cost a million dollars.
Speaker 2 (27:55):
That's exactly right yeah.
Speaker 1 (27:57):
And if it costs a million dollars.
Some price points are that waybecause it's an expensive
product, but the vast majorityof these aren't so are there.
Is there a way for innovatorsto interact with manufacturers
like yourself?
Speaker 2 (28:12):
Yeah, they have to know what they want.
An innovator is someone thathas the creative mindset that
identifies the need.
And the key thing is how dothey bring that to market, how
do they give it life, how dothey give it the ability to be
systemic, moving forward as aproduct that can survive long
term and recognizing thateverything has iterations in
(28:35):
terms of life cycle, and to beable to manage that and still do
well, and I think what has tohappen is they have to have the
mindset of okay, how do I makesure this is the best cost
scenario that I can come up with, along with the right kind of
pricing strategy to get it intothe market that creates a demand
for the product.
It's economy, one-on-one.
(28:56):
It's about demand andrecognizing the need to satisfy
the need and then how Icommunicate that to the
marketplace.
That's going to be key.
Speaker 1 (29:05):
Okay, okay, and it's interesting.
Well, you know, we just havetime for maybe one or two more
questions, but these are goingto be fun ones.
So if you can go back to yourfirst year as a business owner,
would you do something different?
What would you do differently?
Speaker 2 (29:20):
Wow, what would I do differently?
Everything.
I was lucky to have someencouragement from my father to
go ahead and step out and do mything.
I think the biggest thing Iwould do differently is just
make sure I I mean you can havesome deep conversations with
wonderful business leaders andmy peers A lot of my peers are
(29:49):
multimillionaires and they'vedone real well in corporate
America or they have their owncompanies as well.
So I still dialogue with themtoday in a different sphere.
But right, when you start yourown entity, you own everything.
Having a better board scenarioto bounce things off of would
have done me, you know, donewell for me, or just the right
(30:10):
kind of constituents to talk toabout different things to make
sure I don't make certainmistakes that I knew I was going
to make.
The key thing is you make fewermistakes than the wins you have
, and I was fortunate enough todo that before.
Speaker 1 (30:23):
Yeah Well, that's a huge one.
You know, having started acouple of businesses, you don't
want to go it alone and you wantfolks that hold you accountable
, of course, but that you canhave that deep conversation,
because I really, you know, Ireally think people are sleeping
on manufacturing, think peopleare sleeping on manufacturing,
and when they think about it,they think about you know, this
(30:52):
bottle, or they think about atoy or a piece of clothing, but
manufacturing is all over themap, from this mic I'm using to
the syringe that the doctor'susing to the MRI machine.
So there's a lot involved in it, and so I really appreciate
your comments about what youwould do differently as you
started.
Last question for you what doyou think of the?
Do you think?
(31:12):
What's your thought on thefuture of American manufacturing
?
Speaker 2 (31:15):
I think it's going to always be there.
There'll be a need for someform of manufacturing.
You know reliance on othercountries.
That's going to still takeplace, but again, the more you
rely on other countries such asChina, vietnam, places where I
mean that business is actuallymatriculating from those
locations to other low-costareas now as well, there's going
(31:39):
to always be a need for afoundation in the base you know,
we're definitely moving intothe AI generation, the data
centers that are out there tofacilitate AI and the use of AI
in different industries.
The key is finding where yourniche is, where you can fit in,
and providing a product orservice in the manufacturing
(31:59):
area.
That's going to require youbeing in the US.
Speaker 1 (32:04):
You know it's interesting.
You just said something thatmade me think that that might be
what you're thinking.
Should I consider a data centerlike a manufacturing location
or no?
Speaker 2 (32:15):
Well, the you know the data center is going to be
used to drive the information,the information and the
knowledge and the know-how.
It's definitely the latestbiggest boom that's out there
right now and the key thingthere, of course, is how much
power can you get at anyspecific location to run the
data?
So, of course, powerconsumption is a huge thing
(32:38):
right now.
You've got companies lookingfor gigawatts and megawatts of
power to facilitate and run datacenters, and a lot of the old
manufacturing sites have a goodamount of power that's not being
utilized.
So the key is can you findthose locations and then can you
capitalize on those sites toturn them into data-oriented
centers.
Speaker 1 (32:58):
Well, terry, you really helped.
Well, you know, I alwaysthought that and I could be
wrong that the data centerswould be something that a chat,
gpt or an Apple or whomeverwould not give up their control
because it's the data componentof it.
But as an innovator here, maybeI'm not thinking correctly that
(33:19):
they would give it up.
If data centers are somethingthat folks can build to help
house information for people,that's pretty important.
Speaker 2 (33:26):
That's another angle.
There's several universitiesnow that have disciplines
specifically designed to manage,run and work in data centers.
Specifically, University ofMissouri is one that I deal with
Wow, I deal with.
And there's others that havedisciplines specifically for
engineers or systems engineersto run, to manage, to deal with
(33:48):
the hardware in the data center.
Speaker 1 (33:50):
Terry, I want to thank you for being on the show.
I know you got to go back andrun your massive organization,
and so my last question to youis I want you to complete this
sentence for me the future ofAmerican manufacturing belongs
to who?
Speaker 2 (34:05):
To those who understand how to be productive
and bring a benefit and value tothe customers they serve.
Thank you, sir, it's not thebig that beat the small, it's
the fast that beat the slow.
Speaker 1 (34:13):
Terry, thank you for pulling back the curtain on the
manufacturing world.
People got a chance to see it.
Your stories prove thatownership isn't just about
making money.
It's about building systems andcreating opportunities, and I
love just how you're thinkingabout it and how you're shaping
your community with intention.
Thanks for listening to theNext Big Thing.
(34:36):
I'm your host, Keith D Terry.
If you've enjoyed this episodeand you'd like to support this
podcast, please share it withothers, post about it on social
media or leave a rating and areview.
To catch all the latest from me, you can follow me on my
YouTube channel at Keith D Terry.
If you want to recommend aguest, please email me at info
(34:57):
at terryperformancegroupcom.
This has been produced by yourhost and Jade Productions.
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