Some Great Thoughts From Our Own Craig Faust

Prior to making final preparations for my talk for the International Business Association Wednesday night, I was going through the PIA (Printing Industries of America) Magazine. I came across a very fine article, "Prepare for the Upturn-Think Big, Think Small", from Milwaukee area's own Craig Faust, President & CEO of Hi-Liter Graphics, in Burlington.

I have followed Craig for some time now; first becoming acquainted with him through Jim Lacy of Inland Press, which Craig had purchased. Craig has quietly done things right, stood by his principles, and built a fine organization. The way he puts people first, even in difficult times, is especially noteworthy.

In the article, he focused on the opportunities that abound if we prepare for the inevitable upturn, stay disciplined, and increase our marketing efforts. No standing pat with Craig, or as he puts it, no paralysis.

Something which I have been emphasizing repeatedly is stating the importance of Strategic Planning, and the necessity of going through the process. Craig makes the point that, "Profit Leaders... have survived and grown by understanding their business profile and following their Strategic Plans."

On taking care of his employees: instead of just laying off people, he recognizes the need to invest in & keep his best people to be in position to reap the benefits of the upturn. Instead of cutting training expenditures, he makes the point that Profit Leaders outspend lesser performing printers.

Through their research, PIA has determined that innovative technology is most important to their members. Craig believes in involving his people in problem solving and new solutions. He shares information with them such as waste, spoilage, job costing, and even gross margin, to facilitate it. They believe that finding a less expensive way to produce a job is a better way to compete than selling it at a lower price.

We've all heard the expression, "the devil is in the details." At Hi-Liter the discipline is in the details. They are very serious about Lean Manufacturing, have budgets that track expenses compared to last month & last year, and watch their ratios.

In short, when we look positively to the future, take care of our people, plan and focus on the correct things, stay disciplined, and reduce costs rather than margins, we are simply practicing good business. It not only gets us through the downturn, it prepares us in the most effective way for the upturn.

Creativity sells, not only in troubled times, but in all times.