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FBN’s Liz Claman with David Hegenbarth, president of Federal Gear, and Patty Setlock, president of Fabrication Group LLC, on what they learned from ...
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Somewhat of a little bit of -- here in Cleveland what a shock but.
David taken -- of federal -- And -- set -- of fabrication group or two with the graduates from Goldman Sachs -- 101000 businesses first of all congratulations.
Thank you him that's a basic.
When you guys both applied to this you already have your businesses up and running.
Through I should say thick and -- But David what did you learn that is so much different than what you have learned when you got your MBA because you happen -- -- As a key opportunity I gain was the ability to work on the business and not in the business.
Billy take myself out of the day to day operations -- to work on growing the business sort of fighting the fires in the daily business.
Well that -- and that when you're running a small business all about fighting the fire -- it -- It is but you need to find the way to -- the business -- itself.
So that you can work on the business to make sure it continues to grow -- did you have that experience of what was the most important thing you learned.
One of the most important things I learned was developing a culture in my company.
And such -- core values in your mission statements that -- in him previous to that.
And then I put posted those -- the -- I learned then and one of the modules.
And employees are actually coming in means saying all is -- -- do you mean they had no vision in the company and I gave them the -- It's at eleven week program as we said not easy to get into because who wouldn't want.
Sort of that real world experience from with the program put together by Goldman Sachs Harvard Business School but also Babson which is one of the highest.
Most respected business schools out there what was the process like.
It's great that took us through nine different models and at the end -- those models culminated into a growth plan -- -- actually put an action right away.
And we've been able to do that federal gear.
-- -- -- -- -- -- -- -- Isn't part of it also sort of the -- that is a -- -- that and that's sort of pitch where you say here's what my business doesn't how you do it you make that the industrial metal teeth both small and large.
For all kinds of industrial applications -- Sure we -- and the pitch we've given -- it it formed a pitch it's very difficult to describe what we do.
So federal -- we cut teeth very simple because to.
That's right okay so there you are and and you as well you know you make architectural.
Metal for everything from canisters to balconies correct that is camera and then tell -- since she hasn't been in this program.
You seen any difference when it comes to hiring when it comes to revenues patent.
Yes I've hit an 85%.
Growth in my business and -- hired to find additional people look at this too much of a commercial that's unbelievable what about -- indicate that.
Actually put the growth Penn and place and in 2013.
Reported seeing a 100000 dollar worth of incremental -- -- how -- possible what is it what's the secret sauce.
I think it's dedication of the people in the program and you have to be committed to the program and your business.
So I think you use -- -- from the program be taken applied to your business and then you can grow.
What do you have to say to say -- Goldman Sachs who is is a business that put a half a billion into this program.
Cleveland is one of eleven cities and -- have to come to Cleveland they picked Cleveland.
Doesn't hurt that the president of Goldman Sachs by the way Gary Condit is from Cleveland but I think that they looked at this -- said this is an opportunity.
This isn't young what -- snapper start up territory.
-- -- -- -- does that say something about the is that sort of the stick to -- of -- of of the business heart.
Cleveland.
I believe song I mean it's it's definitely on the rise and it's growing and I'm so hip and -- mistakes and -- confidence in us to pursue this with us right what we expect to see great things from federal clearance application group.
Anybody that -- metal teeth -- first industrial architectural metal go to these guys in Cleveland thank you so much.
David -- -- and pat except -- by the way as I mentioned Gary -- the president of Goldman Sachs is going to be joining us live 4 PM eastern time.
In a wide ranging interview about this 101000 business program.
In -- taking what normally would be a company like Goldman which always just gigantic deals.
Really focusing on small business making an effort to create jobs in this nation and on top of -- -- -- apple get to the good stuff what does he think about equities right now treasuries.
He's an old commodities got by the way -- -- know if you -- do that's Alaska about commodities and much much more.
