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

For this MMT Chat, my guest is Charles Daniels CFO of Wepco Plastics in Middlefield, Connecticut. He is also one of MMT’s newer Editorial Advisory Board members. He shares his insights on the role of social media in manufacturing, how to improve the “business” side of a small mold shop, continually developing culture and an update on Wepco’s COVID outreach.  
#sales #education #marketing

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I met Charlie Daniels about four 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 30-minute 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, continually develop culture and an update on Wepco’s COVID projects/outreach.

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.
  • 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.
  • 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.
  • 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.

Watch the full video chat above, and for more of our archived MMT Chat conversations, click here.

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