Your father passes away suddenly. You have never owned or managed a printing company before, even though you worked there in sales and your dad gifted you 5% a few years back. The Executor of his Estate tells you there is pressure from some family members watching carefully from the distance. The company you are now charged with running is faced with old equipment, an aging work force, an archaic building in a remote small town, and a chronic lack of leadership. The local bank is "concerned", suppliers are tight, and no new financing is on the horizon.
Oh, and the economy is tanking and the printing industry is being redefined.
Pretty gloomy, huh?
Not to David M. Flach, Jr, seen here on the right with NAPL VP Mike Philie.
Dave is the self-proclaimed "catalyst" for Bassett Printing. He has faced these obstacles and remains steadfast in his determination to transform Bassett Printing from old line company into a modern graphic communications leader.
Most notably, Dave has turned the negatives into positives, which is a lesson learned for others in the same boat. Dave sees older but well maintained equipment as a reason to specialize in manufacturing of Point of Purchase displays, a niche in which run speed and make ready time is not a handicap. An aging work force is also an exceptionally loyal and experienced group of reliable employees. A big old building is seen as a fully paid-for asset with room for adding kiting and fulfillment services.
Dave has utilized consultants from NAPL to support his turnaround. NAPL VP Mike Philie has been serving as Interim GM of Bassett, NAPL VP Ray Prince provided a much needed Operational Assessment, and I've been working on ownership and debt restructuring issues.
Much work remains in Dave's quest to transform Bassett Printing. But during these trying times as the recession takes its toll, it is worth pointing to Dave Flach of Bassett Printing as an example of an individual who is turning negatives into positives.
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