In this episode of Manufacturing Mavericks, Bob McGregor, President of Neo Industries, shares his journey of turning around a micro-machining company in Colleyville, TX. When Bob purchased the struggling business, he had to navigate financial setbacks and make strategic decisions, including firing unprofitable customers and even sending apology fruit baskets—ultimately leading to success in contract manufacturing.Bob's persistence and optimism shine as he discusses learning new skills, overhauling operations, and rebuilding customer trust. The conversation offers insights into the challenges and rewards of revitalizing a manufacturing company.SHOW NOTES01:22 How the fight began (The Origins of Neo Industries).06:00 Leaning on fFamily for support.09:38 What comes after the fight?10:45 Rebuilding begins with finding low-hanging fruit.13:26 Navigating COVID and defense contracts.15:48 Rebuilding trust and firing bad customers.17:35 Overcoming cultural shifts and starting over.24:32 What it means to be a Manufacturing Maverick.26:32 The zero principal & putting your customers first.28:38 When you’re ready to win, stop doing the things that cause you to lose.30:38 Making the change to contract manufacturing.40:32 What Bob would tell his younger self.
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