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TDMI Succes Story
With the help of: Kentucky Manufacturing Extension Partnership (KY-MEP)
About
The Challenge
Following a successful start-up in 2014, JSB Industrial Solutions realized some growth. However, by 2019 they found themselves in stagnant or dwindling markets. The ball mill industry showed low growth and the pallet production equipment industry was in decline.
Some of this was driven by a rise in international tariffs that drastically reduced the transportation of goods. JSB was caught in negative trade conditions and they had no control over them. Sales were decreasing and the company found themselves in a negative cash flow position.
The Advantage Kentucky Alliance TDMI research team gave me direction and helped me find what I was looking for. They told me who my potential customers are and where they are geographically located. They gave me direct contacts to those potential customers and how to reach them. It would have taken me years to produce this information, but AKA provided it in a relatively short period of time.
MEP's Role
JSB President, Shane Wallingford, engaged Advantage Kentucky Alliance professionals, part of the MEP National Network™, to perform a full TDMI research project that would eventually feed into a business development program. Through the use of assessment tools, the AKA professionals gained an understanding of JSB’s current capabilities that can be applied in the marketplace.
With that information, secondary and primary research was conducted on multiple levels. A scoring process was established and twelve potential industries were identified. By themselves, those twelve industries were populated with almost 70,000 companies that accounted for $380 billion in annual sales.
The filtering process continued and twenty-four targeted companies were identified as potential high-quality B2B customers. For those companies, vendor portals were identified and contact information was obtained..
In the final product, JSB received over 600 pages of valuable research data. Roughly half of that information is focused on potential industries JSB can operate in. The other half is vital information on individual companies they are looking to sell to, or compete against. The data is extremely valuable for the JSB’s next steps.