Driving for Growth: Rex Davies Case Study
What struck Rex Davies on the first day of his Owner Manager Programme was ICEHOUSE founder David Irving’s emphasis on the importance of creating a good work/life balance. And, while he’s still struggling a little with it, Davies now knows what to do to improve that balance.
His company, MIMICO (Matamata Industrial Machinery Imports Limited), imports and distributes dump trucks, flatbed trucks and heavy machinery, but Davies felt like a lightweight when he first began his OMP course.
“When I went to OMP1 I was the minnow,” he says. “I think we turned over about $5 million dollars. I wondered why I’d been put in with all these heavy weights.”
It soon became clear to him that each of the 18 owner-managers on the inaugural ICEHOUSE OMP was facing the same sort of issues, despite the differences in their company’s turnover and the varied industries from which they came.
Over the last decade, MIMICO has quadrupled its turnover and (like most New Zealand companies) Rex Davies and his team have experienced some highs and lows. The company now employs 32 staff, up from the six it had in 2001, and Davies says the business has more structure and better processes in place.
“What I really got out of the Owner Manager Programme was the accounting side. I realised I needed a much better accounting system so I hired an accountant. We also do far more forecasting now, which helps to drive growth, as does the desire to grow and having the right people.”
His OMP experience has increased Davies’ aspirations for growth and helped him achieve one of his aims for expansion – in 2003/4 he took advantage of a supply shortage by his competitors and set up a successful low-overhead operation in Australia.
While cashflow is still an issue in this tough economy, Davies is passionate about what he does and enjoys the fact that his company’s success has flow-on benefits for his employees. His OMP1 course notes are still a valuable tool, and Davies has encouraged two of his managers to attend executive management courses through The ICEHOUSE.