Whether their company manufactures aviation equipment or installs lawn sprinklers, few things give middle-market business leaders more satisfaction these days than tapping into new end markets for existing products or services.
Here’s how three firms from very different industries did just that:
Stalco Construction of Islandia, New York
What makes this end-market story one of special note is the fact that it was driven by an appetite not just for growth, but also for workforce survival, according to Kevin Harney, partner, principal, and CFO of Stalco — a $60-plus million firm that represents something of an anomaly in the construction sector, inasmuch as it has grown steadily through the downturn while refusing to cut heads and at the same time expanding both its marketing and IT expenditures. More
Marware of Hollywood, Florida
Back in the late 1990s, Steve Jobs of Apple fame wasn’t very popular inside the offices of Marware, Inc. Shortly after his return to Apple, Jobs had lobbed the equivalent of a harpoon into Marware’s side when he killed off Apple’s Newton — a mobile messaging gadget that Marware had been outfitting with software as well as rubber encasements. What happened next can be classified as an end-market miracle. More
Radco Industries of Batavia, Illinois
As a manufacturer of high-performance specialty fluids, Radco Industries is not the type of company that comes to mind when you think of green industry. However, as more solar energy enterprises around the globe turn to Radco for heat transfer fluids, the stature of the company’s green credentials — along with its revenues — is steadily rising. Here’s how Radco tapped a new end market. More