Bullet Tools nominated by NIC ISBDC for national award
The Idaho Small Business Development Center (ISBDC) at North Idaho College has nominated Hayden-based Bullet Tools for the Family-Owned Small Business of the Year Award through the U.S. Small Business Administration. Winners of the national awards in this and other categories will be announced during U.S. Small Business Administration National Small Business Week May 17-21, 2009.
(Media-Newswire.com) - The Idaho Small Business Development Center ( ISBDC ) at North Idaho College has nominated Hayden-based Bullet Tools for the Family-Owned Small Business of the Year Award through the U.S. Small Business Administration. Winners of the national awards in this and other categories will be announced during U.S. Small Business Administration National Small Business Week May 17-21, 2009.
Bullet Tools, owned by Dalen, Mary and Brian Gunn and Ben Toews, develops and markets tools for the construction industry. The company had an exciting but challenging start in the late 1990s.
“Most small businesses are started by someone with a passion who doesn’t know a whole lot about business,” Dalen Gunn said. “The support, knowledge, education and assistance provided by the ISBDC was the only way we maintained an edge and remained competitive. ISBDC was truly a godsend for us.”
Bullet Tools started as many small businesses do, after someone discovers a need that is not being met.
Gunn had spent more than two decades working in the flooring installation business. Seeing the need for a more efficient cutting tool for laminate flooring, he developed the Magnum Shear, which makes dust-free, precision cuts in laminate and wood flooring products as well as PVC and rubber tiles, cork, vinyl siding products, cement board and other products.
“Imagine someone who is making a living at installing flooring taking as much as, two hours or more of his day walking in and out of a house just to cut materials,” Gunn said. “There is also the problem of the amount of dust they are breathing or having to clean up when using traditional saws to cut the products.”
By 2002 the owners of Bullet Tools incorporated and the company took-off. But when they began experiencing sluggish sales in 2006, the family-owned company sought the assistance of the Idaho Small Business Development Center. Realizing they needed new skills to turn their business around, Bullet Tool owners hired a consultant and read books to help improve their business. These efforts were without success. So the owners finally turned to the interactive assistance of the ISBDC at North Idaho College.
“ISBDC helped the Gunns launch Bullet Tools by helping them develop the initial business plan and obtain financing from a bank,” ISBDC Director Bill Jhung said. “They were now facing challenges brought by growth and needed a more sophisticated business model and tools. With our assistance I knew they could it take it to the next level.”
Jhung said initial meetings revealed vastly different backgrounds and perspectives among the owners. The four enrolled in the ISBDC’s compressed leadership development workshop titled Entrepreneurial Leadership Training ( ELT ).
“During the spring we attended training and coaching sessions where we learned about leadership, team building, developing people, creating quality, scalable processes and products,” Gunn said. “We learned to lead the company with a philosophy of constant improvement and lean thinking. We went back to work, set goals and put our plans into action. By the fall, sales had picked up after implementing the things we had learned.
“Anyone involved in small business is a fool not to use their services,” Gunn added. “The services they offer and the level of expertise is phenomenal.” Over the past year, the company has expanded distribution and now has nearly 50 percent of its revenues generated from export sales.
The Magnum Shear is now marketed and sold to professional flooring installers and building contractors and a large portion of Bullet Tools’ revenue is generated by sales of the cutting tool. Recently, Bullet Tools contracted with major retailer Home Depot to make the Magnum Shear available at Home Depot Rental Centers.
The ISBDC provides no-cost business coaching and low-cost business training to help businesses thrive and grow in North Idaho. For more information, call ( 208 ) 666-8009 or e-mail isbdc@nic.edu.
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This story was released on 2008-11-20. Please make sure to visit the official company or organization web site to learn more about the original release date. See our disclaimer for additional information.
