Literature

Finding Success in Difficult Time - New Ideas 2006, Issue 1

01/01/2006

Finding Success in Difficult Time

Anyone working in manufacturing over the past five years knows that a troubled economy translates into hard times. When faced with such a potentially devastating challenge, it is all many can do to simply stay afloat. On the rare occasion though, this situation can provide the impetus for finding a new road to success. For two EDM operators in southern California, the lackluster economy provided a unique opportunity to prosper.

Frank Zsemlye and Richard DeRosa worked together for nearly twenty years before striking out on their own. For years, they had talked of applying their combined expertise to the creation of their own EDM shop. When the economy tanked in 2001, the company they were working at took a massive hit. The semiconductor industry, an area especially ravaged by the sinking economy, accounted for 85% of the company's sales. Feeling that the writing was on the wall, Mr. Zsemlye and Mr. DeRosa decided the time was right to strike out on their own. The two of them, along with Frank's wife Agnes, developed a firm business plan and EDM Xpress was created. "We put everything we had into starting the company," recalls Mr. DeRosa. "Unlike nearly every other industry out there, the housing market took off despite the economy"...