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The report looks at trends/activities affecting packaging M&A, saying 2016 was strong and market conditions driving M&A activity will remain healthy
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Avery Dennison to Display New Solutions
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Expert Advice
Marketing Report How-To
Marketing Mojo Archive Stephanie Millman's Bio
John Baumann
- Published: Thursday, 01 March 2007 06:00
Experience Speaks
How did you get into the converting business?
I was originally in the retail carrier bag converting business. I re-entered this industry ten years ago when my partners and I acquired Ampac Packaging.
What is your key to retaining good employees?
High achievers primarily need two things̬responsibility with the opportunity to make decisions and the opportunity to reap financial rewards from those decisions.
What is the key to growing a business in a bad economy?
Even in a bad economy, there are segments of growth. It’s important to identify opportunities via innovative products and services coupled with a strong pipeline of new customer prospects.
What is the biggest threat to the converting industry right now?
For individual converters, its complacency—not regenerating their companies with new products and services.
How do you handle a difficult customer?
We don’t have any. We love them all.
| At a Glance |
|---|
| Ampac Packaging 12025 Tricon Road Cincinnati, OH 45246 |
| ampaconline.com |
| Founded 1966; 11 plants |
| 900 employees |
| Specialties: flex-pack for food, medical, and retail markets; specialty retail markets; specialty shopping bags; and disposable, tamper-evident security bags. |
What keeps you up at night with regard to your business?
Thinking about velocity. Are we changing and evolving fast enough to keep up with the opportunities ahead of us?
What do you know now that you wish you had known when you started out in business?
The “soft” side of business is as important as the hard side. The ability to communicate effectively, motivate people, share ideas and resources, approach business with a sense of abundance, etc., is equally important to strategic planning, capital expenditures, etc.
What’s the worst advice you ever got?
Be safe.
What advice would you give to someone starting out in business?
It will be exactly what they bring to it, whatever they envision it to be. There are so many opportunities. It will come down to how they approach it.
What are you most proud of in your business?
I am most proud of the people and the quality of customer that we have. Also, the growth goals we have been able to accomplish over our ten years of ownership.
Do you have a personal hero?
I have been blessed with many mentors who have been important in my life, including my father.