Neil McDonough
- Published: April 01, 2007
- President and CEO of FLEXcon
- Management style: State your objectives, then let your employees create the best way to achieve those objectives.
- Hobbies: Skiing, cycling, and golf.
What's your pet peeve about the industry?
Technology and service are undersold and underappreciated. Before the sale, converters apply a lot of technology in the choice of such things as equipment and inks. They also provide extensive after-sales service. These contributions add significant value to an application's success, but the converter doesn't always recover the full dollar value from their customer.
How has your management style evolved?
I was a philosophy major in college, and I believe in Socratic dialogue. I ask a lot of questions about what the person thinks will work, what the alternatives are, and how they arrived at their decision. This approach has worked well for me in the 17 years I've been president. While I was always consistent about our direction — to become the premier polymeric coater — some employees pointed out I wasn't always specific enough about the steps we should take to get us there. I have become much clearer about our short-term objectives.
What is the key to growing a business in a bad economy?
Narrow your focus to what you do best and what your customers value most.
What is your key to retaining good employees?
Provide growth opportunities, new challenges, and a level of responsibility that creates a sense of ownership.
What was the worst advice you ever got?
Size and market share leads to profit. That advice was popular in the 1980s and during the dot.com boom but was later debunked. The companies that made it through tended to be the ones that were most focused.
Any other outside interests?
Reading. Last year, my goal was to read a book a week. I came up short — 44 books. This year, I'm reading almost as much but not keeping count. One of the great things my father did for me in high school was to have me take a speed reading course. Also, I do a lot of business travel and that gives me time to read on the plane.
What business books have influenced you?
Good to Great (Jim Collins), Built to Last (Jim Collins and Jerry Porras), Strategic Supremacy Pure & Simple (Michel Robert), and It's Not Luck (Eliyahu Goldratt). Also, The Innovator's Dilemma (Clayton Cristensen) and The Innovator's Solution (Clayton Cristensen and Michael Raynor).
At a Glance
FLEXcon Co. Inc.
1 FLEXcon Industrial Pk.
Spencer, MA 01562
Founded in 1956
1,200 employees
Specialties: Pressure-sensitive film products and polymeric coating
