InvotecNews, Uncategorized

John Hanna has a lofty goal for his business: to double its size in the next five years.  INVOTEC – a shortened spin on the terms innovation and technology – designs and manufactures customized assembly, inspection and test systems.  Its customers come from the medical, automotive, defense aerospace and consumer industries.  Medical device manufacturing and testing is the company’s largest segment.

Since its inception in 1993, INVOTEC steadily grew revenue by 21 percent each year until 2006, when it peaked at 50 employees.

“We hit a brick wall in 2006,” Hanna said.  The company saw revenue shrink each year through 2009, causing it to cut its employee base to 35.  That’s when Hanna knew his business needed a new strategy.

In 2009, INVOTEC brought on Baltimore-based Sandler Sales Institute and Michigan-based CEO Advantage, to help get back on track.  After a long assessment of the business, INVOTEC hired new managers and employees based on its company culture.  Dave Dudon, an adviser at CEO Advantage, said an obstacle companies face when trying to change is putting people in the right positions.  Once a management structure is in place, the key is to help the group gel.

INVOTEC also launched a sales and marketing plan to better inform customers how the business worked.  A new website highlighted the plan, communicating to customers the problems INVOTEC solves, tools it uses and solutions it provides.  Then its sales team sought out companies in select industries – particularly the medical, automotive and consumer fields.

INVOTEC grew revenue 40 percent in the past year and expanded from 35 to 50 employees.  The company plans on hiring another five employees this year.

To read the full article, click here.

To go to the Cincinnati Business Courier’s website, click here.

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