Buy the Numbers cover art

Buy the Numbers

Buy the Numbers

By: Mike Payne
Listen for free

About this listen

 A deep dive into the financials of running a Manufacturing business.2024 Economics Management Management & Leadership
Episodes
  • The Cost of Quality — Why Getting It Right Is the Fastest Way to Get Paid, Ep #39

    The Cost of Quality — Why Getting It Right Is the Fastest Way to Get Paid, Ep #39
    Jan 29 2026
    Quality is often treated like a cost center in manufacturing. Something we have to do to satisfy customers, auditors, or certifications. But in my experience, quality is much more than that. It's one of the biggest drivers of cash flow, reputation, and long-term profitability in a shop. In this episode of Buy the Numbers, I sat down with Mehul from Ground Control to talk through the real, often hidden, cost of quality. Our conversation starts with a simple but critical idea: parts don't get paid for unless the paperwork is right. You can machine a perfect part, ship it on time, and still watch payment get delayed weeks or months because an inspection report or FAI is missing or incorrect. That reality reframes quality documentation from "extra work" into a core financial process. We walk through the full value chain of quality, from inspection planning and bubbled prints to in-process checks, scrap, rework, and external escapes. Along the way, we talk about where shops lose the most time and money, how better systems can prevent problems before they happen, and why catching issues internally is always cheaper than letting them reach the customer. This episode is a practical look at quality as prevention, protection, and leverage. If you've ever dealt with late payments, chargebacks, rejected paperwork, or rework that quietly eats margin, this conversation will change how you think about the true cost of quality. You will want to hear this episode if you are interested in... (0:00) A real-world quality failure and why documentation mistakes are so costly(1:30) Meeting Mehul and the origin story behind Ground Control(5:01) Grow your top and bottom-line with CliftonLarsonAllen (CLA)(6:12) Why quality documentation is directly tied to getting paid(12:00) Why bubbled prints are the essential first step of quality planning (14:16) Using automation and AI in quality without removing human judgment(15:15) How Factur can help you fill a qualified sales pipeline (16:21) The time and labor cost of manual quality processes(19:07) Prevention vs correction: how better planning reduces scrap and rework(20:31) The importance of in-process checks and smarter inspection strategies(23:26) Why quality education must extend beyond the quality department(24:07) Mark your calendars and come see us at IMTS 2026(25:07) Reporting quality data with or without a fully integrated QMS(26:54) Internal vs external failures and why external escapes are far more expensive(28:55) Supplier scorecards, penalties, and long-term reputation risk(31:40) How paperwork errors can erase margins and delay cash flow(35:56) Reframing quality as a revenue generator, not just a cost center(39:56) When quality failures become safety, legal, and life-or-death issues(41:48) Quick hits: key KPIs, common myths, and no-cost improvements(44:10) How to connect with Mehul and learn more about Ground Control Resources & People Mentioned Grow your top and bottom-line with CliftonLarsonAllen (CLA)Get a free report of opportunities in your industry from facturmfg.com/chipsMark your calendars and come see us at IMTS 2026 Connect with Mehul Shah Ground ControlConnect on LinkedIn Connect With Buy the Numbers Follow on LinkedInConnect with Mike Payne on LinkedIn Subscribe to Buy the Numbers on Apple + Spotify Audio Production and Show Notes by - PODCAST FAST TRACK
    Show More Show Less
    45 mins
  • Owning the Problem: Why Accountability, Communication, and Culture Drive Throughput, Ep #38

    Owning the Problem: Why Accountability, Communication, and Culture Drive Throughput, Ep #38
    Jan 15 2026
    One of the patterns I keep seeing in manufacturing has nothing to do with machines, software, or technology. It shows up in how teams respond when something goes wrong. In this episode of Buy the Numbers, I sat down again with Josh McKain from Throughput Mastery to talk about the habits that actually drive throughput, especially accountability, communication, and culture. Josh has now hosted more than a dozen live conversations with manufacturing owners and leaders, and what stood out to me is how often completely different topics circle back to the same root issue. Whether the discussion starts with cash flow, sales, hiring, or quality, it almost always ends up at communication. The shops that move forward aren't the ones avoiding hard conversations, they're the ones willing to own problems and work through them together. We talked through real, practical examples from the shop floor. Scrapped parts, heat treat failures, non-conformances, and rework are going to happen. The difference is how leaders respond. Even when something isn't technically your fault, it's still your responsibility to solve if you want to deliver for customers and keep improving. This conversation also pushed into leadership and culture. Delegation matters, but abdication is dangerous. Some things, like cash flow, culture, and accountability, are too important to fully hand off. If you're trying to build a shop that consistently improves and doesn't rely on blame as a coping mechanism, this episode will resonate. You will want to hear this episode if you are interested in... (0:57) Welcoming Josh McKain back to Buy the Numbers(1:41) Josh explains Throughput Mastery and the structure of his leadership groups(4:10) Why small, trusted groups unlock vulnerability and honest discussion(5:43) The most consistent takeaway across episodes: communication(7:51) How trust, not technology, becomes a true sales differentiator(9:10) Showing customers systems, not just machines, to build confidence(11:52) Using data to prove on-time delivery and reliability(12:33) Overcoming manufacturing stereotypes in hiring(14:51) Why authenticity matters more than polished marketing(17:36) Taking responsibility for workforce challenges instead of assigning blame(19:15) Scrap, rework, and why problem-solving is cultural, not procedural(21:22) We detail how Factur can generate new opportunities for your business(23:09) Using non-conformance reports to drive continuous improvement(24:55) Applying AI tools to uncover overlooked process improvements(27:24) Identifying trends through NCR data and KPI reviews(31:18) Why cash flow is too important to fully delegate(32:26) Delegation vs abdication and what leaders must always own(36:24) Can culture be measured? Using simple scoring to track trends(40:39) Combining "gut feel" with turnover and HR data(41:59) How to connect with Josh and participate in Throughput Mastery Resources & People Mentioned Paul Van Metre: Your Tech Stack is Your Best Sales ToolArthur Field: Smashing the "Dark, Diary & Dangerous" Stereotypes in ManufacturingThe Tech Stack Advantage: Turning Software into a Sales Tool for Machine Shops, 465Get a free custom report of opportunities in your industry from facturmfg.com/chipsJim Mayer: The Skills Gap is a Symptom; the Culture Gap is the CrisisMike Payne: Cashflow KingScaling Success: Managing Growth Through Data and Culture, Ep #13QBQ! The Question Behind the Question Connect with Josh McKain Connect on LinkedInThe Throughput ShowThroughput Mastery Connect With Buy the Numbers Follow on LinkedInConnect with Mike Payne on LinkedIn Subscribe to Buy the Numbers on Apple + Spotify Audio Production and Show Notes by - PODCAST FAST TRACK
    Show More Show Less
    44 mins
  • How a Fourth-Generation Manufacturer Measures Success, Ep #37

    How a Fourth-Generation Manufacturer Measures Success, Ep #37
    Jan 1 2026
    What changes when you're not building a business to sell, but building one to hand down? That's the question that kept coming up for me in this conversation. In this episode of Buy the Numbers, I sat down with Jack Watson of HFW Industries, a fourth-generation manufacturer whose family has been operating the same business for nearly 80 years. Jack's story starts with his great-grandfather in 1947, fresh out of World War II, taking a bet on an emerging technology that would eventually become the foundation of HFW's identity. What struck me wasn't just the history, but how that long lineage still shows up in the way the business is run today, from capital investment decisions to how risk, debt, and growth are viewed through a generational lens. As someone who runs a business with a very different ownership mindset, I found this conversation especially valuable. We explored how thinking in decades instead of deal cycles changes what numbers matter most. Instead of obsessing over EBITDA multiples or exit value, Jack shared how balance sheet strength, liquidity, employee tenure, and operational durability guide their decisions. We also talked about leadership, tribal knowledge, and the responsibility that comes with stewarding a business that employs people who may spend their entire careers there. Whether you're in a multi-generation family business or not, there's a lot to learn from how Jack and his family think about building something that lasts. This episode offers a different perspective on success in manufacturing, one rooted less in transactions and more in continuity, resilience, and long-term stewardship. You will want to hear this episode if you are interested in... (0:00) Jack introduces HFW Industries and its four-generation legacy(3:05) The origin story: thermal spray technology after World War II(5:53) Family involvement across generations and roles in the business(7:15) We detail how Factur can generate new opportunities for your business(8:22) Family ownership vs founder ownership: different lenses for decisions(9:50) Financial conservatism born from early hardship(12:33) How long-term thinking shapes capital investment decisions(14:23) Real estate ownership and building for generations, not exits(18:04) How to ride out downturns like 2008 and COVID with minimal debt(21:18) Why you need to meet us at the 2026 IMTS Exhibitor Workshop(23:25) The financial metrics that matter most in a family business(25:49) Tracking rework, training costs, and generational skill transfer(27:46) Bottlenecks, utilization, and strategic use of top talent(30:26) Capturing tribal knowledge before experienced employees retire(31:36) Documentation, standards, and low-volume high-mix challenges(32:47) Leadership structure across generations(38:23) Grow your top and bottom-line with CliftonLarsonAllen (CLA)(39:00) Decoupling the business from individual family members(40:48) Building a pipeline of leaders who act like owners(42:32) Employee tenure as a point of pride and competitive advantage(44:58) What Jack hopes his great-grandfather would think today Resources & People Mentioned Get a free custom report of opportunities in your industry from facturmfg.com/chipsWhy you need to meet us at the 2026 IMTS Exhibitor WorkshopGrow your top and bottom-line with CliftonLarsonAllen (CLA) Connect with Jack Watson HFW IndustriesConnect with Jack on LinkedIn Connect With Buy the Numbers Follow on LinkedInConnect with Mike Payne on LinkedIn Subscribe to Buy the Numbers on Apple + Spotify Audio Production and Show Notes by - PODCAST FAST TRACK
    Show More Show Less
    49 mins
No reviews yet
In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.