135: This Fast-Growth Manufacturer tells the Fascinating Story of Fuses (Jim Kalb of OptiFuse)

Background on Jim Kalb of OptiFuse:

Jim Kalb is currently the President of OptiFuse, an innovative high-growth manufacturer of power protection components distributed by high-quality select wholesalers throughout the world. OptiFuse has been listed on the Inc. 5000 for the last 5 years, as well as being named as one of Forbe's magazines “25 Best Small Companies” in 2017.

Jim’s passion is the creation and growth of start-ups companies and the overall management and leadership of entrepreneurial operations. Philosophically, he believes in and practice the 6 business principles of: Values (higher purpose), Company Culture, Fostering Relationships, Leadership by Example, Community Investment, and Sustained and Profitable Growth.

In terms of technology, Jim is an expert in the field of low voltage power protection, especially in the areas of over-current and over-voltage component protection.

Time-Stamped Show Notes:

[3:11] Jim Kalb is the founder of OptiFuse, which is a company that manufactures overcurrent protection devices such as circuit breakers and fuses.
[4:41] Growing a company too fast can be a scary thing for Jim.
[6:42] Their customers are mostly from the automotive and transportation industry.
[9:10] Jim tells the story of how he was able to go into this type of business.
[11:18] Jim gives some helpful tips on starting a business.
[15:19] In 1991, Jim facilitated his business by using fax and calling contacts abroad.
[18:02] During the early days of his business, Jim hired an accountant who stole $30 thousand dollars from the company.
[22:50] A lot of networking and having a great sales staff helped his business to grow tremendously.
[27:21] Jim went through a couple of big issues and major business problems that led to the birth of OptiFuse.
[33:29] OptiFuse followed some rules that made them the favorite client among the distributors.
[37:27] In 2008 to 2009, business picked up for OptiFuse because engineers were switching to their products since it was less expensive.
[39:07] Jim made a blog that connected with a lot of people. The blog is mostly essays that talks about interesting and meaningful topics.
[43:51] Jim talks about one of the lowest points in the business that almost forced him to close down the company.
[51:07] Jim gives an advice when it comes to dealing with personal time and relationships.
[58:45] According to Jim, being a sales person in his company can be described as tending a farm.
[1:03:40] In about 10 to 15 years from now, the employees of OptiFuse can have the opportunity to own the company.
[1:10:25] He offers his last words of wisdom to the entrepreneurs regarding starting a business.

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Fabulous 4 Questions:

📖 📚 Favorite Book(s)? Small Giants by Bo Burlingham, The War of Art by Steven Pressfield, The E-Myth by Michael Gerber, Follow Your Heart by Andrew Matthews
🙌😎 Favorite Amazon.com purchase? I buy a lot of books from Amazon…not much else
🌱💸 Favorite Tool that's GROWN your Business? Zoom – Helps me to connect with my team; DropBox – gives me access to my data wherever I'm at; Verizon's Int'l Calling plan – gives me internet / phone access, no matter what county I'm in for $5-$10 day
💭💡 BIGGEST Challenge keeping your Business from GROWING? Finding superstar people who fit into our unique culture that emphasizes team results over individual achievement

Key Point from the Interview:

“If you want to start a business, start with already a customer at your backpocket. And also, start by having another job potentially, and maybe moonlighting. I’ve always believed in the theory of, you make a living from 9 to 5, but you can make a life from 5 to 9.”

Resources Mentioned:

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