THE PROVERBIAL DRINKING FROM A FIRE HOSE is an understatement of what happened starting March 19 .
- AMY BIRCHER BRUYN , PRESIDENT AND FOUNDER , MMI TEXTILES we lost 30 percent of our work force ,” said Kyle , who explained that as uncertainty grew many employees opted to stay home . “ We had to think of an incentive , such as giving a bonus to anyone who worked 40 hours . It almost brought me back to my military days of hazard pay .”
Financial incentives for frontline workers became common throughout a variety of industries , ultimately rewarding their employees for working during these challenging times .
As companies like ACP continued to operate , drastic changes and quick responses allowed for a good evaluation of where the business stands from a financial wellness perspective . As a result , many companies are very much aware of their operating costs .
“ This really helped us button up , from top to bottom ,” said Kyle . “ You look at all of your cash flow , receivables , payables and start to look at those things a lot closer . Things that I worked on this year were a zero dollar budget , what is the bottom line here that will keep everything moving , and everyone employed . Doug Houser and the Rea team have been really instrumental throughout this process , really taking the lead with the Paycheck Protection Program ( PPP ) and the financials of all of this . Everything could stop tomorrow , and we would still be ready to go . If anything , this has really prepared us .”
Fortunately , for ACP , not only did they continue to grow , the organization was also able to give back to the community .
“ We were still going strong , and had a record year ,” Kyle said , who noted that he was able to move forward with an acquisition during the pandemic and even took time to help build a church . “ We really were able to jump in and help them get back on their feet .”
While ACP was able to navigate the COVID pandemic relatively unscathed , the business is now dealing with the fallout of ongoing closures and reduced workforces other industries faced .
“ What we are seeing now are material shortages , long lead times , and really big price increases ,” said Kyle . “ We made it through one hump , and we are going to try to make it through another .”
While some businesses are dealing with the effects of the pandemic now , others had to navigate through uncharted waters early on .
‘ New ’ Is Not Always Bad
Providing fabrics for U . S . soldiers is a big part of MMI Textiles ’ day-to-day operations . When the pandemic hit , Amy Bircher Bruyn , MMI ’ s president and founder , had to take a step back and assess what the future held for her business . The uncertainty of COV- ID-19 resulted in numerous questions for industries and business owners searching for advice – but with minimal resources available , time was ticking for a solution .
“ The proverbial drinking from a fire hose is an understatement of what happened starting March 19 ,” said Amy .
Through many conversations she had with advisors , clients and government officials , Amy was able to identify an opportunity to shift her business ’ s focus to helping provide personal protective equipment ( PPE ) during the pandemic .
“ We had a surplus of inventory and were able to get fabric into the hands of people who wanted to step up and answer the call ,” said Amy .
Collaborating with many industries , including military contractors , MMI Textiles had a great deal of in-stock fabric that could be used for PPE . Additionally , the company was also able to track down additional materials that would allow their clients to produce masks and reusable hospital gowns .
“ They said you be our procurement side , and we ’ ll be able to step up and make the gowns , and that ’ s exactly what happened ,” said Amy .
As COVID-19 continued to spread at a rapid pace , the pandemic exposed many businesses ’ strengths and weaknesses , but it was also creating opportunities .
“ Amy and her team worked so hard to make this a success , not only in respect to building their brand and business , but more importantly to them , they used this as a way to give back . To ensure first responders and health care workers had the quality PPE they needed ,” said Paul Gregory , principal , Rea & Associates .
“ It was a lot of stress for our team , and we recognized that there were some holes that we had to fill ,” said Amy . “ We invested in a new manufacturing facility , hired a CFO and a director , and created a PPE division . We were really able to fireproof our business . A lot of good came out of this .”
Businesses continue to thrive in the current economic uncertainty , whether it ’ s expanding the size of their company or developing innovative and cost-effective methods of business .
“ I have been working with MMI for more than 10 years and I continue to be amazed at the values Amy has instilled in her people and how they all have the same end goals in common . The fact that they not only survived , but thrived in this environment , was not a surprise to me ,” said Paul .
For additional information and insight into these stories and more , reach out to Rea & Associates at rea . news @ reacpa . com .
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