The Idaho Small Business Development Center
(ISBDC) at North Idaho College has nominated Hayden-based Bullet Tools
for the Family-Owned Small Business of the Year Award through the U.S.
Small Business Administration. Winners of the national awards in this
and other categories will be announced during U.S. Small Business
Administration National Small Business Week May 17-21, 2009.
Bullet Tools, owned by Dalen, Mary and Brian Gunn and Ben Toews,
develops and markets tools for the construction industry. The company
had an exciting but challenging start in the late 1990s.
“Most small businesses are started by someone with a passion who
doesn’t know a whole lot about business,” Dalen Gunn said. “The support,
knowledge, education and assistance provided by the ISBDC was the only
way we maintained an edge and remained competitive. ISBDC was truly a
godsend for us.”
Bullet Tools started as many small businesses do, after someone
discovers a need that is not being met.
Gunn had spent more than two decades working in the flooring
installation business. Seeing the need for a more efficient cutting tool
for laminate flooring, he developed the Magnum Shear, which makes
dust-free, precision cuts in laminate and wood flooring products as well
as PVC and rubber tiles, cork, vinyl siding products, cement board and
other products.
“Imagine someone who is making a living at installing flooring taking
as much as, two hours or more of his day walking in and out of a house
just to cut materials,” Gunn said. “There is also the problem of the
amount of dust they are breathing or having to clean up when using
traditional saws to cut the products.”
By 2002 the owners of Bullet Tools incorporated and the company
took-off. But when they began experiencing sluggish sales in 2006, the
family-owned company sought the assistance of the Idaho Small Business
Development Center. Realizing they needed new skills to turn their
business around, Bullet Tool owners hired a consultant and read books to
help improve their business. These efforts were without success. So the
owners finally turned to the interactive assistance of the ISBDC at
North Idaho College.
“ISBDC helped the Gunns launch Bullet Tools by helping them develop
the initial business plan and obtain financing from a bank,” ISBDC
Director Bill Jhung said. “They were now facing challenges brought by
growth and needed a more sophisticated business model and tools. With
our assistance I knew they could it take it to the next level.”
Jhung said initial meetings revealed vastly different backgrounds and
perspectives among the owners. The four enrolled in the ISBDC’s
compressed leadership development workshop titled Entrepreneurial
Leadership Training (ELT).
“During the spring we attended training and coaching sessions where
we learned about leadership, team building, developing people, creating
quality, scalable processes and products,” Gunn said. “We learned to
lead the company with a philosophy of constant improvement and lean
thinking. We went back to work, set goals and put our plans into action.
By the fall, sales had picked up after implementing the things we had
learned.
“Anyone involved in small business is a fool not to use their
services,” Gunn added. “The services they offer and the level of
expertise is phenomenal.”
Over the past year, the company has expanded distribution and now has
nearly 50 percent of its revenues generated from export sales.
The Magnum Shear is now marketed and sold to professional flooring
installers and building contractors and a large portion of Bullet Tools’
revenue is generated by sales of the cutting tool. Recently, Bullet
Tools contracted with major retailer Home Depot to make the Magnum Shear
available at Home Depot Rental Centers.
For more information regarding Bullet Tools, visit www.bullettools.com.
The ISBDC provides no-cost business coaching and low-cost business
training to help businesses thrive and grow in North Idaho. For more
information, call (208) 666-8009 or e-mail isbdc@nic.edu.