Having a strong desire to keep these articles interesting, I have decided that it would be a good idea to interview successful local chief executives from time to time to find out a bit about their story.
For the first of such articles, I interviewed Richy Weinzierl – who runs Australian Precision Technologies Pty Ltd based in Berwick – and whom I have known for almost six years.
In case you were not already aware, APT won the ‘Innovation’ category in the 2021 Casey Business Awards and was also awarded the ‘Overall Business of the Year’ for 2021 as well, so a true success story indeed!
Q: Why was the business started in the first place?
Richy: Around 30 years ago, a family friend sold manufacturing machines and so I bought one for $450. I used it to produce hinge pins for ovens. I still have customers today that bought
from me back then.
Q: What does the business specialise in?
Richy: Defence components for the Australian Defence Force.
Q: What are you most proud of?
Richy: I have a world-class, state-of-the-art facility and built a reputation for high-quality manufactured products. APT was a finalist in the ‘Australian Defence Industry Awards’, has been inducted into the Victorian Manufacturers’ ‘Hall of Fame’. We also received the Thales ‘Award for Excellence’.
Q: What is the secret for success?
Richy: My wife – we have a great partnership! I also attribute my success to having received great business coaching over the past five to six years as well as support from CDIC (Centre for Defence Industry Capability).
Q: What has been your greatest challenge in the business?
Richy: Understanding how to get the best out of people. Staff are our greatest asset and a focus on company culture has been necessary.
Q: How did you overcome it?
Richy: I have been open to input from others and willing to listen to recommendations which I then talked through with Niki my wife.
Q: What advice would you give to a new business owner just starting out?
Richy: Engage a Business Coach. This ensured that I set up the correct structure and business foundations and enabled me to develop a clear plan for the business. I also recommend that they undertake the Australian Directors course. Hire great people and where possible employ more women – they are less resistant to change.
Q: Who inspires you and why?
Richy: Peter Drljaca. He has built his company from small beginnings into a global business that supplies companies such as Boeing and Lockheed Martin worldwide.
Q: How do you see business changing over the coming years?
Richy: The biggest challenge will be staff retention. Businesses will also need to become more efficient as costs continue to rise and this implies increased systemisation and tooling. Up-to-date tools and technology and the effective use of these will be needed to improve and maximise efficiency.
Q: What are your interests and hobbies?
Richy: I love to watch my son play football and spending time with my family, including the dog. I used to surf and would love to take this up again.
Ian Ash is the managing director for OrgMent Business Solutions.
