Founder: William Hamilton.
Key family members active in the company: Dale Fleming, president; Mark Fleming, vice president; John Fleming, vice president.
What it does: Hamilton Mold & Machine designs and builds molds, primarily for the rubber industry.
Markets served: Auto, agriculture, medical, recreational, oil, natural gas.
What are the strengths of a family owned business? Long-term planning is more possible. Decisions are not based on the next quarterly report. There is not a long process for decision-making. Decisions can happen immediately.
What are the challenges of a family owned business? We run our business to do what is best for Hamilton Mold, not what is best for the individual owner. What is best for Hamilton Mold is best for the owners in the long term. Our succession planning always has ensured the financial well being of the company first.
Do non-family members hold any executive or ownership roles? No.
How much does the younger generation of family members influence decisions? Someone from a younger generation brings a higher level of enthusiasm, and also is more willing to take risk. This is often a good balance with an older generation, who wants to be more conservative.
Something you may not know about the company: We are 100 years old this year. Having survived every war and financial crisis in that time, we feel that we will be here to serve our customers for many more years.
What advice would you offer a young entrepreneur who wants to start his or her own, family run business? Nothing can replace the energy of a passionate owner. Make your decisions based on your children's best interest. If you do that, it will work out for you as well
And another thing: There is a certain level of pride and respect taking over a business that your father, grandfather and great grandfather have run. There is also a sense of responsibility to hold the company up, possibly to a higher level during your watch.