Recession provides graduate degree in business survival

Three who have survived shared what they learned at a recent workshop luncheon of the Christian Businessmen's Connection of Orange County. As the event program explained, "We're not retreating, just fighting in a different direction."

Precision Pet Products in Costa Mesa went from earnings of nearly $30 million and a staff of 47 in 2007 to $21 million and 32 now, said owner Dave Link.

Cobalt Construction is headquartered in Simi Valley with offices in Tustin, Long Beach and Los Angeles. Business fell 65 percent at the general contracting and heavy engineering company as the recession deepened, said partner Darin Kruse. "I live in Newport Beach and those 90-mile trips to work were some tough, lonely drives as I thought about laying people off."

Precision Pet Products started making wire dog cages in 1985, and landed an account in 1987 with San Diego-based Petco, which had about 25 stores at that time. As Petco grew, so did Precision, Link said. "Business was very, very easy for a very, very long time. We had double-digit growth every year up through 2007."

"We took the possibility to re-engineer the business from custom software work that billed by the hour to supplying software in other words delivered over the Internet.

The business

He not only had to change the business, he had to change his lifestyle. "I had all the toys, cars, nice house, expensive lifestyle," Simmons said. "I sold my house to sustain the business."

"There is wisdom in many counselors," said Kruse, who relied on a CBMC forum, which is a small group of businessmen who advise each other. He as well formed an advisory group of good friends and his wife.

Link, who is as well a member of a CBMC forum and Vistage business peer advisory group, as well formed a five-member leadership team, including his wife, to make decisions and plan the future.