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Success Factors - Coggle Diagram
Success Factors
Networking
From meeting the people in Malaysia, he networked and met many people in the industry who he would later reach out to to expand his business
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Met his wife through his connections, as he was working closely with her father who also produced bikes, and then got to meet Jila who is a driving force in his ventures
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Knowledge
Went to school in TU Darmstadt and studied Mechanical Engineering (which helps with understanding the methods behind the production of the products)
Went to school in TU Darmstadt, and studied Management alongside Engineering (so a strong understanding of management behind the company)
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Innovation
One of the first things he did when he joined the company after his father died, he looked at the production and was able to revolutionise it, marking the beginning of his success at Buechel
With their high presence on the internet and their flexibility, and innovation of their products, the company was able to increase their profits during COVID when many competitors could not meet these new demands from customers.
Trust
Because he joined the business after his father, he already had paying customers
Buechel has been around for over 100 years, and since he has built up his customer base, people have a lot of trust behind his craftsmanship.
Flexibility
They have many shops they communicate to and sell to, making their products easy to buy and available in common stores such as Lidl, Aldi and Amazon
Companies who are looking to work with Buechel, or even an idea to get checked and implemented is very fast as Erhard doesn't have to communicate with many people above him or equal to him in the company as he is the sole person who makes the end decision on these things
Family
Erhard can always fall back onto his family in times of need, he has daughters and a son who can keep him updated with things going on in current times. They can present new ideas to him and give him different insights.
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Failure
After attempting to move his company to Malaysia and failing, he was able to reach out to the people he had met there and was able to make a deal with them and moved successfully to both China and India
Adaptability
When Germany reunited, he adapted to eastern Germany, both with the customers and the business culture, and bought and built new factories where his father developed the company