Before discussing his accomplishments, Paul Kolbeck paints a vivid picture of his less than privileged upbringing. If he wanted something, he had to earn it. That DNA-level drive for success burns just as brightly in him today.
After putting himself through college, Paul honed his business skills at Koch Industries. He describes his time there as the equivalent to an MBA-level education. It provided the skills, knowledge and courage he would need to venture out and run his own business.
In 2003, Paul purchased Ferroloy, an iron foundry founded in 1950. Poor product quality and low safety standards had the company teetering on the verge of bankruptcy. If Ferroloy were to see better days, Paul knew those were the primary areas he’d have to overhaul.
With a few loyal customers willing to witness the transformation, and some courageous financing, Paul set out to straighten Ferroloy’s course. His revitalized company performance both satisfied old customers and attracted new ones, increasing revenue and opportunity.
“One time, we shipped the customer a part still warm from the foundry. It kept them from having to shut down their assembly line. That level of responsiveness earns loyalty.”
– Paul Kolbeck
Walking around Ferroloy, you notice the IRONMAN sign. It’s an acronym for the company’s operating values: Innovation, Responsiveness, Openness and No excuses. Those who meet the stringent ironman safety, quality and productivity qualifications are awarded with their own padded recliner in the break room. For Paul, it all comes back to creating an environment of excellence.
He’s found encouragement in the Bravely Onward billboard, which he passes daily. The message inspired him to shift from a vision of survival, to one of conquering and exceeding expectations. He mentions that doing so, requires access to money. Paul’s relationship with Fidelity has empowered him to take advantage of market place opportunities others could not. He believes it’s a primary reason his company is experiencing success.
Paul believes in a “keep sawing wood” mentality. It’s about getting better daily. His weekly training meetings ensure everyone is operating at optimum levels. People may think they’re simply melting iron, forming it to a part and calling it good. But in reality, each part has a geometric design and very specific mechanical property. Whether it’s in the heat of the foundry, or working directly with customers, Paul pushes everyone to “keep sawing wood.”
“I can’t tell you how comforting it is to know I’ve got a partner who’s going to tell me ‘no’ when I need to hear no; ‘yes,’ when I need to hear yes, and guide me through these caveats of growth.”
– Paul Kolbeck
It’s working. Since taking the helm, Paul has grown Ferroloy from one shift with 12 employees, to two shifts with 55 employees. He takes great pride in how the company’s growth benefits the entire Wichita community. It’s a source of pride for us at Fidelity Bank as well. The vision and persistence demonstrated daily by the Ferroloy team is what fuels us to keep moving Wichita Bravely Onward.