Welcome to "Morgan Entrepreneur Spotlight," our bi-monthly showcase where we shine a light on Northeast Ohio's entrepreneurial superstars. Each feature delves into the journeys of individuals who have participated in our programs and have harnessed their learnings to fuel impressive growth and innovation.
John Ribic is currently enrolled in the Systems for Integrated Growth (SIG) program and he participated in the Big Rock Valley Leadership Retreat, offered free of charge to qualified participants via a partnership between Burton D. Morgan Foundation and the Edward Lowe Foundation. John has also participated in Goldman Sachs 10,000 Small Businesses and COSE Strategic Planning. His company is slated to start Scalerator NEO in January.
Tell us a little about your business.
“Rimeco Products, Inc. is an AS9100 certified, ITAR registered, CNC Machine Shop specializing in aircraft and aircraft engine parts. The majority of our parts are made from stainless steel and high nickel alloys and are used in air and fluid conveyance tubing assemblies on jet engines.
We are a family-owned business with approximately 50 employees, and we have 32 CNC Machines running 2 shifts per day. We have CNC Turning Centers and CNC Machining Centers, and we are expanding into CNC Swiss machining.
Rimeco Products was started by John Ribic, Sr. and Val Ribic in 1992, and we now reside in a 46,000 square foot manufacturing plant in Willoughby, Ohio.”
Can you share your thoughts and key takeaways about the foundation-sponsored entrepreneurship programming you have participated in?
“They played a key role in helping us structure the foundation for our business. The courses introduced me to the concepts of Mission, Vision, and Core Values, and guided me in developing all three for our company. The peer-based learning system was invaluable, allowing me to relate to other business owners' successes, failures, and daily challenges.”
Please tell us about any benefits, growth, or key wins you've experienced since participating in these programs.
“There were a couple of key wins I had in participating in the leadership retreat at Big Rock Valley. First, it reinvigorated the passion I have for growth and the value of growing my business. It gave me a purpose statement, which significantly contributes to our overall vision. Finally, it brought me together with business owners I share many common traits and interests with and allowed me to develop relationships that I expect to last for a long time."
What are your goals for the next twelve months?
“I’m currently enrolled in the SIG program and have been working with the team on developing an Account Manager position at Rimeco. I’m also working on the development of my Management Team and implementing an advisory board.
My goals over the next year are to implement our connected factory with dashboards and KPl's for everyone, which includes a rewards system based on goals set with the KPl's. I also plan to grow two of our current customers from approximately 3% of our business to 15-20% of our business by the end of 2025.”
What is your favorite quote?
"Don't let the noise of others’ opinions drown out your own inner voice, heart and intuition. - Steve Jobs”
What is the last book you read?
“I’m currently reading Traction: Get a Grip on Your Business, by Gino Wickman”
What advice do you have for budding entrepreneurs?
"Meet and network with as many entrepreneurs as you can. Be honest with issues you and your company are facing and let your team help you work through them. Write down and share your goals, purpose, mission, vision, and core values with everyone in the company."
To learn more about Morgan Foundation sponsored programs and opportunities for second stage entrepreneurs, contact Michal Marcus.
If you have participated in Morgan Foundation sponsored programs and are interested in being featured in the Spotlight, contact Gina Dotson.