The founding, growth and success of Galaxy Wire & Cable was as unique as it was hard won. After working for 15 years in the wire and cable business, Kathy Stussy saw a need for a distributor that provided more than product. She founded Galaxy Wire & Cable, positioning the company as a source for custom products and unique solutions. Eight years later, Stussy saw an opportunity to evolve into the production side of the industry. She committed to a large production order with the idea of temporarily outsourcing the work, and bringing production in-house over a six-month period. Almost immediately, problems arose with the vendor. Stussy took back the job literally overnight, setting up production on a card table at her office. An employment agency supplied an individual with soldering skills. By pure chance an engineer knocked on her door looking for work and was immediately hired. Together, the small crew completed the order – and created a foundation for steady expansion in capabilities, equipment and staff.
By 2006, Galaxy had sales of 2.5 million, but Stussy didn’t feel she had a handle on her true costs, profits and losses, and other financial aspects of the business. At the same time, her daughter and son-in-law had committed to entering the business. “I was starting to think about retiring and laying under a palm tree somewhere,” Stussy said. “If the business was going to help fund that, I knew that it had to be on solid footing when the next generation took over. I knew I needed help.”
Stussy contacted DVIRC and took advantage of the organization’s Executive Coaching services.