Dale Leibl worked in the field of engineering for more than 32 years, focusing on winding electromagnets for motors used in the aerospace, defense and medical industries before he decided to retire. Matt Liebl worked in the fast-paced finance industry in the Twin Cities for eight years before he decided he needed a different pace of life. In 2016, the father-son duo decided it was the perfect time to launch their own business and Precision Windings was born.
“Every motor has an electromagnet in it,” Dale explains. “The electromagnets are wound with copper wire, and most of the winding is done manually.” In his decades of work in the windings industry, Dale has created several machines that do windings mechanically, and the goal is to create specific machines for the industries that he is so familiar with.
“Only a couple of other companies in the US build similar machines,” says Matt. “Those machines typically cost $350,000. We believe that we can do it much more cost-effectively.” Manually winding an electromagnet is extremely time consuming. “When you break down what it costs to build a motor, 35-40% of the labor cost is jut putting the wire in,” Matt explains. “A machine will lower that number to 5%. We want to provide consistency at a lower cost, and in doing so, help others.”
Dale agrees. “Some of the stuff we do is military. It may sound counterintuitive that a bomb is a good thing, but when people are trapped and a smart bomb can save their lives, that is a success.”
While the technical aspect of the winding industry is incredibly important, Dale and Matt agree that the business side is equally so. That’s why the STARTUP workshop was a perfect fit for their company.
“The (STARTUP) experience was irreplaceable for our company. We had very little marketing content created and weren’t sure what to focus on first,” says Matt. “Betsy did such a great job of encouraging us to think creatively and gave us plenty of time to work through different ideas. Without the workshop, I can safely say that we wouldn’t have discovered our ‘Why’ and be well on our way to putting it into action.”