Spirit Electronics’ Marti McCurdy on Inspiring the Next Generation in STEM

Welcome to RADICL’s newsletter, DIB Innovators.

Every week, we interview an expert driving technological advancements in the Defense Industrial Base that's keeping our country safe, then write up a summary of the conversation.

In this edition, we dive into our interview with Marti McCurdy, CEO of Spirit Electronics. Here are the top takeaways. 

#1: Recognize the Importance of Cash Flow and Networking 

“I would say that my issues are everybody's issues, and usually that's cash flow. So the first thing that you have to overcome is cash flow. Luckily, I have enough of a network, connections. I bought Spirit. It was totally upside down, and I didn't really get all the details from the seller, clearly. And so at day 31, I couldn't make payroll, and I was broke because I paid cash. And so I literally had to call up somebody and ask for a quarter of a million dollars, and they never asked me why and put it in my checking account the next day. 

“It helps to have a strong network, and cash flow is always the thing. So you're always working to make sure you have enough cash. I'm not big on debt, so we don't carry debt, and I like to have a cushion so that I can sleep well at night, but I think my bankers would like me to have some leverage, but I prefer not to do that.” 

Actionable Takeaway: Cash flow management is critical for business survival. Build a strong network to support you in times of financial need. Avoid debt when possible, maintain a cash cushion for peace of mind, and be prepared to leverage connections when cash flow issues arise. 

#2: Do Your Research on Managing a Multigenerational Workforce 

“I do study some things continually because you're always getting employees that are younger and coming out of different generations, and you got to figure out how to manage them, right? Everybody wants to talk about the Gen Xers or the whoever, you know, the Gen Zs and all that. You've got to figure out how do you manage them differently than your own peer group? And it requires some study. It doesn't immediately come by osmosis. 

“So I think the team is very strong on bringing people into our culture, and it's an enablement culture, right? So there's a good discipline from everybody, and that probably is where I got that from the military. But everybody is there to share and grow and bring the other team up, right? If not, you stunt your growth and you've got to be able to share what you know and enable everybody to make decisions and to, if you make the wrong decision, we're going to pivot and keep on moving.” 

Actionable Takeaway: Continuously study and adapt management techniques to effectively lead a multigenerational workforce. Cultivate an enablement culture where knowledge sharing and collective growth are prioritized. Empower team members to make decisions, learn from mistakes, and pivot when necessary. 

#3: Cultivate a Specialty for Success in Aerospace and Defense 

“As a company, we've been in it forever. And so it comes naturally. My team is very well versed and very educated in all of these things that are required to be in this space. And I know, like, if we look at anything, like it's a competitor, like, we call them the Big 8, or Avnet from the distribution channel, they have. They cover everything, commercial, industrial, all of these other arenas where we are very focused and got blinders on that. 

“We are in the aerospace and defense market, and we run deep there. So I think when you have high touch and you have a single focus on this market segment, I think you cover it well. And to even down drill that a little bit is that we have specific teams for every major prime. Lockheed, Boeing, Raytheon, L3, BAE, all of that, so that they could. That team can hone in on all of those specific skills versus being versed in all of the primes. So we have dedicated teams for each one.” 

Actionable Takeaway: Focus on deep specialization in your market segment to achieve success. Establish dedicated teams for major clients to hone specific skills and provide high-touch service. This approach ensures comprehensive coverage and expertise in the aerospace and defense market and beyond. 

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