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For more than eight decades, Louisville, Kentucky–based Zoeller Company has been building pumps that keep water moving. At the helm is CEO Bill Zoeller, whose fourth-generation leadership is carrying forward his family’s legacy.

What began in his great-grandparents’ basement in 1939 with just six pumps has grown into a global operation with five wholesale product lines and 10 locations across the U.S. and abroad.

Bill’s mission? To grow the company from an industry leader to a household name brand while staying true to the company’s core values of quality, culture, integrity, teamwork, growth and responsibility.

In the latest installment of Power of Small’s “Forge Your Path” series, Bill talks about his company’s commitment to culture, why “win the day” defines his leadership approach and where he sees his company in the next five years.

Q: When you think about what drives your company’s growth and success, what stands out to you as most important?

Bill: “Having a strong workplace culture is one of the things I concentrate on the most because it directly shapes our ability to succeed and grow. A strong culture helps us attract and retain top talent while inspiring our employees to stay engaged, motivated and aligned with our core values. This fuels greater productivity, innovation and collaboration.

Having spent part of my career in corporate America, I know firsthand how different the pace and environment can be. That experience sometimes reminds me to step back and recognize the unique culture we’ve built here as a family-owned and -operated company. One thing I never want to lose—or unintentionally change—is the workplace environment that makes us who we are.”

Q: Can you share a quote or mantra that defines your approach to leadership?

Bill: “The mantra I try to follow is ‘win the day.’ I use it as a reminder to stay focused on what needs to be accomplished today, while also keeping an eye on the long term. It keeps me grounded in daily priorities but ensures we never lose sight of the bigger picture.

I’ve been in this role for about 15 months, and while I’m committed to maintaining the family culture my dad built, I also bring my own style of leadership. For me, that means emphasizing accountability and embracing the pace of change. Those are values I work to instill in our team every day.”

Q: What accomplishments at your organization are you the most proud of and why?

Bill: “I’m especially proud that our company has reached its fourth generation of family leadership. Only about 3% of family businesses make it that far, which makes this milestone all the more meaningful.

Another accomplishment I’m proud of is being recognized in Louisville Business First’s ‘Fast 50’ list, which recognizes the fastest-growing companies in the Louisville area over a three-year period.”

Q: Where do you see your company in the next five years, and what are you hoping to achieve?

Bill: “We’re trying to grow internationally from a sales perspective. We’re expanding our manufacturing capacity here in Louisville, bringing on new machining capabilities. We’re looking to implement a new enterprise resource planning system to manage our daily operations. We’re focused on M&A activity that expands our core business of taking water out of the ground, moving it to a facility, moving it around a facility, removing it from a facility and putting it back in the ground. The other focus is keep doing what we are doing, but just do a little more each day.”

Q: Have you read a book and/or listened to a podcast that you found inspirational that you would recommend to your peers and why?

Bill: “‘The Bible in a Year’ podcast with Father Mike Schmitz—that’s pretty amazing. The podcast airs every day of the year, and each 20-minute episode features two to three scripture readings, Fr. Mike’s reflection and guided prayer. It’s a powerful platform to strengthen one’s spiritual growth and see the world through the lens of Scripture.

I also like to listen to a business and technology podcast called ‘All-In,’ which focuses on current events, market trends, political issues and industry insights. It’s kind of entertaining and contains insightful business conversations.

For books, one that I’d recommend is ‘Extreme Ownership: How U.S. Navy SEALs Lead and Win.’ It draws on lessons the authors learned as Navy SEAL officers. It talks about how great leaders take ownership for everything in their teams and how they must own both successes and failures, whether it’s in business, combat or everyday life.”

A recent invention by ExxonMobil could significantly change the electric vehicle battery game: a new kind of graphite (Bloomberg, subscription).

What’s going on: “We’ve invented a new carbon molecule that will extend the life of the battery by 30%,” Chairman and CEO Darren Woods said at the University of Texas at Austin’s Energy Symposium last Friday. He added that it’s a “revolutionary step change in battery performance.”

• Graphite plays a critical role in lithium-ion EV batteries, which the energy giant invented in the 1970s. The crystalline form of carbon helps lithium, a crucial battery component, maintain structural integrity and ensures that the batteries remain stable during charging and discharging cycles.
• ExxonMobil announced last week that it had acquired “key assets and technology” from Chicago-based graphite firm Superior Graphite to “complement [its] planned entry into the battery anode graphite market.”

Why it’s important: “Used on the anode side of the battery, the synthetic graphite allows for faster charging, a longer lifespan and longer range for electric vehicles.”

What’s next: While ExxonMobil isn’t planning to go into EV battery production, it says it will use its refineries, laboratories and plants to manufacture some of the materials for batteries—and begin extracting lithium, too.

• “[W]e do have capability of transforming molecules, and there are enormous opportunities in that space to use hydrogen and carbon molecules to meet the growing demand,” Woods said.

The Manufacturing Institute, the NAM’s workforce development and education affiliate, announced a new partnership between the Federation for Advanced Manufacturing Education (FAME USA), the premier American model of manufacturing skills training, and ShopFloor Coffee, a mission-driven coffee brand that supports skilled trades and manufacturing education nationwide.

How it works: ShopFloor Coffee will donate 20% of proceeds directly to workforce development programs across the country, including FAME USA, Robotics Education & Competition Foundation and All Within My Hands, Metallica’s foundation supporting skilled trades.

• “FAME USA is proud to partner with ShopFloor Coffee to support our shared mission of growing and sustaining a highly skilled manufacturing workforce,” said FAME USA National Director Tony Davis. “It’s about creating opportunities for students, celebrating those already in the field and building a pipeline of talent for the future.”
• “We’re honored to fuel the future of manufacturing through this partnership,” said ShopFloor Coffee Co-Founder Mike Franz. “This isn’t just about better coffee in breakrooms. It’s about waking people up to the power of American manufacturing and the programs, like FAME USA, that keep it strong.”

FAME: FAME offers a cutting-edge earn-and-learn model, in which students earn associate degrees while also working at manufacturing facilities. Students across the country have gone on to many high-paying careers at major manufacturing firms.

What’s next: Together, FAME USA and ShopFloor Coffee will shine a spotlight on the stories of students, apprentices and employers shaping the future, while rallying communities to invest in workforce development in new and creative ways.

The NAM is urging the Department of Justice to address the patchwork of state laws that are driving up costs and threatening U.S. manufacturing competitiveness.

• The DOJ requested public input on state laws that have “significant adverse effects on the national economy or interstate commerce,” by either creating barriers for businesses operating nationwide or undermining federal authority.

Why it matters: Manufacturers face rising compliance burdens and liability risks as they attempt to fulfill inconsistent mandates across 50 states.

• Small and medium-sized manufacturers already spend more than $50,000 per employee each year on federal compliance, and the regulatory conflicts among the states are increasingly adding to those costs.

Our take:  The NAM weighed in on more than a dozen regulatory priorities in environmental, energy, tech, health and food and beverage policy, emphasizing the following principles:

• Manufacturers need certainty. Legal and regulatory predictability is essential for manufacturers to invest, grow and create jobs.
• Federal preemption is critical where appropriate. Uniform national standards are needed in areas like AI, pharmaceuticals, food ingredient safety and labeling, greenhouse gas emissions and securities disclosures.
• Tort reform is urgent. Exploitive state lawsuits create conflicting outcomes and massive defense costs and divert resources away from innovation and job creation.

The bottom line: “Manufacturers need straightforward, standardized rules of the road that allow our industry to invest confidently, adopt new technologies swiftly and focus resources on productivity and jobs, ensuring America remains a leader in the global economy,” NAM Vice President of Domestic Policy Jake Kuhns told the agency.

The NFIB Small Business Optimism Index stepped up 0.5 points to 100.8 in August, remaining above the 52-year average of 98. August’s increase stemmed primarily from a rise in those expecting real sales to be higher. Of the 10 components included in the index, four increased, four decreased and two stayed the same. Meanwhile, the Uncertainty Index fell four points to 93, due to a decrease in uncertainty about financing conditions and planned capital expenditures. Nonetheless, the Uncertainty Index remained well above the 51-year average (68) and the average since 2016 (80).

Labor quality ranked first in the list of concerns for small business owners again in August, with 21% reporting it as the most important problem, the same percentage as July. The challenge of filling open positions remains acute, particularly in manufacturing, construction and transportation. On the other hand, fewer small business owners reported jobs they could not fill in August, down one point to 32% in August.

Taxes remained the second top problem for small business owners in August, with 17% reporting them as their most important problem, unchanged from July. Meanwhile, inflation ranked third in the list of concerns, with 11% reporting it as a top problem. Price increases remain above average, suggesting continued inflationary pressure and that tariffs may be starting to impact pricing.

A net 29% of small business owners reported raising compensation, up two points in August after decreasing six points in July. Meanwhile, 20% of business owners plan to raise compensation in the next three months, up three points from July. Pressure on profitability eased slightly, improving three points from July to a net negative 19%. Among owners reporting lower profits, 37% blamed weaker sales, 18% cited increased material costs, 10% noted price change for their product(s) or service(s) and 9% said labor costs. Meanwhile, 3% reported their last loan was harder to get than previous attempts, down one point from July, but a net 6% of owners cited paying a higher rate on their most recent loan, up one point from the prior month.

The outlook for general business conditions decreased two points to 34%, a positive read by historical standards. Additionally, 14% reported that it is a good time to expand their business, down two points from July, which is not a strong read compared to times of economic expansion. Nonetheless, small business owners remain optimistic that their uncertainties will be resolved and business conditions will improve by year-end.

The Producer Price Index for final demand (also known as wholesale prices) edged down 0.1% over the month in August, after prices jumped 0.7% in July. Over the year, producer prices moved up 2.6% in August, down from 3.1% in July. Meanwhile, prices for final demand excluding foods, energy and trade services increased 0.3% over the month in August, after rising 0.6% in July. Prices for these goods advanced 2.8% from August 2024.

Within final demand, prices for services slipped 0.2% in August, the largest decrease since April. Meanwhile, prices for goods ticked up 0.1%. The decline in prices for services is attributed to a 1.7% drop in margins for trade services, indicating companies are absorbing a larger share of those higher costs. Within the final demand services index, margins for machinery and vehicle wholesaling fell 3.9%, accounting for three-quarters of the August decrease. Within the final demand goods index, prices for iron and steel scrap climbed 2.7% over the month but rose just 2.3% from August 2024. Meanwhile, prices for private capital equipment for manufacturing industries jumped 4.4% over the year.

Processed goods for intermediate demand edged up 0.4% in August, down from 0.7% in July. A major factor in the advance can be attributed to a 5.5% gain in the aluminum mill shapes index. On the other hand, the index for utility natural gas declined 1.8%. Over the year, the index grew 2.6%, the largest 12-month increase since the 3.9% rise in January 2023.

Meanwhile, prices for unprocessed goods for intermediate demand fell 1.1% in August, after advancing 2.3% in July. More than three-quarters of the August drop can be traced to a 2.5% decline in the prices for unprocessed energy materials, with crude petroleum falling 2.8%. Additionally, prices for unprocessed nonfood materials less energy and for unprocessed foodstuffs and feedstuffs decreased 0.5% and 0.3%, respectively. Over the year, prices for unprocessed goods for intermediate demand increased 3.0%, the largest 12-month gain since the 6.5% rise in March.

In August, consumer prices increased 0.4% over the month and 2.9% over the year, up from the 2.7% annual rise in July. Core CPI, which excludes more volatile energy and food prices, rose 0.3% over the month and 3.1% over the year, slightly higher than the 3.0% 12-month increase in the month prior.

Energy costs increased 0.7% over the month in August, after declining 1.1% in July, and ticked up 0.2% over the year. Within the energy index, gasoline prices jumped 1.9% from July, after plunging 2.2% the month prior, and declined 6.6% from August 2024. Meanwhile, utility (piped) gas prices dropped 1.6% over the month, but surged 13.8% over the year.

In August, food prices rose 0.5% over the month, after staying the same as July, with prices for food away from home increasing 0.3%. Over the year, food prices advanced 3.2%, with food away from home jumping 3.9%. Meanwhile, prices for food at home climbed 0.6% from July and 2.7% from August 2024. All six indexes for major grocery store food groups increased in August.

The shelter index grew 0.4% over the month and 3.6% over the year, a significant driver in the headline increase, while also continuing its downward 12-month trend since peaking at an 8.2% annual gain in March 2023. Meanwhile, prices for used cars and trucks soared 1.0% over the month and 6.0% over the year. Relatedly, motor vehicle maintenance and repair jumped 2.4% from July and 8.5% from August 2024.

Both the headline and core inflation rate have ticked up in recent months amid an increase in core goods prices, but likely not enough to deter Federal Reserve officials from cutting their interest rate target later this week, particularly since weakness in the labor market has increased notably. Therefore, markets anticipate that the Federal Open Market Committee will lower its interest rate target by 25 basis points at its meeting this week, with a growing segment of the market calling for a 50 basis point cut.

Mexico announced this week that it will raise tariffs by 50% on automobiles made by China and other Asian countries (Reuters, subscription).

A broad effort: The increase is part of a broad range of trade policy changes, “which will increase tariffs to varying degrees on goods across multiple sectors including textiles, steel and automotive [vehicles], would impact $52 billion of imports.”

• Mexican tariffs on Chinese cars currently stand at 20%.
• Other policy changes include a 35% tariff on steel, toys and motorcycles and tariffs on textiles of between 10% and 50%.

The rationale: “[Mexican Economy Minister Marcelo] Ebrard said the measures, which come just within limits imposed by the World Trade Organization, were intended to protect jobs in Mexico as Chinese cars were entering the local market ‘below what we call reference prices.’”

The big picture: Analysts see this move as an effort to align Mexican trade policy with the Trump administration’s aims, as the two countries continue to negotiate over their own trade ties.

• President Trump has urged U.S. trading partners to reduce their economic ties with China on security grounds.
• “‘The U.S. is not going to allow China to use Mexico as a backdoor,’ said Mariana Campero of the CSIS Americas Program, adding that Mexico has doubled its trade deficit with China in the last decade, hitting $120 billion last year.”

USMCA: The U.S.–Mexico–Canada Agreement, which the NAM was instrumental in achieving during President Trump’s first term, is up for review in 2026.

• The NAM remains one of the foremost backers of North American trade, at a time when one-third of all imported manufacturing inputs now come to the U.S. from Canada and Mexico.
• The trade agreement has also been crucial in helping the U.S. outcompete China; today, U.S. imports of manufacturing inputs from North America are more than three times the quantity imported from China.

Making “draconian changes” to the Securities and Exchange Commission’s regulatory approach to non-U.S. companies could result in reduced foreign investment in U.S. manufacturing, among other negative repercussions, the NAM told the agency this week.

What’s going on: The NAM has urged the SEC to “proceed cautiously” in considering changes to the definition of “foreign private issuer,” which are foreign-owned companies with shares that trade on American stock exchanges.

• FPIs have raised capital from U.S. investors and invested billions of dollars to expand their U.S. manufacturing operations, a trend that is expected to continue during the second Trump administration.
• The SEC exempts FPIs from many of the disclosure requirements that apply to domestic companies because FPIs are presumed to be closely regulated in their home countries.
• However, in recent years, there has been a surge of FPIs that are headquartered in China and/or incorporated in the Cayman Islands, prompting concern among SEC officials about whether there is sufficient regulatory oversight of these companies and protection for their U.S. investors.
• The SEC is considering tightening the FPI definition, which would reduce the number of foreign firms that qualify for FPI regulatory relief. Such an action would increase compliance costs for those companies that lose their FPI status.

Why it’s important: Without the accommodations under the current definition, “it may be difficult for [FPIs] to retain their dual listings in the United States—potentially threatening their ability to access capital in the U.S. and expand their U.S. operations,” the NAM said.

• “While we share the [SEC’s] interest in protecting investors and ensuring that U.S. companies do not face undue regulatory burdens when competing with foreign firms, [overly strict adjustments] to the FPI definition … would have the unintended consequence of deterring foreign companies from raising the capital they need to expand their U.S. manufacturing operations,” the NAM told the agency, in response to an SEC call for public input on possible eligibility changes.

What should be done: The NAM outlined three alternative ways for a company to continue to qualify as an FPI:

• If it is traded on a major foreign stock exchange
• If it is based in a country with robust disclosure rules and investor protection regulations
• If its home country negotiates a Multijurisdictional Disclosure System agreement with the United States

High schools and community colleges in Colorado are increasingly offering students an alternative to a four-year degree: training programs that will prepare them for well-paying jobs in manufacturing (KUNC).

What’s going on: At CEC Early College in Denver, the Cherry Creek Innovation Campus in Centennial and other campuses, apprenticeship “programs are coming back, in part, through funding for career and technical education. In Colorado, 69 manufacturing programs operate at high schools across the state.”

• CoorsTek, a Golden, Colorado–based manufacturer of technical ceramic products, trained 18-year-old Genesis Gomez on its complex machinery—including its computer numeric control machines—during Gomez’s apprenticeship through Early College. Gomez has since graduated and is now a full-time CoorsTek employee.
• Andrew Sutliff, an 18-year-old current apprentice at CoorsTek through Cherry Creek Innovation Campus, is planning a career in manufacturing upon graduation from the program. “I would much rather do this than sit in a classroom for another four years,” he said.

Why it’s important: Though U.S. manufacturing job openings have declined slightly  since 2024, talent acquisition remains a top manufacturer concern nationwide.

• “While job openings still remain significant, even though the pace of hiring has slowed, this creates space for employers to refocus on long-term talent development … like apprenticeships and upskilling,” NAM Chief Economist Victoria Bloom told the news outlet. Bloom is also head of research at the Manufacturing Institute (the NAM’s workforce development and education affiliate).
• In July, there were 437,000 manufacturing job openings in the U.S., down from the half-million jobs averaged throughout 2024.

Check it out: For more information about apprenticeships and other job-training programs, visit the MI’s website here.

• And to learn much about the industry’s most effective workforce strategies, join the MI for its Workforce Summit Oct. 20–22 in Charlotte, North Carolina.