The printing industry is changing at a rapid pace, driven by new production technologies, changes in demand, and competition from other media for time and money. To compete in this transitional market, printers need to adapt to changing market conditions. Although some of the companies that are still entrenched in traditional processes are undoubtedly experiencing ongoing success, statistical data indicates a high failure rate in the industry.

Think Patented (Dayton, OH) embarked on a transition strategy to improve its competitive edge in today’s turbulent market. The company is broadening the set of production tools that it uses, embracing value-added services, and refocusing itself on becoming a marketing services provider. While digital printing is on the rise, the company decided that a focus on services in addition to print would be essential for success.

This past week, I had the opportunity to interview Niels Winther, Chairman and Managing Partner, and Ken McNerney, CEO and Managing Partner. With demand plummeting and many companies shutting down operations, the past decade has been brutal for many commercial printers. Think Patented has managed to buck this trend. McNerney and Winther purchased the company in 2006 and have been working to transform it into an execution arm and an extension of corporate marketing departments. According to Winther, “When we bought Think Patented, we created a strategic business plan based on our vision of what we wanted to be. We knew that print alone was not going to make us into a growth company. Our vision was to identify strategic acquisitions that would help us expand our customer base and value-added capabilities. The economic downturn made it so we couldn’t move as quickly as we wanted, but we are clearly seeing an upturn in the market.”