TLMI Converter of the Year

Label Technology President John Bankson can savor individual and collective accomplishments as his company turns 15.

by Kate Tomlinson, Assistant Editor

Congratulations are in order for Label Technology on several counts. As the company marks 15 years in the business, and revels in the installation of its latest printing press, the personality and personal touch of president and co-founder John Bankson deserve particular acclaim.

Bankson's entrepreneurial spirit; positive "can do" attitude; and dedication to delivering consistent high quality and service in printed labels and packaging films have led Label Technology to outgrow two previous manufacturing facilities; skyrocket both its sales and employee base; and establish a strong presence in new labeling markets. For accomplishing impressive growth in a short time span, the Tag and Label Manufacturers Institute (TLMI) and packagePRINTING toast John Bankson as packagePRINTING's TLMI 2001 Converter of the Year.

Building a business

Bankson's story epitomizes the American dream. He found an industry he loved, built a company from the ground up, and now spends each day enjoying the empire. "John should be very proud of his company—his plant is spectacular," says Mike Dowling, president of the TLMI. "Whenever you get to be that successful and share it with your family, it must be a great feeling. This is one case where the good guy did finish first."

A Pittsburg, CA, native, Bankson graduated from San Francisco State University in 1960 with a B.A. in business administration/marketing. After spending more than 20 years in other people's converting businesses, Bankson and his 18-year-old son, David, decided to open their own pressure-sensitive label company, Label Technology. That year the company's gross sales were $285,000, which to date is the only year it did not turn a profit. By 1993, the company had made Inc. Magazine's list of the Top 500 Fastest Growing Privately-Held Companies two years in a row.

"I try to focus on the changing needs of both our customers and the marketplace," Bankson says. "In the beginning, many of the big decisions were made by the seat of the pants. For the last few years, we've had a business plan and a budget. The key is to logically keep up with them both." Overall, Bankson feels fortunate to have made many good, strategic moves along his road to the top. "David and I purchased equipment at the right time. Luckily we have amazing customers, vendors, and colleagues and we couldn't have gotten here without them." Most recently, the company has ventured into narrow-web, non-pressure-sensitive markets.

What is Bankson's advice for starting a business? He strongly believes an entrepreneur must have a high tolerance for stress and a good sense of humor. "My key was hiring the best sales, marketing, customer service, and manufacturing people I could find," he says. "Additionally, know how to purchase the best technology available. It will pay off in the end."

Bankson also learned early on to lean on his peers within the industry. He believes they can offer the best advice. "Don't be afraid to call on your peers and ask questions. Most of them know what it's like to be the new guy and in the beginning, I found them to be one of my most valuable resources."

Looking inward, growing outward

Bankson attributes his accomplishments to a combination of knowing his own strengths and weaknesses and a lot of luck. He believes constant self-appraisal is the best way to keep everything in check.

"John is definitely a traditionalist—he remembers where he came from and how he became successful," sums up Frank Sablone, executive director of TLMI. Sablone largely attributes Bankson's success to his personality and attitude.

Bankson particularly values the opportunity to work with his son, David. "We've always had a terrific relationship, both personally and professionally. During the last 15 years, we have hit very few bumps," Bankson remarks.

"While 'JB,'" as David refers to his father at the office, "is a very smart business man, he is also very easy to get along with. He gave me a lot of responsibility at a young age and allowed me to make mistakes and learn from them," he says. David explains the pros and cons of working with family: "We never had a lot of major problems because we worked out early on what was expected of each of us. He allowed me the freedom to run the manufacturing department my own way, but there was a line I knew not to cross. Luckily, he is a very patient man," he concludes.

Overall, Bankson realizes employees make a company. "Label Tech strives to employ the best people," Sablone comments, "and John trusts them to do their jobs." David reinforces this: "As long as JB likes what is going on, then this company is run as a democracy. He's generally very supportive, which makes a tremendous difference in the lengths his employees will go to for him."

Keeping his employees "in the loop" has solidified relationships and unified the company. "The decision to offer 401K and ESOP (employee stock ownership) plans has proven to help our company in countless ways," Bankson says. "The ESOP option allows everyone to feel like they are a true part of this organization ... which shows in the quality and productivity of their work."

A leader on many levels

Bankson has competently handled the duties of numerous positions within TLMI, and Dowling believes Bankson's willingness to step up to responsibility makes him a good future candidate for the association's presidency. "John spends a lot of time learning about the industry and helping others out," Dowling says. "He is very accessible and approachable, and other members know that."

Bankson first joined the TLMI in 1992. He served on the board of directors in 1998-99, chaired the converters' meeting at Spanish Bay that same year, and is now vice president. "John is very committed to TLMI," says Sablone. "He understands what it takes to get a job done." Bankson has also shown leadership in establishing relationships, going out of his way to meet new TLMI members and introducing them to others.

John Bankson, Co-founder and President

Label Technology, Merced, CA

Personal: John Bankson graduated in 1960 from San Francisco State University with a BA in business administration/marketing. He soon took a position with a label and paper converting company. After 20 years of promotions, Bankson decided it was time to go out on his own. In 1986, he and his 18-year-old son, David, started Label Technology, Inc. Bankson has been married to his wife, Sylvia, for 26 years. They have five children and nine grandchildren.

Label Technology: Label Technology was born in Bankson's garage with three employees and a 4˝ Mark Andy label press. Today, in addition to celebrating its 15-year anniversary on Oct. 27th, Label Technology boasts a fully climate-controlled pressroom with six Nilpeter, Roto Press, and Mark Andy presses up to 20˝ wide, and nine-color printing capability. Its newest acquisition, a 16˝, nine-color Roto Press film press, arrived in July. With three facilities and boasting over 80 employees, Label Technology reported sales of $13.5 million in 2001.

Association Involvement: Bankson joined TLMI in 1992. He served on the board of directors from 1998-99, chaired the 1999 converters meeting at Spanish Bay, and is currently the association's vice president.