Carolina Specialty Tools expanded to other woodworking customers when the economy took a downturn. Now it's grabbing market share and increasing its bottom line.

In 2006, Tim Weaver, president of Carolina Specialty Tools, made what many would consider a risky move: he expanded the business to include poly crystalline diamond (PCD) tools. The decision involved purchasing nearly $1 million in new machinery, a big chunk of money for this small North Carolina company. Furthermore, while the potential for revenue from PCD tooling clients was large, there were no guarantees.

However, the risk has paid off. Since making the leap to sharpening PCD tools, the company is now able to offer a larger ...

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