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Sean Hubbard Spida Machinery
Don’t Forget! You Saw it in the
Adverti$$er
December 2020 #12257 Page #17
How Can Equipment Choice Affect Long Term Success?
oday’s equipment is ever evolving. Innovation has indeed added more complexity than ever for the building components industry. Capital expenditures should be planned and calculating rather than intimidating and emotional. There are several key steps entrepreneurs and businesses should consider to narrow the search for capital equipment purchases.
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Identify current needs, current limitations, future needs Making a list to identify the current needs and the future expectations of the business can help keep thoughts focused. Focusing on the business plan as a whole is instrumental to success. Creating a micro business plan around the new equipment contributes to the corporate business plan as a whole. Business plans available online are extremely helpful in narrowing the search. Is it high production need, or a specialized production need? Does market volume fluctuate? Could the process be outsourced? Can the service be marketed to multiple customers? Once your goals are established, then you can begin to research industry offerings.
Compare the industry’s product offerings New equipment versus used equipment can often be a personal choice. The criteria determined by the preset goals will frequently dictate automated versus manual processes. Industry publications and advertisements can help identify key players and product offerings from industry experts. Some vendors may offer broader product ranges than you may realize, so websites will show what they have available and are a great source for up to date information.
Ask for demonstrations and request referrals Viewing the equipment in person can often improve the project’s success. Sales staff tend to overlook smaller details that may be cumbersome for a specific company. When site visits are not an option, always speak to a reference. Candid conversations about the longevity, service, and support will further contribute to the overall success.
Assess equipment and installation costs while considering the transition period Having been in the equipment industry for nearly 30 years, I know some customers may be caught off guard by the costs that can be associated with the installation and transition costs. Inquire Continued next page
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