The right equipment can improve your processes, productivity, capacity to innovate and bottom line.
But to get those results from a major capital investment, you need an investment plan that addresses both your short- and long-term needs. Not only will you save time and resources, but you'll also avoid costly quick fixes.
These nine tips will help you make the right equipment purchase.
1. Assess your business reality
It is important to understand your objectives.
- Are you looking to increase productivity?
- Will this new equipment make you more successful in the marketplace?
- Will it help you stay ahead of your competitors?
- Can you upgrade instead of buying new equipment and still get better performance?
Be sure you have answers to these questions before you buy. Avoid being influenced by aggressive marketing campaigns that make unrealistic claims.
2. Get an external point of view