In this difficult economic time you’ve got to be on the look for ways to be more profitable. In a recent conversation with a co-owner of Preferred Pack I learned about one of their innovative products that has been proven to increase productivity 18%. The best part is that it’s actually inexpensive.
For a modest investment you can have faster workers and shorter shifts. It pays for itself in the first 3% of it’s useful life*. The problems is that when sales are dropping it’s difficult to get the courage to invest even $4,500 in the business. Yet, this is exactly what you should be doing.
Now don’t get me wrong if you’re in financial distress you should most likely stay in survival mode. But for everyone else it’s important to not get to wrapped up in this quarter and start looking to the next year, 5-years, 10-years. If you think like this then making a small investment that will yield returns for many years to come begins to make sense.
Even if you’re business doesn’t need packaging equipment the concept is the same. Have you been putting off that next investment in your business because you’re afraid?
* Useful life is about 12.5 years
