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Is Procrastination Draining Your Manufacturing Business?

Posted by Sara Singh on Feb 25, 2014 2:24:00 PM
Sara Singh

Keeping a business healthy and successful requires business owners to be aware, proactive and well organized. Procrastination is detrimental to productivity because urgent and critical business tasks are impacted by hasty mistakes and delays – or worse – are left unfinished.  

  1. now-later-270x203Increased stress: If machinery is left unattended for extended periods of time, it can rust and show other obvious signs of wear and tear, in addition to defects that are unidentifiable especially if the machine is no longer running. Similarly, putting tasks off such as buying and selling machinery can add stress to life because the sales process in general – particularly for high-ticket items such as machinery -- is a tedious process, and leaving it till the last minute can result in increased levels of stress and pressures to sell with little time to market.
  • Experienced machinery dealers can take on the tasks of buying and selling your machinery since they have industry exposure and a large network to tap into quickly. They will be able to handle deals strategically and ensure that the logistics are managed properly, while you go about taking care of your day–to-day business. 
  1. Quality of deals suffer: When so much time is lost due to procrastination, it is hard to find someone to buy or sell your used CNC machines at a desirable rate by a required move-out date. Whether unforeseeable circumstances occur, or just a lack of time sufficient to get the word out about the machines, sometimes deals just need to be done in a hurry.
  • Machinery dealers will effectively promote your machines by posting through a variety of marketing channels and reaching out to an extensive network (MMI’s own network has about 250,000 contacts). Aside from advertising the machinery, an effective dealer would be able to facilitate the transportation. This way, you can get the best value for your used CNC machine without having to endure the stress and compromises involved in a conventional transaction. 
  1. Inhibitions in cash-flow: Development is crucial to business, a stagnant cash-flow will have a negative impact on your spending power. More often than not, procrastination leads to surplus used machines sitting for extended periods in inventory. The cash needed to buy a newer CNC machine, open up space, or make updates to the business or other improvements are impacted as a result.
  • If the machine is sold, then that cash can be used for more productive purposes, turning your liability into a reallocated asset, instead of being a non-functioning hunk of metal. Selling a used CNC machine also can create some extra cash for business emergencies. 
  1. ditch-your-procrastination-habitsNeglected business image and reputation: A business comes to be known by its reputation: if the business has a reputable work ethic, it will gain the trust of both current and potential clients. Similarly, the image of a business often is comprised of various components such as products and services, employee morale and quality of products and services offered. If the machinery used in an organization is outdated or inefficient, contracts and orders may fall through to other manufacturers.
  • While buying new machinery is expensive, updating current machinery to a newer make/model of CNC machines is not as costly. Dealers will conduct the research, communications and negotiation necessary to help you sell your outdated machinery at top market rates. You can then invest that cash to update and buy newer machinery, increasing both the productivity and longevity of your company.
  1. Negative messaging about responsibility and commitment: Your business is like your child, but even when the child grows up and is doing fine or even thriving, you still want to make sure that you are showing your responsibility and commitment towards him/her. Similarly, if your surplus machinery is sitting around without an order, it is likely time to sell it and move on to a better, more efficient machine that can attract and create new orders. Making a necessary upgrade shows commitment to productivity and your organization’s vision. Additionally, this ensures workers at your facility that their company is keen and proactive about the products/services they are offering, which includes the CNC machines needed to produce those offerings. Investments such as these ensure long-term, sustainable benefits for the entire company.
  • Making an effort to be at pace with the times will demonstrate to your employees that you care about the business and their jobs, as well as show your commitment to the work you do. In addition to your bottom line, making necessary upgrades is important for employee morale and productivity so that they can perform their jobs better. Dealers can help you with the entire process, without having any interference with your daily life.

 Contact MMI Today to Schedule a Brief Consultation to Sell Your Machinery.