The best tips to grow your CNC machine business.

Here you will find posts on ideas or dreams for the entrepreneur or small business who wants to utilise CNC or just general brainstorming to make money with a cnc machine
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lorraine
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Joined: Tue Mar 17, 2015 6:31 pm

The best tips to grow your CNC machine business.

Postby lorraine » Tue Mar 17, 2015 6:33 pm

Hi everyone. I have a small CNC shop and I have been thinking to it. As a matter of fact, individuals with small business face competition and other challenges including obtaining contracts and expansion in the market. I need some insight that may help to expand my business.

albertthegentiler
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Joined: Tue Mar 03, 2015 10:04 am

Re: The best tips to grow your CNC machine business.

Postby albertthegentiler » Tue Mar 17, 2015 6:35 pm

Hi. I think that the easiest approach is to build partnership with existing friends or colleagues. Starting a machine shop can be challenging since tasks such as client lists, floor plans or volume expectation has not been solved. It is highly recommended that you use your friends to steer clients to your direction. You can also seek advices on business practices from the existing business connection. The point is partnership will help you to boost your small CNC machine business in less time.

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Lambot909
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Re: The best tips to grow your CNC machine business.

Postby Lambot909 » Tue Mar 17, 2015 6:35 pm

To piggyback what u/ albertthegentile has said, running a new business is not one man show. However much one man tries to run it, it becomes challenging since those who have tried to run it independently have failed during the process. Yes, I agree developing partnership is ideal for the growth of your business.

albertthegentiler
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Joined: Tue Mar 03, 2015 10:04 am

Re: The best tips to grow your CNC machine business.

Postby albertthegentiler » Tue Mar 17, 2015 6:37 pm

Yes, your goal is to expand the business but take caution. Don’t be in a hurry to expand it. There are still a number of things to deal with. While in a rush, you may purchase very expensive machines and other enlarging facilities without taking into account the lack of staff or the financial stability of the business. These whole quick decisions can slow down the revenue growth and in turn hinder the long term expansion of your business.

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lorraine
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Re: The best tips to grow your CNC machine business.

Postby lorraine » Tue Mar 17, 2015 6:39 pm

So what is the remedy to this whole mess?

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BULLDOG
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Re: The best tips to grow your CNC machine business.

Postby BULLDOG » Thu Mar 19, 2015 6:45 pm

I would recommend that you be patient and take some time to analyze on the business priorities. Whatever decision you make will influence the financial stability of the business. Since your CNC machining business is new, just ensure that the business has fully established first before thinking of expanding it.

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lorraine
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Re: The best tips to grow your CNC machine business.

Postby lorraine » Thu Mar 19, 2015 6:47 pm

I agree completely!
I think the focus should be in producing steady gains rather than uncertain giant gains. I know a number of small shops which fewer than a dozen of machines and a couple of employees but they can still meet and sometimes exceed the national productivity on average.

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Jahrastafarai
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Re: The best tips to grow your CNC machine business.

Postby Jahrastafarai » Thu Mar 19, 2015 6:47 pm

You want to expand your CNC machining business? I have a friend who is a very successful businessman and he says that his success is simple. He keeps his eyes open. So my advice to you is this: Be open to the new technology. Adoption of a new technology is crucial for the success of a CNC machine business. Moreover, new technology will allow you to diversify, attract more potential customers hence the growth of your business. The rewards shall come in time.

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lorraine
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Re: The best tips to grow your CNC machine business.

Postby lorraine » Thu Mar 19, 2015 6:48 pm

Yes, you hit the nail directly on the head Jah. I totally think that as a business person, you should be ready to accept the new technology. It does not go without saying that new technical innovation can be quite costly when it comes to the additional training of the staff required and initial setup.
The thing is, the technology adopted will have favorable long term effect on your business by simplifying production methods and providing an efficient means to accomplish tasks which were once considered impractical.

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falanyani
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Joined: Sat Feb 21, 2015 6:34 pm

Re: The best tips to grow your CNC machine business.

Postby falanyani » Thu Mar 19, 2015 6:49 pm

Guys, I am sorry about what I am going to type. For the record, I respect your views very much but I just think there is more to the machining industry than just going for the latest machinery in the market. I will side with Albertthegentile on this matter.
I think every business whether small or large business units should slowly accept the changes in the environment. A quick adoption of changes can adversely affect the business. Really. Lorraine, I had rather caution you about this or you'll learn the hard way. And then I'll feel bad for you as a fellow machinist.
New technology is one of these changes. One advantage of adoption of a new technology is that, it helps the business to remain competitive, more especially after the innovation has gained a widespread notice. Rather than jump into the latest bandwagon, I strongly suggest that you critically think about every new addition to the business as though you were venturing for the first time again. Those are my two cents.


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