My good friends at Ink Solutions have done it again, they’ve stayed in front of the train, refusing to lose ground and finding ways to do their business better and more profitably despite changing conditions. They are an inspiration for us all and are showing us how it is done.
They have been growing steadily and have been experiencing a manufacturing bottle neck. They refill empty ink cartridges for printers and have sophisticated, expensive state of the art equipment. It is however a constant problem to stay ahead of demand. They also have a training and employee issue, as it is not an easy task and requires much training to become proficient; additionally, absenteeism and employee turnover is a problem, so they had set out to train a few qualified employees in handling this vital AND labor intensive task…until they re-thought it all.
They theorized that while committed to the refill process, there was an alternative. They could purchase inventory already refilled and satisfy their demand without manufacturing. The profit potential had to be evaluated to determine if this major change could satisfy their profit requirements.
First they determined how much it actually cost them to refill, then they talked with their suppliers, who agreed to lower prices for larger quantities, if they gave them all their business. The result? That it was more profitable to buy existing quality product -and far less of a headache then refiling themselves.
Thus they will now sell their machinery, re-allocate their space and solve their demand issues without additional employees. This will allow far more rapid growth, with far fewer headaches and employees. Gone is the manufacturing process. They are now purely involved in marketing and sales.
That’s a business reinventing itself. That’s a business solving difficult business problems by stepping outside of the original plan and making major systemic changes that change the entire process, but changes that make sense under the existing conditions.
Re-evaluate your own business. Are there better ways you could operate?
Do not be locked into a commitment to do it one particular way, even if you are heavily invested in a particular process. Be open to various different alternatives. Examine alternatives and be bold, dare to make major changes, try them out on paper first and then if it looks good try it.
Think about it…reinvent your business. The downturn economy requires such evaluation and adjustments.
Sometimes change is appropriate as volume grows or other changes occur. A successful business owner cannot be rigid. Re-invent your business as often as necessary, but never stop examining alternatives.
Ink Solutions is a great business. Better now. Check them out, as they offer an ‘unfranchise ‘deal which offers a complete hands on training and support program for a terrific recession proof business for a very small investment. Call them at: 413 517 0099 ask for Karl. Check out their web site and blog:
www.Inksolutionsma.com Inksolutions.wordpress.com
