It’s a common mistake made everyday by many businesses throughout the world, trying to improve their business by using a false economy. No matter how many times you think you’re saving some money by just doing something off the cuff, all you end up doing is costing the business more, in either time, money, or even worse, both!
So, what are we even talking about when we say false economy?
A great example of this is of a wholesale nursery Company who needed to expand. In order to do that, they had to hire more staff, and with more staff it meant more equipment needed to be purchased. The Company was looking at hiring an additional 5 staff members and purchased 5 new grounds vehicles to enable them to do their job effectively. There was a deal going on the vehicles, so the owner got a bargain by getting them at almost half price because he was buying 5 as a private purchase. Everything seemed to going great, the Company continued to grow, the new employees fitted in perfectly and production increased.
But then after a couple of months, one of the new vehicles had an issue and needed to be repaired. It wasn’t covered by the warranty as the Company was using it commercially and the owner bought them as a private sale. This was the start of the false economy falling down. First one, then another issue popped up, and soon all the “new” vehicles were needing repairs costing more and more. It wasn’t long before one of the vehicles just died completely. By this stage, the amount the Company had paid to repair the vehicles was more than a new vehicle cost, at full price. The Company owner could not afford to buy a new vehicle, as he was still paying to repair the 4 others. He had to let go of one of his new staff members and income from his Company was reduced due to lack of output. By trying to save money initially, he ended up costing his Company more than it could afford.
This is one example on an extreme scale, but it happens all the time in smaller transactions throughout every industry. Instead of investing in the business with good quality products, the business will spend more money on multiple products to do the same job. Accentis Enterprise aims to eliminate this by giving business owners an advanced management solution. How can you tell if your business has been operating a false economy? Have a quick look at all your business processes, software and solutions? Most likely, you have multiple software products that either do specialised jobs but don’t integrate with each other, or you’re using a free/cheap service with limited capabilities, inhibiting your business from being able to grow. When was the last time you were held back because of one of these situations?
It doesn’t need to be that way, as Accentis Enterprise does improve any business. We know, because we see it every day! Stop hindering your business by ripping it out from the bottom-line creating a false economy, and get a real solution to help you achieve real results. Contact us to find out how we can help your business today!