Strapped for Cash? Get Creative
HERE'S THE situation: you need to update your equipment, but your financial circumstances say, "There are no funds available." So how do you buy what you need, so you can continue to improve your operating performance, when there's no cash, and no budget approved for needed equipment?
In such a scenario, equipment you have now may seem to be running on "tired legs"; previous budget requests (or financing) were turned down (nothing personal—all capital equipment requests were turned down); equipment breakdowns are leaving your employees discouraged; and lower productivity and increasing spoilage are taking a toll on morale. What's more, production standards are not being met due to lower employee expectations and decreasing equipment performance.
