Stepping Up During Tough Times
Another challenge is the replacement of capital equipment. One key is to ensure you have a strong preventative maintenance program in place. This may extend the life of equipment until capital funds become available. When you are ready to make a request for capital funds, build a good business case including how your costs compare to those of an outside vendor. Take a look at used equipment. There may be some great deals that meet your needs. Doing a multi-year Net Present Value (NPV) comparison is helpful, assuming your NPV of costs is lower than what an external vendor would charge.
Wes Friesen is a proven leader and developer of high performing teams and has extensive experience in both the corporate and non-profit worlds. A former in-plant manager, he is also an award-winning university instructor and speaker, and is the president of Solomon Training and Development, which provides leadership, management and team building training. His book, Your Team Can Soar! contains 42 valuable lessons that will inspire you, and give you practical pointers to help you—and your team—soar to new heights of performance. Your Team Can Soar! can be ordered from Xulonpress.com/bookstore or wesfriesen.com. Wes can be contacted at wesmfriesen@gmail.com.
