Complete Story
07/11/2023
Quoins2Pixels
Source: The Management Guys, July 6, 2023
Take Action – OSHA Compliance
In what seems a cyclical approach from OSHA, they’ve recently announced that they will be taking a much more aggressive approach in handling serious violations, with historic increases in fines and how they classify violations. Although our focus should always be on employee safety, being exposed to punitive fines . . . and the negative publicity brought by violations . . . are not factors to ignore.
Saving Into Success
We read an article by a well-known industry consultant who had analyzed the financial statements of a money losing firm and prescribed a series of cost reductions. A save yourself into wealth approach. What was missing was any analysis of possibility of increasing sales.
The Right Time to Buy . . . or Sell?
One of the industry’s M&A experts recently reported a significant drop-off in “deals” within the printing industry. Although this may not be a true indicator of the buy/sell market, it does create questions for those owners wishing to expand through acquisition or sell their business. Although there are always restraining factors of when to buy or sell, the seller/buyer should look at their reasons for selling or buying without being concerned about a “hot” or “cold” market.
“Self-Supporting”
Thoughts from Gerry Michael… Capital equipment is never “self-supporting.” Remember all the illustrations you’ve probably seen when evaluating potential equipment acquisitions? The ones that I always enjoyed were the illustrations of all the “new revenues” that would come from investing in some new press, or other technology. It was as if all those sales were out in the market, looking for a home. But the truth is that this is just another example of, “if you build it, they will come” mentality.
It’s Cheaper To Buy It Out . . .
We got an order for a job which our estimating software thinks would cost $1,000. However, another shop would do the job for us for only $850. Wouldn’t the sensible decision be to farm the job out to them and put the $150 in our pocket?
quoins2pixels—the bi-weekly, nuts and bolts management newsletter
Graphic Media Alliance is proud to share this publication which is short, easy to read, but totally focused on the nuts and bolts of the actions that will increase your profits. quoins2pixels is written by Bob Lindgren and Joe Polanco. Bob and Joe have spent decades in the printing industry, and throughout their careers, they have counseled hundreds of company owners on a variety of management topics. As a value-added service of Graphic Media Alliance, they are available to expand on these articles, or aid with projects.
