Posts tagged #Risk

The Invaluable Insight From Customers That Care

One of the best things about having good relationships with customers is the feedback you gather on a daily basis. This can be invaluable when you take big steps that benefit you, your company and your customers.

The last few months, putting everything together for our new investment took a lot of time and effort. Mine and my fathers minds have been fixated on making sure we had t's crossed and i's dotted for the purchase and installation of our new CNC plasma machine. As of today, the battle continues for the next few weeks until the machine is completely setup and calibrated with our perfect settings, ready to use.

During this time we have had many customers in and out of the shop to see the new addition and discuss what has been going on with the company in the fourth quarter of last year and into the new year. All of them have been fantastic. They genuinely care, wanting us to succeed and wish us luck with anything that pertains to our new investment.

The best part of our interactions are the questions about minute details pertaining to the machine. Things I haven't even thought of over the course of the process. Great inquiries which I lock into the mind vault, adding to my growing list of questions for the techs.

It's amazing what you completely overlook when you're focused on other things. Even when you feel like you're totally focused, you're not. My customers have saved me the time of sitting, racking my brain to list questions for the techs when they come to finish the installation process. Questions that seem so obvious when I hear them out loud. I think to myself, "How could that completely obvious and logical question totally escape me?"

They will never know how grateful I am for these insights. Everything going on these days is new and scary (good scary) territory for our company. The process has been exhausting, but beyond enjoyable because it's exciting to know that you are taking steps forward instead of sideways.

The adventure continues...

 

The Fear is Real

I realize how melodramatic that title may seem, but in regards to our recent investment, the fear is real and if I sit and think too much, it scares the hell out of me. Not the fear of making the actual move to sign our life over to the bank, but the fears that the future will bring enough work to pay for our new equipment. Obviously, investing in yourself and the business is the only way to grow and be successful. Taking the emotion out of any investment is the hardest thing for humans to do. The people who can take that emotion out of the transaction have the upper hand. Some of the best stock traders and investors have the intangibles to subtract those feelings that keep regular people from risk.

My goals are to grow the company and work my ass off to make sure these fears are completely unfounded. However, they are real in the sense of learning new things and creating new lines of business. Not to mention the facts of becoming more of a salesperson rather than a trades person. These are risks my father and I must take in order to reach any of our new benchmarks.

My father is a tradesman through and through as am I. The difference is my interest love of business and how it works on a daily basis. My schooling is lax when it comes to running a business, but my experience is 15 years in the making. I have learned so much over the years, along with being a sponge when it comes to anything involving business and investing.

The next steps for our company are beyond exciting, but the fears are real and need to be acknowledged. Pushing them down doesn't help you grow as a businessman or person for that matter. Taking on calculated risk is the only way for us to make the leap. My shoes are tied up tight.

Change is scary. Embracing the fear to accept the change is the catalyst needed for growth. IMHO