10 Tips for Growing Your CNC Business Part Two
Last week we discussed five of the ten best ways to grow your new CNC business or expand your existing one, such as being open to technological advances, following demand, and developing partnerships. This week we bring you the remaining five, which are guaranteed to help your business flourish, regardless of whether or not you’re just starting out or have been in business for years.
Tip # 6: Be Pro-active With Competition
Being aware and staying on top of what your competition is doing is a valuable way to help grow your business. Don’t sit idly by and wait to see what they do with market fluctuations-be prepared to move with the trends before anyone else does.
Tip #7: Be Flexible
Combining both internal fabrication and machine operations can save time or money by buying the equipment needed to add secondary work to your primary focus. Having the flexibility to use a cutting laser to smooth and evening edges in post-fabrication finishing, for example, keeps you flexible and on top of your game.
Tip #8: Integrate
While full vertical or horizontal integration may be beyond the scope of what your company is capable of at this time, bringing as much of the manufacturing process in-house as possible is still helpful. Organizing production schedules around your in-house capabilities and prioritizing your jobs based on your production rather than that of your external suppliers will smooth your workflow and eventually improve your output, expanding your business seamlessly.
Tip #9: Initiate Sociable Growth
Quite often, successful growth depends less on the size of the products being manufactured and more on the depth of the fabricating process. Evaluate the services and products you provide and look for ways to expand on them. If you manufacture steel tubing, consider whether or not you can also provide them with the fasteners your purchasers will need to join them together. This will enable you to secure more expansive contracts within already existing business relationships.
Tip #10: Add Value Step-by-Step
CNC machining is of course a multi-stage process and because of that, thee is the potential for adding value work to each stage. Your ability to grow or expand your business weighs heavily on how many value-added steps you are able to perform. Evaluate your strengths and take advantage of any opportunities you see to insert value-adding production to as many stages as possible. When coupled with gradual service integration and streamlining, this approach can be a valuable way to expand your company.
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