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- MemberAugust 26, 2020 at 3:12 pm
Karen, I followed the sales numbers. I started in a spare bedroom at home with a 10 year old summa. I concentrated on selling what the Summa could make,I didnt have any other choice.
As volumes grew I bought another Summa, moved into a 1200 sq ft unit, took on staff etc etc.
Invested all my profit back into my firm. I wanted a printer, so I waited until I had enough money from cutting vinyl to buy one for cash….. then got one on finance. The profits from my vinyl cutters easily paid the finance and I had the cash still to fund sales growth. If I didnt have enough free cash from cutting vinyl to easily cover the finance costs I would still be cutting vinyl. If the printer hadnt worked out I wouldnt have lost the farm the way I did it, I suppose Ive been lucky, helped by working 14 hour days 7 days a week.
I suppose the long and short of it is, invest where the money (sales numbers) tell you, and speculate with the profits your existing set up makes.