When is the right time to invest in automation? The answer is now and here’s why.
“Make hay while the sun shines” is an enduring proverb in the English language, known to be used since the mid 1500s and similar to sentiments in the bible, the phrase is so powerful because it’s as true today, as it was back then. Of course, automation has made ‘making hay’ so much swifter, so if the storm clouds start brewing on the horizon you can take action.
What storm?
I can remember a few economic downturns and recessions over the years and they all had one thing in common. When they hit, we hadn’t realised that times were so good. Looking out to the horizon today we can certainly see some heavy clouds building. The Chinese, European and US home economies are all slowing down. According to CBS Business news, US investors are reducing their interests in government bonds in favour of shorter term investments. Harvard business review and others are beginning to talk about a small economic downturn in 2020.
So stop spending on Automation right? Wrong!
In any economic down turn, there are winners and losers, but those that win, make a habit of it. According to the Harvard Business Review, companies that focus on cost cutting without thinking about growth will not outperform the market.
How will your company not only weather any impending storm, but continue to grow?
Taking a long term view by investing now in automation, will inevitably make your company more lean and competitive. When times are tough, it is these companies that continue to win business while the weak and inefficient lose.
Our top tips for being prepared, whatever the economic outlook
“Before everything else, getting ready is the secret of success.” Henry Ford
Invest in growth. A downturn may make short term growth difficult but you can still protect your long term goals.
“Some habits of ineffectiveness are rooted in our social conditioning toward quick-fix, short-term thinking.” Stephen Covey
Focus on your technological competitiveness. More productivity and efficiency, greater resilience and ability to respond to opportunities that arise.
“The best way to predict the future is to create it.” Peter Drucker
Don’t lose sight of your long-term goals. A downturn is an opportunity to help you win the business lost by the weak and inefficient. These are the cheapest times to grow by acquisition too. Get prepared to take advantage.
“Someone is sitting in the shade today because someone planted a tree a long time ago.” Warren Buffett
If you’re unsure of where or how to automate, or how robotics can help in your processes, call today we’ll help you find the right places to get started.
You can read the Harvard Business Review article here:-
https://hbr.org/2019/04/companies-need-to-prepare-for-the-next-economic-downturn
