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Posts Tagged ‘costs’

Once upon a time, all any organisation had to answer when buying a printer were three simple questions:

  • Inkjet or laser?
  • Mono or colour?
  • Multifunction or standalone?

Advances in the technology and falling prices have led to new questions and the evolution of the trio above.

Inkjet or laser?
Either. The boundaries between printer types are diminishing all the time. Misconceptions such as “Laser printers are cheaper per page over time” have long been discarded. Manufacturers are investing huge sums to ensure tomorrow’s laser is yesterday’s inkjet, and vice versa.

Mono or colour?
Go for colour. Yes most prints will be black, but ink and toner now contain chemicals to counteract drying out, so even extended periods of not printing in colour are fine. Make sure you get separate colour cartridge slots, not tri-colour cartridges. This way you’ll only replace what you use, minimising waste and saving on cost.

Multifunction or standalone?
Multifunction printers (MFPs) now match the performance of standalone printers, saving on space, wiring and plug sockets. Simply decide what functions you need before researching your options. Remember that most MFPs can’t use more than one function simultaneously; a single machine may be overwhelmed if you have large copying, faxing and printing demands.

Costs
Find a balance between available funds and long-term running costs. Cheaper printers will save on start-up costs, but will require more expensive cartridges, meaning higher costs per page in future. Check availability of compatible cartridges (ie ones not made by the printer manufacturer). The existence of these consumables indicates a popular printer and long-term demand – and will also help save on printing costs.

Suppliers
If you buy a printer from a high street store, be aware that when the next upgrade arrives from the manufacturer, not only will your model disappear from the shelves, but the cartridges will too. Check that you can buy consumables online for your machine as well.

Networking
Ethernet ports are a given and WiFi capability can up the price of a printer significantly, but there are benefits. It saves on cabling and enables you to position the printer where it’s convenient, enabling flexibility in office and hardware layouts when your business begins to grow.

Ease of installation
Check for user reviews online. Is it a simple plug-and-print model? Avoid printers with unnecessary installation software on CD. This is especially relevant when selecting an MFP, because some not only require you to set up a user profile for each person/PC before you can print, but some demand a separate installation for each profile per printer function.

Usability
Make sure your printer has a clear display for error and performance reporting. This is crucial when purchasing an MPF, because more than one function can go wrong.

Look for a front USB port, because this enables you to plug in memory sticks to print documents without the need of a computer.

Estimate your usage needs – is a 200-sheet tray big enough? To avoid the hassle of replenishing paper, check higher capacity trays or the availability of add-on storage trays.

Different media
If you want to produce a range of printed media (eg cards, labels, various paper weights), check the printer has trays for separate media feeds and doesn’t rely on a single-sheet manual feed, which can be very time-consuming.

Matt Bird, StinkyInk

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1 Plan your marketing
Far too often, new businesses take a scattergun approach to marketing. They spend a huge amount of time and focus on marketing – which is correct – but there is no cohesive strategy, plan or thinking. So what happens is, 80 per cent of their marketing efforts results in little or no return.

If you have done your homework, you will be clear about how you help your target market with their ‘pain’, know where your target market hang out and how best to get your message to them. Use this knowledge to plan your marketing, so you focus your marketing on your target market, in a place where they will see it – and in a way that will encourage them to take action.

If you believe that word-of-mouth is going to be all the marketing you need, think again. Word-of-mouth works very well when you are an established business with a good name. Until you are an established business, word-of-mouth, in isolation, will not be an efficient marketing strategy.
Think very carefully about taking an enhanced listing in a physical or internet directory. When was the last time you looked in one of these for a tradesperson or supplier?

2 Know your costs
I’m going to be blunt. If you don’t know the cost of running your business, it normally means you are running your business as a hobby. Poor financial management of a new business is one of the main reasons for a new business to fail in its first year. Poor cashflow is a major factor in this. If you sell to businesses, see how short you can make your payment terms. For example, can you ask for some cash up front?

3 Look for recurring business opportunities
At the start of your business life, most of your business will have to be won from new clients. Winning business from existing clients is estimated to be between seven and 14 times easier than winning business from a new client. Aim to target new business from clients or customers that are likely to result in recurring business.

4 Be flexible
No one can predict exactly how your new business is going to perform. In the first 12 months of trading, you will probably need to tweak part of your business and marketing strategy. If you keep yourself open to opportunities and possibilities, you are more likely to be able to change strategy before it costs you time and money.

5 Work to your personal talents and strengths
In the early days as a one-man-band, you are going to have to be all things to all people. There are always going to be tasks that don’t fit your personal preferences. For me, this was bookkeeping. Be honest with yourself and outsource or delegate any tasks that can be done by someone else, without materially affecting the running of the business.

6 Set and write down business goals
Only about 3 per cent of adults have clear, written goals. These people accomplish five to ten times as much as people of equal ability and standing, but who, have never taken the time to write out exactly what they want to achieve. It’s the same with new businesses. Those businesses that remain focused on their goals are more likely to achieve greater things. In the early days, you are on a steep learning curve, so you will need to revisit these business goals every three months.

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