The best questions to help with investment decisions
Jun 16, 2019
By Nikita Tomlinson, Sudburys Business Growth Manager
Economists have been telling us for some time that New Zealand businesses have preferred hiring to investing in recent years.
There are differing viewpoints on which is the ‘right’ way – more jobs to keep people employed vs investing in technology, machinery or infrastructure to become more efficient. I am not intending to join in this debate!
What I do want to do though, is help you make these decisions.
Opportunity vs Efficiency vs Status Quo
There are typically two main instances where you might want to make an investment in your business – either to take advantage of an opportunity OR to improve efficiency. There is of course always a third option too - stay still and maintain the status quo.
Make sure you’re asking the right questions when it comes to assessing the benefits and costs relating to any opportunity vs efficiency decision.
Asking these kind of questions, and most importantly, finding the right answers will put you in a solid position for sound decision making.Asking these kind of questions, and most importantly, finding the right answers will put you in a solid position for sound decision making.
In my next article we’ll look at option number three! When is it the right time to hold your course and maintain the status quo, and how you can best assess your risk factors.
If you’re making decisions around opportunity vs efficiency at the moment and need help asking the right questions, I’d love to help. Contact me to book a free, no obligation conversation!