Reinvestment in small engineering business 1

[GC_Hopi]

What are some typical ways a small (4 person) engineering firm would reinvest in the business?

 

[Lomarandil]

Marketing and networking efforts
Professional training or conferences for the staff
Improving office facilities, computer hardware, etc
Spending some budget (hours) on process development, sharpening the saw.

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just call me Lo.

 

[CWB1]

Reinvesting typically implies growth, so I'd say its some combination of improving the efficiency of current staff and/or bringing on more staff, and bringing on more customers.

 

[TheTick]

Whatever you do, don't reward your employees for the hard work that made you profitable enough to have funds to reinvest.

 

[fel3]

TheTick....

Switching from regular Oreos to Double Stuff Oreos in the break room is usually reward enough.

Fred

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"Is it the only lesson of history that mankind is unteachable?"
--Winston S. Churchill

 

[msquared48]

What’s a “Break Room”?

Do you test products there? Break dance?

I agree with Tick. Best investment is in your employees - RETENTION to avoid RETRAINING costs. Long term investment...

Mike McCann, PE, SE (WA, HI)

 

[glass99]

Some small things:
- an online timesheet service
- a nicer office including furniture or a reception area
- out of town conferences for staff
- upgraded analysis software
- a nice holiday party
- more references, maybe in areas which are adjacent to your current area
- learn about new things, like CLT or kinetic structures
- an online file management system like egnyte etc.
- send out some marketing materials like postcards