The panel consisted of Scott Telfer, Pongrass Communications Group general manager, and Bruce Sinnott, IPMG marketing and digital services general manager, who both gave insight from their own personal experiences on how to make the right capital acquisition decisions. Andy McCourt, Cyrachrome marketing director, was the third guest speaker, and discussed ideal ways to secure ongoing success through profitable partnerships.
According to Telfer, making the right equipment purchases is not necessarily an easy undertaking. He recommends asking oneself whether a certain piece of equipment is really needed and whether the company and its clients are ready for the equipment. Performing a detailed financial analysis of the purchase, including how long will it take to make money and what additional expenses will be incurred aside for the initial capital outlay is also key.
Sinnott took the opportunity to reminisce over the various equipment purchases he has made while in the industry and the various lessons he has learned each time. He urged listeners to not be afraid to take risks, but take the time also to research and market the product once the purchase is made.
“You can get the purchase wrong, but if you implement it properly, you can still make it work well for you,” says Sinnott.
McCourt then took the podium, urging suppliers and customers to lay down their weapons and start working together to form lasting and prosperous business relationships. He believes that both parties have something to offer one another, and that at the end of the day, it is the relationship that counts, not just the deal.
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