Good Questions to Ask Yourself

It is always good, as a small business owner, to review your goals and plans - especially when buying new equipment. Without a solid business plan, many businesses could be wasteful in their investments. Ask yourself these questions while looking into your new equipment acquisition:

• Why is the equipment needed?
• What benefits will it bring to your business?
• What are the actual savings of the equipment if it’s goal is to reduce operating costs?
• Is the new equipment to replace outdated equipment or to help you enter a new market?
• If it is to help you enter a new market, how do you plan to penetrate it?

Always thinking and planning ahead will help your business to be a step above the rest.

Brad Harmon is the President at a leading financing company, First Star Capital (http://www.firststarcapital.com/ ). Brad is a frequent contributor to online publications and newsletters, and is the author of this blog on commercial financing topics.