As a technology business we need to keep innovating 👩🏼🔬, test new products, build new solutions. Without it we stand still and die a slow/fast death.
Innovation needs money💰. Lots of it sometimes…certainly when operating at the higher end of the market.
So we are in a constant balancing act. ⚖️
A few things we have done over the years to get the balance right (and there is more):
- be first to market with true innovations – early adopters typically provide initial ROI
- partner up with manufacturers and offer structured feedback on beta-versions (vs always buying every new product that comes out)
- we have created an Outlet on our PartnerZone to give super deals on (nearly) new equipment to our clients
- work closely with our best integration partners to co-invest & co-test together
- when building new solutions act as if it is going to a client. Often the result will be an innovation investment you can sell on later on. No cutting corners – go for perfection.
Combining innovation + positive cash flow is more of an attitude 💪🏻 and culture 🤝 than a plan. But it is absolutely essential to be successful as a small company.
PS: quick reminder of why cash is king (beyond what you already knew…)