Does your company invest time and money in R&D? If not, you could be on the path to extinction. You may have a best-selling product right now that is bringing in healthy revenues, but nothing lasts forever. It is the companies who continually re-invent themselves and their products that buy longevity in the process.
Nothing in this world has immortality. The latest technology or discovery today will be old news in 10 years (or less). The only sure path to a lasting, healthy bottom line is to constantly be reviewing your products and/or services, research the changes and trends in your industry, and focus on new ways to improve what you are doing now. Never get contented with the status quo. Your products and/or services should show a marked progression over time. If you compare what you were making 10 years ago to your products today and don’t see a difference, you are on the decline and need to make changes immediately. Stay out in front or at least keep up with the pack, or you will realize one day that you have been left behind.
The author, Marge Bonura, is the Director of Sales & Marketing for New England Machinery, Inc. (NEM). NEM is a leading packaging machinery manufacturer of bottle unscramblers, cappers, orienters, retorquers, lidders, pluggers, pump sorter/placers, scoop feeders, hopper elevators and much more. The company has been in business since 1974 selling to the food, beverage, pharmaceutical, personal care, chemical, household products, automotive and other industries. For more information on NEM, visit their website at www.neminc.com.
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