Is it better to buy or lease computer equipment? One of the big questions facing business owners is whether it makes more sense to buy or lease their computer equipment. Below are three questions to ask yourself as you think through this important decision.
Lease Computer Equipment
1) How Fast Is Our Business Growing? If you’re experiencing growth at a very fast pace, then leasing may make more sense. Simply, because doing so will allow you to tie up less of your capital so you can keep a positive cash flow. Growth brings enough stress in and of itself. Additionally, growth forecasting is more art than science and many companies find themselves scrabbling either to ratchet workforces down or up to meet demands. Leasing allows you to better meet these sudden changes.
2) Does Technology Provide the Backbone Of Our Business? If your business is heavily reliant on technology, then a lease could be a key to your survival. With the speed of innovation in computer manufacturing, having old or obsolete computer equipment may end up being an Achilles heel. Whether it’s servers, VOIP technology, dialers and CRM management tools, towers, laptops or software and peripherals, if technology drives your business, you can’t afford to fall behind in this critical area. Not only could it cost you business, it could end up hampering your future growth and market share.
3) Do Time and Operational Efficiencies Equate To Money In Our Business? People often talk about time being money. Though this is true, the important thing for you to consider is: How much money do time savings represent to our business? If your key employees can increase their work output by 30%-50% simply by a technology upgrade, would it justify the expense? Go through all the areas of your business from marketing, to sales, to customer service and realistically estimate how new computer equipment could increase work output, customer satisfaction and sales profit. Let the numbers do the talking and you won’t go wrong.
Leasing computer equipment is a serious business decision that should not be taken lightly. It is not about having the latest bells and whistles or keeping up appearances. Rather, it is about making an investment that has the potential of dramatically impacting your bottom line.