Machine Shop Growth Episode #10: Is it time to buy a new machine?
Jul 1, 2025
Greg Knox from Knox Manufacturing Solutions shares his extensive expertise in the machinery industry. He addresses the crucial timing for investments in new equipment—before securing orders or after. The discussion highlights the differences between conservative and entrepreneurial approaches to machinery buying. Greg emphasizes strategic investments for enhanced capabilities, the significance of automation, and the importance of people and culture in driving growth. Insightful real-world examples reveal how to break through plateaus and improve margins.
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Capacity vs Capability Buyers
- There are two types of buyers: conservative ones buy for capacity, entrepreneurial ones buy for capability. - Buying for capability involves envisioning goals and working backward to choose equipment that adds unique value to the shop.
Test New Capabilities Before Buying
- Test new capabilities by first outsourcing or staging smaller jobs before investing in expensive machines. - This approach mitigates risk while building the ROI case for new equipment.
Customers Don't Know What They Need
- Most customers and shops don't know what they really need, so it's the vendor's job to educate and stretch them. - Investing in machines is about strategy and fitting into a growth vision, not just immediate job needs.
