Business Education

Pros and Cons of Buying New vs Refurbished Office Equipment

Office equipment can be quite expensive. But, it’s necessary. So, there’s not a lot of choice precisely because it is an absolute must. Although, there are a couple of options. It’s entirely possible to procure office equipment in two different ways. Small business owners can buy new or purchase refurbished. However, this, of course, raises a number of questions. So, let’s take a look at all the benefits and downsides of purchasing new versus buying refurbished.

Pros of Buying New Office Equipment

There are many pros and cons to consider when deciding whether to buy new office equipment for your small business. Here are some of the key factors to think about before you commit to obtaining new equipment:

Improved productivity and efficiency. With new office equipment, your employees can work faster and more efficiently, which can lead to increased productivity and profits. For example, a new computer system with faster processors and more memory can help your employees complete tasks more quickly.
Reduced costs. New office equipment can also sometimes help you reduce your costs in the long run. For example, a new energy-efficient printer can save you money on your energy bills.
Improved customer service. Yet another benefit is new office equipment can help you provide better customer service to your clients. For example, a new phone system with call forwarding and voicemail can help you keep your business running smoothly even when you’re not in the office.
Enhanced security. Additionally, new office equipment can help you protect your business from security threats. For example, a new firewall can help you protect your computer systems from hackers.
Improved morale. New office equipment can help boost morale among your employees, which can lead to increased productivity and loyalty. For example, new office furniture can make your employees feel more comfortable and productive.

As you can see, there are some very convincing reasons to buy new. However, just because it’s new does not mean that it’s the right choice for your organization. Just like anything else, there are also some downsides you should be aware of. Here are the disadvantages of buying new.

Cons of Purchasing New Office Equipment

While these are some compelling reasons to buy new, this doesn’t mean that it won’t come with a few disadvantages, for example:

Initial investment. Buying new office equipment can be a significant upfront investment. You’ll need to factor in the cost of the equipment itself, as well as any installation or maintenance costs.
Depreciation. The value of new office equipment will depreciate over time, which means you’ll eventually need to replace it.
Obsolescence. New office equipment can quickly become obsolete as new technologies emerge. This means you may need to upgrade your equipment more often than you’d like.
Maintenance. Of course, new office equipment will require regular maintenance to keep it running properly. This can add to the overall cost of ownership.
Training. Your employees may need training on how to use new office equipment. This can be a time-consuming and costly process.

Ultimately, the decision of whether to buy new office equipment is a complex one that depends on your specific needs and budget. Weigh the pros and cons carefully before making a decision.

Advantages of Buying Refurbished Office Equipment

Now, we’ll take a look at the benefits of purchasing refurbished office equipment. Here are the biggest upsides to going this route instead of buying new:

Cost savings. Refurbished office equipment is often much cheaper than new equipment. This can be significant savings for small businesses that are on a tight budget.
Environmental benefits. Buying refurbished office equipment helps to reduce waste and conserve resources. This is a positive environmental impact that can help you feel good about your business practices.
Similar quality to new equipment. Refurbished office equipment is often just as good as new equipment. It has been thoroughly tested and repaired, and it comes with a warranty.
Flexibility. You may be able to find refurbished office equipment that is not available new. This can give you more options when choosing the right equipment for your business.

Disadvantages of Procuring Refurbished Office Equipment

Obviously, there are also some downsides to consider when it comes to refurbished equipment. Here are the things you might come across if you choose to buy refurbished rather than new equipment:

Limited warranty. Refurbished office equipment typically comes with a shorter warranty than new equipment. This is something to keep in mind if you are concerned about the potential for repairs or replacements.
Possible cosmetic issues. Unfortunately, refurbished office equipment may have some cosmetic issues, such as scratches or dents. This is usually not a major concern, but it is something to be aware of.
Compatibility issues. If you are buying refurbished office equipment from a third-party seller, there is a risk that it may not be compatible with your other equipment. This is why it is important to do your research and buy from a reputable seller.

Ultimately, the decision of whether to buy refurbished office equipment is a complex one that depends on your specific needs and budget. Weigh the pros and cons carefully before making a decision.

What other pros and cons would you add to these when it comes to buying new or refurbished office equipment? Please take a moment to share your own thoughts and experiences so other people can benefit from your perspective!

Interested in learning more about business? Then just visit Waters Business Consulting Group to learn more about us and the services we offer.

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Stop and Read This Right Now and Then, Quit Procrastinating

April 18, 2019 No Comments

It’s nearing the end of another deadline. And, you’re too far behind to finish comfortably. The rush is on and time isn’t on your side. If only you’d started earlier. You can’t afford to spend time reflecting. But, you can’t help but feel a strong sense of regret. How did this happen again? You’ve fallen victim to your own procrastination and you vow not to put yourself in this position ever again. Top Reasons We Procrastinate Everyone knows procrastination leads to trouble. So, why do we do it in the first place? What causes people, even the best of us, to procrastinate? Sometimes, it’s because we feel events are out of control and it leads to paralysis. Or, it could be due to a lack of energy. On a neurological level, procrastination is not the slightest bit logical — it’s the result of the emotional part of your brain, your limbic system, strong-arming the reasonable, rational part of your brain, your prefrontal cortex. The logical part of your brain surrenders the moment you choose Facebook over work, or decide to binge another episode of House of Cards when you get home. But there’s a way you can give the logical side of your brain the upper hand. —Harvard Business Review Of course, perhaps the single biggest cause of procrastination are distractions. Having attention taken away from the task at-hand can really undermine productivity. Other times, it’s just feelings of sadness or depression. Most Effective Ways to Deal with Procrastination If it’s so common, just how does one beat procrastination? Fortunately, there are a few ways to deal with procrastination. First, recognize when you’re procrastinating to start. Then, do the following: Commit to just one task. If you feel the urge to procrastinate, instead of doing nothing, do something, but something meaningful. Commit to just one task, even a small one that will give you a real sense of satisfaction and accomplishment. Give yourself a reward. Another way to overcome procrastination is to promise yourself a reward. If you tackle the task you’re tempted to put off, you’ll give yourself an enjoyable reward. You’ll be amazed at how you’re able to buckle down and focus. Act on things as they happen. Okay, so you might feel a bit intimidated by a particular type of task. That’s okay, deal with it by taking things in order, as they come. This way, you’ll build momentum. And, if it’s the first item on your plate, take comfort in the fact once it’s done, it’s out-of-the-way (at least, for the day). Minimize distractions around you. Alright, this is obvious advice. But, it definitely warrants inclusion. Get rid of any (or as many) distractions as possible to help beat procrastination. What other suggestions do you have to deal with procrastination? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

The Hidden Costs of Retaining Bad Employees—and How Small Business Owners Can Fix It

February 19, 2026 No Comments

Last week, we discussed how to deal with a backstabbing employee. But what happens when business owners don’t fire them, even though they continue to hurt their peers? Well, as you probably imagine, the results aren’t pleasant (and more than likely, horrible).

Tips for Choosing a Brand Name

September 20, 2018 No Comments

Okay, so you have a great idea and want to launch a brand. You’ve got plenty of inspiration in every other aspect. But, when it comes to giving it a brand name, the well is just plain dry. So, you’re looking for various ideas to give you some direction. Well, one thing is for sure, it’s got to resonate with people. Or, does it? Now that’s a scary thought. However, it’s a necessary thought-experiment. Differences between a Company Name and a Brand Name Let’s first look at what we’re actually talking about. If you’re going into a trade or profession, it’s customary and wise to go with tradition. In other words, if you’re going to open a specialty bakery, it’s perfectly okay to go with something like “Little Miss Muffin.” People will get it. Although, you might toy with the prospect of giving it a more eccentric name. Just be aware, doing so is a big gamble. Throughout the entire life cycle of your business one thing is constant – your business name. And this means getting it right, the first time. Why? Consider this – assuming you optimize your Web site, post your business on local online listings, develop a social media strategy, and deliver a great service, your business name and all that it represents will go viral (and hopefully in a good way). —Small Business Trends That’s really the difference between a company name and a brand name. Think about it this way. If you were approached in 2005 and asked “What is Facebook?” Or, “What is Twitter?” Could you answer? Nope. The reason why is obvious, neither existed back then. But today, they are household names. Even though their names do not describe what they are or what they offer. Tips for Choosing a Brand Name Let’s put it another way, when you choose a brand name, you’re giving your entity a brand or an identity. Now, it makes sense to name it after yourself or to take off from an existing brand. But, doing so creates some problems. So, here are some helpful tips on how to choose a brand name: Conduct several web searches. Dropbox. Twitch. YouTube. Though familiar to nearly everyone now, at one time, these were unknowns. A good place to start is simply by searching the web to learn if there’s already a spot-on or similarly named company out there. Compare and contrast what’s out there. Speaking of out there, once you begin to identify organizations, take the time to compare and contrast what’s similar and dissimilar. It’s definitely worthwhile because you’ll learn important lessons. Find something that will set your brand apart. Of course, you’ve got to pick a brand name that will set you apart from the competition. But, don’t go too far out or you might confound anyone who encounters it. Don’t rely on incumbent brands because it’s a mistake. One the other side of the coin, some organizations take an approach of building off another entity. For instance, publications like “Android Police and Mac Rumors.” While these make sense for the present, they could well look outdated in the future. After all, Google might rebrand its mobile platform or Apple could very well come out with a new line of computers. What other suggestions do you have for choosing a brand name? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.