When the economy hums along and all the presses are busy, it’s easy to think everything is fine. But most printing companies never find out how good they really are until they’re already in the middle of a crisis, and by then, you’re not stress testing … you’re stress living.
If you follow that line of thinking, why not run an intentional, structured financial and operational stress test. Think of it like a fire drill for your business. It can be uncomfortable, a bit messy, but really helpful if and when the alarm sounds. Another way is to view this is like an intersquad scrimmage, or a pre-season game. You’re looking for those hidden gems and gaps that you need to fill before it’s game time. You get the message.
A stress test isn’t just about the balance sheet either. Sure, you should model what happens if revenue drops 20%, if your top three customers disappear or your most productive press goes up in flames–yes, that happened. But you also have to ask about:
- People: What happens if you lose two key team members at the same time?
- Culture: When things get tight, do your managers collaborate to solve issues or retreat into their own corners?
- Customers: How many missed delivery dates can you recover from before your best clients start placing their work elsewhere?
- Management Style: When priorities collide (and they will), do decisions get made fast or does everyone wait for consensus while the clock ticks?
Read the rest of this feature on Printing Impressions.
