What can 3D printing do for your business?

business insurance 3d print

Chances are, you've heard plenty of chatter about 3D printing over the last 12 months or so. Depending on who you ask, it is either the future of manufacturing, a nerdy pastime for gadget geeks and gamers or a passing fad that will be gone the way of the mini-disc by this time next year. Despite what the cynics might say, the technology and business headlines in early 2014 all indicate that 3D printing is very much here to stay, with numerous large, multinational companies and major organisations firmly getting behind the technology.

Dell has just signed a deal to sell MakerBot 3D printing products through its online store, NASA is convinced 3D printers will play a huge part in getting astronauts to Mars and Credit Suisse's Jonathan Shaffer has estimated that the global worth of the 3D print industry in 2016 will reach $800 million.

The big question for you in all of this is: how might this impact my business?

If you do not work in a company that sells a tangible product of any kind, then the likely answer is ‘not at all.' If, however, you work in any industry that relies upon manufacturing then the almost certain answer is ‘very heavily and very soon.'

3D printing is particularly useful in the prototyping stage of product development. From the earliest moments of designing an object to the production of the final prototype, 3D printing can make the process more cost effective, quicker and, most importantly, more effective. Small details can be changed on the original CAD, and then printed without compromising the prototype's structure.

So, if you work with prototypes, then 3D printing will be essential to your future. Then there is the question of 3D printing for small parts. While mass producing machinery or products through 3D printing is not cost effective enough for widespread implementation, the printing of individual components for machinery is being adopted more and more across the globe. For example, an RAF jet that recently took off from a UK airstrip included 3D printed parts. Future plans are to house 3D print devices at bases across the world, meaning airplanes can be repaired and maintained using parts printed on-site, massively speeding up the repair process.

The same principle could be used on a much smaller scale for engineers, plumbers or maintenance workers. Rather than having to check they have all the spare parts for a job before arriving at a job-site, they could 3D print them after examining the broken device, once again saving time and cost.

For these and more reasons, 3D printing is a technology to which it is well worth paying attention.

What can Machiavelli tell you about business?

Nicolaus Machiavelli

The Prince, Nicolo Machiavelli's 1513 treatise on history and political theory, was a landmark volume that provokes controversy, debate and fierce argument to this day. Characterised by the famous quote, ‘The end justifies the means', it called upon political leaders to not only be intelligent and diplomatic but also to be calculating and cunning, so long as the final results were to the betterment of society in general.

Though chiefly written about politics, The Prince is a must read for anybody looking to get ahead in modern business. Within its pages, you'll find a wealth of deep thought and wise advice on long term economic, financial and business strategy that will help you stay ahead of the competition.

As the princess cannot help being hated by someone, they ought to endeavour with the utmost diligence to avoid the hatred of powerful people.

Nobody succeeds in business without making a couple of enemies along the way. Yet, similarly, nobody succeeds in business without making even more friends. In particular, powerful friends are essential to securing your own power – it doesn't matter if you are the manager in a franchise of a fast food restaurant or the CEO of a multinational corporation. If you want to get and stay in an advanced position, ensure you make strong connections with the top echelon in your industry.

The first method for estimating the intelligence of a ruler is to look at the men he has around him.

While we all like to feel that we are the smartest person in the room, if you deliberately fill your business with people you know to be inferior to yourself, it will show in your results. Do not be afraid of people with more experience, more intelligence or more capabilities than you. Welcome the input of those whose input is worth having and reject those who are not up to scratch.

"Whosoever desires constant success must change his conduct with the times."

There's not a business person alive who can afford to stand still. Pay attention to changes, not just in your industry, but also in society at large. No matter how disconnected they might seem, everything is an influence on your company.

What does a new year mean for your business?

Plan Action Develop

The way you start the year has a huge impact on how much success it offers to your business. Obviously, we all want to do better this year than we did last, regardless of what kind of company you run. So, how do you make sure that will happen? Here are our six key tips to kicking off the next twelve months the right way.

Plan

In particular, small business owners often overlook this key step to success, assuming that managing the day-to-day operation of the company is more crucial than the overall business plan. This is a great way to work your fingers to the bone but run out of steam three months into the year. Instead, set clear goals for the year and keep them at the front of your mind as the days tick by.

Action

Don't just let those annual goals sit on a file on your computer. Keep them close and check on your progress every week. Set real deadlines for completion of each goal and be sure you hit the target on time.

Develop

Even successful companies need to develop and change as time goes by. The start of a new year is a great time to think about the things you can do to allow this development to take place as smoothly as possible. One great place to start is your company's website. Take a look at it and ask yourself how well it is selling your business to your target market.

Socialise

Does your business use social media? If not, it might be that you think it doesn't apply to your industry or the market into which you are hoping to tap. In 99% of cases, this would be a wrong assumption. The vast, vast majority of companies could improve their standing with intelligent social media. If you are already operating a social media arm, how is it helping your company? Perhaps you should consider changing your approach if you aren't seeing the dividends being paid.

Upgrade

Take a look at all the equipment you use on a day to day basis. How up to date is it? Could you gain from upgrading to more modern hardware and software? Use this time to look into what improvements can be made.

What kind of startup do you want to run?

idea business startup

Starting a new business is both one of the most exciting and most terrifying things you will ever do. In order to put the entire enterprise into perspective and thus make it a somewhat more manageable and practical process, you should ask yourself a key question: what start am I?

This big question is, really, a series of smaller questions and answering them with complete honesty will help you focus upon making the right decisions for your company.

What is your role in the startup?

The overarching question for every new business person is what exactly their purpose is. Simple and straightforward you might think, but in truth a lot of people struggle to give a concise response. The first thing to do is be clear about where the product or service is coming from and who is responsible for what parts of it.

It could either be a product brought from your own creative skills, a product that is the joint creative output of you and another person or a product that is the somebody else's creative output but which you are selling or marketing for them.

This classification will help you understand what you should be contributing and how much power you should have in each decision being made.

How separate should your business and personal assets be?

When you first go into business for yourself, one of the biggest dangers is that your personal and business finances and assets will begin to bleed into one another in a way that is both confusing and dangerous. Make a decision right from the start: are you prepared to put everything you have behind the venture? If not, then you have to either make a percentage of your personal wealth that you are prepared to let bleed into the business or make a firm commitment that none of your own assets will be on the table.

None of these are right or wrong – it is totally up to your own personal levels of comfort and ambition. Once a decision is made, however, stick to it no matter what happens.

Is your eye on going public?

Here is another seemingly simple question that an awful lot of business people do not answer straight off the bat. It might be the case that you want to go public as soon as the chance presents itself or that you never want to hand over your business' independence. Or, it might be that you have reservations about going public and need more information about how wise a choice it would be.

Whatever your position is, be sure of it before you launch the company and it will help keep your focused on doing the right thing.