Bad habits

[bobbin]

I have recently developed a bad habit of not buying tools.  When I had my "straight job" (and a predictable paycheck) I always bought tools.  But, as you know, you need things for your own business and when the money coming in isn't as "predictable" as the pay from a straight job you tend to hesitate more.  I finally pulled the trigger on a servo motor and new bench top for my overlock machine, and two punches and a nice mallet to make grommetting easier.  Do you find that you've fallen into the "afraid to spend money for capital investment" rut, too?  It's weird, I never used to be like this, lol. 

[byhammerandhand]

Nope, I figure if a tool or purchase can make me more efficient, it will make me money in the long run.


Interesting story I heard a while ago.   A company supplied tools to their staff and had a problem with loss, abuse, theft, misplacement, left on the job, etc.  They decided they'd give each artisan (gender-neutral term for craftsman, Karen), a monthly tool allowance, and they had to buy their own tools and keep them in shape.   Big tools, it make take a couple of months' allowance to buy or replace.  Loss, damage, and abuse almost instantly stopped and their net tool expense reduced.

[bobbin]

Hammer., I really admire you!  I am so freaked out by my limited "means" the very thought of buying anything scares the livin' daylights out of me. It doesn't matter that I've bankrolled expenses, the point is I can't quite get past immediate revenue.  I'm so afraid I won't be able to meet the NEXT wave of expenses.  I've done the arithmetic.  I've planned.  But I'm still freaked out.  Perhaps I ought to curse my Depression era parents?  (lol)

[sofadoc]

The kids are grown. The mortgages are paid. I find that I now have the discretionary income for all those tools, gadgets, and oddball supplies that I used to only drool over in a catalog.

I remember Kody talking recently about how him and his co-workers had to wait 3 weeks for their boss to order a case of 3/8" staples. Heck, I don't have any co-workers, and I get nervous if I even get down to my last full case.

But I certainly remember the days when I had to wear tools down to a nub before replacing. And making do with inferior equipment because just about everything seemed like a luxury item.

I used to break my back schlepping heavy furniture just to avoid paying a helper 10 bucks.

We upholsterers are a frugal bunch. It's in our very DNA.   

[baileyuph]

All is understandable, over time I have concluded that, for me the direction to go in is buy any tool at a high quality ...........that will enhance through put in the shop.  Definitely, it will cost more to not buy the tools, has been the education.  It is a given the work flows in at a rate that is already more than will ever get done if the proactive approach isn't taken.

In addition to adding newer better improved equipment to the shop, I have become very conscious of time required to do jobs and equally there is focus on how to do the the same job better in less time.

For example, there is a certain project that I frequently get from a large corporate customer which 12 hours was awarded to do the job.  I knew how to do the job but after giving thought to how I was doing it and how could the time to do work could be reduced, within two months that example project is being done now in 5 1/2 hours.  I still get paid for 12 hours.  That is a substantial pay increase, the most casual observer would pick up on.  One of the things I bought is a higher level of battery powered hand equipment and more of them.  Yes, I now have three highest quality battery powered drills, when I started doing these projects, had one.  Analysis of the work routine concluded that I was changing drill bit and screw equipment sizes a good number of times during project procedure.  This direction alone reduced wasted time changing devices in the drills.  That is only one change I made, sure it took a few bucks, these professional pieces of gear were around $250 each.  But, believe me, I paid for them after two projects.  It would still be costing me much had I not bought the equipment.  I could go on and on to cover the actions taken but the point is clear.  If you have the volume and get a fair price for the work, then clearly, it cost not to endeavor in this direction.  Physical benefits are amazing, I can now do more than two projecs in the initial time and not tire nearly as much.

When I started out, this was not the case, why now, several reasons and I have given insight.

BTW, I see potential to reduce this 12 hour project down to about 4 1/2 or a little under 5 hours.  Hours saved - is money - for there is plenty of work waiting.  It all started by applying the mind in that direction.  Personally, it sure makes business more fun, I can't get enough of it!

Loving what I do.

Doyle

[kodydog]

We upholsterers are a frugal bunch. It's in our very DNA.   

10-4, but being frugal will not make you wealthy. I'm guessing once the kids were out of the house and you started spending more freely your income went up.

Bobbin, I'm not saying to bust the bank but invest in your business wisely. Make a list of those must have tools and buy them as you can afford them. Revisit this list often and add or delete tools as needed. Set up a budget and buy those tools one at a time. This will make it much less "scary". Your looking at the whole picture but if you approach it a little at a time it becomes less daunting.

What is your next "most important" tool? There is a good chance somebody on this page has one they're trying to unload and at a good price.

[bobbin]

My next "tool" is probably going to be an industrial buttonholer.  When I ordered the servo and new bench top for my overlock machine I asked about a couple of models that could be purchased reasonably on the used market.  I hope to be able to buy one for about 1K; they're rather specialized and don't generally show up on places like Craigslist but I look regularly because you never know!

(making 40 buttonholes on the dining chair slips. last week took a pretty long time and and was tough sledding for my 1982 Kenmore zig-zag.  Poor thing)

[Rich]

This is a question I've wrestled with for years. How much should you pay for something that will produce x amount of time savings. There are many times that spending say, $250.00 on a tool will produce enough time savings over a short period of time that the purchase is worth it. Other times, the expense is for something that either doesn't save that much time or only gets used for a special purpose that doesn't arise all that often.

Another issue for me has been making jigs and fixtures that speed up a process. Should I invest the time to make them so I can save 7 minutes on each piece, or should I just take the extra time, finish it and move on to the next job? It depends on how much time it will take to make, how much time will be saved and how often it'll get used. Sometimes, we don't know what to expect on the time to make the jig or the amount of time it'll be used even if we do know the time savings.

I think a good way to make "educated" decisions is to know the cost of an hour of our time (since time is what we really are selling) and plug that into our decision process. Then, we can compare the cost of an item or the time it takes to make something to speed up the process vs. the profit benefit.
Rich

[MinUph]

Being the tool freak that I am. I love tools. Especially when they allow me to do a job faster or better. I look at it this way. An investment in a business is a good thing. Sometimes it works out and sometimes it sits on a shelf. But that doesn't really bother me. I like good tools and will pay for them when I need something. I won't buy them on credit or anything but will buy what I can afford.

[sofadoc]

Being the tool freak that I am. I love tools. Especially when they allow me to do a job faster or better. I look at it this way. An investment in a business is a good thing. Sometimes it works out and sometimes it sits on a shelf. But that doesn't really bother me. I like good tools and will pay for them when I need something. I won't buy them on credit or anything but will buy what I can afford.

Same here. I'm still wrestling with the idea of buying that decorative nail gun that's sold at the top of this page.

But not only would I be looking at $600 for the gun, but since it requires an air compressor with an output of at least 7 SCFM, I'd be looking at another $500-$600.

ALSO, all of the air compressors that size appear to be 220 V. So I would have to re-wire my shop to accommodate it.

So now, I'm looking at $1200-$1500 for a tool that will probably only save me about 5 hours per year (I don't get all that much nailhead work nowadays, and besides...... I'm pretty damn fast with a tack hammer).

And there has been some posts suggesting that the tool is difficult to control, and leaves scratches on the nailheads.

I've bought a lot of tools that just gather dust. But this one, I just can't seem to "pull the trigger" on.

[Dede]

My next "tool" is probably going to be an industrial buttonholer.

Please provide updates so that I may live vicariously through you.  I lust...

We made over 5000 buttons in a week on a couple of manual machines. ow... my arm... We really thought about investing in a pneumatic version, but they are no faster (just less physical).  And they're fussy and complicated, need a compressor, etc.

[MinUph]

ALSO, all of the air compressors that size appear to be 220 V. So I would have to re-wire my shop to accommodate it.

So now, I'm looking at $1200-$1500 for a tool that will probably only save me about 5 hours per year (I don't get all that much nailhead work nowadays, and besides...... I'm pretty damn fast with a tack hammer).

And there has been some posts suggesting that the tool is difficult to control, and leaves scratches on the nailheads.

I've bought a lot of tools that just gather dust. But this one, I just can't seem to "pull the trigger" on.

My compressor runs so much better on 220 I always add a 220 line for it. Not a big deal to run.
We get A LOT of nail trim these days all close. Chairs, walls, headboards. I did a job several months ago. 3 temp. walls upholstered both sides and nails around all sides tops and bottoms. I bet I ran through 6 boxes of nails. I would have liked the gun I think. I too am pretty fast with a tack hammer but the amount of nails I dive nowadays I think the nailer would be a good investment.

[bobbin]

Rich, you and I are on the same page.  There are LOTS of things I'd love to buy, but I have to be practical and do the arithmetic to determine how quickly the "investment" will be repaid since my "open to buy" is limited and I don't have an "history" of income on which to rely!

I already own many of the less expensive items.  But there is machinery (= $$) that I'd like to add to the "fleet" and I'm nervous about spending the money at a time when current revenues are still unpredictable. 

[Mike]

Being the tool freak that I am. I love tools. Especially when they allow me to do a job faster or better. I look at it this way. An investment in a business is a good thing. Sometimes it works out and sometimes it sits on a shelf. But that doesn't really bother me. I like good tools and will pay for them when I need something. I won't buy them on credit or anything but will buy what I can afford.

I havnt bought anything on
credit in years I learned long ago when I got married that money trap  I spend what I can somtime more then I probably should loike currently  im in the middle of improving my shop to be able to work better in cool comfort spending money at a time that work is dead but even today got it wired for the ac unit ive got abo0ut $900 to go but in the end it will be worth it espicialy come next july

PS Bobbin seems you don't work at your at your straight job. I didn't hear that you quit,  is your husband still working?

[byhammerandhand]

There really is a chance to go overboard, too.  Several examples that I know of:

I attended the estate sale of a founding member of the woodworking club.   I never saw that he ever made anything, but there were 104 sets of four C-clamps in 3" and 4" sizes.   Just what the heck was he thinking when he bought his 400-404th C-clamps, I might need 412 C clamps for a glue up some day?    Likewise there were 4 tables of art supplies, most of which looked like there was one squeeze of paint out of the tube.

I used to work with a guy who I dubbed, "The kind of guy that Radio Shack loves to see walk in."   He was trying to liquidate from a number of different hobbies that sputtered out-- photography, RC airplanes, HAM radio, etc.

Woodworkers, especially those into hand tools are known to over do it.   A guy might have 100 different hand saws and dozens and dozens of hand planes, all virtually the same except for size variations, manufacturer, etc.  You could get by with 4 different hand saws and 3 or 4 planes.

One of my former customers (his retail furniture store went bankrupt during the great recession) got into home improvement (semi-retired).   He'll think nothing of buying a $900 paint sprayer for one job, a power saw for another etc.    On the other hand, he gave me about 100 partial cans of lacquers and a power miter saw that only needed a $2.50 spring reset.   



But not me, nope, I don't have a tool problem.