Other companies have learned that too much time consumption as well as too high resource consumption are disadvantages that can be experienced when investing in digitalisation. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Too much time consumption

“The older customer group has difficulty coping with the demands of digitalisation. They come to the store and need guidance. In addition, the demand for internal courses has grown.”

“It requires a lot of long-term training of employees.”

“The challenge is time spent internally on training and courses.”

Too high resource consumption

“Digitalisation is constantly evolving. It brings updates that one must constantly learn to understand.”

“Digitalisation has led to additional costs. In addition, there is a greater error rate, as extra staff can not figure out the systems. It is difficult for staff to operate our new cash register system.”

“The economy is slipping and it requires additional competencies in ourselves to keep the company on track. We are small and cannot afford our own IT specialist.”

When investing in digitalisation, it should be after thorough preparation and along the way you should pay attention to managing the consumption of resources that can easily get bigger than expected. Other companies have experienced this when they have invested in digitization. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Prepare thoroughly

“Employee planning, thorough research and thorough decision-making were critical to our success with the investment.”

“Prior to the investment, we spent time on opt-in and opt-out and planned the time for commissioning. An important part of the work with the investment was employee involvement.”

“We could have gotten a better and cheaper product from other suppliers if we had researched it better.”

Do not underestimate the resources the investment requires

“We had not set aside enough time. Partly in the implementation and training of staff (software training)”

“We underestimated time consumption and lack of skills among employees.”

“We spent too much time and this disturbed the operation workflow.”

Other companies experience that the most significant risks of investing in digitalisation are that it is demanding both in terms of time and resources for the company. Here you can read a selection of their experiences with these risks. When you are done, you can use the arrows to read further.

The time consumption runs off

“The task becomes more expensive than expected and draws resources internally. This takes time and removes focus from day-to-day operations. It has cost a lot to digitalise, but all in all we are happy we got it done and hope for a good return on investment. “

“The only risky thing about digitalisation was lost hours. But we had expected that, and included it in our estimates.”

“The most risky part of the investment was whether the time consumption was translated into increased earnings. This should preferably be done through future saved time consumption.”

The investment is resource intensive

“There was a risk of significant budget overruns when investing in a new ERP system, as well as a risk of disrupting our normal operations.”

“When we invested in digitalisation, we saw budget overruns, supplier choice and whether we ourselves had the resources to solve the task, as the main risks.”

“The risk of digitization is if the digitalisation product does not work as intended, which means delayed rollout and extra troubleshooting costs – it unfortunately turned out to be a reality for us.”

Other companies have learned that excessive resource consumption and pressure on the organization are disadvantages that can be experienced when investing in employee development. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Excessive resource consumption

“We have become too expensive with our hours and have thus lost competitiveness.”

“It costs money and takes a long time to upgrade people from employees to middle managers.”

“The investment was high both in time and money, but the return was worth it (skilled employees).”

Pressure on the organization

“The transition to being a larger workplace has been tremendous.”

“Wage costs for retaining core employees in decline have been high.”

When investing in employee development, you should ensure thorough training of employees and along the way you should be aware of employee involvement. Other companies have experienced this when they have invested in employee development. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Train employees thoroughly

“We have spent resources (time and money) on developing the employees so that we can grow. It was not possible to hire employees who already had the skills. Despite major challenges, it has been right to stick to the decision on employee development Last but not least, it has been right to let go of control and throw the employees into doing the tasks themselves.”

“Patience in training the employee. In addition, it has been important to invest in the right employees as well as the introduction of concrete and clear values in the company.”

“We have found an educational opportunity at a foreign school where employees can gain the right competencies. We have also given employees the opportunity to apply the new knowledge fully.”

Involve employees

“The employee has gained more and more influence, so that he or she is ready to take over the company in the long run.”

“There has been a focus on process improvements going forward rather than finding employees who have made mistakes. And then we have focused on communicating good results.”

“I have not had enough time in the subsequent phase to follow up on the well-being of all employees.”

Other companies experience that the most significant risks when investing in employee development is whether the employee has the right competencies for development and to retain the employee after the investment. Here you can read a selection of their experiences with these risks. When you are done, you can use the arrows to read further.

Employee retention

“I think a risk when investing in employee development is to retain the employee going forward and not lose valuable know-how. We are also vulnerable to illness / vacation and we lose earnings during the training period.”

“It is risky to invest in employee development as the employee may find another job.”

“There is competition from other workplaces and the employee can be headhunted after we invest.”

Employee competencies

“There is a risk that the employee does not have the right skills as well as energy and resilience.”

“It takes time to train the employee, and it is expensive in salary costs and expenses for equipment, etc. There is also uncertainty about earnings after the investment. In addition, there is a risk that the employee fails and this entails very large repair costs.”

“In my experience, there is a risk in whether the employee is able to work independently and solve complex tasks.”

Other companies have learned that higher resource consumption and time pressure are disadvantages that can be experienced when investing in new production technology. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Higher resource consumption

“We have higher operating costs than expected.”

“We have incurred significantly higher start-up costs and thus more fixed costs.”

“We have higher zero turnover and increased dependence on key employees.”

Time pressure

“Running in facilities as well as training staff took a long time.”

“We experienced time-consuming running-in.”

“The investment required more time than expected.”

When investing in new production technology, it should be after thorough preparation and along the way you should pay attention to managing the consumption of resources that can easily get bigger than expected. Other companies have experienced this when they have invested in new production technology. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Prepare thoroughly

“We have analyzed needs at product level and obtained competing offers for the development task. In addition, we agreed on training courses with the supplier.”

“We analyzed the market and invested in the most profitable products.”

“We built up the business case pretty thoroughly.”

Do not underestimate the resources the investment requires

“The establishment has taken too long and we have been concerned about the uncertainties associated with it.”

“We underestimated the implementation costs, both in terms of time, technology and quality assurance.”

“The need for working capital was higher than expected. However, this was resolved within a year.”

Other companies experience that the most significant risks when investing in new production technology is whether there is enough demand and general market changes after the investment. Here you can read a selection of their experiences with these risks. When you are done, you can use the arrows to read further.

Is there a demand?

“We were disqualified as a supplier due to the investment in new technology in an old, proud craft profession.”

“The technology was not used and was not attractive to our customers.”

“We saw that there was external competition and / or dwindling demand.”

Market changes

“We saw declining order intake and declining market share after the investment.”

“Changes in the market and sales were challenging in terms of depreciation on the investment.”

“Activity in the industry declined, giving us trouble selling our products.”

Other companies have learned that unclear focus as well as excessive time consumption are disadvantages that can be experienced in connection with the purchase of a new company. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Unclear focus

“We have experienced employee neglect and a lack of focus on core business in connection with the acquisition of a company.”

“While the acquisition was going on, we lost focus on the ‘old’ business.”

Too much time consumption

“We have worked hard and spent a lot of time on the investment.”

“It takes time from other parts of the business and the money tied up is high.”

“Our time consumption was large and it was difficult to communicate to the market (the customers).”

When buying a business, it should be after thorough preparation and along the way you should be aware of the implementation process. Other companies have experienced this when they have bought companies. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Prepare thoroughly

“We have found the right company and made a professional acquisition process. We have handled the information flow and integrated the company well. We chose the right suppliers and have found good employees and made good management processes.”

“Our organization was not ready and we had too little knowledge of the company, that needed to be integrated.”

“Our plan should have been clearer. We should have followed up on development projects better, and it was not clear what the motives were behind the collaboration with the integrated company.”

Focus on the implementation process

“We strengthened the management functions of the existing company and delegated more responsibility. We listened to core employees and were aware of other culture and other decision-making processes in the company we have taken over.”

“We involved the employees so that they did not have the feeling of having been taken over. We took the best from both companies and focused on retaining customers and employees.”

“We should have prepared the administration better and set aside more resources for the implementation of new administrative processes. It would have resulted in greater control, lower costs and better earnings from the acquisition.”

Other companies experience that the most significant risks when buying a company are problems with customer retention and employee retention. Here you can read a selection of their experiences with these risks. When you are done, you can use the arrows to read further.

Customer retention issues

“We were concerned about retaining market share and customers in the new business.”

“To what extent do customers follow when buying another company? In our situation, the acquired company is dependent on a few large customers. That’s worrying.”

“There is a risk in the customers’ willingness to switch to another product.”

Problems with employee retention

“It was uncertain whether the employees wanted to stay in the acquired company.”

“We considered whether we could secure synergies, and saw employee retention as risky.”

“The employees we take over are the most important in the investment, but there is no guarantee that they will stay in the company.”

Other companies have learned that loss of overview as well as excessive time consumption are disadvantages that can be experienced when investing in new products. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Loss of overview

“We are experiencing greater complexity in the business and changes in relation to core customers.”

“A lot of energy and hours have been spent on building up a market, but there has not been enough interest in the product. The focus has shifted from the core business to the establishment of the new project.”

Too much time consumption

“We’ve spent way too many hours in terms of earnings.”

“Many labour hours have been spent on adjusting / building the entire product.”

When investing in new products, it should be after thorough preparation and then you should consider the product selection carefully. Other companies have experienced this when investing in new products. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Carefully consider the product selection

“We focused on the time-to-market, not to span too wide and to meet minimum requirements among customers instead of finding a 100% solution in the first place.”

“The product selection and introduction of the product was important.”

“The product strategy has been right. We have chosen an innovative product for a large and growing market, and it has been well received.”

Prepare thoroughly

“We have been good at finding the place in the market. We have found the right partners and kept the resources in-house, so we could determine the pace and keep knowledge in the house. We have managed the development work tightly, and always focused on getting the new product out and generate revenue. “

“Thorough research before launching the project was an advantage.”

“The investment was based on gut feelings and may still seem suboptimal and might have been done differently. The investment has locked us in for an extended period of time to continue investing with the same manufacturer.”

Other companies experience that the most significant risks when investing in new products are whether there is demand for the investment and challenges in assessing competition. Here you can read a selection of their experiences with these risks. When you are done, you can use the arrows to read further.

Lack of demand for the investment

“There is uncertainty about the market potential and thus earnings. In addition, there is uncertainty about external factors such as changes in legislation that will change the product’s potential and relevance to the market.”

“We were concerned about whether the demand was present.”

“There was uncertainty about distribution in the retail market despite significant prior market research. Would the new product have consumer appeal and the ability to create consumer preference, repurchase and loyalty?”

Challenges in assessing competition

“If you do not develop your product portfolio and business, you will be overtaken by the market and competitors.”

“We’re in a competitive market, so it’s hard to know how well the market is accepting new products.”

“We were unsure of the competitors’ reaction as well as the lack of underlying organization within ourselves.”

Other companies have learned that too high resource consumption as well as excessive time consumption are disadvantages that can be experienced when investing in new foreign markets. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Too high resource consumption

“It turned out that the investment was resource-intensive at all levels (development, marketing, finance).”

“Very resource intensive – both in time and money.”

“Rules, language and shipping of goods were some of the challenges of the investment, which made it resource-heavy.”

Excessive time consumption
“We had a high time consumption. In addition, expenses for travel activities.”

When investing in entrants in new foreign markets, it should be after thorough preparation and then you should consider the product selection carefully. Other companies have experienced this when investing in new foreign markets. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Prepare thoroughly

“We emphasized analysis/assessment of business opportunities and thoroughness in the hiring phase, on-boarding and personal involvement.”

“I think we did everything right in terms of entering the new market. We made a very thorough business case. But our problem was that our product case was too weak, and therefore we had to pull the plug.”

“We have been successful in establishing and continuously developing a scalable solution to meet an unmet need in new markets. We have a goal of a market-leading role in defined niches. We have ambitious growth goals based on the design and roll-out of a offensive go-to-market strategy. We chose early on an internationalization of the company with English as the corporate language – not only externally but also internally.”

Do not underestimate the resources required by the investment

“The primary cause of extra expenses and time consumption is documentation and control and again control of even insignificant things that have no meaning but that are just expenses.”

“At times, there has been a lack of quality in the work, which has meant unnecessary extra costs and thus a lack of earnings.”

“The financial basis for getting started has been too flimsy and bad payers have led to more management hours.”

Other companies experience that the most significant risks when investing in new foreign markets are insufficient market knowledge and difficulties in assessing whether there is a demand. Here you can read a selection of their experiences with these risks. When you are done, you can use the arrows to read further.

Insufficient market knowledge

“We were unsure of the market’s readiness for our products. The daily cooperation with our partner and co-owner of the department abroad was cumbersome, and we experienced technical difficulties with partial product manufacturing in the new department.”

“Our assessment is that there is little likelihood of finding the right agent. In addition, there are expenses for investing in setting up an office.”

“It is difficult to set up a company in another country and there are shipping costs. And then one must not forget the cost of translating websites etc.”

Difficulty in assessing whether there is a demand

“We were concerned that the emerging markets would not accept our concept.”

“We experienced no response from visits to trade fairs abroad. Otherwise, we have always had a good response for the last 8-10 years.”

“There was uncertainty about the impact as a small business towards large customers in North America. And uncertainty about establishing a partner-based sales channel.”

Other companies have learned that overview lack as well as for excessive time consumption are disadvantages that can be experienced when investing in research and development. Here you can read a selection of their experience. When you’re done, you can use the arrows to read further.

Lack of overview

“The investment pulled out and exhausted parts of the organization, waiting for results. The investment also removed the focus of other sales and development and then the investment cost liquidity and negative impact on the accounts, without security for a return later.”

“We made a scattered effort and lacked focus on the core business.”

“We lost focus on daily operations and earnings.”

Excessive time consumption

“It was an expensive investment with many hidden costs and very large time consumption in addition to regular working hours.”

“A negative consequence was a very high hourly consumption that could be used in other market measures. This means that we had to take a choice as the company is limited by the amount of resources.”

“We lost a number of equity on development, patent and market research. This due to expensive engineering time, which is expensed immediately in the accounts. In addition, there were expensive management time involved as well as research and development costs. Last, but not least, we lost focus on existing business.”

When you invest in research and development, it should be after thorough preparation and you should focus on controlling the process during the project. It has other businesses experienced when they have invested in research and development. Here you can read a selection of their experience. When you’re done, you can use the arrows to read further.

Prepare thoroughly

“We try to be considere and decide through joint discussions, and we do market research before launching projects.”

“We spent time reading market needs and translate them into a saleable product. In addition, we use sales and delivery methods that fits the market preference. We also have good experience of hiring staff with good skills that have made the area developing better than expected. “

“We plan thorough preparation of the individual projects in cooperation with external companies. In addition, we have expanded the development department including better clarity in roles and responsibilities in relation to the rest of the organization.”

Have focus on managing the process

“We have been too reluctant with recruitment and we have lacked retail management of the process.”

“We have lacked management of the development process, and we have lacked commissioning time after investment.”

“We underestimated how long things took before we were in goal. And we scattered the investment too broadly in too many different goals.”

Other companies find that the main risks of investment in research and development are whether there will be demand for the investment and to manage the time spent. Here you can read a selection of their experiences with these risks. When you’re done, you can use the arrows to read further.

Will there be a demand for the investment?

“We didn’t know if the new product would be well received. It was also a challenge that our sales channel did not understand what the product could do for customers, and we were not even skilled enough to market the product.”

“We were concerned about whether the product would live up to our expectation and be competitive in the market, or whether there would be limited consumer interest.”

“There was a risk that others would come before us with the same product, and that the market would not care about the product. We have a customer group that is interested in the product’s properties, and a customer group that is only interested in the price. The two customer groups affect each other, and if the customer group, which is only interested in price, has taken over, the investment will be wasted. “

Can the time consumption be controlled?

“We continuously invest in the further development of our products and services, so it is primarily investment of internal hours it is about.”

“Development takes time and costs money.”

“As we make project work, where the success is determined by a competition between us and the competitors, there is a great risk that project hours are wasted, as all the competitors are skilled.”

Other companies have learned that excessive time consumption and higher resource consumption are disadvantages that can be experienced when investing in new services. Here you can read a selection of their experience. When you’re done, you can use the arrows to read further.

Excessive time consumption

“The investment requires managerial resources and moving focus from other business areas.”

“The investment has led to over work in relation to the number of employees.”

“It was a disadvantage that we had too much time spent and we used too many resources on training of employees.”

Higher resource consumption

“We got increased costs due to new equipment, which required training of employees. In addition, the investment required more administration.”

“It has been a more expensive and more long-drawn process than expected.”

“We had high starting costs in relation to what we expected.”

When investing in new services, it should be, according to thorough preparation and along the way, you should be aware of managing the consumption of resources that can easily become higher than expected. This is what other companies experienced when they have invested in new services. Here you can read a selection of their experience. When you are done, you can use the arrows to read further.

Prepare thoroughly

“We used many resources on assessing the market and development opportunities.”

“We have used a lot of energy in analyzing our customers’ needs.”

“We examined the market thoroughly to identify customer needs.”

Do not underestimate the resources the investment requires

“We underestimated the scope of the task and the investment required managerial resources and moved focus from other business areas.”

“We have underestimated resource consumption due to insufficient processing. For example, we should have used several efforts to investigate customer needs.”

“It was a disadvantage that we had too much time spent and we used too many resources on training of employees.”

Other companies find that the most important risks of investing in new services are whether there will be demand for the investment and to manage resource consumption. Here you can read a selection of their experiences with these risks. When you’re done, you can use the arrows to read further.

Will there be a demand for the investment?

“We were concerned that there was no demand for the product, as consumers focus on ‘cheapest is the best’.”

“There is a risk that there is no required demand to cover the cost of the investment.”

“We do not know if customers find the new services attractive and whether they are willing to pay an additional cost price for the product.”

Can resource consumption be under control?

“The cost could potentially be much larger than expected.”

“We can run into the retention of establishment costs.”

“There is a risk that we can miss liquidity before we finish developing our product.”

Other companies have learned that excessive time consumption and the lack of overview are disadvantages that can be experienced when investing in new suppliers. Here you can read a selection of their experience. When you’re done, you can use the arrows to read further.

Excessive time consumption

“The supplier has made several errors that have taken time to correct.”

“It has been time consuming.”

“The investment requires many hours for maintenance, renewal and expansion.”

Lack of overview

“We’ve lost the control.”

“It has been difficult to measure the effect of the investment.”

“The choice of a new supplier has proved to have consequences for our existing products.”

When investing in new suppliers, you should consider the choice of the supplier thoroughly and along the way, you should be aware of managing the consumption of resources that can easily become higher than expected. This has other companies experienced when they have invested in new suppliers. Here you can read a selection of their experience. When you’re done, you can use the arrows to read further.

Consider the choice of supplier thoroughly

“We have examined the market thoroughly and have met with more than one supplier. We were lucky to have a proper choice of partner.”

“We needed to clean up. The investment led to clarity, and the collaboration was better after the investment.”

“Thoroughly process has been crucial. We have exploited our network to make the right choice about business partners. It led to better support from our supplier.”

Do not underestimate the resources the investment requires

“It takes a long time to implement the collaboration with new suppliers.”

“It has gone slower for us than it should, among other things, because we have given suppliers a ‘long leash’.”

“We purchased goods from the supplier, that turned out we couldn’t sell. This led to loss.”

Other companies find that the most important risks of investing in new suppliers are uncertainty and security of product quality. Here you can read a selection of their experiences with these risks. When you’re done, you can use the arrows to read further.

Uncertainty

“We are uncertain whether the supplier’s employees can supply the necessary quality.”

“There is uncertainty whether the products ordered meet the agreed quality.”

“We are uncertain whether the supplier is trustworthy. It’s hard to know if they deliver the promised quality and whether they deliver the product on time.”

Can the product quality be secured?

“We ask ourselves whether the new supplier is trustworthy and can live up to our quality requirements.”

“Can the delivery time and quality be maintained?”

“We are uncertain about whether the quality is maintained.”

Other companies have learned that excessive time consumption and higher resource consumption are disadvantages that can be experienced when investing in new sales platform. Here you can read a selection of their experience. When you’re done, you can use the arrows to read further.

Excessive time consumption

“We have a higher internal time consumption than expected. It takes time before customers get used to the platform.”

“The project has taken a long time and is still not in target.”

“It has taken a lot of focus from the daily tasks.”

Higher resource consumption

“We clearly used too many resources.”

“We’ve had a high internal resource consumption.”

“The cost was higher than expected.”

When you invest in a new sales platform, you should prepare yourself thoroughly and particularly consider the choice of supplier. It has other businesses experienced when they have invested in new sales platform. Here you can read a selection of their experience. When you’re done, you can use the arrows to read further.

Prepare thoroughly

“We prepared ourselves by purchasing a market report.”

“We have had a strong focus on analysis and planning before investment was completed.”

“We have invested time in analyzing the experiences of others with the same type of investment.”

Consider the choice of supplier thoroughly

“We have probably not sufficiently delimited the project. We chose a newly started supplier who could not deliver the agreed platform.”

“We saw downtime because we weren’t well prepared for the shift. It was expensive.”

“We should have been more thorough in choice of the provider. We should have involved past experience rather than relying on supplier’s qualifications.”

Other companies find that the most important risks of investing in a new sales platform are whether there will be a demand for the investment and to manage the time spent. Here you can read a selection of their experiences with these risks. When you’re done, you can use the arrows to read further.

Is there a demand for the investment?

“Will customers use our new webshop at all?”

“How will the customers view it?”

“Will customers really use our new platform?”

Can time consumption be under control?

“The time spent worries us.”

“There has been a great deal of time in connection with integration into accounting program.”

“There is a risk of great internal resource consumption in the form of employee hours.”

Other companies have found that higher consumption of resources and pressure on the organization has drawbacks that can be experienced when investing in new Danish markets. Here you can read a selection of their experience. When you’re done, you can use the arrows to read further.

Higher resource consumption

“We got high expenses, which had a negative influence on the result.”

“We have used more resources on adapting the concept than expected.”

“We have spent more money on establishment costs, wages and management resources than we had believed.”

Pressure on organization

“There has been great replacement of employees and management in the new department, which has created pressure on the organization.”

“There has been increased work pressure on the organization. We needed more labor, which has been difficult to find.”

“The investment has been demanding for employees.”

When investing in entrance in new Danish markets, you should be thorough finding the right employees and remembering marketing. This has other companies experienced when they have invested in new markets. Here you can read a selection of their experience. When you’re done, you can use the arrows to read further.

Remember marketing

“We have focused on getting greater visibility.”

“We’ve been successful in participating in relevant fairs.”

“We enjoyed local marketing.”

Find the right employees

“We found the right people.”

“We have succeeded in hiring the right key employees.”

“We have underestimated how difficult it is to recruit the right people. We ended unfortunately with hiring an unsuitable department manager. It cost dearly.”

Other companies find that the main risks of investing in new Danish markets are whether there will be a demand in the market and recruitment. Here you can read a selection of their experiences with these risks. When you’re done, you can use the arrows to read further.

Will there be a demand in the market?

“There is a risk that we cannot obtain customers in the new market.”

“Customer amount may be too flimsy.”

“It is uncertain whether we can attract customers.”

Do we succeed in recruiting?

“There have been trouble finding and training staff.”

“It’s hard to find employees with the right skills.”

“We lack the opportunity for recruitment.”

Other companies have learned that excessive time consumption and higher resource consumption are disadvantages that can be experienced when investing in new sales channels. Here you can read a selection of their experience. When you’re done, you can use the arrows to read further.

Excessive time consumption

“It has taken a long time. The supplier has made several errors that have taken time to correct.”

“It’s time consuming in everyday life that there are several areas we must relate to.”

“It requires many labour hours for maintenance, renewal and expansion.”

Higher resource consumption

“A great resource feature has inhibited the development of the production.”

“We have had many maintenance costs.”

“The project has increased our costs – so far without visible results.”

When investing in new sales channels, you should be persistent and do not give up and remember marketing. This has other companies experienced when they have invested in new sales channels. Here you can read a selection of their experiences. When you’re done, you can use the arrows to read further.

Be persistent

“We were persistent and struggled for many years.”

“It’s a matter of not giving up but just hanging on.”

“You must count on using many hours of work.”

Remember marketing

“We have used resources on becoming a well-known brand.”

“We are working to market ourselves on the right channels along with our newly employed media responsible.”

“We have widened knowledge of our solutions and products by focusing on improving the visibility of the company.”

Other companies find that the main risks of investing in new marketing channels are to achieve sufficient market knowledge and whether there will be a demand for the investment. Here you can read a selection of their experiences with these risks. When you’re done, you can use the arrows to read further.

Do we have enough market knowledge?

“We are concerned about whether our new representatives manage to sell our services.”

“It is difficult to accurately assess new sales channels and markets.”

“There were new customer segments where we didn’t recognise the potential.”

Will there be a demand for the investment?

“We have mispredicted digital media and are uncertain if we can achieve our target group.”

“We’re afraid our assortment cannot be sold.”

“We are uncertain whether the expected demand will actually come.”

Other companies have learned that lack of overview as well as higher resource consumption are disadvantages that can be experienced when investing in outsourcing. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Lack of overview

“Giving control requires confidentiality and a lot of trust in external partners. It leads to dependence on external key employees.”

“We are losing competencies internally within the company.”

“Our goods were not present at the right time and place.”

Higher resource consumption

“Our travel activity has increased. It’s a challenge that we can not just hold a physical meeting when needed.”

“It’s a more expensive solution than we expected.”

“Our transportation costs have become significantly higher.”

When investing in outsourcing, you should remember thorough preparation, ongoing follow-up and ensuring good agreements with suppliers. Other companies have experienced this when they have invested in outsourcing. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Remember to follow up and adjust regularly

“We have done thorough research before the investment. But subsequently we have had poor quality control, which has made the collaboration more expensive than it should have been. “

“Our preparatory work has been an important part of the process. Initially, the quality was not as expected, but we have subsequently adjusted it.”

“We have made a good preparation and planning.”

Good supplier agreements are crucial

“We have given the supplier free rein. It has costed us.”

“We had too high expectations of the supplier that they could not live up to.”

Other companies experience that the most significant risks when investing in outsourcing are a lack of supplier security and a lack of market knowledge. Here you can read a selection of their experiences with these risks. When you are done, you can use the arrows to read further.

Can we count on the suppliers?

“When using subcontractors, there is always a risk of errors and other problems.”

“Will the supplier continue to exist?”

“We anticipate a risk of non-delivery security.”

Is our market knowledge good enough?

“We have a lack of familiarity with potential outsourcing partners.”

“Our customer relationships can be jeopardized.”

Other companies have learned that higher resource consumption as well as excessive time consumption are disadvantages that can be experienced when investing in insourcing. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Higher resource consumption

“Costs have risen after the investment.”

“We are experiencing increased wage costs, which are becoming fixed rather than variable.”

“The investment has come at a great cost.”

Excessive time consumption

“It takes time to get the right team up and running.”

“We have a higher time consumption than expected.”

When investing in insourcing, you should prepare thoroughly, be persistent and not give up. Other companies have experienced this when investing in insourcing. Here you can read a selection of their experiences. When you are done, you can use the arrows to read further.

Prepare thoroughly

“Research has played a crucial role for us.”

“We’ve made a good research.”

“We have not analyzed the investment well enough, so in reality we have not been aware of possible consequences, which makes our organization vulnerable.”

Hold on and do not give up

“We have had faith in the project and the investment.”

“We’ve believed in ourselves all along.”

“You have to believe that it will succeed.”

Other companies experience that the most significant risks when investing in insourcing are whether there will be a demand for the investment and ensuring the right internal competencies. Here you can read a selection of their experiences with these risks. When you are done, you can use the arrows to read further.

Will there be a demand for the investment?

“We are experiencing uncertainty about customer access.”

“We are concerned about lack of demand.”

Do we have the right internal competencies?
“We are uncertain whether we have the capabilities to insource this investment.”