Always have the latest equipment
Invest in technology, and be ready when the market turns. In today's age, that means:
Remain small and agile.
Skunkworks (Lockheed Martin) went from the stealth fighter concept to flying prototype in 2.5 years. Their efficiency came from being small and agile - only 30 people (including engineers and fabricators). This resulted in:
- Ideas are generated, modified (synergy), and accepted/rejected in a very small time frame.
- No red tape. Decisions are quick, implementation is quicker.
- Communication is flowing and natural - such that scheduled meetings represent a failure in communication.