Four Myths that Cause Businesses to Miss Out

Equipment for sale can be new, never used

Equipment for sale can be new, never used

Since I started REfficient, I have been amazed at how people’s perceptions and assumptions cause them to miss out on some great opportunities to drive cost reduction and even cashflow generation. Sure, assumptions may exist for every industry and everything, but so many businesses are missing out. So I have decided to set the record straight.

Here are four common myths and the truth behind them.

Surplus equipment means used equipment.

Surplus really just means in excess to someone else – RE, again, redundant. It does not refer to the condition of the equipment. Some/j equipment may be used, but there is a lot of new surplus product available for purchase. Over 50% of the equipment for sale on REfficient.com is new, never used product. In some cases, it is possible to get an additional warranty so you can get the assurance you want.

Nobody wants it. It’s obsolete.

Just as the saying goes “one person’s trash is another person’s treasure”, the same can be said for surplus equipment. The actual percentage of what is reusable varies as due to various factors. Based on studies we Continue reading

Seven Ways to Use your Sustainability Statistics

Buying, selling and managing surplus equipment may not sound glamorous, but smart companies have used it to their advantage. After all, when companies ensure that equipment is reused, they are doing something good for the environment. That is why we produce a Go Green sustainability report for our clients. The statistics – whether waste diversion rates, related carbon footprint, or sustainable procurement initiatives—can be used for a variety of purposes.

Here are some practical ways companies have used their reuse and recycling statistics to drive environmental and brand value for their organizations.

Corporate Social Responsibility (CSR) reports

The most obvious place to publicize a company’s environmental performance is in their Corporate Social Responsibility (CSR) report.
These reports document a company’s actions and results towards its impact on the environment, communities and other stakeholders. CSR reports are usually done internally as a self-regulating mechanism. Most large multinational corporations now produce a CSR report, and many smaller ones are now participating. Some companies then submit their measures to a common reporting framework, such as the Global Reporting Initiative (or GRI).  Continue reading

Eight Unknown Benefits of Buying and Selling Surplus Equipment

Surplus equipment – preowned, “RE”, refurbished, used. There are many names for it. There are equally many benefits for buying and selling surplus equipment that people do not realize. Here are eight often unknown benefits.

Buying surplus saves companies a lot of money.

Cost savings can differ, but we can speak from what we have seen. At REfficient, our customers usually see savings of 20-50% off of regular retail prices. We have also seen savings up to 90% in certain circumstances. Indeed, “one company’s trash is another company’s treasure.”

It is possible to get brand new technology at reduced prices.

One of the biggest misconceptions is the tendency to think that surplus equipment means unreliable equipment. Yet over half of what is listed on our website is actually preowned but never used product in the original packaging. There are several reasons for this (see our blog) and this is a great opportunity to save. Used and refurbished equipment can also be reliable and in some cases warranties may be purchased. Continue reading

Being a Non-Technical Founder: Diagnosis & Remedy

I started REfficient because I believed there was a better way to manage resources. I knew that with the right tools and services, companies could drive both financial and environmental results from surplus assets.

Early on I recognized that technology would be important to drive efficiencies and improve our reach, so we started to build an online platform. We used three different developers over a six month timeframe – partially due to circumstance, partially due to frustration. Each time they would have their own spin and “feedback” on the others’ work. Continue reading