Monday
Jul182011

Risk Management

In these uncertain times, risk management is more critical than ever.  We often focus on the risk of over-reaching:  What will happen if I expand now?  Should I wait until things begin to pick up before I purchase new equipment?  Will I gain more market share or will my income remain the same?  What if I buy new equipment and the market stays flat?  How will I pay for the new equipment?  These are very important questions to ask when evaluating the risk of expansion or purchasing new equipment, but if we are going to take a complete look at risk, there are a few more questions to ask.  If I put off my plans to expand, will I still have the same opportunities?  Is my competition planning to expand right now?  Will they expand and take some of my customers?  How will this loss of business affect my future?

Risk Verses Reward

Overreach and you risk adding to your troubles, under achieve and you risk being left behind in a super competitive marketplace.  Make the right choice and good things happen, make the wrong choice and a bad

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Wednesday
Mar092011

Live Online Training Test

Nothing can beat hands-on training; however, coming to Legacy's facility in Springville, UT for training is not always practical.  On Tuesday, March 15, 2011 at 6:00 pm Eastern Time, Legacy will be testing a live online training session.  Class size is limited and will be offered  to everyone who request an invitation on a first come first serve basis starting with Legacy customers and then open to everyone while spots are available.  To request an invitation and reserve your spot use the Live Online Training Request email form found on the Contact Us page.  Request to participate in this first class must be received by Sunday March 13, 2011 so that we can respond to your request and organize the class.  If you are accepted you will receive an email 30 - 15 minutes prior to the start of class (5:30 pm - 5:45 pm Eastern Time) containing a link to the class.  Once you click on the link you will be taken immediately into the class.  The class will start at 6:00 Eastern Time and go until 6:30 with 15 minutes of Q&A following the class starting at 6:30 pm and ending at 6:45 pm Eastern Time.

The first class will be on creating a home location for the A-Axis using the G28 code.  If, for example, you use a four jaw chuck and change the X-Axis home location so that you don't crash the cutting tool into the chuck, or if you inadvertently change the home location by mistake, you can easily return to the permanent home location and reset the coordinates. 

The purpose of this first class is to test the chat, conference call, file sharing and control sharing capabilities of the program.  We will attempt to record the class allowing Legacy to post the video on our website for later review.

We look forward to seeing you in class and examining the possibilities of the live online training.

Tracy Anderson
Legacy Woodworking Machinery

Wednesday
Mar022011

Remote Access Software Installation

Any computer shipped from Legacy after 03/01/2011 will have the new Remote Access software installed and ready for technical assistance via the internet.

Remote Access software allows Legacy to log on to your CNC, update files, set parameters and fix problems.  The software requires access to the internet which can be setup with either an ethernet cable or wireless connection.  Once your computer is hooked up to the internet you can download the program from Legacy's website by logging in and clicking on Customer / Downloads / Software / Remote Access Software / LogMeIn.msi or Legacy can send an email with the download link.  If you prefer to recieve an email with the download link please send an email to tracy@legacywoodworking.com.  You do not need to install LogMeIn if your system was shipped after 03/01/2011.  If you have any questions contact Legacy to see if your system is already setup for Remote Access.  To install the Remote Access Software follow these instructions paying close attention to steps 12 and 13:

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Tuesday
Aug172010

Section 179 - The Opportunity of a Lifetime

Over the last two years a number of Legacy customers took advantage of the Section 179 tax deduction when purchasing their Legacy CNC.  If you are not familiar with Section 179 then you should definitely study up and/or talk your accountant.  Section 179 basically allows you to write off the full cost of the CNC this year significantly reducing the initial cost of ownership.  If you are in a 15% tax bracket and can deduct the full purchase price, then you are essentially getting a 15% savings off the price of the machine.  A great resource of information is the website http://www.section179.org.  There you will find information on what types of property qualify for the deduction and "electing the deduction".  It is important that you get the proper form (4652) and attach it to  you tax return.  You can download the forms and get all of the information you need at www.section179.org.  This year may be a once in a lifetime opportunity.

When combined with financing or leasing, the section 179 tax deduction allows a business to minimize the first year net cost.  In many cases the first year is basically free.

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Thursday
Jul292010

The Woodworking Bucket List

One of the things that I enjoy most about working in the woodworking industry is the opportunity to meet and talk with woodworkers from all over the  world.  Woodworkers have a passion for what they do that is different than any other industry that I have worked in.  Woodworking is more than a hobby, it's more than job or an occupation, it's a combination of passion, art, architecture, design, craft and self expression that has been with us from the beginning of history.  Recently I spoke with one of our customers who stated that the reason he was purchasing a Legacy CNC was because he figured he had about ten good productive years ahead of him and he wanted to get the most out of that time.  As I thought about what he said, I began to make a mental bucket list.  The more I thought about it, the more I realized that woodworking played a major role in what I wanted to experience and accomplish in my life.  I decided to create a woodworking bucket list and here is what I came up with.

 

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