What gets watched improves

What gets watched improves

Friday, April 29, 2022

How often do you check the pulse of your business?

Many business owners are flying blind, let's be honest... waking up at 3am in a cold sweat because they have no real idea of how their business is doing or where cash is going.

Productive decision making in any business requires factual data, and your up to date factual data is the pulse of your business!

So let's talk about a dashboard or a scorecard, call it whatever you like - a handful of numbers (say 5 - 15, less is more!) that you can monitor on a regular basis and track your business performance at a glance. These numbers need to be meaningful to your business and they don't all have to be dollar related - revenue / cash in your bank account / bills you owe / client invoices due / number of sales / number of new client queries are just some examples you can run with.

Set it up, keep it current and refer to it often... weekly!

Your dashboard or scorecard becomes the predictor of your Profit and Loss and allows you to monitor trends and anticipate problems before they happen... leaving you to sleep a little easier!

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