It”s common wisdom that setting goals makes things happen. I was out meeting with clients this week preparing budgets for next year. Since we work a lot with small business owners the first question is usually “what are your goals
Know your costs
In order to cut costs strategically you must first know your costs. You must be able to see what your costs have been over time and hopefully have a plan for the future.
Knowing your costs is sometimes easier
Consider the Big Picture
Let”s examine more closely why looking at the big picture is so important. For starters, the big picture gives you a wider view of your market and your business.
Clearly, good strategies are critical to making good business
Some business owners are headed into a new year knowing they may need to reduce their costs to make their business healthy or to meet their financial goals. This is never and easy task, strategically, legally or emotionally. We thought
Reliable information exists, but it’s hard to locate. Many organizations lack a coherent, accessible structure for the data they’ve collected. They’re like libraries with no card catalog and no covers on their books. The rise of social media, new selling channels, and devices such as tablets and smartphones has made it even harder to manage analytic content. Fewer than 44% of employees say they know where to find the information they need for their day-to-day work.
Big data? Big deal. Just another means to make poor decisions from ‘garbage-in, garbage-out’ data quality, except on a grander scale. Now, more than ever, it’s vitally important to ensure data quality to support business decisions.
In companies data should be collected to provide answers to the most important questions and unless you are clear about the questions you need to answer, data is pretty useless.