Which is worse, losing money on a well-calculated investment or never making the investment in the first place? If you’re in business you ought to answer that the latter is worse, otherwise you should just buy annuities and called it a day! Last week we discussed hiring, and what is hiring but a calculated risk to grow your business. Just like any investment, the initial expenditure is only the beginning of the process. [Read more…] about Four Steps Forward
Things are going well in your business (or on your team) and some of these questions begin flooding your head: Should I hire someone? Where would I find them? What would they do? What skills do they need? How do I find the right candidate? Will they fit in?
This key step in growth could be intimidating. Here are a few steps to walk you through the process… [Read more…] about Hiring the Diamond in the Rough
If sales is the lifeblood of every company, then marketing is the heart that keeps a steady flow going so that we don’t run out. Unfortunately, many small business owners discredit the value of marketing and see it as either an unnecessary expense or something for the bigger guys. This couldn’t be further from the truth, and this short-sightedness could certainly be a key contributing factor explaining why 50% of all businesses fail within their first 5 years. Fortunately, we have a simple approach to marketing to meet any company’s budget, no matter the size… [Read more…] about Breakthrough 4-Step Marketing Plan
Think back to the last time you went to the doctor. If something was wrong you needed medicine. Once the doctor figured out what was wrong with you, they wrote a prescription! This prescription is made up of two things – a prediction and a description. The description describes what has been happening – why have you been coughing? The prediction describes what will happen – your virus causing your cough could spread to affect other parts of your body. With these two things in hand the doctor can write his prescription. The prescription tells you what you should do – take this medicine twice daily.
In much the same way prescriptive analytics work for businesses. [Read more…] about The Analyst Will See You Now
There is quite a bit of unpredictability in sports; that’s why they are fun to watch. While being able to predict the results of every play in a game or a match would take all the excitement out of it, owners and managers could certainly benefit from predicting what it could take to lead their team to a winning season. Like a prophetic crystal ball, data analytics helps sports teams and businesses alike make predictions like these with confidence. [Read more…] about Forecasting Business Success
Are you climbing the ladder? What is your company’s personality? Don’t forget time is money! Using metaphors is second nature to us, and there is certainly no shortage of them in business. While these metaphors quickly establish a common ground of understanding between different parties, they can actually interfere with decision making. One more reason that decisions must be quantifiably justified. [Read more…] about Minimize Risk with Data Analytics