Do you suspect that your company performance could be better, but feel that finding a solution appears to be just out of your reach? In my role as mentor and business consultant I engage with many company directors, from various sectors of industry and commerce. Many of them describe how they seem to be working harder than ever at the moment, but still feel as if they are simply “treading water” .
Very often they are not looking at the right measures, or they simply fail to measure the obvious. My advice to them is always to identify the key factors which will indicate good company performance. They should then establish simple systems to monitor these. The purpose of Key Performance Indicators (KPI) is to provide a “dashboard” with which to highlight the current performance state and to forewarn of adverse trends. Even a small drift away from target may highlight the return of a known problem, or even reveal a new problem. The data will reveal whether your systems are being used properly, and whether your business processes are sufficiently robust. Too many companies get bogged-down and paralysed by the data, or simply fail to take action. Making small changes can be much more effective than trying to change everything at once.
It is a well-known fact that poorly-maintained systems will quickly lose their credibility, with the most frequent cause being poor control of data. I often find that a company has invested too little in training their users, believing that shortcuts will save money but in reality, the saving of direct training costs is easily eclipsed by the hidden costs of maintaining ignorance. Having good systems provides a firm foundation for action, freeing people to use their judgement and to take the initiative in solving problems. It would appear that too many company directors are busy looking, but not actually “seeing” the obvious.
For a free discussion without commitment, speak to Richard at Carter Wells Business Solutions. 01992 573924