Knowing where you are, always..

Covid 19 has been detrimental to many businesses and individual lives. Sometimes it takes a special circumstance like this to knock us into a review of were we are on the scale called life.

Usually, things are ticking over smoothly or consistently until something goes unexpectedly wrong.

Can you get ready for this? Is it more time consuming drafting contingency plans than practicable?

Whatever framework you have defined for yourself double check the quality of the information you have at hand, for the simple reason that we don’t review our metrics often enough.

For example, knowing that your revenue is gradually increasing may bring about a satisfactory feeling but in real terms it may not be accurate.

Looking at the simplified figure may hide some crucial changes to your client portfolio or changes in general demand. You may be selling more of the smaller widgets, which is normally more time and cost intensive as the profit margins are much smaller.

Be one step ahead. Take time this Wednesday and look at where the information that you so vehemently rely upon is coming from, how it is constructed, what is omitted and perhaps change the purpose for which it is being used.

You may be surprised with what you end up with.

---