From a sports car to an aircraft to a super tanker, successful operation depends upon the pilot’s understanding and urgent, timely use of a dashboard. Real time information is critical to real time decision-making, and increasingly in the modern business world, decisions are made by management without extended meetings or discussion with others.
There are a number of key performance indicators that help new generation company management see more clearly their progress and corporate health. Here are some of these measures, and how to calculate them. You will recognize the value of these for any business, even if they have not been in common use in the past.
A recent Avaya study showed that 66% of customers will STOP spending money with you if your service is inconvenient. The study further points out that what is truly at stake is the lifetime value of that customer. If a customer feels that an experience is low effort and efficient, they appreciate it.
Much of workplace safety is common sense. But there is a natural tension between economy of operation and provision for safety for employees, and the resulting risk to the enterprise must be carefully weighed.
Every business must have payroll in some form or other. Traditionally, payroll has been one of the most outsourced processes in the business world. But despite the number of solutions available, the choice boils down to a simple dichotomy—keep your payroll in the hands of in-house administrators, or outsource your payroll to a traditional payroll service.
The ability to transfer data quickly is one of the objectives of fiber optics cabling. One of the latest discoveries suggested that the use of glass-less fiber transmission can enhance speed. Data transmission is significant to any organization. Although fiber optic cabling has been a traditional method used in transmitting data, research demonstrated how glass-less fiber optics address some of the limitations of fiber optic cabling.
Small businesses succeed, in large part, because of entrepreneurs’ efforts to minimize costs and increase efficiency. Unfortunately, too many business owners become complacent in their daily operations and forget to actively search for the best deal.
Lean has huge traction in about every part of organizations except for sales and marketing. But if you really understand Lean, it becomes compelling for sales and marketing, purely because of the clarity, focus, and simplicity it drives.
Here is a simple economic truth. Fixed overhead continues to eat into your cash month after month. It doesn’t differentiate facile, efficient businesses from slow, disorganized, quality-challenged ones.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.