Doing a Post-Flight Check of Your Business

The pilot skillfully descends, hits the tarmac smoothly, and taxis to the hangar. What happens after the plane lands?

Rest & relaxation would be nice, but pilots always do a post-flight inspection of their aircraft. Not only do they make sure that everything is in working order, they also inspect every system for signs of possible malfunctions that could affect the next flight.

Business owners can avoid potential loss or harm by conducting both a Pre-Flight Check of events or projects yet to occur, as well as a Post-Flight Check. Let’s take a look at what you can do once a project ends. 

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Completing a Pre-Flight Check of Your Business

An airplane pilot has the responsibility to conduct safety inspections—both before they take off and after they land. Diligent maintenance checks can help to avoid things going wrong: equipment failure, accident, injury, or a catastrophic crash.

Before launching a project or initiative, risk intelligent business owners can identify potential vulnerabilities by conducting a Pre-Flight Check. This evaluation can reveal valuable information that is both quantitative (numbers) and qualitative (experiences and sensations).

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15 More Places to Look for Strategic Risk in a Company: Qualitative

Quality is much different than quantity. It includes sensations and feelings from interviews, discussions, and narrative stories that are difficult to turn into specific numbers.

Although it takes more time to collect, qualitative data is extremely helpful because it provides a depth of understanding about very complex problems.

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20 Excellent Places to Look for Strategic Risk in a Company: Quantitative

There are many places to look for signs that something in your company needs to be adjusted.

In this post, I’ll share 20 different places where your business can look to avoid a potential catastrophe. I also explain how to evaluate these sources for vulnerabilities, and which questions to ask.

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Interpreting a Mixed Method Data Evaluation in Your Business

In addition to reviewing hard numbers (quantitative) and experiences (qualitative), the Mixed Method combines them both. This approach offers extremely valuable insights about what could be going wrong in a company.

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Interpreting the Qualitative Data (Experiences and Emotions) in Your Business

Numbers alone don’t tell the whole story. In addition to Quantity, we also need to look at Quality such as feedback, interviews, case studies, and narrative analysis.

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24 Ideas for Multiple Income Streams That Will Boost Your Profit Margins

Whether you sell service, products, or both, it’s likely that are missing several income opportunities for your business to generate even more money.

In this article, I share 24 different sources of revenue that can augment your profit margins.

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Interpreting the Quantitative Data (Numbers) in Your Business

Do you hate reviewing your business financials? If so, you’re not alone.

In this article, I’ll explain:

  • the difference between quantitative and qualitative data,
  • where to collect the data,
  • an illustration that demonstrates which questions to ask, and
  • how to use it to make risk intelligent decisions.

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How to Understand the Quantitative and Qualitative Data in Your Business

Are you wondering how to tell the difference between data that are based on numbers (quantitative) and those based on sensations and experiences (qualitative)?

Many business owners find it difficult to make the distinction… which can lead to frustration, overwhelm… and eventually to a business that is vulnerable to threats that could cause irreparable harm.

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6 Resources That Can Help You Analyze the Past Year

How well did your business do this year?

Answering this question can bring up a lot of emotions, especially if things did not go as expected. You might feel the pressure of setting end-of-year deadlines. Looking back can result in guilt if we didn’t reach our goals, or anxiety about setting new ones.

Many business owners feel a tug-of-war between accomplishing daily duties AND stepping back to see the “30,000-foot view” of their company. But even though it can be really scary, doing a Year In Review is very helpful.  That’s why I recommend taking time to look back at what happened using data that is quantitative (numbers) and qualitative (experiences). Once you review the results (good and bad), you reduce the risk of failure by making adjustments to your plans for the next year.

Here are six helpful resources to guide you through the process.

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