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.
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.
Some years, things go really well.
And some years, they do not.
If you’ve experienced a lot of difficulties in your business, you may be tempted to see it as a massive failure:
“What a crummy year! It was so terrible. I can hardly wait for it to be over.”
“The new year can’t come soon enough.”
Even you were not able to meet your strategic business objectives this year, I encourage you to consider the positives that happened, rather than speeding past it.
A company’s margin of profit is one of the most important indicators about its health.
In this second post, I share answers from my live video event including:
- Which numbers should I be looking at?
- What’s the difference between a Measure, Metric, and KPI?
- Are “sales” and “profit” the same thing?
- How do I expand without running out of cash?
This article also jumps into the topics of Transaction Avoidance, Lottery Mentality, and self-sabotage as a business owner.
Watch part 2 of the recorded video here, or read the transcript below (including bonus content!)
In part 4 of our series on Frequently Asked Questions about Company Culture, we discuss leadership transitions, decision-making, and why it’s important to make room for your staff to grieve.
Watch the recorded video here, or read below for bonus-filled content.
What is an employee worth to you?
Not just their ability to generate sales or produce a measurable outcome, but also in terms of the experience they provide, and the emotional impact they make?
How can we calculate the degree of value an employee brings to a company, and what we lose when they quit?
Previously, I discussed ways to increase Risk Intelligence after staff turnover, and how to calculate the financial impact.
In this third segment, I explain hidden values employees provide, the 9 things we lose when an employee leaves, and simple ways to calculate the cost of quality.