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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Analyzing Profit Margins FAQs Part 2: Profitability

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 AvoidanceLottery Mentality, and self-sabotage as a business owner.

Watch part 2 of the recorded video here, or read the transcript below (including bonus content!)

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How to Estimate the Qualitative Loss From Staff Turnover

 

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.

Continue reading “How to Estimate the Qualitative Loss From Staff Turnover”