From getting a better understanding of your financial position to better managing your commercial property, find a template that solves your unique challenge.
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In a survey conducted by Bloomberg, nearly 97% of respondents reported their companies have adopted analytics. The three most popular goals were the ability to reduce costs, increase profitability and improve risk management.
Every modern medical practice owner has to do two things: provide excellent healthcare and grow a thriving business.
Most physicians have the first part covered - they started their practice because they believe they can offer a higher quality of care than the next physician.
The second part - growing and managing a thriving business?
That’s tricky.
Your ability to stay organized and focused on the most important key performance indicators can be the secret to your success. If your goal is to grow your salon business in the next year, these metrics can help guide you down a clear, concise path.
Traditional real estate portfolio management reports provided by accounting firms include a Profit & Loss Statement (P/L), a Balance Sheet (B/S), and Statement of Cash Flow.
The Profit & Loss shows the income and expenses for any given period, the Balance Sheet shows a company’s assets and liabilities for at any point in time, and the Statement of Cash Flow shows how the cash was utilized for a given period.
The flaw of traditional accounting reports like these, and P/Ls alone, is that they report the facts for a given period but fail to provide any actionable information. What factors contributed to those outcomes?
One of the best exercises you can go through as you initially validate an idea is to go out in public and interview people who would be your potential customers. There’s no other way to get feedback on your concept initially, and one thing that’s way more uncomfortable than talking to strangers about an idea is spending 100’s of hours building that idea, to only find out no one wants it.
To get to the point of being truly data driven, your firm needs to know where you’ve been and where you currently stand in your path to data maturity. It’s important to follow this model because trust is built along this path - it is impossible to make important strategic decisions based on data without trust that your data and systems are reliable.
When I hear about “referrals” I often to think about raffles, giveaways, and other monetary incentives. After speaking with Josh Haymond, partner at VACO, my ideals have changed. Referrals at the enterprise level are more about creating deep, “help me help you” relationships than they are about creating short-term financial incentives.
Managers at nonprofits have a unique set of challenges related to furthering their business while also furthering their mission. Progress cannot always be measured by simple metrics like revenue-growth and grants-made because you’re not really in the business of making money and giving money away: you’re in business to better the world...
What isn’t measured, isn’t managed. While this is true for every business, it’s especially crucial in eCommerce. Why? Because the success of your eCommerce store is largely based on unit economics, and almost everything in eCommerce is measurable.