Do You Run Your Business With A Blindfold On?

getty Do you know every day the profitability of what you do? Are you sometimes unsure whether your product is profitable? Would you like to have a control panel showing you what is happening in your company to help you make the right decisions? We drive a car and regularly check the control panel, yet we manage a company without paying attention to any indicator that shows us what is really happening. So are you driving your company with a blindfold on? After having worked in mentoring programs with many companies from different sectors and countries, I find that, in general, they do not have a control panel or dashboard, and if they do, they make poor use of them. When running a company, you should have some basic indicators that can be analyzed on a daily, weekly and monthly basis, depending on the case. Managing by intuition and without reliable data can lead you far from reality and cause you to take unnecessary risks and experience a loss of profitability and competitiveness. Therefore, you should define these parameters—which must be simple and very practical—to make the next step, which is reading and diagnosing the situation. Once this diagnosis […]

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