“Insanity is doing the same thing over and over again and expecting different results.” Anonymous
Of course no one is insane, but let’s look at this: A character in Greek mythology named Sisyphus. He served an eternal punishment for deceiving the gods. He was made to push a large rock up a hill, but guess what? Every time Sisyphus got close to the top, the rock rolled all the way down. Must have been very traumatizing right? Well he was cursed to relive this torment daily; repeating the pattern every time.
Now a quick dive into your business would help, all that work, work, and work, may be casting you in the same role. The difference is that you are not in some ancient myth, and you also possess the power to transform your business and get results for your team. All that work and late hours do not justify anything these days; the results earn you the respect. And that Hard-work myth, well it really has some managers leading employees in the wrong direction.
How do you get results when you don’t even check? You probably don’t know if you are on the right path. Just spare few moments and learn how.
Benefits of Checking Business Results
You Automatically Go SWOT-
Constant checks on your performance clearly remind you of what your goals are, and the loopholes in your strategy. While doing this you start separating the strengths and weaknesses in your style, maybe your marketing team could have done a lot better if they explored the social media well enough. Or the target was not met because there were just too many flaws in your marketing strategy.
What a SWOT analysis does for you is it performs a critical evaluation of your performance. You don’t just do SWOT when writing a business plan, you should always run a SWOT analysis at the end of a preferred period, could be regular, monthly, or quarterly.
You know the Size of your clients- You don’t get into business for the sake of it, but to offer a valuable product. So what’s your business if the knowledge of your clients is based on “I THINK they are about 30”.
You need to know who and what is getting their attention when your sales are dropping. So do your market research quickly. Sometimes efforts are wasted because your competition seems to be engaging your clients well. If you still put carry all your figures and projections on your head and papers, then you need to be reminded this is 2018.
Smart businesses are leveraging on business technology tools to get the “extra” in “ordinary” business results. There are fast cars, smartphones, swift jets, and you think results can’t be quickened? Here some amazing business management solutions which your managers and employees can use to reduce human errors and increase operational efficiency.
Quality of Product & Service-
How do you intend improving the quality of your product and services if you don’t even check? It’s like shooting blind, and bang! You’ve just shot yourself in the foot.
Checking results gives you feedback on what is doing well and what is not. And how do you know if your product is no longer meeting the needs of clients? How do you know if you need to update your branding strategy? Or the quality of your product is just a “no no”?
This is where you check your customers’ reviews and their complaints. Clients’ remarks on your service shouldn’t be messed with; they go a long way in making your brand. So you had better be checking results. Remember, you are in business to give value, and it is measured in quality.
Market Share and Company Financials-
This is the heart of it. Why are you in business if the market shares are dropping on your part but up in your competitor’s favor, or if a glance at your company’s financial performance shows the curve on decline?
Now you see that being in business isn’t supposed to be fun, but that doesn’t mean it should be so hard. What is “hard” when you have “smart”? Checking results saves you a lot of heartbreak because you begin to plan with foresight. A good side to this is that you don’t have to jumble these on a paper, life has gotten easier.
You can set your company’s KPI, access performance analysis anytime and get real-time reports on company’s activities. It’s fine that you read all this, but let’s see how you can get 70% of these done smartly with business management tools from Tosmcube. Click here to start.