Big companies are all about “bigger, faster” but what about the entrepreneur, don’t they want to get “bigger, faster” as well? Of course, but it is crucial for the little guy not to make a mistake. As little guys, our assets and therefore our companies rely almost entirely on sound judgement. The big guys can afford to follow an idea to its logical conclusion even if it costs a million dollars because they can afford to lose that amount of money and still survive. But, as little guys we must be nimble. We must be able to move quickly and change course on a dime if we need to and that ultimately becomes our biggest advantage.
So, we need to know what we do well and constantly measure our successes and get better and better at doing what we do best. If we take measuring improvement seriously we can know when is the best time to hire the next employee or when we need to build our own office building. That is a big statement but all of those decisions are easier when we keep track of what we do well.
I have been in high level meetings with a Fortune 100 company leadership team where they were deciding how to dominate everything about their industry. They were going to set up all their own supply chains, their own transportation company, their own financing company, etc. etc. They had the money set aside to do it, their stock was performing well and they were the big dogs. There was only one naysayer among the entire group. It just so happened that it was their Wall Street Analyst. He calmly explained to them that if they followed that plan, their stock price would take a big hit and potentially never recover. They scrapped their plans of world domination and went back to their core business expertise. They are still thriving today just by doing what they do best, better!
Measuring improvement assumes you are improving but how do you know? Do you know your own company metrics inside and out? Let’s face it, most small entrepreneurial companies are happy to make payroll and if they have anything left over then it is a trip to Hawaii. But, what if you could know where you stand financially every day on all your key indicators? How efficient your employees were that day? Are we going to make the targeted profit margin on that piece of work? Do we have enough materials in inventory or too much? Are we going to meet our delivery date? It is questions like these that spawned the development of Modius 360. Now there is an affordable software solution to make sure you understand the facts about your business. All of the information you need in one place. Measure improvement and everything else will fall into place.
Call us at 801-810-9844 or visit us at www.modius360.com to setup a free trial.