A Crystal Ball For Your Business
Let’s play the part of Devil’s Advocate for a moment. If the guests travelling to Hamilton Island knew the impact Cyclone Debbie would have in advance would they still have travelled? Similarly, if Bulldog’s fans knew that their team would fail to ‘make the eight’ in the 2017 season, would they have still paid their memberships at the beginning of the season (I know I would!).
There are arguments for and against these above situations; however, it would be safe to assume that in at least one of these the results would be very different. What if you had a similar insight into decisions or scenarios in your business? A crystal ball for your business, so to speak. This isn’t as farfetched as it sounds.
An analysis of your business broken down into a unit measure basis is the crystal ball you have been searching for. In a very simplistic view of this analysis comes from a very simple question – ‘How can I draw $5,000 a week from my business?’
Now the $5,000 amount above is irrelevant to the overall question; by completing the analytical process down to unit measures the answer will flow from there. The influencing part of the business isn’t the weekly drawing, it is the number of products or services that are needed to be sold. If the number of products or services is known, the end result will be the outcome. This is the crystal ball many business owners and managers are looking for.
This process isn’t specific to one type of business either. It is a process that can be applied to any business and can be measured very easily on a daily basis. From a mechanic’s perspective, how many services do I need to complete. From a builder’s perspective, how many houses must I complete. From a Fisherman’s perspective, how many fish must I sell.
It’s all about knowing the impact of your decision before you actually make the decision. Wouldn’t that be a powerful tool in your business.