Perhaps one of the most underutilized tools in business is the use of analytics. Without knowing where you are, progress is almost impossible to measure.
While measuring your bank account balance may be the best measurement of business success, it is vastly inefficient. If you don’t measure and pivot your business on the key indicators that predict success, you make up one day and find your bank account empty with no understanding as to why.
As your business grows, it will naturally get more complicated. To the extent that you know your numbers, decisions will be made easier and with exponentially more confidence.
Ask yourself what your key metrics are and how to keep them in front of you. Your decisions will become easier and your resources will be allocated more effectively.
Rate yourself on a 1 to 10 scale, 10 being the best. How effective is your organization at utilizing analytics? How can you do better?