Many otherwise-savvy business owners and executives become victims of “The Holy Grail Syndrome” – the illusion, or delusion, that their most pressing business problems can be remedied if they just hire the right consultant or business service.
We wish it were so.
Yes, there are many capable and effective business counselors who can bring experience and skills to bear on your complex business issues. We consider ourselves two such experts.
But in real life there is no “Easy” button – or magical fix-it professional – who you can call in when your business faces significant obstacles to quickly remedy all your significant trouble spots, as if they were leaky faucets.
In fact, in working closely to bring about lasting, positive change at hundreds of businesses, we’ve identified at least 10 specific components that every business ownermust measure and track in order to affect meaningful and durable business transformation and advancement.
A better website or enhanced search engine optimization process alone won’t do it. A new salesperson or sales manger can’t provide the full solution. Better marketing materials, in isolation, are no panacea. Ditto for better training of your staff or arbitrarily slicing overhead.
The real solution lies in an effective choreography – a business “weave” – that intertwines objective components that can be tracked, tested and analyzed to achieve three synergistic goals: increase revenues, decrease expenses and attract the most profitable new customers/clients.
Many businesses have the answers they need near at hand, they simply don’t know the methods in which to take their conventional bookkeeping and data functions and transform them into a consistent stream of actionable, profitable business intelligence.
When the professionals at LoomView are retained to revitalize the operations of a business – including those concerns that are already doing well, but dream of achieving more – the first step we undertake is to make certain the owner and/or key executives know their key numbers and metrics. If you don’t know where you are at the beginning of the journey, it’s impossible to map an effective route to your ideal destination.
An easy first step is to visit our website, www.LoomView.com, and complete our free and entirely confidential online scorecard. In just minutes, you’ll have a useful benchmark of where your business now stands and where the opportunities are to improve it the most.
The next step would be a business intelligence assessment of the 10 key components in your business:
- Lead generation
- Lead conversion
- Average dollar sales
- Gross profit margin
- Number of transactions
- Cash flow
- Key Performance Indicators
- Budgeting and Forecasting
- Leverage opportunities
If you are not familiar with these terms – or think they are measurements only your bookkeeper need concern him or herself with, we think you’ll be amazed at the vast (and often hidden) wealth of business insights they hold.
It makes no difference what industry you are in or how large your business is. If you can attain a mastery of these and related key performance indicators, you can identify your business’s unique shortcomings, its best and most immediate opportunities and – importantly – effective pathways you can follow now to achieve unprecedented results.
When you have just such a road map in hand and it is built upon empirical intelligence – not approximations, instinct or guesswork – you can then identify the outside services or experts, who working alongside you, will help bring about your business dreams.
It is not unrealistic to anticipate that you will double your profits in 2013 if you’ll join us in implementing LoomView’s simple, proven approach to business transformation.
[In future columns, Jeff and Jake delve more deeply into the key components and indicators that every business owner can measure, analyze and put to profitable use.
Hear Jeff and Jake discuss “The Holy Grail Syndrome” on The LoomView Business Intelligence Report, with former Wall Street Journal editor and columnist Dean Rotbart.] LoomView Business Intelligence Report is a regular column in the Small Business Drives America™ action newsletter.