The creativity and entrepreneurship at business start-up often just requires more simplified ways to capture information about clients, suppliers, advertising etc. but I have seen examples where after 5 or 10 years in business things start to either plateau in terms of growth or businesses over-stretch themselves and suffer accordingly because they didn’t have the methods to either record or analyse their business data in a way that could help them drive forward.
When you look at some of the products big businesses use, the costs associated with bringing in a system can cause many raised eyebrows, but there are inexpensive off-the-shelf packages that can offer smaller businesses lots of added benefits to analyse;
- Stock movements
- Product/Service sales (best/worst sellers)
- Margin analysis
- Pricing levels
- Target markets
- Advertising success
- Resource requirements (staffing, equipment etc.)
It’s the ability to enable and empower a business to develop through this type of analysis that really does excite me, the possibilities and opportunities can go as far as our imagination allows!