Business Statistics - Know Where Your Business Really Stands
Business Statistics give you bearings on your business. You can determine changes on a weekly basis to help you with your decision making.
It's vital that you track the correct statistics. The idea is that if you raise each one of the statistics, you're raising the overall statistic of your business. That will probably be net profit after taxes.
If you're tracking the wrong statistics, your heading for ineffective actions.
You track statistics measuring each one of the sub-products that combine to produce the overall product of your business.
To do this you'll need:
- A mission statement for your business
- Definitions of each one of the products that lead to the overall product of your business
- Definition of how all this fits together
- Statements of the ideal situation for the expansion of each of the sub-products
- Measurable statistics quantifying the creation of each of the sub-products
Kitzmiller Marketing Systems can help you create a mission statement, an org chart, and a coordinated list of all the pieces that work together in harmony.
You'll probably want to start with a good needs analysis.