Running a business is like flying an airplane: there are lots of buttons and levers and you have to know which ones to use at the right time. Now imagine trying to fly the plane blindfolded. That’s what many business owners do every day if they don’t have simple business metrics available. Many of the biggest and most successful businesses use metrics as a key tool to drive their success.
Metrics don’t have to be complicated to be effective. Good metrics should be simple to produce and easy to maintain. A good example is the dashboard of your car. It has just a few key indicators with easy to understand colors and gauges. In just a moment you know if there are any problems. Business metrics should be the same way.
Designing and implementing a simple, sustainable metrics system is something a good CFO typically does, but many growing businesses simply can’t afford to hire a full time CFO. That’s when a Fractional CFO can add tremendous value. Call Scott Abels at 512-673-3530 or visit PrecisionCFOSolutions.com if you would like to learn more about how to use performance metrics in your business.
Take off the blindfold and start running your business like the big guys.