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Bad Data is Killing Your Profit!
Some decisions we make have a hidden cost that we never think of. MIT/Sloan estimates that the cost of bad data equals 15-25% of total revenue for most companies. As the progression below demonstrates, bad information starts with bad data:
Ready to Hop On Your Confidence Carnival?
Confidence is something we all struggle with. I mentioned self-limiting beliefs that are in your head and mirror. New can be scary.
BUILD CAPABILITY TO BUILD CONFIDENCE
Senior business leaders face the widest variety of confidence struggles. Here are five that weigh heavily on anyone in the corner office:
Are You Happy You Made $1 Million?
The difference between those emotions? Your plan. If you didn’t have a plan, you got lucky!
WHY EVERY BUSINESS NEEDS A CFO
Reigniting the Magic
Data2Profit is almost 5! As I look back, I can’t help but reflect on what a journey it’s been! Over the years, I’ve had the privilege of working my magic with various businesses across all kinds of industries. But I realize every client has three things in common…
Even the Cost of Dirty Deeds Has Soared!
There’s nothing funny about inflation, but at least one business has kept its sense of humor. More importantly, they adjusted prices and set new expectations with their customers!
Some Numbers Are More Important Than Others!
All numbers are not created equal. And some... are much more important. As much as I love talking business, today I’m asking you to think about some very different numbers, with very different consequences…
I want what is best for you!
From our backyard wedding to the outside world, “I want what is best for you” can these days seem hard to find. The news and social media endlessly highlight the political extremes, soaring crime, social injustice, and divisive court decisions.
Broken Record
The economic news is not getting better. Inflation hit another 40-year record. The Fed hints at a .75% rate hike. Stocks are in bear market territory. Inflation may not have peaked yet, and the prospects for a “soft-landing” seem to be fading.
Why do you do what you do?
Connecting today to your future requires a longer-term perspective. While we all dream about life in retirement, most of us aren't great at actively preparing for it. Consider this: 64% of Americans either don’t think their savings are on track or aren’t sure…
Does Your Company Use Accounting, or Just Do Accounting?
After understanding their situation and asking a few questions, we agreed on a six-session introduction to business financial management. Each week they will invest in 2½ hours of in-person training + homework exploring
It’s so hard
We have all screamed that more than once, usually when technology or information fails us. Have you ever had an experience like this?
Close the Gap Between Your Conference Room and the Street
Can you tie your company’s conference room strategies directly to the physical reality of the street?
In other words, do you know how you grow? It is a pretty simple question with a pretty simple answer.
Don’t go forward by only looking back
My silly question for today. A car pulls up. Mud streaks the entire windshield. But the driver assures you, “No worries! I have my rearview mirror!” Do you get in?
WHAT RISK ARE YOU AFRAID TO TAKE?
I jumped a month ago and found myself dancing on stage. Blindfolded. In front of 100+ people. It was a 60 second dance-off between four people. Most of the audience was much younger, so my first thought was “don’t be lame!” Still in at 40 seconds, I was thinking “I will not lose!”
Who is your answer person?
My wife, Tina, was in full CEO mode this weekend. As we were getting ready to explore 50 ice sculptures in downtown West Bend, WI, she asked what it was like outside.
It took three tries to get the answer she needed. She didn’t want a directional ‘really cold’. She didn’t want the air temperature. She wanted the ‘feels like’ temperature with wind chill. Like a true business leader, she wanted the best info possible to make a decision!
Numbers guide your journey. We guide you.
NUMBERS DICTATE OUR LIVES.
Think about it, your weight and time of birth were among the first facts about you! In a world awash in data, everything about you and your business is being measured, analyzed, and turned into information.
Data2Profit is celebrating our 3rd Year in Business!
When our website went live in October 2018, I had 25+ years of financial and business analysis leadership, and just finished a successful engagement through another firm. “I can do this myself!”
Dig Deeper
Dig deeper. It’s how you’ve been dealing with Coronavirus disruptions. You’ve already explored the various loans programs and have teams working remotely. You’ve adapted how updates are shared with your people and adjusted to a work/life balance that is now just… work/life.