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Peerview Data Insights

Are You Swimming Naked?

Warren Buffett has this great quote: “Only when the tide goes out do you see who’s been swimming naked.”
 
It's memorable thanks to the folksy, Omaha phrasing, but it also gets at a something most companies don't want to think about, let alone understand and address: they could be a lot more exposed than they should be.
 
It's easy to understand how this happens — just keeping up with all the other "swimmers" in your industry can max out available resources.
 
The unfortunate flip side is that if the world's most successful investor built his fortune on anticipating the tide and then either cheaply acquiring companies that were swimming naked or doubling-down on those who weren't, making sure you're wearing more than your competitors should be a priority.
 
(While you can certainly analyze your competitive strengths and weaknesses yourself, there's a good argument for outsourcing this kind of assessment to a trusted adviser like a CPA. See Why You Should Share More Of Your Business Data With Your CPA for more.)
 
The good news is that whether you're "naked" because of high customer concentration, excess debt, stalled growth, runaway costs, or anything else, there's usually a logical series of steps you can take to "put on a suit" and minimize your exposure.

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Find out of you're naked. Our Competitive Analysis & Benchmarking Tools are built to give data-driven companies better insights.

Click here to see what they can do for you.

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Topics: Analytics big data Benchmarking CPAs Accounting Trends Accountants Competition Warren Buffet