Peerview Data Insights

We know in the digital age there is a sense of urgency to try to do everything yourself. Many business owners — especially small business owners — find themselves unwilling or unable to share responsibilities with those who aren't directly in their business. 

Spring has sprung! Flowers are starting to bud, the temperatures have (semi-consistently) started to rise, and the grass is turning green again. New beginnings and growth are everywhere.

Sometimes it's necessary to look at the "what-if" factors in a situation. While we don't recommend indulging in this thought process while boarding an airplane, it's a good idea to consider some scenarios when it comes to your business.

The world is constantly changing, especially in the world of technology. While trying to manage your business it can be hard to find the time (or to even want) to learn all the things you need to know to track and analyze your company’s data. You have other responsibilities and concerns on your mind, employees to tend to, clients to communicate with. In all honesty, managing the constant technological advances that are forever making themselves available shouldn't have to be on your radar. 

When I was younger I used to work at a summer camp. A friend and myself were the leaders of the games station. As we planned out how the week would go with each team. We developed times for each game, set up breaks for snacks and water, wrote out instructions (that, to us, made sense), and got a sticker chart system together.

Here at Peerview Data we talk a lot about analytics. One thing we like to emphasize is that comparisons can often reveal unexpected differences. That point was made clear the other day when our building had a Girl Scout cookie tasting to showcase the difference between cookies... that were actually the same cookies, only with different names and some of them with more intense notes or flavors than their counterparts.

 The act of comparing yourself to others is usually an unhealthy mindset. In the case of your company and your company's gross margin, however, comparison can be a very good thing. Tracking how your company is doing compared to your competitors can help you gauge where you're at and why compared to others in your industry. 

When you first started your business, you had a goal in mind. You wanted to produce your product or service, create a loyal client base, and hire x amount of employees. You wanted to give your customers and employees an experience. You wanted to go the extra mile. But maybe, as you find yourself trying to do that, you're finding that it's hard enough to keep everything afloat, make all of the necessary decisions, go the extra mile, and juggle your normal life? Sound a little too familiar?