Peerview Data Insights

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I was recently asked by a practice leader at a top 100 firm in the Midwest, “How can you make me a better accountant?”

My response was, “I probably can’t.”

He was a little taken back by my answer. I’m pretty sure he expected me to sell harder to try to win him over.

I went on to explain, “You asking me how I can make you a better accountant is like George Brett asking the hitting coach how he can make him a better hitter.”

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?

If you were in a boat and it had a leak, wouldn't you want to know? Of course you would. The sooner you knew that you were taking on water, depleting and damaging your resources, the sooner you could take action. The sooner you could be proactive in making sure you were doing enough to stay afloat. 

I take the lid off my coffee cup and allow the steam to rush off the surface. I sit across the table from an old friend of mine, she’s almost seventeen years my senior, is one of those really cool and trendy young moms, and owns her own business. She’s telling me about a marketing seminar she attended recently.

It's generally more efficient to be proactive than it is to do damage control. Think of any time you've found yourself stranded on the highway. You're scrambling to call a tow truck, pay the driver, find a mechanic for an emergency visit, and call your boss to say you won't be in "for a while" as you sit in a sticky waiting room and wonder just how much this guy at the counter is going to jack up your prices.

Wouldn't it have been easier to have checked the engine when the warning light came on your dash?

The same goes for your business. The Peerview Data app can help alert you to problems before "bad" gets to "worse," helping you avoid having to damage control or sop up a mess that could have been avoided. 

I would venture to say that when we were younger, we all had that one distant relative who, without fail, gave us gifts that were off-putting. Ugly sweaters (before they were a novelty), itchy pajamas, toys only age-appropriate for birthdays long past, etc.

It was hard enough to grin and bear it through the initial ripping of the wrapping paper and eventually it got to the point wher you just began to dread the gifts. Why? Because they weren’t what you wanted. They didn’t suit your specific taste, needs or personality.