Each day thousands of new businesses get started and thousands end. Is there a karmic force at work or simply set of some rules which can be followed to reach the top? Or both?
I guess both makes the balance possible. But one thing that is common in every successful organisation is that, they know their competition better. And they always try to stay ahead in every way possible. Most of the young businesses doesn’t recognize the need of understanding the basic technology and resources that their competition is using and that is one of the many reason they fail.
To stay ahead you need not to work hard, you need to work smart. Another very important point that young businesses overlook is workflow and performance metrics. To get ahead the first evolution process every organisation should clear know what they have and what they can deliver. To know this they have to understand how their business is going? How their business is performing over a week/month and lots of other smart insights.
So how to get smarter insights to understand your business better?
Like you use Project Management softwares to manage projects and Financial Management softwares to manage finance. You need a business intelligence tool. To start with you can use a solution which gives you insights on how individual employees and teams are performing in your organisation. Most of you may think this is useless and is not as much important, but it is. You can only perform when you know what are your weak points. Its same like playing a sport and playing a sport professionally. When you want to play professional small details matter.
- Analyze your core business elements periodically(employees, departments, teams etc)
- Use proper tools to manage and increase performance.