Where’s a good place to measure your success?

Monday, 7th April 2014

Categories: Analysis

Surprisingly it’s not just in your profitability.

Success is not all about profit, although without them your businesses will fail, but even with good profits your business could do better if it looked at another measurement.

A great way to analyse how successful your business is to take a long hard look at how many errors are made at various points of the sales, marketing and fulfilment process.

For example:

• How many errors are made in customer data entry?
• What sort of bounce rate do you get when you instigate an email marketing campaign?
• How many complaints do you get?
• How many times do you have to do a job before its perfect?
• How many times do you send out a less than perfect job?
• How many times do you miss deadlines?
• How many times do you run out of time to get a job completed?
• Do you have high staff turnover?

The reason why the above information is so important is that getting the processes within a business working well improves 2 vital aspects that are interrelated:

• Productivity
• Profitability

If your internal processes have fewer errors then your costs of sales reduce and your profits increase.

And at the same time the way you and your business is perceived improves – which in turn results in more business.

Author: Gamze Bilgili