Andrew Smith, Founder | MD at ZenSmart, explains why most businesses run on averages—and how hidden inefficiencies might be costing you more than you think. Discover why granular, real-time data is the key to smarter decisions and better margins.
Transcript
Am I making the right profit? It’s a question that every business owner asks. We all strive to do the very best we can every single day, making continuous improvements in our business, but the reality is that we work with imperfect knowledge. We don’t really know whether the cost structures we’ve built and the methods we’ve created are delivering the very lowest cost of goods, while still hitting the quality and time frames we need to achieve the best possible result for our business. The best solution to this challenge starts with information, making sure that you’re collecting as much data as possible around how the work is done, who is doing the work and capturing costs against every activity in your process. Because the reality is that most businesses run on averages. They look at the overall result and assume that the sum of everything is working as it should. What they don’t see is the individual parts, the specific processes and tasks combined together to create the result. And inside those individual pieces, there might be huge variances that are dragging performance down. If you’re looking to build the capability to really know where to steer your business next, the starting point is data. It’s about having a clear eye view of really knowing what’s going on and not relying on averages. If you need a hand in working through those issues and finding that deep insight, reach out, speak to us. We’d love to talk with you about it.
