Many big Businesses use sophisticated software to implement a Business Intelligence (BI) system. For the small business common sense takes the place of expensive software.
BI is the key to running a performance-oriented organization. BI is used to identify:
- strengths and weaknesses
- measure the progress of the company against its goals
- to employ the skills, processes, technologies, applications and practices that support good decision making.
BI for the small business means making a list of what BI is supposed to accomplish and then applying that list against your company’s performance.
It means taking a hard look at your own performance and making the necessary adjustments to stay on course.
I advocate your being in business for yourself, but never being in business by yourself. Without a business coach/mentor at your side it becomes hard to evaluate your performance. By yourself, it’s easy to find excuses for not sticking to your plans.
Business is like riding a bicycle. Either you keep up your speed or you’ll fall down.
Have a great day!