Unfortunately, most entrepreneurs and business owners don't. Or their businesses would be much more successful than they currently are.
I give you these two Peter Drucker quotes along with their interpretation to help you figure out the answer to the question, what is the #1 Business Mistake you are making.
Which for most entrepreneurs and business owners is this: Your #1 business mistake is that you're running your business blind!
You're not measuring your performance throughout your business, so you can't improve. And worse yet, you don't really know what you should even be focusing on
It's like running around in a maze, and you haven't kept track of where you've been, and you're not sure what to do to get out.
But don't take it personally, virtually all entrepreneurs and business owners operate like this. And that's why business failure statistics are so terrible. As you might know, according to Dun & Bradstreet, 91% of businesses fail within 10 years. And according to United States Census, only % of businesses make it to $1 million in sales. And only % of businesses make it to $5 million. And less than % make it to $10 million and above.
The reason for this lack of success is that these entrepreneurs and business owners are running their businesses blindly. They are not measuring performance, so they can't improve. And they are focusing their time on the wrong areas of their business.
Now the good news is that there is a solution to this common problem of running blind. And it's called BI or Business Intelligence. Business intelligence or BI refers to computer-based techniques used to spot, dig-out, and analyze business data, such as sales, marketing and production in order to make significant improvements.
Importantly Business Intelligence uses the data you already collect in your business. For example, if you have a website, you probably have Google Analytics or another program installed that captures key information like the number of visitors you have to your website each day, where they are coming from, and what pages of your website they are visiting.
And you're probably using an accounting software like Quickbooks that includes information about your revenues, expenses and cash balances. And you might be using a customer relationship management or CRM system like that identifies the number of leads and sales you generate.
And you might be using an email management system like Constant Contact or MailChimp that shows how many email subscribers you have and how often they open or click on your emails.
With the right Business Intelligence system, all the information from these applications and programs you already use automatically and in real-time is entered and analyzed. So you can quickly see, manage and improve your performance.
Importantly, you not only measure performance so you can improve it, but you instantly spot weaknesses in your company. And those are the areas you should focus your attention on. Remember, "leadership is doing the right things" - now you'll know exactly what you should be doing.
Ready to stop operating blindly? If so, check out Growthink's Business Intelligence solution, The Growthink Dashboard , by clicking here and start expertly managing and growing your business.
CJ – Praise God for your commitment to see your marriage through and not quit like so many men do! Just reading your post has been a blessing for me as a husband and father to continue to love my family with that unconditional love just like Christ loves us. He doesn’t love us on conditions that we serve Him, even though this is His will for us to serve Him with faithfulness and gratitude in our hearts… It’s a choice we all make in serving God… this is the same way we need to love our wives, children, family and neighbors… Unconditionally! See you and I can’t change no one, I am sure you know that… but with unconditional love, selfless love, and Godly love you will be an influence and testament to others of what it is to love as a true man of God… Your wife and children are blessed to have you as their husband and father! CJ I will lift you up in prayer in our church men’s fellowship tonight… Be blessed today my Brother….
Eliezer implies that even though he has survived the war physically, he is essentially dead, his soul killed by the suffering he witnessed and endured. Yet, when Eliezer says, “the look in his eyes, as he stared into mine,” he implies a separation between himself and the corpse. His language, too, indicates a fundamental separation between his sense of self and his identity as a Holocaust victim—as if he has become two distinct beings. The corpse-image reminds him how much he has suffered and how much of himself—his faith in God, his innocence, his faith in mankind, his father, his mother, his sister—has been killed in the camps. At the same time, he manages to separate himself from this empty shell. The image of the corpse will always stay with him, but he has found a sense of identity that will endure beyond the Holocaust. As dark as this passage is, its message is partially hopeful. Eliezer survives beyond the horrible suffering he endured by separating himself from it, casting it aside so he can remember, but not continue to feel, the horror.