How to get back on the path of growth?
We must be able to define what business model we are aiming for, what are the objectives we want to achieve, what audience or market we want to “conquer” and all this in how much time, among other factors.
One control panel It is nothing more than a tool that allows us to monitor the general functioning of our company or venture. It also facilitates the rapid detection and diagnosis of any anomalous situation that may occur during the development of the management, facilitating its urgent repair and return to the previously set course.
To achieve a successful implementation of these dashboards, certain fundamental parameters must be clearly established beforehand, without which we would not know exactly what we want to monitor. First of all, it must be clearly defined, what business model we are aiming for, what are the objectives we want to achieve, what audience or market we want to “conquer” with our product or service and all this in how much time, among other factors.
At this point I want to pause briefly to emphasize the importance of clearly defining these parameters. There is no point in establishing a business model, goals and objectives that cannot be met. Everything that is proposed must be clear and specific, sensible and realistic, measurable and taking into consideration the structure and resources available, the latter both human and economic.
Although there are common indicators for all companies, each one requires definitions tailored to its own parameters.
Once these factors have been determined, it will be necessary to define who and how this information will be monitored.
The control board is a tool that can be applied in any type of organization, regardless of its sector and size. Whenever there is a goal to achieve, it is possible to monitor the path towards it through specially designed control panels adapted to the needs of the case. Constant monitoring and diagnosis make it possible to evaluate the status of a series of indicators and compare them with the established objectives. In this way there will be clear knowledge of the general situation, minimizing the probability of error.
As we mentioned previously, each company has different and specific needs, which is why it is very important that the control panel is designed to suit its specific requirements, in order to make the most of the available functions and optimize the results of this tool. The most frequently required indicators may be of order financial (profitability, return on investment, etc.), quality (claims, amount of returns, etc.), production (equipment efficiency, etc.), logistics (transport, inventory rotation, stocks, etc.), from seasonality (moments of lower or higher activity), in short, everything that is measurable and important to carry out and grow the company.
In the words of Peter Drucker, “You can't manage what you can't measure.” And managing is precisely what the entrepreneur does most of his time. You must constantly make decisions and for them to be correct, they must be based on key and concrete indicators. That is why it is so important to have a good control panel that provides you with the necessary information.
The only way we can know if our company is growing is by having access to constant and permanent information.
As we have already mentioned, the implementation of control panels is highly advisable, regardless of the size of the company.
In the case of SMEs, it often happens that as their growth occurs, the entrepreneur must move away from day-to-day operational issues and dedicate themselves to making more strategic decisions. Many of our clients find themselves in this situation when they consult us for the first time. Without a doubt, with a dashboard at hand, which has been permanently updated with genuine and reliable information, you will be able to make accurate and effective strategic decisions. Furthermore, when emergencies occur, whether operational or financial, the importance of being able to take urgent and concrete actions, having all the updated information at hand, is evident.
Finally, like any tool, the implementation of a management dashboard will be successful, as long as it is used appropriately and the information collected is used correctly for the benefit of the company and always aiming for its growth.
