If you are a labor-based organization, you know that your people are your “product,” and investing in your staff is critical to ensuring long-term success. That said, we are all special snowflakes. We all contribute; both those contributions are not equal across the board. So how do you know who is successful and who isn’t? The truth is, you have to look at your numbers and do a lot of thinking and reflection. The numbers are a critical first step to understanding what is happening – who is billing the most, why are they the most productive … and conversely, who is billing the least, and what are their obstacles to better billings?
This initial step will force you to define your expectations more clearly … and review how you are assigning work, billing your clients, and managing your staff’s time. Understanding this fully does not dictate any particular decisions – it is simply an exercise in being clear and intentional with your decision-making.
I’ll give you an example – at ZümiFi, this analysis revealed that my highest-paid employee was working on some of our least profitable accounts. Is that revelation her fault? Of course not! But that information is vital to examine how we are running things here internally – why does she have those assignments? Is that something that could be changed? Why are some of those assignments the least profitable? Is that something we can change? Looking carefully at your numbers doesn’t mean anything is wrong or you have to take any particular actions in response to those numbers. It’s just vital information about your business. And in this case, like all others, you get to decide what to do with that information. Numbers open doors to further inquiry … so don’t avoid your numbers. Look at them. What are they telling you? Lean in. Make your business better and stronger.
Succeed on your terms because you get to decide what you wish to do once you know what you know … so look at your year-to-date numbers now!
Review your YTD financials – what trends do you see? Not sure? Give ZümiFi a call!