The Right Information Is The Key To Your Success
Finding your competitive edge ...
POSTED BY KATHERINE ROBERTSON ON 12/07/2016 @ 8:00AM
Your own data and financial records can highlight very important information which, when used effectively, can help to drive your business forwards and be the key to your success ...
If you want a competitive edge then the right information is the key to your success!
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The challenge for most businesses is how to gain a competitive advantage. This is particularly important because of what it leads to, which is sustainability, larger profits and scope for future growth.
"JVCA can help you to identify and exploit this competitive advantage!"
So why do most people run a business? Well, there are many different reasons, including self-fulfilment by achieving your goals and reaping the rewards of your hard work. And this is why gaining a competitive advantage is important, because having the business you want means that you can create the lifestyle or legacy you want.
Bill Gates said it best, "The most meaningful way to differentiate your company from your competitors, the best way to put distance between you and the crowd is to do an outstanding job with information. How you gather, manage and use information will determine whether you win or lose."
There are a number of factors that can help you to achieve a competitive advantage, such as; good products, great customer service, excellent relationships with you customers and most importantly, the quality of your own information.
There are a myriad of insights that can be taken from your information. Often getting the right and insightful information is the key.
So how can JVCA help you? Well, we can benchmark your data against other companies in your industry or sector to compare costs and prices to see how you differ.
We can work with you to identify and monitor key performance indicators. These KPIs can include financial and non-financial data which are specific to your business, examples are:
Key Performance Indicators can help you to understand your business better, allowing you to work smarter instead of just harder. In addition, we can track them for you and then work to improve different product/service profit margins. This information can also be used to influence marketing strategies and future product/service development.
JVCA can verify your data and after consultation with you, produce bespoke reporting containing information that is useful and important to you. Once your key indicators are identified, this gives your company key objectives to focus on to increase profitability and improve your competitive advantage.
"Does having regularly updated KPIs and key objectives sound like a good idea for your business?"
I'd love to talk to you about it on 01234 752 566 or you can send me an initial email enquiry and I'll answer any questions you may have. I look forward to hearing from you.
Until next time ...
If you're looking for a new accountant to help grow your business, do visit www.jvca.co.uk and discover how Jonathan Vowles Chartered Accountants can help you!
I started my career at Santander and have worked in many different sectors including banking, charity, marketing and now accountancy.
I am passionate about using financial information and producing useful reports that can help build and improve businesses by understanding their numbers better. I have an honours degree in Economics, I am AAT qualified and am currently part qualified CIMA (Chartered Institute of Management Accountants).
Most of my spare time to taken up transporting my children to various sporting events and walking our two lovely (but slightly crazy) dogs.