STANDSTILL agencies HAVE management information
STANDOUT agencies USE management information
Most STANDSTILL agencies I meet have lots of management data available to them. They have data on financial performance, time utilisation, client profitability, job profitability and client satisfaction amongst others. The problem is most STANDSTILL agencies either don’t access it or don’t act upon it.
STANDOUT agencies review their financial and commercial information regularly (at a set time once a month, every month). They analyse their data and discuss it with their advisors. They measure it against their objectives and benchmarks. They monitor trends and observe patterns. The identify and fill gaps. Most importantly of all though, they take action to address issue and optimise their performance.