What do Blockbuster and Borders have in common?
Companies like Blockbuster and Borders couldn’t match the lower prices or service of online retainers so they filed bankruptcy. Being a successful business owner means you know how you compare to your competition, what makes you different, you know your profit margins by revenue segment and you are on top of your collections. This knowledge of financial metrics is important to a business’ success. Many business owners say, “I don’t have time for that” or “I don’t know how to measure my business.” Companies like Publix Super Markets or Starbucks continually maintain a pulse on their competition and their customers’ interests. Know your competitors and your customers so you stay current with what your customers want from you and what they are seeing elsewhere. We can help business owners determine their metrics and measure them to ensure continued success.