“I’m not a numbers person; I’m better with words and making an impression.” As a business owner, you have probably copped to this statement at some point in your life. Mathematics is a polarising subject – either you’re good at it, or you suck.
In the business world, there is no time for a weakness in maths. Things move at a rapid pace and you have to be able to crunch the figures and react in real-time. At least, somebody does.
Below are the reasons why a number cruncher is an essential part of any company.
You will have drawn a line in the sand at the beginning of your journey. Once the company’s cash flow reaches X amount, it’s time to cut back to avoid going bankrupt. Some entrepreneurs will have gone a step further by producing a number they feel is synonymous with failure, also known as filing for bankruptcy. Having it in your thoughts is step number one; two involves tracking the cash flow at various intervals. That way, you can react when it begins to get dangerously low. A number cruncher is the best person to keep an eye on the fortunes of the business and to report back.
Investments are essential as they improve the company. With the right hardware and software, you can make better business decisions in the future. Of course, you need to do it in the present too – there’s nothing like wasting money on a piece of tech that isn’t the perfect fit. Part of the process includes evaluating reviews and word of mouth analysis, but a lot of it is down to your finances. Can you afford it? How will it affect the business if you buy it anyway? What’s the next best option from a financial standpoint that will boost productivity? A number cruncher should be able to provide the answers.
Bosses have power and like to wield, sometimes unceremoniously. When the decision turns sour, there is no time for excuses. Saying “I went with my gut” isn’t good enough because the business’s future, and everybody else’s, is on the line. Using the data that a number cruncher provides, you can make yourself accountable to the whole firm. While it sounds daunting, remember that it’s for the greater good as it prevents you from going off-piste. Plus, you can use the data as an alibi if things go south.
The big data trend is popular for one reason: numbers hold the answers. Once you translate the figures into plain English, you can see customer patterns and use the info to tweak your products and services. However, you have to unscramble the code first, and that’s where a number cruncher comes in handy. Sure, you can go it alone, but you should know that figures are subjective. What you see might not be what an expert sees, and that can set the company back.
You need somebody that can read the Matrix – you need Neo.