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3 Decision Making Tips for Growing Business Owners

by Cherry Hidjaja

Being a growing business owner is not easy. Growing business owners wear many hats and while they are not required to be an expert at everything, they need to be informed and stay in control of the business’ entire operations so that they can further grow their business.

Part of staying in control of their entire business operations involves making decisions on a daily basis. Some of these decisions may be big or small, but making one wrong decision could be detrimental and costly to the business.

Here are some tips on how to make informed decisions faster and more effectively so you can take your business to the next level:

  1. Get clear insights on your business data.

Data that is held in disparate tools or repositories hold little value, and making conclusions based on this type of data will lead to flawed decisions based on incomplete data sets. A single data repository allows you to quickly pick up on important information and trends from all areas of your business.

  1. See your business in real-time.

Not many business owners are aware of the potential value in tracking information in real-time. When you have access to real-time data, you will have a greater understanding of what’s happening with your resources, whether it’s within an office or on the production floor or in the warehouse. This allows you to accurately estimate delivery time, identify potential bottlenecks and ensure efficient productivity at all times.

  1. Make decisions anywhere anytime.

Your business shouldn’t be put on hold because you’re out of the office. Whether you’re away on a business trip, at a business lunch or anywhere in between, having real-time data at your finger tips allows you to make decisions on the go. You may even impress your stakeholders or clients with what you know during a game of golf.

From cash flow to profitability, it’s important to use tools that give you immediate insight into where you are and how things are tracking. These abilities are something that SAP Business One does powerfully and allows you to trust the data in your management software so you can focus on running your company.

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