NO.OF EMPLOYEES: 18
The Issue: This optical business consisted of 5 branches and it was difficult for the directors to assess the performance of one branch over another and whether this multiple location strategy was right for the owners going forward.
The Solution:
- We created an individual financial dashboard for each branch which highlighted very quickly which branch was making money and how much.
- Given the owners could not be on site in each branch we used the dashboard to create targets for the team to reach which were reviewed monthly. This built in responsibility and accountability so that the owners presence was not required.
- We have increased net profits here by 15% in some of those branches.
Owners Comments: “We had long suspected that there were some branches performing less well than others but had no concrete information to work from. The dashboard has revolutionised how we manage our business and we now have a very focussed idea on what we want the business to do for us and how to go about getting there in a very measurable way.