This article provides a guide on how to evaluate the overall performance of your business to make informed decisions. Here are some key elements to consider:
- Cost per seat: High operating costs can make it difficult to maintain high unit yields. Ensure that your cost per seat is in line with your unit yields.
- Yields per unit: Low yields per unit can indicate a problem. The average standard yield is around $13, but it's possible to still be profitable with a yield of $8 if volume is high.
- Procedures: The procedures you use are subjective and cannot be calculated like cost per seat or yield per unit. If your debt collection strategies are not effective, your business is likely to fail. Focus on improving your procedures and consider seeking advice from a reputable consulting agency.
In conclusion, analyzing and assessing your business performance is crucial for avoiding any potential issues in the long run. To make informed decisions, focus on analyzing the cost per seat, assessing yields per unit, and checking customer satisfaction scores. If after reviewing all the information, you still feel that there is room for improvement within your company, consider seeking additional guidance from an expert.