Analyzing Financial Decisions

“An investment in decision-making improvement may have a higher return than almost anything else a company can do.”

– From Harvard Business Essentials: Decision Making

Businesses are constantly faced with difficult financial decisions:

  • Adding staff
  • Buying buildings
  • Buying equipment
  • Adding locations
  • Setting pricing

Do you know how to do the financial analysis for these decisions to make a good investment?

Even if you do, hundreds of studies show that people are prone to decision-making mistakes. Some examples are:

  • Using a simplistic “rule of thumb”
  • Being swayed by irrelevant numbers
  • Trying to answer a hard question by answering one that’s easier but doesn’t solve the problem

Here are tips and tools to help you make good decisions for your business

Accelerate your success with FAST

FAST (Finance and Strategy Toolkit) is a membership program that gives you access to a massive collection of resources for small business advisors and staff. The right tools save you time, reduce your stress, and improve your effectiveness.

Key Performance Indicators (KPIs) and KPI Dashboards

KPIs are more than metrics. They’re the foundation of your most important decisions. KPIs define success to drive success. This course will explain:

  • How to choose metrics and set targets
  • KPI dashboard tools and tips
  • The process of implementing KPIs
  • Managing and compensating with KPIs
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