How Radical Visibility Can Grow Your Business

Hey there!

Welcome back to the JS Analytics newsletter.

In the next two editions, I want to go into more depth regarding what benefits JS Analytics provides to owners and investors of direct-to-consumer (DTC) service businesses.

Today, let’s dive into the first benefit, what I like to call: radical visibility.

Radical Visibility

So what is radical visibility?

Radical visibility is knowing exactly what’s happening in your business & why.

Your data is the key to achieving radical visibility because it provides an objective look into what’s happening behind the scenes.

You may feel like you have a good pulse on your business, but gut-feel only gets you so far. Without objective measures, it’s hard to pinpoint what’s working, what’s not working, and the impact various changes will have on your business.

For example, many business owners can tell you they have a low cancellation rate, but wouldn’t be able to give you their exact cancellation rate, how and why it fluctuates week-over-week, and quantify the impact of different rates on their business.

How do we provide radical visibility?

You’re probably collecting (or could collect) a ton of data. And lots of data = lots of things you could measure.

But just having data doesn’t mean it’s accessible or useful to you.

So radical visibility is really about distilling your data down into the most meaningful and actionable insights.

If you have the data but it’s not organized in a helpful way, it’s virtually useless.

A major deliverable of JS Analytics are the dashboards we provide. There’s a lot we do when analyzing and sifting through your data, but for now let’s focus on the dashboards.

The dashboards function as the filter to show you only the most relevant data for your business decisions. Whether you’re an investor or a founder, we work with you to determine what data will be most helpful for you to monitor to grow your business.

Once we’ve determined the most relevant metrics to your business for its stage and your goals, we make sure those data points show up in your dashboards. That way, with the massive amount of data you have, your time is only spent on what truly moves the needle.

Visibility of What?

Okay, so you’ve got radical visibility. But what kind of data do we focus on?

We work with you to determine what’s most important, but generally, we focus on two areas to help you understand business performance:

• Growth

• Efficiency

For growth, we look at how your business is changing, comparing historical trends to current performance. Metrics like number of leads and customers, and revenue indicate in which direction your business is moving.

Efficiency is focused on how well you’re converting inputs into outputs. That is, are you using resources in the best way possible to produce desired outcomes. Metrics like lead to customer conversion rate and average revenue per customer give more meaning to growth metrics.

It’s really the combination of growth and efficiency metrics that paint the full picture of business performance, and help us identify the bottlenecks that will have a significant ROI if addressed.

Ultimately, addressing these bottlenecks is how you scale. Whether it’s generating more leads, reducing lead response time to improve conversion rates, or something else, removing or optimizing your business’s limiting constraints one-by-one unlocks new stages of growth.

But you can’t do that if you don’t know where those bottlenecks are and what impact they’re having on your business. Which is why we focus on making that data as accessible and transparent as possible for you.

This radical visibility is crucial to your business’s growth. You can have all the data in the world, but if you haven’t taken the time to determine your needle-moving data points, it won’t matter.

That’s why we work with you to determine the most important data for your business right now. We focus on actionable data and deliver that to you in simple dashboards.

That’s radical visibility.

Now, looking ahead, think about this question: if you have all the data you could ever want, but little to no time to make sense of it, what good is it?

We’ll dig into that next time.

Thanks for reading,
Josh

P.S. To learn more about JS Analytics and what we do, check out our website here.

If you’re interested in becoming a client of JS Analytics, feel free to grab time on my calendar here.