I beg you to stop with the reams of data to solve every problem. It takes too much time for things that should be directional in nature. I am not talking about engineering tolerances and things that require precision. I am talking about issues that need accurate information, but not perfect information.

For instance, if you are running a Profit and Loss analysis on a potential line of business in a mature business, you already have 80% of what you need staring at you in the Income Statement and Cash Flow Statement. The time, energy and opportunity cost to figure out that something is $65/unit of overhead using known and readily available information versus an exact number of $64.50 probably negates that $.50 of extra accuracy. Don’t believe me? On a 100,000 unit projection, you are talking about $50,000. If you are not able to withstand a $50,000 flux in your product/service offering at that unit level, the item should not be offered.

The analysis by paralysis phrase is becoming more real by the second. Your senior leadership is hiding behind this data. Your middle level managers are using the data to not make decisions. And your front line teams are frustrated.

Let me know what you think. Or better yet, let me know how I can help (856-296-3695) or jim@simplemgmtadvice.com.