The current business environment reminds me of being socked in a fog bank in minutes, after being on a pleasant summer sail. The entire episode puts the pucker factor meter in the red zone. One minute clear sun and nice breeze, the next you can’t see your hand in front of your face. Your other senses become more acute — suddenly you hear the splash of the waves on the rocks you cannot see (funny I didn’t hear that a minute ago). The engines of power boats are closer, seeming to come at your every quarter (PT109 how bad can it be?).
As you sit in the cockpit with your canned air fog horn and US Coast Guard approved paddle, you think that the portable marine radio you bought will not save your sorry carcass (at least you can get the Coast Guard to retrieve your drowned body as you go down). You kick yourself for not buying that radar instead of the case of wine as a boating accessory (in fact, you think of downing some of that right now to ease your passing). What you would not give for just a little visibility.
That’s what running a business feels like right now (makes you want to puke doesn’t it, what fun). My Kingdom for some Visibility! Sure, you can see what the others are doing; cut a few heads there, shut a facility there. Is that the right thing to do? Are you killing your future seed corn or bailing the water which will sink the company? Ugh! In this case, you really wish your company’s reporting could be that radar to tell where and where not to go (sure wish I got that CPM Package rather than that Sales meeting in Napa Valley). With dashboards, planning and budgeting, consolidation, and operational BI, I would have a much better sense of what to feed and what to kill to take advantage of my competitors coming out of this economic fog (Aye Captain! in the Bay of the Blind the One Eyed Man is Admiral!). Wishing and regrets won’t get you much, and capital investment at this point seems to be a dirty word (Yep, there it is on George Carlin’s list).
In the case of my sailing experience, the way I dug out of the fog and fear was to dig out the depth finder the former owner left behind and the charts I bought because it seemed like a good idea at the time. I then proceeded to steer the sailboat in circles matching the readings on the depth finder with the depth readings on the chart based on my dead reckoning of my location (you reckon wrong, you’re dead). Needless to say it worked, the fog cleared, and I was within a quarter mile of where I should have been (Cool!). Just straightening out existing corporate reports and cleaning existing data is the equivalent of using the depth finder and charts already on hand (Yes! I know the difference between capital and expense). In fact, that effort usually saves money by eliminating old unused reports (Oh, I feel so green!).
In any case, take a solid first step by getting those state-of-the-art visibility tools of BI/CPM/EPM when the current problems clear or things become so dire as to require dry dock repairs. That way, the pucker meter won’t be buried in the red the next time this happens, and it will.
Image courtesy of Herbert Knosowski, AP