Analytics for the Small Business Owner

Do you know a small business owner who could use a little help in making their business more profitable and efficient?

I am looking for a half dozen small businesses that I can help then better understand their business data. In exchange for my help I would like to use them as a case study in a new book I am working on.

The new book will be an Analytics Guidebook for Small Business Owners. I have found that while analytics has great success in boosting efficiency and increasing profit in large and medium sized businesses across the U.S., the same has not happened for most small business owners.

So, I am hoping you can refer me to a small business owner you know that might be interested in some help. The kind of help I offer would be to do a simple business intelligence package for them consisting of building a competitor landscape, compiling a demographic profile and collecting customer insights. There are things I specialized in while with Wells Fargo.

In exchange for this package, I would just ask for some access to their data. How they manage expenses, payroll, inventory, and other data rich business processes. I would sign a non-disclosure agreement and not ask for access to any private information, just some raw data to work with.

I am happy to elaborate more, if you know someone who is interested. Thanks for your time and consideration.

Daniel Meyer, Analytics Champion

www.dmaiph.com

Small Business Analytics – The field of small business analytics is just starting to blossom as companies are looking for more data-driven decision-making to prosper in the age of Big Data. DMAIPH is at the fore front of providing analytics training, consulting and outsourcing options to small businesses. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly to set up a free consultation on how to get more analytics in your small business.

Know How to Make a Profit

I have been self-employed for 4.5 years now.

Some tell me that’s remarkable, but I am just doing what I do best. Sharing my passion for analytics.

Depending on how you measure success, I have had some pretty good successes. But also some pretty amazing failures too.

I get why so many small business fail. It take a lot of perseverance to rely just on yourself and a small circle of supporters for your livelihood.

So at this point in my career, almost 5 years of being the man after 20 years of working for the man, I know how to make a profit.

First off I have to stick to my plan. Allow for it to evolve and be flexible, but year in and year out I stick to the plan on being the name brand in analytics in the Philippines.

Second, I create a lot of content. If content is good and in my case, I can humbly say it is. People will pay for it. Books, Blogs, Conferences, Public Seminars and In House Trainings all help to generate revenue. Its all from me brain, its all based on content in my head. As long as I can create engaging content, I can make money.

Third, I have to live within my means. Always keep one eye on the future. Trust the right people. Business acumen like that which balances success with failure enough that I can keep going.

The next key is that you have to be connected. Know what’s hot now and what will be hot. I read a lot. I follow a lot of things via social media. I keep myself informed on what’s going on with my customers, my future customers, my competitors and those who can influence my business. In short I am constantly networking.

And finally you have to love what you do. I can’t imagine any small business owner who can survive long without the passion that comes from deep inside. Its near impossible to make a profit without any passion behind it.

So how do I know how to make a profit?

I have lived it.

Let me show you how!

#IamDMAI

Monetize Our Content

It really is not that hard to create a lot of content.

Maybe for me it’s easier than most because I like to talk, I like to write, I like to share and I like to educate.

But it’s still not as hard as so many other things people do every day to make money.

What is hard is creating content that is engaging. That enables curiosity and bring an emotional response. Content that is truly enchanting is rare.

If you can create engaging content, then you should be monetizing it.

There are so many ways to make money off of good content. Sometimes it takes some creativity. Sometimes it takes extra effort. Occasionally you have to spend money upfront to make money long term.

For DMAI we have a lot of content. Here is how we monetize it.

Books are the most traditional method. Given the amount of writing I have done on analytics these past few years, there is enough content for a half dozen books. And there are hundreds more in my head. Publishing a book and selling it on the side at speaking engagements is a nice, but fairly inconsistent revenue stream. But it is a good place to start.

E-Books is less costly than traditional books, but as whole still far popular. Getting people to pay for online content remains a very elusive prospect for most content creators. Still having that option available will add a little more revenue over time for very little cost.

Online only content for sale is another option. One I have as of yet, not tried. But again if there is a such a needs for analytics training and the ability to speak in person is limited, then providing online only content for a reasonable fee makes a lot of sense.

Webinars and videos are additional online revenue options. Getting people to pay for a series of online trainings is not something I have seem work with much success. YouTube kinda makes that nearly impossible. But in some cases, where you an offer a high quality production that delivers as well as the in person trainings do is something that some people would pay for. Need to look into this one some more.

Still though, the best money maker for DMAI is the fees I get when speaking or conducting training. The market price for these events continues to rise as the reality of their not being enough analytics experts to go around combines with the pressure people feel to get more out of their time and look to analytics as the solution.

That is why we are already planning our 2017 training schedule, blocking off dates for big events and getting on the calendars of companies looking for in house training.

Monetizing our content is not hard, it just takes sticking to a plan.

Get In Front of People

The single biggest asset to my business is me.

Knowing this helps guide my strategic plan.

The more I am in front of people talking about analytics the more the business will prosper.

The more people who here me talk about analytics will get excited and start believing they can master analytics too.

The more attendees, trainees and audiences who learn something from me, the more referrals to follow.

Branding for any company is all about building something that sticks in the minds of its customers as it also attracts new customers. Great brands don’t have to market themselves as much as they do just continue to do what they do best.

That has always been the goal of DMAI. To market me to the point where we are the name brand in analytics in the Philippines.

Analytics is something every business needs, but most businesses struggle with. It not easy to use data to empower better decision-making. The boom in big data makes it more challenging. The dearth of analytics talent available makes it seem impossible to many business leaders.

So that is why we need to get me in front of them. To show them how they can unlock their data to tap new prospects and discover new opportunities.

Once they have a sense its not as daunting as they thought, once they feel they can do what I do too, then our brand gains power. With each interaction between me and those who need me, we level up.

That is how we execute our master strategic plan. That’s why #IamDMAI

Engage The Network

Networking. Why do some many people fail at it? What do the great networkers have in common that make them great? What should you do when your networking efforts don’t produce the results you expect?

Asking myself these questions a lot lately.

I know a lot about networking strategy and have seen the master’s do it well. I have a lot of experience in marketing myself and my business. I have built a strong and recognizable brand. In many ways I am an expert on networking.

Yet networking is not easy for me. I am never really satisfied with my results. I am perpetually adding and creating and sharing. It’s in my DNA. But it’s still not easy.

When I talk about analytics I get energized. The more I talk about analytics the more energy I have to put into networking. Passing out business cards while sharing my story is awesome. Having people tell me they follow my blog and enjoy my writing is super awesome. Being in front of a crowd of curious minds who want to know more about analytics is super awesome x 1000.

So for me to engage my network, I can do a lot in person. But there are so many hours in a day I can devote to that. So engaging via social media is key to building the network substantially. Social media is 24/7 and can attract people who never have a chance to see me in person.

I have a marketing plan for engaging people via personal interactions.

I have a marketing plan based on appearing at events, conferences and schools.

I have a social media marketing plan for sharing content online.

And I have a media plan to build the network through more traditional methods as well.

You have to have these plans written out so people can follow them.

You have to talk about them constantly so people understand them.

You have to measure them consistently so you know if people are engaged with them.

That’s networking. That’s how I do it.

That’s why #IamDMAI

The field of small business analytics is just starting to blossom as companies are looking for more data-driven decision-making to prosper in the age of Big Data. DMAIPH is at the fore front of providing analytics training, consulting and outsourcing options to small businesses.

Aligning a business strategy to drive an organization forward requires a robust analytics solution. Businesses who have good analytics tend to be much more profitable and efficient then ones that do not. DMAIPH has helped dozens of companies in both the U.S. and the Philippines with adding more data analysis in their business strategy. We have joined up with our key business partner PMCM Events Management to showcase our solutions at #TechToniPH in July 2017. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly to find out what we can do to help you align your business strategy with analytics.

Stick to the Primary Goal

When you start feeling like you are going in several directions at once, but you are not happy with the progress you are making overall, then you need to sit down and do some strategy planning.

It has been awhile since I added some structure to what we are doing with DMAI so we don’t spend time doing things that don’t drive us towards our primary goal.

The primary goal of DMAI is to bet the name brand when it comes to analytics in the Philippines. The reason we exist is to take advantage of the huge gap between supply and demand when it comes to analytics talent in the Philippines labor pool.

In the past few years the demand for analytics talent has boomed at a rate that has far outpaced efforts to attract, train and empower the supply. The past year or so has seen a great number of new players enter into the analytics and data science training space, but it is not enough to meet the global demand for analytics that the Philippines is caught up in.

As I add more and more data scientist and analysts every day on LinkedIn, I am seeing a pattern that is both concerning and exciting. Like in the U.S. and across the globe, the number of data science and analyst jobs mushrooms, but by and large the people filling the openings lack the experience to really be effective at them. Which of course means they will need more training. DMAI is in a good place to address this opportunity.

We have worked hard on building the brand and getting the name out. Working with key business partners to speak at conferences, conduct public training workshops and appear in the media has given us a lot of access. The amount of content we have created between social media, blogs, training materials and now books adds to our ability to share content.

So for the next 18 months, we will be asking ourselves every day this simple question. Is what we are doing right not working towards that goal of being the name brand in analytics in the Philippines? If not, then it’s not a priority no matter how much money it makes or how important it seems.

There can be only one top dog. And the dog’s name is DMAI.
#IamDMAI

Why Analytics Projects Fail: #1 – Lack of Focus

Lack of focus is common reason analytics projects fail. Keeping a focus on any project can be a challenge for companies that are not well organized. If you are an analyst or trying to champion analytics in your organization and are up against a lack of focus, I have some ideas for you.

First off, size really isn’t a factor when it comes to the organizational culture towards being organized. In some cases size makes the problem more apparent, but size can also mean more resources, so in most cases its really not a serious issue.

There is generally a strong correlation be the way data is handled in a business and how organized the company is in other ways. Lots of paper, manual processes and clearly define process flows may look organized, but it’s highly unlikely they deliver the type of data leadership really needs.

Lack of focus often happens when leaders seem overwhelmed and say they don’t have time to dedicate to things like analytics. The first thing you need to figure out is are people resources really stretched too thin or is it more a cultural issue where being too busy is more of a badge of honor.

The best way to deal with overworked teams is to start putting data around what they do every day and come up with solutions to improve time management and delegation. Few people can truly say they have extra time, but everyone can say they need to figure out how to manage time better. A good analytics solution does just that.

Few people can rationally explain why their job would be harder if they had more analytics. So it’s not too hard to get people to buy into the concept of analytics, but to get them to buy into the actual practice you need to be part salesman and part storyteller.

You need to show them the value putting a greater focus on your analytics project will bring to both the business as a whole and to each individual involved in the project. Besides showing data to champion the use of more data, you need to tell stories about how its helped in other places. You need to get them to envision how much better life will be once your project is complete.

Lack of focus can also come when the project is not well thought out of you get scope creep… when additions are made to a project that start distracting people form the original goal of the project. It is hard to stay focused when you don’t see focus in the project itself.

The final point I’ll make is that you also need visible and consistent buy in from the person(s) in charge. If they are not advocating for analytics, then your project will never get the focus from stakeholders and project team members you need then you will fail.

Analytics Culture – The key to using analytics in a business is like a secret sauce that fuels Data-Driven Decison-Making. It is a unique combination of analytics talent, technology and technique that are brought together to enrich and empower an organization. A successful analytics culture is not easy to create, but DMAIPH can show you how. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly so we can build a strategic plan to turn your company into analytics driven success story.

DMAIPH Fuels New Businesses Ready For Launch (3 of 3)

The third type of company we can add value too is one ready to launch. You have a great idea, you have the funding, you have an awesome product or service, but you aren’t 100% sure if you have everything you need to get out there and make money. . We can offer our business intelligence package of demographic profiling, competitive landscaping, social media strategy and market assessment. We can also offer virtual staffing support to assist with marketing and operations. Our hybrid staffing solutions will give you access to a very talented work force that is flexible and affordable.

We have shown marked achievement in helping a couple of new businesses get out of the gate successfully. One client we helped was a mobile app designer who had a great idea, enough capital tyo get started, but little idea on how to really understand the opportunity to make money. In addition, the client was hesitant to take on all the HR work in hiring a team when he had no idea how many people he would need in the short term. We helped them with both.

Using the same methodology, we used with the chiropractor, we conducted a business intelligence assessment to help figure out how to identify customers and where to find them. We also used our home based, hybrid staffing model to hire six people to help the client have get off the ground. Charged with editing pictures for the mobile app site based on set criteria, 24/7, with as close to real time response as possible, the team quickly became a key part of the business strategy.

Another new business we helped get off the ground was someone who wanted to open a call center business in Manila. She was well funded and motivated, but didn’t really know where to start. The client really needed help knowing how to settle on a location and to set up the business. She also need help designing her marketing and social media strategy. So that is where we started.

We developed a social media strategy for the business for both client marketing and employee recruitment. You would be surprised by the number of businesses who still have not figured out an online branding strategy to sell their business.

In parallel with the social media, we also conducted a business intelligence assessment to help her pin down the location for her to set up the business. Worried about being in a place that was both convenient and not overly saturated by competitor, our data and analysis pointed her to the right place. She has been there for 4 years now, expanded her site twice to accommodate growth, and added several new customers all while having little challenge in recruitment.

If you are thinking of starting a new business, we can help. Let us show you how to use the data around you to make good strategic decisions.

Analytics Consulting – DMAIPH specializes in a variety of analytics consulting solutions designed to empower analysts, managers and leaders with the tools needed for more data-driven decision-making. We have helped dozens of companies get more analytics in their business. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly so we can tailor an analytics solution made just for your unique requirements.

DMAIPH Helps Companies Revitalize Their Business (2 of 3)

The second type of company we have helped successfully is one looking to revitalize. Profits are down, customer flow has shrunk, product and services aren’t selling like they used too. We can offer our business intelligence package of customer insights, demographic profiling, competitive landscaping and market assessment. We can also offer virtual staffing support to assist with marketing, scheduling and follow-up.

I’d like to share a story about one of our clients who came to us at a crossroads with his business. This client is a chiropractor who was trying to figure out what to do with his business. Having lost 40% of his patient base and seen his revenue drop by 60%. He was at a cross road. He had tried a couple of consultants, spent lots of money and was still heading the wrong direction.

In talking with him, it was clear he had lost touch with his market and was not able to offer a very compelling solution to bring new clients in. We suggested we do a series of business intelligence exercises to help understand more about his business, the opportunity around him and come up with some potential solutions.

Because he didn’t have a lot of money to waste, we suggested using a team of interns to help keep costs down. It would be a great analytics exercise for the doctor’s practice and for the eager young minds we had been working with.

We dove into the project and came up with the following resources; we built a competitive landscape, constructed a demographic profile and put together a customer insights report. Each one using public data, analysis done by the interns with my guidance and direction, and used Tableau to roll all the data and findings into a dashboard to show the doctor how he’d gotten to the point he was currently at.

After identifying some action items based on our assessment, we then helped the doctor but some into practice and helped him turn his business around successfully.

By employing very curious minds, giving them direction on where to find data and how to analyze it and sharing the data with an open-minded end user, we successfully validated my approach to using analytics to help a small business. We have done the same for a half dozen other small businesses and can do the same for yours.

Analytics Consulting – As a founding member of Gloabl Chamber Manila, DMAIPH specializes in a variety of analytics consulting solutions designed to empower analysts, managers and leaders with the tools needed for more data-driven decision-making.

We have helped dozens of companies get more analytics in their business. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly so we can tailor an analytics solution made just for your unique requirements.

DMAIPH is Good at Helping Companies Looking to Expand (1 of 3)

The first type of company we generally get involved with is companies looking to expand. Huge growth is just around the corner and there is a need to staff up quickly, but given some uncertainty as to how much growth will be needed how soon, you want a little more flexibility in staffing. Our virtual, hybrid staffing solutions will give you access to a very talented work force that is flexible and affordable. We can also assist with developing the expansion strategy with our business intelligence package of demographic profiling, competitive landscaping and market assessment.

Let me tell you about one of our clients who came to us in expansion mode. We started with six work from home staff who were tasked with adding key words to online auction items. Starting with a small team who would just do a small percentage of the key wording for our client. We quickly found our talent pool was very large and very deep. So we quickly built the team up to a dozen and then 25 and ultimately 50 people. We worked closely with the client at first but over the first six months also built up our own expertise to the point, the client became very hands off.

Work from home positions make a lot of sense for this work as its very independent and easy to assign, track and review. We also got past a lot of challenges with work from home team, but really building the team using social media to connect them and make them feel like part of the larger organization. This hybrid approach where the employees feel both independent and connected has led to extremely low attrition.

We also found that in the Philippines, there are literally a million former call center employees, with college degrees, good English and the drive to do a good job who left the call center industry to spend more time with family. So our work from home jobs are right in line with their needs.

Things have worked so well, the client has had us add a graphic design team, an email-marketing team, a desktop support team and a customer care team in addition to the key word team. The key word team has added a QA team and a 2^nd level support team as well.

From a financial standpoint we helped the client save a lot of money by staffing in multiple locations, added the ability to do 24/7 customer care and never miss a beat with meeting our SLA.

This is the kind of thing we can do for any company looking to expand both rapidly and strategically using our home based, virtual team solution. Just connect with me and I will explain how.

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