Do the numbers actually support your decisions? Do they actually confirm what you believe are the best performing parts of your business? Do you make numbers-based decisions? Unfortunately, personal preference and gut feel do not always produce the correct answer.
Have you run the numbers to test your thoughts? Can you or your in-house finance team produce the required numbers to undertake this exercise?
I can point to a number of clients who have been surprised after I have undertaken an in-depth analysis of their numbers. The results have run counter to their views of the business or uncovered previously unidentified opportunities and issues.
Responding to this analysis and making number-based decisions has led to much improved results.
There is no one-size fits all formula here but the key is understanding the key drivers of your business, what influences these and their relationship with expenses. The tools are meaningful, trustworthy financial reports, management reports focused on the keys and financial forecasts.