THE ENTRECODE BLOG
How has ‘Moneyball’ ideas helped entrepreneurs build successful businesses?
In his book ‘Moneyball – The Art of Winning an Unfair Game’ Michael Lewis describes how Billy Beane’s analytical evidence based approach had transformed the fortunes of his baseball team ‘The Oakland Athletics’. What has this got to do with entrepreneurs? We have used the principles of the ‘Moneyball’ approach to help entrepreneurs improve the performance of their businesses. You too can enjoy the benefits. Here are some examples:
Customer Perception Surveys reveal your customers key buying priorities, how you and your competitor’s rate on them and what you need to do to make more sales.
“This process helped us to focus our efforts and create more business.” Paul Mackie – CEO, Rex Procter & Partners
Detailed product profitability analysis provides critical insights into where you are really making and losing money.
“We were surprised to find we lost money on our core product, which we loved, but could make much more money by sticking to decking which we did and tripled our profits.” Mark Eggleston – Owner, W J Components
The easiest way to make money is to stop losing it and the process of fixing system slippage finds the hidden profits within your business.
“We used the process to identify over £400k of costs which we discovered were out of control.” Simon Keats, MD, North Staffs Caravans
These are just a few examples of how we have applied the ‘Moneyball’ principles to help entrepreneurs to boost their businesses. The key lessons from applying ‘Moneyball’ to boosting businesses are:
- Identify a good internal researcher/analyst
- Get a toolkit or process
- Dive deep on the detail
- Hire an experienced external facilitator to help
For more information on how you can benefit from the applying the ‘Moneyball’ principles to boost your business call David on 07710 914171.
