04 Apr Should you make time to simplify the numbers in your business?
Should you make time to simplify the numbers in your business?
Numbers are everywhere.
In a personal situation where someone is throwing numbers at you, the more complicated they are, the less you understand them and, if they miss things out, you simply don’t follow the point they are trying to make.
When this happens, what do you do? You will most likely get frustrated and ask for the numbers to be simplified and explained so that you have a grasp of the situation.
Why should it be any different in business? But it is…
In business, there is a natural tendency to overcomplicate numbers, using technical terms, graphs, percentages, fractions and large, complex numbers, sometimes all at the same time.
It’s likely that you or a team member have been guilty of presenting numbers in this way, and I would be amazed if you have not, at some point, had numbers presented to you that were so complicated you simply could not comprehend them.
Numbers matter, though, and our ability to understand the relationship between numbers and knowledge is crucial.
Your understanding of the numbers provides the basis for knowledge, and knowledge will allow you to act and to effect change. Without this knowledge in your business, you can change or influence very little.
Are you making the numbers in your business crystal clear?
Think about the last time you shared significant numbers with your team or with a customer. Was the way in which your numbers were presented simple enough so that your audience was engaged and was able to understand them?
This question matters – too many numbers and your audience will switch off; too few, and they won’t understand what you’re trying to explain. And presenting overly complex numbers can put people off.