Why statistics isn't the only way guide a business decision
For personal enjoyment I am in a free NFL contest with the grand prize winner receiving a trip to some exotic location. I actually don't know where as I'm not playing for the trip. I'm playing to see how well I do picking the winning team.
I have in the past spent a considerable amount of time handicapping each game by won/loss record, their ranking in offensive and defensive numbers and a number of intangibles like if their star player(s) hurt. So how am I doing? Slightly better than average.
The reason why guiding a business by statistics isn't good by itself for business is that each one is different. You don't know if a business owner has the proper amount of training, capital, personality to deal with customers.
Use statistics as a tool but not as your central decision making source or you might only create a business lingering around average as well.
I am a CPA in San Antonio and provide bookkeeping, payroll, taxes and more. We offer a free initial visit and look forward to serving your business needs.
Richard J. Garcia | 10/31/2011