10 Ways to improve Business Analysis

Keerthana By  August 24, 2022

Hello Business Builders!

Do you want your business to grow big and strong, just like a well-tended banyan tree? To make that happen, you need to be really good at understanding your business. This is called Business Analysis. It’s like being a super detective for your company, finding out what’s working, what’s not, and how to make things even better.

In Tamil Nadu, we see so many smart business owners. From small shops in Madurai to big factories in Coimbatore, everyone wants to succeed. But how do you truly understand what your customers want, what your team needs, and where your money is going? That’s where good business analysis comes in!

We’ve helped many businesses right here in Tamil Nadu become stronger by using simple, smart ways to understand their operations. Here are 10 easy ways to improve your business analysis that you can start using today, just like our clients did:

1. Understand Your Customer Deeply

Imagine you run a famous Kovilpatti Kadalai Mittai (peanut candy) shop. Do you know why people buy from you? Is it the taste, the freshness, or because your shop is easy to find? To really know, talk to your customers. Ask them simple questions. What do they like? What new flavours would they want?

  • Practical Tip: A small bakery in Anna Salai, Chennai, started asking customers which new bread flavours they wanted. They found out many preferred whole wheat options, and by making those, their sales went up by 15%!

2. Talk to Everyone in Your Team

Your team members are like the hands and legs of your business. They know a lot! A textile business owner in Tiruppur wanted to know why some fabric designs sold better than others. She spoke to her weavers, sales staff, and even the people packing the clothes. She learned that soft, earthy colours were more popular than bright, shiny ones. This helped her make better design choices.

  • Practical Tip: Hold a small weekly meeting where everyone can share ideas and problems. Even the delivery person might have great insights!

3. Look at Your Sales Numbers Carefully

Numbers tell a story. If you sell different types of “murukku” (snacks), which one sells the most? Which one gives you the most profit? A snack manufacturer in Dindigul used to just look at total sales. But when they started looking at each snack’s sales separately, they found out their “Thenkuzhal Murukku” was a super seller, while another one hardly moved. They then focused more on making and marketing the popular one.

  • Practical Tip: Every month, check which product or service sold the most and least. This simple check can guide your next steps.

4. Watch What Your Competitors Are Doing

Who else sells what you sell? What are they doing differently? A chain of small beauty salons in Coimbatore noticed a new salon offering a “quick hair spa” service at a very good price. They quickly introduced their own version, and because they were known, they kept their customers happy and even attracted new ones.

  • Practical Tip: Visit competitor shops, check their social media, or even ask your customers why they might sometimes go elsewhere. Learn from it!

5. Use Simple Tools for Data

You don’t need fancy software. A simple notebook or a basic spreadsheet on a computer can do wonders. A small restaurant owner in Madurai used a simple Excel sheet to track daily expenses for ingredients like vegetables, oil, and spices. After a month, he saw that he was spending too much on a certain vegetable. He found a new supplier, saving him a good amount of money!

  • Practical Tip: Start by tracking one important thing, like your daily sales or your biggest expense, using a simple method.

6. Draw Simple Pictures or Maps

Sometimes, drawing how things work can make them clear. Imagine you sell handcrafted sarees online from Kanchipuram. Draw the journey of a customer: how they find your website, click on a saree, add it to the cart, pay, and then receive it. Where do most people drop off? Maybe they struggle with payment options. This drawing helps you find the weak spots.

  • Practical Tip: For any process in your business, try drawing it out step-by-step. It helps to see the bigger picture clearly.

7. Ask “Why?” Five Times

This is a super simple but powerful trick! If a customer complains about late delivery, ask “Why was it late?”

Answer: “The delivery person got stuck in traffic.”

Ask “Why did they get stuck?”

Answer: “Because they chose a busy route.”

Ask “Why did they choose a busy route?”

Answer: “They didn’t check the map app properly.”

Ask “Why didn’t they check the map app properly?”

Answer: “They weren’t trained to do so.”

Ask “Why weren’t they trained?”

Answer: “We don’t have a proper training process for new delivery staff.”

See? The real problem wasn’t traffic, but a lack of training! This happened for an e-commerce store in Salem, and they fixed their training.

  • Practical Tip: When a problem comes up, keep asking “Why?” until you find the root cause, not just the surface issue.

8. Get Feedback from Your Customers

Your customers are your best teachers. A local organic vegetable farm in Erode, selling directly at a farmer’s market, started asking customers, “What else would you like us to grow?” Many asked for organic leafy greens. By adding those, the farm saw more repeat customers and higher sales.

  • Practical Tip: After a sale or service, send a quick message or ask directly, “How was your experience? What could we do better?”

9. Test Your Ideas on a Small Scale

Before you make a big change, try it out with a small group. A new traditional snack brand in Virudhunagar wanted to introduce a spicy new “mixture” snack. Instead of making a huge batch, they made a small quantity and offered it in just five local stores. The feedback was great, so they went ahead with a bigger launch, saving themselves from a potential big loss if it hadn’t worked.

  • Practical Tip: If you have a new product idea or a new way of doing things, try it out in a small way first.

10. Keep Learning New Things

The world is always changing, and so are businesses. A successful entrepreneur in Vellore, who owns a chain of sweet shops, always makes time to learn about new marketing ideas or how other businesses are growing. He reads books, watches videos, and talks to other business owners. This helps him keep his sweet shops fresh and popular.

  • Practical Tip: Dedicate a few hours each week to reading about your industry, new business trends, or attending online webinars.

By using these simple but powerful ways, you can become a super business analyst for your own company. You don’t need a big degree; you just need to be curious, observant, and willing to ask questions. Start with one tip today and watch your business grow!

Happy Business Building!

Team LetUs Business Consulting

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