It’s March Madness Time and Your Organization is Probably Losing Money… Here’s How You Find The Issues!

 

Expected corporate losses due to unproductive workers during March Madness is around $4 billion per year, says WalletHub in their 2019 March Madness Stats & Facts infographic. Here are some other stats:

  • Almost 60% of millennials are willing to miss a work deadline to watch a March Madness game

  • About 24 M people will participate in NCAA college basketball bracket pools

  • About 6 hours of March Madness are watched by the average worker

  • About 60 M people completed a NCAA tournament bracket last year

  • Almost a 30% increase in streams of March Madness Live

  • Almost 80 M social media impressions

So, how do you find the issues?

Well, there are a couple of ways to look at this.

1.      If you’ve kept up with building and updating your processes (and systems) and you have them all mapped out (properly stored and accessible) or they’re in a way that at any time, you’re able to take a top-down look at the way your business functions and identify the breaks in any given process by looking at the business goal(s) that are/have been affected.

This means it should also be pretty easy to:

  • Identify the key players/employees involved in performing the task(s)

  • Find out which departments are “dropping the ball”

  • Recognize why things are taking so long or tasks aren’t right

2.       

 
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The truth is, business only gets harder without adequate systems and processes in place. A lack of production in any area can be easily identified and rectified only if the time has been taken and attention given to creating some sort of visual representation of how your business actually functions (and how the players operate within any given area). In this case, if you’re struggling with a lack of production, it could also mean that there aren’t enough checks-and-balances in place to increase the accountability in certain areas.  

For what it’s worth, I began writing this article yesterday – March Madness got me too!

Go DUKE?

Opportunities 2 Serve helps small business owners build scalable processes and systems that help reduce inefficiencies, human error oversights, and allows them to focus on growth and improving business results. If you have a topic you would like me to cover or a question you would like answered then feel free to shoot me an email @ tmriii@opportunities2serve.com. I’d love to hear from you.

 
Tyrone RobinsonComment