Profit margins are like the sea, if you’re not paying attention, both can sink even the best – Captain’s (B)log, October 2, 2019October 2, 2019 9:06 pm
Captain’s (B)log, October 2, 2019
Profit margins are like the sea, if you’re not paying attention, both can sink even the best ship.
Having the very best products or services within your marketplace is not necessarily a ticket to the enchanted island of profitability. Without a 360-degree view of your business metrics, your margins could sink your company even in the best of times.
Oyster Yachts, located in the UK, is a prime example of a company that delivered the highest quality, service, and production when it came to sailboats. However, even with record orders booked in 2018, the yard suddenly shut its door amid the celebration due to a lack of operational and financial insight.
Fast forward to now, and there is good news for Oyster. In just 18 months, the new owner has not only met every benchmark toward getting back in the black but, additionally, he also launched the first of a whole new line of boats in the brand’s portfolio.
Over the years at Halden Group, I have had the good fortune to work with some of the leading companies within their respective markets. The one thing they all share is a relentless focus on managing their margins. As a solutions provider, Halden prides itself on our ability to implement systems that deliver real operational and financial insight to our clients.
About Halden Group: Halden deploys methods and automation that allow our clients to compete for market share at the highest level. For a free consultation on how Halden can deliver value to your organization, contact us here or book time on our calendar.
Wisdom from the Wheelhouse? Profit margins are like the sea, if you’re not paying attention, both can sink even the best yacht.