We are off and racing

Melbourne Cup is one of the great Australian calendar events of the year – the race that stops a nation.

Aussies that don’t normally gamble put on their $10 bet and hope for the best, knowing that it’s a lottery and a bit of fun. In a race like this, even the professional gambler would not risk a big bet – the odds are just too risky with too many variables.

Many people think business is a lot like gambling and admittedly, there are some inherent risks involved to owning your own business. In order to be an entrepreneur, or a business owner, you have to take some risks pretty much every single day.

If you’re growing your business, in whatever kind of economy is happening at the time, there are risks, but there is a very big difference between gambling and taking risks.

To take a risk we need to be informed and understand our business. We need to understand our cash flow position, what projects are making us profit and which are not, which staff are having too much sick leave, if our procurement systems are effective,  what our inventory levels are etc.

Without this information we are working blind and therefore not becoming risk-takers but gamblers!

Business leaders should have access to real-time information that allows them to make informed decision. They should have a software solution that provides them with the ability to take calculated risks, encompassing ERP and business intelligence.

As a company Kinetic will do our yearly one off Melbourne cup sweep stake around the office and we will have the celebrations like any Australian organisation. We all accept that we probably won’t win (because we never do) but it’s a bit of fun!

After our afternoon of fun is over we will continue to help organisations take calculated business risks by empowering them with real-time information systems that eliminate the need for them to gamble.