HWADI?!?!
Most every organization suffers from the dreaded HWADI. What’s HWADI you ask? How We’ve Always Done It! That’s often the answer we get when we ask Why? of our new and prospective clients. True, using tried, tested and proven methods and methodologies is good business practice. But often stepping out of our comfort zones and/or having a set of expert outside eyes look at how we analyze, track and verify our financial processes and results can yield great dividends.
So just how do we hunt the financial HWADI? Like in most every journey in life, we need some idea of where we want to go. Even on our spur of the moment, no planned destination trips and adventures (some of the most fun!) we still have some idea of how we will go (plane, car, etc.) and have some ultimate destination (probably home) at some point in time. So even when we have a completely spontaneous trip, we still have an ultimate destination and time frame.
Many businesses find it hard to forecast and project financial results (note I didn’t use the dreaded B word – Budget) because of the many variables, particularly in today’s economic climate. “It’s impossible for me to forecast 3 months from now, let alone 3-5 years!” is a common theme we hear. There’s a HWADI! It is possible and by setting realistic goals and outcomes and tracking the progress, often the results are attained or surpassed.
Another HWADI we hunt is cost and expense reduction. “We’ve already cut all costs that we possibly can!” is another common theme today. While it’s quite possible that that is the case and that a business or organization has reinvented itself and its processes, usually that is not the case and the HWADI is still running wild! Here’s another instance where an outside expert may be able to reduce your expenses while increasing your revenue.
What’s the HWADI in your business or organization? Happy Hunting!
