How can the impact of using GrowthWheel
with client companies be accessed?
When a company succeed in improving it’s financials, create more jobs, or attract capital, there are many factors that has influence beyond which tools is being used. Even if all successful companies are using Excel spreadsheets, it’s not because of the tool alone that they succes.
Probably the most important factor is the process the business advisor takes the company through, but some tools can help the business advisor to a better job and be more productive.
Some of the factors that influence the succes of the company other than the quality of the tool can be the following:
- The skills of the entrepreneur and business owner
- The skills of the advisor
- The way the advisor is using a tool
- How the company is implementing the output from using the tool.
This means that the best and perhaps only way to measure the impact from a specific tool — like GrowthWheel — is to survey businesses of how they evaluate the impact of GrowthWheel in the process, after they went through it.
However specifically for GrowthWheel there is another specific and quantitative way to measure the use impact of the tool:
This is because focus when using the GrowthWheel Toolbox is for the company to make decisions and take action while also tracking these for each of the Focus Areas the company is working on. On GrowthWheel Online both the client, the advisors and the manager of a group of advisors are able to track the specific number of decisions and actions the company is both working on and has completed. This data is also displayed on a dashboard.
So while other systems are needed to track clients progress in terms of revenue, employees and capital, the GrowthWheel Online platform tracks the process that leads to the impact: The degree to which a company in partnership with their advisor identifies key decisions, make the decisions and turn them into completed activities.