QFF: Unleashing the Power of Data: Transform Small Business with the director of Vaxa Analytics. Shares his journey from software engineering to business analysis. Now helping small businesses by harnessing the power of their data. (Curtis West)

In less than 20 minutes a week, we'll introduce you to an expert or business owner with deep experience in what they do. Grow you, grow your team, grow a small business.

Welcome to the "Grow a Small Business" podcast with your host, Rob Cameron. In this episode, Rob interviews Curtis West, the Director of Vaxa Analytics, based in Brisbane, Australia.

Curtis shares valuable insights into the importance of leveraging data to understand customers, boost retention, and drive business growth. As a small business owner employing 5 to 30 people, you'll discover actionable takeaways to implement immediately.

Some Key Takeaways for Small Business Owners: Know Your Customers: Curtis emphasizes the significance of understanding your customers' behaviour, preferences, and motivations. He discusses different customer categories, such as ad hoc buyers, one-time purchasers, and membership-based clients, and how your approach to data analysis may vary depending on your business type.

Data Is Accessible: Curtis dispels the myth that data analysis is complex and unattainable for small businesses. He highlights that many businesses already have valuable data sitting in their databases, CRMs, or accounting systems, waiting to be harnessed for growth.

Focus On Key Metrics: The core metrics to track include customer lifetime value, customer acquisition cost, retention rate, and average transaction value. These metrics, when analysed effectively, can guide strategic decisions and marketing efforts.

Customised Data Analysis: Curtis explains that while there are common metrics, every business is unique. Customising your data analysis to align with your business goals and customer behavior is crucial. Our hero's write kick-ass reviews after listening to our special guests. Are you our hero?

Actionable Dashboards: Building simple, user-friendly dashboards is an essential part of Vaxa Analytics' service. These dashboards help business owners visualise key metrics and make data-driven decisions.

Iterative Improvement: The iterative approach of test, measure, and learn is fundamental. Small, consistent improvements can have a significant impact on business growth. Curtis shares a client success story where data analysis led to a more effective customer acquisition strategy.

Direct Customer Interaction: In the absence of a sophisticated data system, small business owners can benefit from regular interactions with their customers. Engaging with customers to understand their needs and preferences can provide valuable insights and inform data-driven decisions. One action small business owners can take: One piece of advice for small business owners is to "set aside some time every quarter or every two months to sit down and talk with a good handful of your customers." This direct interaction with customers can provide valuable insights into their needs, preferences, and the value your business provides to them. Do you have 2 minutes every Friday? Sign up to the Weekly Leadership Email. It's free and we can tell you to like to maximise your time. Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. 👇

Quotable quotes from our special Grow A Small Business podcast guest:

"What could you do more, if only you knew more? Start by tapping into the data you already have to uncover opportunities for growth." Curtis West

"It's all about the test, measure, learn framework. Use data to make informed decisions and continuously improve your business." Curtis West

"Customer data is your most valuable asset. Knowing who buys your products or services allows you to find more of them and create a more prosperous business." Curtis West