A post in Yahoo’s Small Business Advisor blog (also known as “Profit Minded”) gives a very in-depth look at SizeUp, which the author describes as “a cool—and potentially very useful—tool for owners of existing small businesses as well as entrepreneurs investigating startup ideas.” She uses SizeUp to compare her business to other wedding planners in the New York area and talks about her findings. For instance, when she runs a report on the best places to advertise in Brooklyn, the brightest spots on the map are the areas where she did most of her business. “You can kill several hours plowing through this free data,” she writes. “Various inputs can generate reports on your cost effectiveness; revenue per capita at the neighborhood, regional, state, and national level; and predictions about what percent of your employees you will have to replace each year based on the local turnover rate. By inputting what you spend per employee on healthcare or worker’s comp, you can find out whether you’re in line with your industry.”
Read the full article here.