Many would be surprised to learn that there was little science to flight combat during World War I and II. In fact, the beginning of thinking of how to develop pilots into better pilots didn’t being until the 1950s. If it weren’t for the work of John Boyd, it may not have begun until several years later.
Boyd was a tactical instructor at Nellis Air Force base in the Nevada Desert. While years later his contributions would be recognized, at the time, he was not highly thought of. In fact, he was thought of as a hotheaded oddball. In a Wall Street Journal Article from 2018, author Morgan Housel described Boyd as rude, impatient, and disobedient. He would talk back to his superiors and his behavior in meetings was downright bad-mannered.
Boyd had a different way of going about his job. His methods, while many observed as frivolous and tedious, supposedly never lost a mock combat battle (of which he flew over a thousand). Today many would say his most important contribution to the advance of airpower was his 1970’s Energy-Maneuverability theory, which revolutionized the study of fighter-jet dogfighting.
So what was Boyd’s secret? Was he just naturally talented? Had he come up with a method or strategy that was just simply the best? No…none of that. His secret was data. Boyd studied the most efficient way to gain an advantage. He knew that when turning a plane it would either slow down or lose altitude because it lost energy. After missions, he would track and record movements, strategies, and outcomes in notebooks. He applied physics to dogfighting and changed how pilots were trained and planes were built.
John Boyd is similar to an entrepreneur. He took an idea and tried something new. He took a risk and went against the norm.
However, Boyd had one advantage that others didn’t….data. He had keen observation skills which enabled him to collect all of this data. He knew more than his competition. Since he had more data, he could make more intelligent decisions about how to move forward, which strategies to employ, and what the most likely outcomes were.
Data as a Differentiator
It amazes me how many business owners “shoot from the hip”. In a time when collecting data is easier than ever, most small business owners are still trying to figure out who their customer is, what they want, and how best to serve them.
Many marvel at Amazon’s success. They have built an empire that evolved from books and now covers..well, everything. We could write a book (and many have) on how Amazon has achieved this success. However, I would argue that one of the most important factors is data. As an Amazon Prime member, I probably can’t comprehend how much data they have on me alone. They know where I live, how much I spend on dog food, what I have purchased for the past 10 years, do I have kids, what are my hobbies, what I watch on TV, and so much more. As a result, when I log into Amazon, they immediately present me with products I might be interested in. On an even more global scale, using mine and millions other Fire Stick TV data, they know what type of TV shows to produce. They use this data all of the time.
As a small business owner, you might argue that you have no way to collect all of this data. And you would be right. However, you do have a way to collect way more data than you think. You are probably collecting tons of data right now. However, I know from experience most small business owners aren’t using it.
And hey, I get it. Trying to decipher all of this data and put it into a usable format is hard (google “How many Americans hate math”). This is where a good financial and accounting advisor comes in. These are people that love numbers. These are people that dream in numbers (yep, I do!). If you have an advisor that can help put this data into an actionable and usable format, think of how much further ahead your small business will be. Just like John Boyd, your business will have a tactical advantage.
About Krieger Analytics
Krieger Analytics works with businesses to help them with their profits and grow through accounting, finance, and bookkeeping. We are not the perfect match for all businesses so we have honest conversations upfront to see if we are a good match for you. Contact us now for a call to learn more about us and have a conversation about your business.