For any business owner who has wished for a crystal ball, the Town of Payson now has one — the SizeUp Payson online data portal.
Courtney Page, Payson’s economic development and planning director, introduced the program during the Rim Country Regional Chamber of Commerce’s May luncheon.
“We know our small businesses need help and data,” she said.
Data helps a business to know if they’re paying too much in rent or the going salary for a barista.
Mario Ubalde, SizeUp’s director of customer success, explained the nitty gritty of the data and analytics available to a Payson business.
SizeUp, provides an online portal to collated data crunched from various sources. A business owner can find out information on their competition, discover the best source and type of advertising outlets for their business and understand their customer base.
“SizeUp is a business intelligence tool. It’s the same type of information your multi-national and international businesses use,” said Ubalde.
But it’s also for those trying to decide if they would like to work in a certain industry.
A series of questions creates a dashboard that compares what the Payson business owner/employee would receive in a salary, the potential customer base, how many employees that type of industry has in Payson — or those stats could be compared with state numbers.
The benchmark tool helps illustrate what the economic standards are for other businesses in the area, state or nation.
Ubalde used the example of an entrepreneur interested in opening a coffee shop in Payson to explain how this tool would help.
“You can look at trends with the benchmark tool,” he said.
Trends such as, what’s the average income of coffee shops in Payson, the state or nation?
On average, how many employees do Payson coffee shops support?
What is the staff turnover rate?
SizeUp also helps a business understand what the best advertising strategy would be for them and what help to seek.
Does the business need a marketing firm? Or a few advertisements in the local newspaper or on radio stations?
The demographics tool helps to break down the neighborhood population.
What’s their age? Income? How much do they spend on food outside the home?
“Dive into it as deep or as broad as you would like to go,” said Ubalde.
Once numbers are entered, the tools generate a report in a printable format.
The business owner or entrepreneur can show these reports to a bank or investor to help them understand the potential risks and rewards for investment.
“It is through the lens of data that we see how our business is performing,” said Ubalde.
But you don’t need to hire a business analyst to figure out how to use the SizeUp portal. Just contact Page at Payson’s Community Development offices.
“Everyone is welcome to email or call myself to schedule an appointment to go over how to use SizeUp,” said Page. (928-472-5046 or firstname.lastname@example.org).