You Manage What You Measure

One of my favourite bosses worked by the motto āif itās worth doing, itās worth measuringā. When I whined that something just couldnāt be measured, he would say, āThereās always something to measure.ā And he was always right. Itās an important concept for small business owners. Having a set of metrics that you watch and that you feel are the key drivers of your success, helps you keep clarity. If you donāt have goals stated for your company, and if you donāt regularly measure how youāre doing against those goals, you wonāt have your resources focused on the right priorities . The more public you can make your goals the better. Transparency of goals drives performance because it creates both a commitment and a sense of urgency. Commitment and urgency are key drivers of success. People often measure the wrong stuff, or measure with the wrong precision (either too high-level or too detailed). There is no āone size fits allā approach but there are two pretty universal measures...