My wife bought a ‘Fitbit’ a couple of years ago. For those of you who don’t know what a Fitbit is, it’s a little wristband you wear that measures activity – how much sleep, exercise, steps you take per day, as well as a raft of other useful information.
Her Fitbit helps her because it records and displays a lot of useful information that helps her to focus on what is important in relation to her body and how well or otherwise she is doing. So, as Brian Tracy once said, ‘What gets measured tends to lead to improvement’. And the Fitbit app also lets you see how you are doing compared to other people if you connect with your friends.
What you measure and REPORT on tends to improve your results
But how does this little story apply to you, your business and your results? Well, what it is hinting at, is if you know what your key business metrics are i.e. the those few critical things that drives your business forward – monitor them effectively and then use the information to make key decisions. And your business will improve.
But how do you find out what these key metrics are? How do you measure and track them? How do you interpret them? And perhaps, most importantly of all, how do you make strategically important decisions as a result?
Well, if you really want to know, let me know when you’re available, and we can have a discussion.