Why Every Business Owner Craves Meaningful Metrics for Success
Why do business owners crave meaningful metrics for success?
You may have heard the famous Peter Drucker quote: “What gets measured gets managed.”
It’s true. If you can’t measure something and know its results, you won’t know if it’s working. You won’t know what to fix. And you can’t possibly get better at anything.
How would you lose weight if you never stepped on a scale? How would you improve your golf game if you never kept score?
Just as you measure progress in your personal life, you must measure it in your business as well. And you do this through metrics.
Metrics can measure progress toward goals and key performance indicators.
They can be qualitative or quantitative, to support decision making or provide information.
They can measure activities and results.
The best metrics focus on the strategies and tactics that drive business growth. They don't have to be numerous or complicated.
The Benefits of Meaningful Metrics for Success
Meaningful metrics for success show the current state of the business because it measures what gets done. They drive and support business decisions with data and facts—not emotion, creativity or brand. Metrics will ultimately save you time, help you predict trends, and allow you to pivot quickly.
Although it takes effort, discipline and consistency, paying attention to your metrics pays off because it provides you the path to results. You can’t test new strategies without it.
Here are just a few questions that your metrics will answer:
- Is what we are doing working?
- What isn't working?
- Why isn't our strategy working?
- Where can we do better?
- What should we improve?
- How will we know if we are improving?
- What is the real source of our problems?
- Are we on track to reach our goals?
They don’t sympathize, patronize or make excuses for themselves. They are like your unfiltered grandmother who will give it to you straight and tell it like it is. They tell the truth about what is really going on in your business whether you want to hear it or not. And although you may not like what it tells you sometimes, its impact is what pushes you and your business to bigger and better things.
Want to learn more about mastering your metrics? Check out this blog article.
Need Help to Develop Meaningful Metrics for Success??
Are you using metrics in your business? If you need help getting started to develop meaningful metrics for success, deciding what to track, or making sense of all the data, an Online Business Manager can help. We walk you through your goals, determine what data you should be tracking, and set the process in motion so you can be a success.
As a result, she enjoys her business again!
I’ve helped small businesses through growth, plateaus, and decline for over 25 years.
As a Certified OBM®, I focus on management for the entrepreneur who sells services online.
I love helping online businesses grow!
I care about your business and supporting you to move forward.
When you are ready, I can help.
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