Counting Medals and Keeping Score
What is it about Americans, The Olympics and the Medal Count?
The world is currently focusing its attention on Russia where we will watch as the winter Olympics unfold. We will watch athletes compete at the highest level for Gold, Silver and Bronze medals. Every time a match is won, a race is finished, an event is completed – the announcer will provide a tally of medals by country.
The tally, or keeping score, is not just for the Olympics. In our businesses, we need to look for ways to track and measure and look to the numbers to provide us valuable insight into our progress. Forward thinking business owners are skilled at measuring the key indicators in their business. They understand the power of keeping score.
We Americans will watch closely as we battle with Norway, Canada and Germany for the top spot in the medal count. Our pride is at stake.
In each of our businesses, we should also be measuring daily and focus on leading indicators – those numbers that allow us to look forward and ultimately drive customers, revenues and profits. There are five key numbers that every business needs to measure: number of leads, conversion rate, number of transactions, transaction value and margin.
Whether it is a medal count or key performance indicators in our business, they tell a story and allow us to track progress and ultimately measure our progress forward.
YOUR CHALLENGE THIS WEEK: Look at the numbers you are tracking in your business and how you are using them to propel your business forward.
If you would like to learn more about how this might apply to your business, let’s talk:
