Why having business Metrics for you & employees?

For a lot of businesses, having a goal is important to its growth. But, how many actually have metrics to make sure they are on target for those goals? The answer is not many. This is not because they don’t want to do it. It is more so because (1) companies don’t understand the importance of having metrics, (2) don’t have the money to set them to have checks and balances to ensure they meet them; (3) don’t have proper repercussions for those who don’t follow them; and (4) don’t have a system to update them. 

Yes, this is a lot!  But, if you are in business for yourself, you will quickly realize that you can spend your wheels doing a lot. And some of these things may be important. However, years later, you might find they aren’t all that important.

It is tempting to go into the office and just start putting out fires. But, we need to be cautious of doing this because those fires can distract you form the overall purpose. Not having paper towels in the restroom is important, but not paying the utilities is even more important.

So it is important to prioritize, put metrics in place. Not only for yourself, but your employees to ensure that you are inline with your goals for the company.

How do you do this? The answer is simple, start with the goals in mind and work backwards. If you want to make a million dollars a year, start with ‘how.’ Then break that into monthly installments attached to the ‘how.’ Then into weekly, daily, and hourly. I know this sounds simple, but this will help tremendously.

Takeaways:

Having business metrics for your business helps keep you on track of your yearly goals. To set these metrics, start with your end goals and work backwards.

~  Attorney Ronnie O’Brien Rice, Ph.D.

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Website:  www.RonnieORice.com

 

Location: Alabama, USA

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