To Grow Faster, Track Your Metrics

One of the most powerful tools available to every business leader is to simply track what works. Too many entrepreneurs and busy professionals get so caught up in building the business and making sales, that they forget to track the 'measurables' that tell whether they are actually making progress.

Tracking your results is one of those 'details' that many entrepreneurs try to avoid. Entrepreneurs love to build the business, create new products, make sales and pursue their vision. Professionals often get caught in their love of the work. They enjoy their practice of law, medicine, sales or investing. They love the interaction with clients, and forget to track the 'measurables'.

Every business has a few key measurables. Typically, these include sales and profits. They may include inventory, cash- flow, Accounts Payable or Receivable, employee turn-over or other items. Usually, there are only a handful of critical items, but tracking them is essential.

I am a visual person and while I track most of my key business metrics on the computer, we post them on large charts around the office. I want to see our monthly progress every time I open the door. I want to be reminded of our key projects and the next 'big thing' whenever I look up from my desk. You may have a different system, but find YOUR way of tracking the numbers that tell you how you're doing.

I wrote an article, the 'Top 10 Metrics for Business Success' and you (and your friends and colleagues) can get it FREE by sending an email to: Metrics@philiphumbert.com (or Metrics(at)philiphumbert.com). It will be sent to your inbox immediately.

Copyright (c) 2003, all rights reserved. U.S. Library of Congress ISSN: 1529-059X From The Innovative Professional's (TIP's) Letter Sunday, March 16, 2003 Written & Published by Philip E. Humbert, PhD Contact him at: www.philiphumbert.com or email Coach@philiphumbert.com