Know Your Business Measurables
by Al Moscardelli

Know Your Business Measurables

How do you know if your business will hit its goals?

As a business owner, you track a lot of numbers, but do you know which ones mean the most for you? When you know your business measurables and keep tabs on them, you have a better idea of whether you’re on target.

Working ON Your Business

In the day-to-day running of your business, it can get hard to figure out if you’re on track. You put your nose to the grindstone and don’t come up for air. That’s why it’s so important to take time out for quarterly planning sessions to work on your business.

Every 90 days, the leadership team will start to wilt. That’s just human nature, something Gino Wickman talks about a lot in his book Traction. By holding quarterly planning sessions, you reignite the passion and remind your leadership team where you wanted to steer the company. And you have a chance to take stock and make sure your business is still heading in the right direction.

Finding Your Business Measurables

Some metrics will make sense to track, like money in and money out. Inventory, overhead, and man-hours come to mind, too. But there aren’t-one-size-fits-all lists that make sense for everyone. And finding the areas to track that make the most sense for your business takes time.

You start out with a list of things you think you need to track. After 90 days or a couple of cycles in the 90-Day World?, you figure out they may not tell your story. So, you go through a discovery process to find the right things to measure.

I’ve had clients who took a year or more to figure out which ones made the most sense to them. Once you find them though, it’s like striking gold. When you know what to track, the next step is setting goals to show progress towards your goals. Once I knew my business measurables and goals, I started living by them.

Using the Data Component?

The best way to see if you’ve hit your numbers for the quarter is to use the Data Component. As a part of the Six Key Components? in the EOS Model?, the Data Component tracks important measurables on the EOS Scorecard?.

By tracking the five to 15 indicators of business health on your business Scorecard, you have clear data. As they say, the numbers don’t lie.

The numbers on your business Scorecard tell a story about how well you’re doing. They can tell you whether you’re making the right business decisions by the impact on your numbers.

If your team hits their Scorecard numbers, great! Keep doing what you’re doing or think about leveling up. Sometimes you’ll find yourself off target, but by knowing that early you can solve any issues earlier. You can identify, discuss, and solve (IDS?) quickly instead of waiting until you have a big problem.

When clients and I review their numbers, we see whether they’re right on target or falling behind. Sometimes things get off track and we catch a problem early. By knowing their numbers, looking at the EOS Scorecard and checking their measurables, we can objectively see their progress.

How well do you know your numbers?

Next Steps:

  • Download a free chapter of Traction by Gino Wickman.
  • Download the Issues Solving Track? from the EOS Toolbox? to learn how to IDS (Identify, Discuss, and Solve) issues more effectively.
  • Watch this helpful video on leading world-class meetings.


Found this article helpful? Why not drop a comment and share your thoughts.

Jandeep Singh Sethi

| HR Leader & Founder | I help you build your brand and skyrocket audience| 368K+ | Helped 400+ brands on LinkedIn | Organic LinkedIn Growth | Author |900M+ content views | Lead Generation | Influencer Marketing

1 个月

Very informative

回复
Calvin Smith

Amateur Investor | Wannabe Podcast Host | Mediocre Business Operator | Kickass Professional EOS Implementer | Helping Teams Crush Their Goals | Turning vision into reality, one business at a time!

1 个月

I’d like to warmly welcome my newest LinkedIn connections to my network. I hope you find this post valuable. ???? Jim Harp Kari Watson Dennis Mosher Adam Fite Nicholas Stehle Marianna Folden April Roy Andy Hight Have a great day!

回复

要查看或添加评论,请登录

Calvin Smith的更多文章

  • Overly Controlling Your Visionary or Integrator

    Overly Controlling Your Visionary or Integrator

    When you’re a Visionary or Integrator in a dynamically growing company, it‘s natural to be driven and controlling…

    1 条评论
  • LMA? FOR MIDDLE MANAGERS

    LMA? FOR MIDDLE MANAGERS

    When a leadership team creates its first Accountability Chart, they start by identifying the major functions of the…

    2 条评论
  • What the Heck Is GGOTO?

    What the Heck Is GGOTO?

    I have a little ritual with my clients I’d like to share with you. At the start of an annual, quarterly, or Focus Day?…

    2 条评论
  • Yes, HR Should Run on EOS? Too

    Yes, HR Should Run on EOS? Too

    During the past quarter, I kept running into a strange situation that surprised me. I had the same conversation with…

    2 条评论
  • Don’t Delegate Your Genius

    Don’t Delegate Your Genius

    You can’t miss it in the news: nearly every day, another big company (Twitter, Meta, Alphabet, Disney) announces mass…

    3 条评论
  • Naming Your Business’s EOS? Champions

    Naming Your Business’s EOS? Champions

    Change is hard. Convincing people to change takes a special person (aka a champion) to keep insisting the efforts will…

    2 条评论
  • EOS? and Turnover

    EOS? and Turnover

    One of our toughest battles as entrepreneurs can be keeping our best people. As business owners and leaders, most of us…

    1 条评论
  • Mind the Gap

    Mind the Gap

    Train and subway stations often have signs that warn travelers to “mind the gap” (the space between the platform and…

    2 条评论
  • Leadership Secret Sauce

    Leadership Secret Sauce

    Do you have the “leadership secret sauce” that it takes to become a great leader? Not sure? Endless resources and…

    2 条评论
  • IT’S JUST AN ISSUE

    IT’S JUST AN ISSUE

    Words matter, especially the meaning we assign to them. Leaders of companies Running on EOS? occasionally raise…

    2 条评论

社区洞察

其他会员也浏览了