What metrics do you track when tangible results are in the future? It’s important to have goals but setting a goal without a clear action plan is usually a plan for failure. And there are times when it just isn’t possible to measure progress in a meaningful timeframe. That’s why it is also important, and in some cases critical, to measure inputs.
I have several clients with very successful sales organizations. Particularly when they hire new people, they focus on measuring inputs. There’s really not another choice. Otherwise, you find yourself measuring sales and there are certain circumstances where that can be a long game. Let’s say it’s six months. Do you mark “no” on the “did the new person get a sale today?” checkbox and see a trend of failure before the first success? That’s counterproductive.
But you can measure the inputs. Did they make calls? Schedule opening appointments? Research new markets? Follow up on leads? If you trust the process, then you can measure the inputs and have confidence that positive results will follow.
There are a number of endeavors where there is a lot of input before being able to measure success. Think about the R&D process, for example. There is a lot of trial and error before success. And in the case of R&D, it’s not only about having good inputs it’s also about adopting an attitude of learning from failure. Everything that doesn’t work can be used to help provide information about what might work.
Athletics is another great example. If the goal is to win an event, the athlete can’t simply wait to measure their performance on one or even a series of events. They need to measure and track the inputs which is their training regimen, nutrition, and recovery. Maybe they can measure performance goals along the way, but make no mistake, it’s the inputs that are key to success.
I recently established a new personal goal. To be clear, it wasn’t a New Year’s Resolution. I don’t do those as they’re usually a flash in the pan. But since I expect true results to take some time, what I can measure is daily activity. If I commit to doing a few things every day in pursuit of the goal, then I have faith that I can obtain it. And if I measure and record the inputs daily, that will serve to keep me on track.
Welcome to 2024; with about 8.5% of the year already behind us let’s focus on making the remaining 91.5% the best it can be! What inputs are you tracking this year?
If your business could benefit from fractional CFO services, I would welcome the chance to speak with you. Please give me a call at (314) 863-6637 or send an email to [email protected]
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your cash is flowing. know where.®
Ken Homza
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