Metrics that ACTUALLY get results!
In my business coaching practice, we stress the need to measure the things that matter. Not too many things and not too few, but the right blend of metrics.
In Metronomics, the system that I use in my coaching practice, we use two types of metrics: Fiscal and Non-fiscal metrics. We call the non-fiscal metrics “Widgets.” Widgets are the things that your team members can project and count that align with your priorities AND allow that team member to know whether they have had a successful day, week, or month.
In a call last week with one of my CEO clients, we discussed their progress toward their revenue goal. They have a gap of $1.3 million. As we discussed it, he shared that they had analyzed the number and broke it down to… you guessed it… the widget.
He calculated the average work order size and determined how many work orders they needed to close the gap. He then divided that by the number of reps they had, which is 4, and the number of work orders each rep needed to close the gap for the quarter, which is 13 each. Each quarter has 13 weeks, so the result is that if each rep books one new work order per week in the quarter, they will close the gap.
You see, the widget is so powerful in this way. A $1.3 million problem is easily overcome with 1 work order per week by each rep. In fact, as we talked, he believes in the power of his team and feels they can easily close this gap and potentially double it… simply by closing 2 work orders per week.
What metrics are you using to measure your progress? What is your “Widget”?
Reach out if you want to talk about your Widget.
Coach Keith
#businesscoaching #metronomics #metrics #strategy #widgets #goals