What can you measure?
Almost anything that you can assign a number, ratio or % to. Some examples (in
no way exhaustive) - the scope is limitless.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Best Practice
- Define your mission and goals.
- Use your goals to derive strategy - if you struggle here, talk to SPS.
- From your strategy, you can create the plans for the required initiatives. Think
in terms of:
- Protecting what you have
- Growth
- New customers
- New products and services
- New markets
- Preparation for change
- Change
- Work with your team(s) to ensure buy-in.
- From your improvement initiatives you can derive your measures.
- Delegate measurement and reporting to the people owning the process being measured.
- Charts and graphs work better than a sea of numbers.
Health Warnings
- Introduce new measures at a pace you are sure people can be comfortable with – not all at once.
- Beware unintended consequences – for example:
- Measure, incentivise and reward on new business only – and your existing clients will be neglected.
- Overburdening yourself or others with administration leads to resentment or measures falling into disrepair.
- Dictating measures and issuing reports – leads to you alienating your team - involve people in defining their measures.
- Make sure that your measures are balanced (Research "Balanced Scorecards" - or ask SPS to advise) – that is they act equally on all business aspects (customer, people, process, financial).
Remember the old adage?
You get what you measure.
SPS is a nationwide partnership of experienced business people actively assisting
business owners and managers to build real value in their companies. We have a
wide range of practical experience you can call upon and are different from others
because we have all worked at board level. Many of us have owned and successfully
developed our own businesses. We do not write reports telling you how to run your
business. We work alongside you to develop and implement winning strategies.