Thursday, February 05, 2009

"You can't wait for inspiration. You have to go after it with a club." Jack London

"Whenever you see a successful business, someone once made a courageous decision." Peter Drucker

"I prefer the errors of enthusiasm to the indifference of wisdom." Anatole France

Today's image: Even In The Quietest Moments II by EvidencE Great shot. Thanks for sharing.

Five things to start doing
in 2009

2. Measure. Mind that powerful old saw "You can't manage what you don't measure." Get serious about keeping score. What's par? Ask the most important question - Why? Discuss, in depth, "what would have to happen" to reach your objectives. Lead and champion the development and careful study of multidimensional real-time measures. This is the first step in creating the standards required to run and grow your enterprise.

For example, when tracking revenue performance develop a variety of metrics. Examine revenue from different and varied points of view beyond the standard practices or accepted measures. In addition to tracking monthly or weekly pacing to goal, capture and study daily sales, daily collections (deposits, DSO). Know your cost of creating an avail and in the process get a deeper, richer understanding of your true cost of sales and the real levers at work. How much it's costing you to produce a rating point in programming is every bit as important as knowing, cold, what buyers are paying sellers - this week - per point.

Develop a "dashboard" and share leading indicators, the metrics, with your team - early and often. Hint: discuss, debate, refine daily.

Measure everything. Study the numbers and over time you'll learn how to "read through them" and improve your performance. Think about the wise counsel of Gary Hamel..."Perspective is worth 10 IQ points."

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