Every day in business we engage in operational activities.
We sell to customers (hopefully!), we pay our bills (if we’re being good!), we engage in meetings, we up-skill our teams, we stress over a particular problem (or perhaps two!).
Regardless of the business, we all do the above along with a whole lot more.
But how do we measure how effective we are?
The most boring topic in the world can play a part, but the concept of measurement moves beyond project management.
Every aspect of business can be measured to greater or lesser extents. The more it costs a business to perform a function, the closer it should be measured.
Sales teams have targets. Their success is critical to driving the success of a business. Chances are, this is being measured and monitored as it’s easy to measure. Sales targets are being met or they’re not.
But there are other aspects of business that should be measured as well;
Perhaps some of the following;
- Customer satisfaction: perhaps there are surveys being conducted. How is the business measuring whether things are getting better or worse?
- Cost of delivery: Examining the costs of delivering a business’ product or service. Is it going down or up? Could the business be getting better value so it can either achieve better margins of pass on the savings to customers.
- Quality: Is the business delivering to its quality standards every time it delivers a product or service. Are those standards getting better? Or are they slipping?
- Staff satisfaction: Has the business a contented work force? Are they being trained? Are they embracing the business ideals and methods? Could the business be doing things differently to improve the staff engagement?
The list can be as short or long as a business needs. The measures are specific to that business. The targets are specific to that business.
The trick is making sure that the business is actually doing that measurement.
How do you measure your business’ performance?
Photo: The bridge