How do you measure your results?
For those of us in sales, the answer is simple (yet probably incomplete) - revenue. But there's more.
For those of us in operations the answer is also easy (and also incomplete) - reducing expenses. That probably includes doing what you do faster, better, and cheaper.
Whatever your job, and in whatever field - for profit or not-for-profit, your organization is directly impacted by five key measures. Five financial levers that determine the health or struggles of your team.
Revenue - the money you bring in. Gloriously, this number is unlimited.
Expenses - managing the money that you spend to stay in existence and produce what you do.
Customer Happiness - more than satisfaction the best organizations determine how they can delight their customers and bring joy into their lives. What better way to create repeat business?
Team Member Happiness - because happy team members are productive team members and tend to stay with your team much longer. Also, it just feels much better.
Compliance -- obeying the law, following the rules of your governing bodies, staying ethical and true to your organization's values.
Five Financial measures that any high performance leader must pay attention to and determine how the team will deliver on the positive side of those measures.
What's your team's biggest impact?
Do they know? Are you telling your team what to focus on?
It's easy to measure hundreds of things. We live in a time of big data, plentiful data, detailed data. We can measure anything. Are you measure the right things? Are you measuring -- and communicating to your team -- how you are doing on the financial five?
-- Douglas Brent Smith
Front Range Leadership: Fast, Affordable Leadership Training
For those of us in sales, the answer is simple (yet probably incomplete) - revenue. But there's more.
For those of us in operations the answer is also easy (and also incomplete) - reducing expenses. That probably includes doing what you do faster, better, and cheaper.
Whatever your job, and in whatever field - for profit or not-for-profit, your organization is directly impacted by five key measures. Five financial levers that determine the health or struggles of your team.
Revenue - the money you bring in. Gloriously, this number is unlimited.
Expenses - managing the money that you spend to stay in existence and produce what you do.
Customer Happiness - more than satisfaction the best organizations determine how they can delight their customers and bring joy into their lives. What better way to create repeat business?
Team Member Happiness - because happy team members are productive team members and tend to stay with your team much longer. Also, it just feels much better.
Compliance -- obeying the law, following the rules of your governing bodies, staying ethical and true to your organization's values.
Five Financial measures that any high performance leader must pay attention to and determine how the team will deliver on the positive side of those measures.
What's your team's biggest impact?
Do they know? Are you telling your team what to focus on?
It's easy to measure hundreds of things. We live in a time of big data, plentiful data, detailed data. We can measure anything. Are you measure the right things? Are you measuring -- and communicating to your team -- how you are doing on the financial five?
-- Douglas Brent Smith
Front Range Leadership: Fast, Affordable Leadership Training
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