Category - Measurement

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Growing Your Business – Measure Everything
Business Performance Measures
How To Implement Your Plan Successfully

Growing Your Business – Measure Everything

We have completed our series of blog posts on starting your small business, but if you have missed any of those articles and you want to teach yourself about the steps to take when you are starting a small business, I’ll put the links to those articles at the end of this post.

Today we are starting our series on growing your small business. Having started successfully, you are not turning your attention to growing your business.

One of your most important tasks of this stage is to set yourself milestones in the growth of your business so that you can recognise when you have reached various points of success. When should I hire more staff? When will reach a point in my profits when I can invest in more equipment? When do I start paying off my startup loan? When should I look to open a new store?

These are the types of questions you should identify answers to at the start of your growth so that you can recognise them and know what to do next.

This is why one of your most important tasks, other than writing your Strategic and Business Plans, is to measure everything.

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Business Performance Measures

Businesses need measurements. People need measurements.

Without appropriate measurements, how do you know if your business, or your employees, are effective, successful and doing what is supposed to be done?

Determining what to measure can take a lot of consideration, and yet it will probably be only a fraction of the time required to implement the measurement system. However, this investment in time, energy and money will reward you when you can actually see if improvements in sales are caused by new strategies or changes to operations; when you receive early warning about problems from warnings in measurement reports; from understanding what drives the business and what levers to pull to get desired results.

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How To Implement Your Plan Successfully

If you’ve been following my blog posts, you’ll have seen that I have given you systems to prepare your business plan, along with implementable tools and procedures to move from a compelling vision to actions.

Yet, I still get many questions about how you actually implement your plan successfully. People tell me that while they have followed my training and been able to create practical business plans, the difficulty is in keeping up momentum when they start to implement the plan.

In order to keep up the momentum weeks into the implementation, you need to be able to “see” where you are up to and what you have achieved. That way, you are able to gauge your success, adjust accordingly, and quickly understand what is your next step.

So what’s the secret? Read More

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