HOW IS IT GOING TO BE MEASURED?

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Education & Training with Performance Development Strategies

How is this going to be measured?  How does this relate your your goals and objectives?

You may have heard the expression, “If you can’t measure it you can’t manage it” Well, if you want to have a sustainable business you need to have a strategic plan, which includes those goals and objectives, and a way to measure your progress.  Without these elements you are relying solely on luck.

What you measure is just as important as having and plan and executing it.  For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit.  That, however, is a measure of what has happened in the past.  It may not predict what will happen in the future.

Using measurements that predict whether you are on the right track and will predict and shape your future are far more effective than relying on measurements of what has already happened.  Let’s start with the measurement of customer loyalty.  Customer loyalty is the measurement of how likely customers are to recommend your product or services to others.  Customer loyalty has a direct correlation to future sales and profits.

Another forward-looking measurement is networking and lead development.  What is the activity and frequency of activity that is required to have one conversion to a sale?  It is important for you to measure the rate of activity that you need to get desired sales results.  This rate of activity varies by industry, business, and business owner.  It is important to track your sales development activities to determine the right level of activity to achieve acceptable results.

It is important to measure the results of your marketing and advertising activity.  Business owners can waste substantial amounts of money on unfocused marketing and advertising.  Before creating a marketing strategy make sure that there are measurements such as web site visits, converted sales, response to mailing, and the like.

If you have employees, make sure you measure the effectiveness of your workforce.  This is done through clear description of duties and then holding your employees accountable for achievement of goals.  Also, you should measure your staff engagement which is the employee side of your customer loyalty measurement.

Organize all the measurements that matter to your business results into one area and create a “dashboard” to monitor overall results.   This serves the same purpose as your car’s dashboard.  It is an overview to let you know about any malfunctions.  You keep a dashboard to measure your performance against the goals you have set.  In addition, you use it to track trends and make necessary adjustments in activities as needed.

 

 

This process really works.  History has shown that businesses that have written goals, and measure and track those goals will outperform the competition.  Please read a similar post on our web site titled IF YOU CAN'T MEASURE IT YOU CAN'T MANAGE IT.

Are you ready to take your business to the next level in 2018?

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 Are you a Westchester Business that qualifies for a special program for entrepreneurs?

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or call 914-953-4458.

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Tony and Suzanne Marriott, Associate Brokers 12/04/2017 03:58 AM
  2. Debbie Reynolds 12/09/2017 06:00 AM
Topic:
ActiveRain Community
Location:
New York Westchester County
Groups:
Coaching and Mentoring
Westchester County
Tags:
business coaching in armonk ny
creating a business plan in westchester ny
taking your westchester ny business to the next level

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Rainmaker
1,366,703
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Roy - thank you.  It is timely as well.

Dec 06, 2017 08:47 AM #19
Rainmaker
3,221,616
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Grant

Your insight is right on point . . . . Thanks for sharing it.

Good luck and success.

Lou Ludwig

Dec 06, 2017 06:34 PM #20
Rainmaker
1,366,703
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Lou - thank you that really means a lot to me. 

Dec 07, 2017 07:00 AM #21
Ambassador
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Getting leads is step one but knowing how to develop them is the real secret sauce. Good article, Grant.

Dec 08, 2017 08:03 PM #22
Rainmaker
3,201,119
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Grant Schneider ,

I'm so glad that Debbie Reynolds re-blogged your post. I read it before and thought for sure I'd see a gold star. The AR Gods must be sleeping or out Christmas shopping.

Dec 09, 2017 06:52 AM #23
Rainmaker
1,366,703
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Debbie Reynolds -  and that is really one very good example.  People spend time talking about leads and website hits BUT what was the results.

Dorie Dillard - Dorie thank you so much.  Your comments means so much to me.

Dec 09, 2017 08:58 AM #24
Ambassador
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Dec 09, 2017 05:31 PM #25
Rainmaker
2,734,450
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Grant. You are always focused and thoughtful. Excellent points.

Dec 10, 2017 06:09 AM #26
Rainmaker
2,543,644
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

I can see why Kathy chose to highlight your post this week!  Nicely done!

Dec 10, 2017 06:28 AM #27
Rainmaker
1,366,703
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Kathy Streib -- thank you very much.  I am honored.

Sheila Anderson - thank you.  That means so much to me.

Kristin Johnston - REALTOR® - thank you very much.

 

 

Dec 10, 2017 06:45 AM #28
Ambassador
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Grant

As you always do you offer some vital information for business owners! I missed this but was glad to see that Kathy Streib  featured it! Thanks!

Jeff

Dec 10, 2017 08:31 AM #29
Ambassador
1,398,039
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi Grant, more words of wisdom from the Master. Goals and planning and checking to stay on track have to be part of our business activities - in fact, we are reassessing where all of our sales originated from this year - and making sure we are putting most of our energy there...

Dec 10, 2017 08:47 AM #30
Rainmaker
1,366,703
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Jeff - I really appreciate that Kathy did.  Thanks for reading.

Debb and Bernie - what you are doing is an excellent example of measuring and analyzing.

Dec 10, 2017 12:31 PM #31
Ambassador
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Grant,

Very well written post my friend and bookmark worthy.

Dec 10, 2017 01:48 PM #32
Rainmaker
3,708,277
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always give good advice . Thank you for the inspiration

Dec 10, 2017 02:35 PM #33
Rainmaker
1,366,703
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Vegas Bob - thank you for bookmarking.

Gita - I appreciate that.

Dec 11, 2017 05:48 AM #34
Rainmaker
785,011
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Some offices they start the year with a yard stick. You specify your goals and measure yourself. I am not that goal oriented as there are many things beyong one's control. 

Dec 11, 2017 02:00 PM #35
Rainmaker
1,310,441
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Grant Schneider , this is a great post and very timely. Goals that are not written are just wishes.

Dec 11, 2017 03:39 PM #36
Rainmaker
2,472,814
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Measuring can be tricky but well worth it in the end. It’s a special skill at some point.

Dec 11, 2017 08:22 PM #37
Rainmaker
1,366,703
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Gita - thank you.

Sam - well I would say work on the things you control.

Beth - that is right their must be a measurable action plan.

Laura - yes, very important in the end.

Dec 12, 2017 03:03 AM #38
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