MEASURE AND FOCUS ON WHAT MATTERS

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Education & Training with Performance Development Strategies

 “If you can’t measure it you can’t manage it.” If you want to have a sustainable business you need to have a strategic plan, which includes key 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 a plan and executing it.  There are many business measures and these vary based on the business.  This could include everything from success of advertising campains to farming metholds.  These should be tracked for obvious reasons in order to know what works and what doesn't work.  Wouldn't you agree, however, that these are measurements of things that happened in the past.  They will help you plan the future. But, only some may be predictive of the future but some might not.  Make sure you know what predicts the future.

Predictive analytics is the best way to step in and create your business future. It is far better to rely on predictive measurements to make decisions than to rely solely on measurements of the past.

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 or a team of agents 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 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.

 

businessuccess

This process really works. History has shown that businesses that have written goals, and measure and track those goals will outperform the competition.

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

For a similar post on our web site see PREDICTIVE MEASURES CAN CREATE BUSINESS SUCCESS.

Learn how you can create the future for your business.

Contact us to learn more

or call 914-953-4458.

 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Sally K. & David L. Hanson 04/15/2019 03:05 AM
  2. Roy Kelley 05/20/2019 01:00 AM
Topic:
Real Estate Best Practices
Location:
New York Westchester County
Groups:
Coaching and Mentoring
Tags:
business coaching in westchester county ny
predictive measurement
business metric

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Rainmaker
2,933,125
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Great post, Grant. Loved your comment about customer loyalty being a harbinger of future business.

Apr 15, 2019 04:15 AM #4
Rainmaker
3,750,385
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Grant Schneider,

Excellent post because your message is simple to understand and if you're not making a business plan and setting realistic goals you are in trouble. Focusing on them and measuring them is the only way you can make adjustments along the way and attain your goals or exceed them.

Apr 15, 2019 05:13 AM #5
Rainmaker
3,482,999
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Grant. You have brought your focus to this post and it is clear and specific.

Apr 15, 2019 05:18 AM #6
Rainmaker
5,214,607
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much, Grant, for sharing your experience and your advice.

Apr 15, 2019 05:53 AM #7
Rainmaker
1,823,199
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Sally and David - thanks so much.  I appreciate your support.

Wayne - thank you.  I hope they do.

Barbara - yes, simple.  Important that it is done.

Nina - kudos to you.  You have that one.

Dorie - sounds simple enough as long as it is done.

Sheila - thank you.  I appreciate that.

Roy - thank you for your support.

Apr 15, 2019 06:26 AM #8
Rainmaker
3,034,985
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Love the start of it Grant, If you can't measure it you can't mange it!  I have to put that up on my Board.

 

Apr 15, 2019 07:35 AM #9
Ambassador
1,789,084
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

We got two referrals over the weekend...from out SOI. For us, customer loyalty is our gold...super servicing them as clients first, and then continuing to foster a warm and natural relationship after the sale is critical. 

Thanks for another post with great ( and smart ) advice. Have a wonderful Monday, Grant. D

Apr 15, 2019 10:16 AM #10
Rainmaker
1,823,199
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Will - thanks for posting on your board!

Debb and Bernie - That customer loyalty is so important.  Best advertising.

Apr 15, 2019 11:20 AM #11
Rainmaker
2,799,742
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Grant.

My dashboard did not reach its goal last year.  I'm poised to hit it by the second week of next month.  That tells me I need to reach another goal for this year.  

Apr 16, 2019 12:38 AM #12
Rainmaker
1,823,199
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

James - that really sounds like you have been having a good year.  Glad to hear.

Apr 16, 2019 04:15 AM #13
Rainmaker
1,505,754
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Alexandria Virginia Homes For Sale

Grant, your advice is always spot on. I don't want to think about how many marketing dollars I wasted early on because I wasn't measuring ROI. Fortunately, I learned from my mistakes. If I can't measure it, it's not going to be a part of my plan. 

Apr 16, 2019 05:28 AM #14
Rainmaker
2,412,109
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I am all about focusing on what matters, so I am definitely proud to be a member of Arizona Focus Realty!

Apr 16, 2019 12:34 PM #15
Ambassador
3,722,364
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Grant you have a talent for simplifying a message, but still keep it relevant and meaningful.

Apr 16, 2019 03:40 PM #16
Rainmaker
1,823,199
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Amanda - that goes ditto for me.  We learn from mistakes.

Brian - that is awesome and it does show.

George - thank you. I really appreciate that.

Apr 17, 2019 06:19 AM #17
Rainmaker
925,594
Ron Marshall
Marshall Enterprises - Saint Michael, MN
Birdhouse Builder Extraordinaire

These are certainly words of wisdom, Grant.  Measurements are important to the success of any endeavour.

Apr 17, 2019 12:21 PM #18
Rainmaker
1,823,199
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Ron - very true.  You can manage if you don't measure.

Apr 18, 2019 03:06 AM #19
Ambassador
3,744,155
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

HI Grant- we have to have a way to know what we're doing is getting us somewhere, whether in life or business!!!  Your posts are always so easy to read and follow. 

Apr 20, 2019 03:18 PM #20
Rainmaker
1,823,199
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Kathy - having the way to know that give us our gps to rely upon.

Apr 21, 2019 06:07 AM #21
Rainmaker
2,086,322
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Excellent information, as usual, Grant!

Very useful for anyone interested in success!

Apr 25, 2019 08:08 AM #22
Rainmaker
3,146,426
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Grant so glad I stumbled on this fantastic post of yours, sorry I missed it the first time around, clearly this should have been Featured but I know those buttons are missing and sometimes the Feature Ferry is sleeping....Endre

May 05, 2019 11:32 PM #23
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