A New Year and a new start……
With changes in business that might stay with us for many years to come, such as working from home, virtual meetings and fast changing markets, it is that time of the year to plan ahead and make 2021 a successful year. For a lot of us it means change and working to some tough targets.
It is no surprise that businesses that strategise, plan and implement are most likely to succeed. Hitting those all-important targets is crucial to our success, examples of these can be:
- Revenue (actual v forecast)
- Profit (actual v budgeted)
- Conversions (leads to prospects, prospects to suspects)
- Quality (quantity / percentage of rejects)
- Cost (actual v forecast)
- Delivery performance (late v on time)
- Business ratios
- Staff engagement (days absent v forecast)
It is not just big business that operates to targets, businesses of all shapes and sizes do
A statistic from FranklinCovey:
“The key to engagement is a big, visible, continually updated scoreboard that is compelling to the players”.
Why do we put so much emphasis on the scoreboard? In a recent FranklinCovey survey, we found that 73 percent of the top performers agree with this statement: “Our success measures are visible, accessible, and continually updated.” Only 33 percent of the bottom performers agreed with the statement.
Top performers are thus more than twice as likely to see and interact with some form of compelling scoreboard so they can see if they are winning or not.”
Source: Covey, Sean. 4 Disciplines of Execution (p. 155). Simon & Schuster UK. Kindle Edition.
Here is a case study of people who have achieved great results by using our KPI success thermometer.