To get your business to where you want it to be you need a scoreboard.
In business, like in sports, the scoreboard reveals whether you’re winning or losing. Without knowing your key numbers, you’re flying blind, unable to identify strengths, weaknesses, or opportunities. To succeed, you need to understand the metrics that drive your performance.
Your scoreboard shouldn’t be too complicated.
What are the most important things you can measure in your business?
What would you measure to move your business forward?
For example, you may know that we own a Tuition Business.
So what should we be measuring?
Enquiries.
Appointments booked.
Appointments attended.
Lessons booked.
Lessons attended.
Five might be too many for your business. You get to decide.
And we have to work it backwards of course.
How many customers do we need in our business to maintain our lifestyle?
It’s worth thinking about.
“If you can’t read the scoreboard, you don’t know the score.
If you don’t know the score, you can’t tell the winners from the losers.”
Warren Buffett.
Business is a numbers game. By tracking and understanding these metrics, you’ll know the score—and more importantly, how to win.
