Why Metrics Are Important

“You cannot measure what you do not know” is a business axiom that is frequently overlooked and in some cases completely ignored. Often the entrepreneurial mindset is the “shoot from the hip” mentality. By nature entrepreneurs are creative thinkers and frequently push the envelope on conventional thinking and operate outside of the box. This type of attitude and thinking is very powerful, if it is channeled properly. The key is being able to harness this creative energy and then execute on it.

In professional sports, statistics and benchmarks is everything. Football draft choices are refined to a point that the difference between a first round and third round draft pick is a few hundredths of a second in the 40 yard dash or the ratios of passes thrown to interceptions. Metrics are used as a standard for predicting future success.

As we focus on reaching profitability this year, the varying degrees of success will be measured by how well the metrics of your business are defined and implemented.
The regional meeting will focus on five key component of benchmarking your metrics:

1. Defining
2. Executing
3. Measuring
4. Refining
5. Redefining

The objective for the next year is to focus on our daily metrics, execution and achieving profitability.