Measure both, even though you are looking for different things and do it different ways. We use metrics and KPIs to measure the performance of outcomes. We often track and evaluate how we execute on objectives.
We get muddled at times over actions and outcomes. It can happen because often both are activities and we get caught up in cause and effect. We want to focus on the outcome. When our focus is better spent on the actions we take that provide the outcomes they enable.
We are probably the most tracked and measured people that ever walked the planet. And if you listen to the internet-of-things people, it’s actually only going to explode from here on it. Yet, awash in a sea of data are we really tuned into what this does for us. Now don’t get me wrong. I’m […]
Outside of your circle of long standing customers it can sometimes be really hard to get solid actionable feedback that can help improve our businesses. Yet, one of the best ways to get quick wins in business is to be able to quickly and proactively respond to constructive feedback before it turns into an escalation that also needs damage repair. It’s also important to not fall into the trap of only listening to the squeaky wheel.
The beauty about traction, is that only after you are achieving it that you really can see that you have it. It’s visible from these data points and metrics gathered over a period of time. Before you have the trend, you are sometimes flaying about trying to find it. It’s at this point that you need to really double down.
Google Analytics (GA) is a powerful tool used to understand trends in behavior of visitors to your website. It helps with understanding whether customers are being pulled in to view further pages (bounce rate), whether the call-to-action on landing pages is effective (goals and funnels) as well as the success of your various marketing campaigns […]
A key business performance metric for startups to track is the months of available cash in the bank. Whether that cash has come out of the pockets of the founders, borrowings or seed funding doesn’t really matter, a key metric for your regular financial report is how the company is using this money and when the money might run out.
The way to do this is to cycle through the process of trying things, take measurements considering a defined success criteria, improve based on insights and try again. It’s also appropriate to abandon a campaign that hasn’t shown enough return on investment over time.