There are 10 Reasons to Measure things and adopt performance measurements in your business. These reasons are fairly simple to understand, and more difficult to implement, but stay with me for a minute. Before we get to the 10 Reasons let’s cover a few important elements and answer a few questions.
When was the last time you measured efficiency and effectiveness of your resources in business?
Measure everything in business. The fundamental purpose behind measuring is to improve performance. Knowing your Resources are is key.
In order for an organization to evaluate performance it requires (benchmarks) to compare its actual performance against past performance.
What if we could measure efficiencies within a certain business discipline? You can, and you should do this NOW…
What if we could show where our Resources are deployed and how effective they actually are? You can…you just need the right tools.
What if we could illustrate how effective our Resources are, and do this without spending more capital?
The 10 REasons to measure things in your business are:
1. To Strategize
2. To Evaluate
3. To Control
4. To Visualize
5. To Budget
6. To Motivate
7. To Celebrate
8. To Promote
9. To Learn
10. To Improve
You can measure these things within your own enterprise, but the key is to LEVERAGE and MAXIMIZE your Resources. You can measure how mature a discipline is within your company, and you will have many. You can get a snapshot of where your Resources are deployed, and how mature each discipline is. A discipline can be Sales, Marketing, Finance, HR, Strategic Planning, Social Media Strategy, etc.
So, I have to ask you the basic question “How’s your ROR?”
No not, ROI, but ROR…Return on Resources. Do you know where they are deployed and how effective (or not) they are? Or, how efficient (or not) they are?
All of these things make up the term the e3 (e-cubed) factor…Efficient, Effective, Execution. I love talking about these three things in business…in fact they are so important to me that I named my company e3 Factor.
The normal business focus is to milk every cash flow dollar for everything its worth…keeping costs down; bootstrapping; pumping everything back into the business; avoiding “luxury” items, and so forth.
Think of a new consideration: Measuring your Resources may be the cheapest strategic and competitive edge you have in business. You will find hidden treasures in your business as you measure and ask the right questions.
I have developed a business assessment tool that accomplishes this, and provides a beautiful snapshot of where each resource is deployed in each of the disciplines in your enterprise. If you would like to know more about this service, take a look at my website, or call and we can discuss how your business can take advantage of launching your company into the stratosphere by shifting your Resources to completely and fully maximized, and optimized!