Monday, July 28, 2008
Do you know right this very moment what performance metrics your business unit is achieving? Use a snapshot performance (daily snapshot) report as the tool that contains the important and volatile numbers, which must be reviewed on a regular and continuous basis for you to achieve successful expense adherence and revenue projection.
What performance metrics do you want to monitor for your business unit on a continuous basis that are the most important and are very volatile for the achievement of operational and sales success? Also ask yourself what kind of precise micromanagement report you want, to whom should this report go to, and when and how often should this report be viewed when determining your businesses function and achievement ability.
On no more than a couple of 8½x11-inch pieces of paper, have a “snapshot” of the top five to ten critical statistical metrics that determine your business unit’s success available with comparisons for your daily morning review. If you do not have this report, you cannot be proactive in management. With a daily statistical data sheet, you have the ability to spot trends, and thus, small corrections in the operations or sales can be initiated to neutralize the adverse effect of any negative component. When you have daily statistical sheets that are simple, to the point, and full of the “most critical” metrics that you need, you can guide your business unit daily, which will lead to greater achievements of the business unit’s budget and stretch goals. Focus on managing your business unit today, so that today will be tomorrow and tomorrow will be your everything.