Measuring Your Progress: The Importance of Tracking Results in Business
Jennifer Drago The Peak to Profit method helps business leaders develop a roadmap for growth by providing a defined strategy, goals and tools to measure progress.
In this video, I explain the Peak to Profit framework, our signature method for providing business leaders with a defined strategy, goals, and tools to implement the strategy while measuring their progress along the way.
The "A" in the PEAK framework stands for "analysis." As we know, in business, what gets measured matters. Some business owners may still shy away from measuring and tracking their results, but it's important as business leaders to measure certain things in our business so that we can better manage it.
I recommend that business leaders have three kinds of dashboards for their business to track results over time: a strategic dashboard, an operational dashboard, and a financial dashboard.
The strategic dashboard should track goals and tactics with stoplight colors to show progress. The operational dashboard should track key metrics specific to the business, such as audience or client metrics. The financial dashboard should track financial data, such as revenue, expenses, and profits.
In this video, I explain why it's important to monitor these dashboards on a monthly basis to give a clear understanding of how the business is doing and whether it is moving towards meeting goals and the vision.
Do you want strategic guidance for your business with no strings attached? Schedule a free strategy session with me at www.tidycal.com/jenniferdrago/strategy-session.