Set Your Business Goals and Indicators: Driving without a Destination or Dashboard Gauges Does Not End Well!
There is so much material about this article's topic on social media and the internet that, rather than offering repetitive explanations, I will limit myself to a few reminders.
A- When you set a goal, make sure the resources needed to achieve it are also available. In other words, do not rely too heavily on other people's money, the law of attraction or shouting your goals out loud :).
B- If you set goals that are too large and ambitious, you may become tired and discouraged along the way. As when climbing a mountain, celebrate at each stopping point.
C- Without measurement and control, you cannot understand how far goals and indicators have been achieved or correct possible problems. Management without measurement and control has no meaning at all!
A driver whose dashboard gauges are broken cannot tell how much fuel remains, whether the cooling system is working properly, and so on.
Measuring and knowing these things allows the driver to take preventive measures before the fuel runs out and leaves the car stranded, or the engine overheats and burns out, preventing an undesirable event or damage.
D- Do not define arbitrary, useless indicators. You will then have to collect large amounts of pointless data and information to calculate them, creating waste and confusion.
When a shop can only make sales through heavy discounting, sales volume alone is misleading. What use are sales that produce no profit?
E- Do not be fooled by the appearance of numbers and indicators: results matter more!
Being the first, the biggest or the winner of an award, presenting colorful charts showing excellent indicators, giving speeches and applauding or cheering yourselves are not enough on their own. You must carefully examine and verify key business results such as profitability, actual customer satisfaction, returned goods and scrap.
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