Have you heard the saying: what is not measured cannot be managed or improved? The idea behind it is that it’s only when you start tracking important metrics in your business that you can start seeing any kind of progress.
Jannie Rossouw, head of Sanlam Business Market gives advice for what you should be measuring – from your sales leads and conversion rates to planning and preparation and how these actions can also free up time to spend where it matters most.
What are the main elements you want to monitor and manage in your business? In big business it is called a “balanced scorecard”. I wish to refer to it as a “business dashboard”.
Some elements to consider are:
We have all attended and even chaired meetings which goes nowhere, is counter-productive and do not stay within the confined timelines. Make sure all the meetings you attend and chair meet the following guidelines:
These points might be conventional wisdom at its best, but in my experience most meetings lack this structure.
These business processes are the ones where your intervention is needed, e.g. invoicing, payments, approvals and quality assurance. There might be more efficient ways to address the tasks without your direct intervention. Identify the elements which you can delegate, with the appropriate authority, mechanise with a technology implementation or manage by exception.
About 25% of us are organised by nature; the rest of us have room for improvement. To be organised can be very empowering. Think of:
To support business owners with the important task of business planning, Sanlam gives you free access to the book Your Annual Business Game Plan for Success, which provides an easy and straightforward framework needed to draft a well-crafted game plan that will create the positive change and growth necessary for business success.
Go to www.sanlamgameplan.co.za to download your free copy.