You're Watching The Wrong Number

4 Thoughts

1. More data doesn't always mean more clarity.
   You can measure everything and still have no clue what to do next.

2. The right metric depends on the business.
   There isn't one magic number that works for everyone.

3. Numbers should lead to decisions.
   Otherwise you're just staring at a scoreboard.

4. What you measure gets your attention.
   Make sure you're paying attention to something that actually matters.

4 Lessons

1. Start with the outcome.
   Know what you're trying to accomplish before deciding what to measure.

2. Track numbers you can act on.
   Useful information should help you make better decisions.

3. Don't let vanity metrics fool you.
   A number can look impressive without making the business stronger.

4. Keep the scoreboard simple.
   You don't need 47 numbers screaming at you every morning.

4 Challenges

1. If you could only track one metric in your business, what would it be?
   And more importantly, why?

2. Look at the numbers you're currently tracking.
   Which ones actually change the decisions you make?

3. Find one metric you're watching mostly because you've always watched it.
   Ask yourself if it still deserves your attention.

4. Read Magician vs Mule.
   As you go through it, look at where you're thinking like the owner who focuses on leverage and results versus the mule who stays buried in activity.

Quote of the Week

"What gets measured gets managed." - Peter Drucker

You don't need more numbers.

You need the right numbers helping you make better decisions.

Know what matters.

Watch it.

Act on it.