DON’T LET A SINGLE METRIC DRIVE YOUR BUSINESS

Metrics are essential to running a business. We all know that. What may not be as obvious, though, is how metrics intersect with your company mission and even employee happiness. Prioritize a single number — to the exclusion of all others — and you’ll invariably leave a lot of people and priorities out.  Instead, it took a constellation of metrics to capture what the business needed to scale and how each team could facilitate that success.  This constellation is made up of three kinds of metrics: quantity, quality, and efficiency. In relationship to each other, they tell the story of your business and allow for prioritization and alignment.  Of your top three metrics, one should become a north star for the business — almost always this will be the quantity metric that you are trying to optimize.  No metric is perfect. But understanding, and regularly reassessing, the relationship between quantity, quality, and efficiency is critical to more deeply understanding your business — and to staying nimble.  Done right, metrics are among the best ways to make people truly understand how their work impacts the business in a positive way.  Read More >>

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