Create Leverage: Using Metrics to Rule Your Results
If you did a thing, and didn’t measure it, did it really happen? Metrics are a critical tool that can be used in every position in life and at work. They keep us focused. They keep us accountable.
But, a metric measured once does not give the same value as a metric measured continually over time. Now you have a trend that gives you a 30,000 foot view of your progress.
Even trends aren’t valuable if you don’t take action. Knowledge is only half the battle. Taking action is where all the time and energy you put into measuring pays off. So, how do you know what action to take?
Identify the lead measures
Lead measures are the little activities that when performed move the the metric in bigs ways. They are levers! Put effort into influencing the lead measure and watch the metric move.
If you are struggling to identify lead measures, take a look at the components of your metric. For example, if the metric is cost to serve one person, it is calculated as Total Expenses/ # of People Served.
Take action
Now that the lead measure has been identified, take action. Let’s use our cost to serve one person example. What can you do to influence total expenses or number of people served?
Make a list. Start testing levers to see which influence the metric the most. Once you’ve dialed in on one or two, apply consistent pressure.
Measure again
Metrics are measured at a point in time. One measurement will not tell you if your actions are moving the metric. Measure using consistent methods over a specified period of time.
Bonus Tip:
To supercharge this effort, bake in accountability by building a scoreboard.
