One of the most important parts of any strategic plan is the implementation of that plan. Without implementing what you’ve laid out, all you’ve really done is a nice exercise in philosophy.
A key to implementation is measuring results. A common question I hear is “but what do I measure?”
The answer may sound simple, but it’s true - measure what’s important. That could mean profit and loss, new clients, contacts made, revenue for the quarter, etc.
Determine what’s important based on your goals. Your goals dictate what you need to measure.
Once you’ve determined what to measure, many business owners find that compiling those measurements in an up-to-date fashion, like a dashboard, is very effective in knowing whether the business is on track with it’s goals.
Exit questions - what are you strategic goals? What do you need to measure? How are you measuring results? How about activities? What measurements are important to know for your business?
[...] they measure, not just results, but more importantly activity and key indicators. I wrote a short article about this idea. Here’s a couple of the [...]