How do you know when you have momentum happening in your business?
Seems like a silly question, doesn’t it?
Well, not really! It depends on what type of momentum you are seeking.
Momentum takes all shapes and forms.
A business owner will want to watch key metrics on the business:
- Sales revenue, monthly, quarterly and annually
- Number of new customers added monthly, quarterly and annually
- Cash flow
- Number of prospects in the pipeline
Some of these metrics are known as leading metrics – those you can affect as each time frame unfolds.
Or some of the metrics are lagging metrics — those that measure what happened, such as sales or profit volume.
For example, if your sales levels are not as high as you would like ….. or are high one month and low the next, then the metrics you should be concerned with — are the leading metrics, those that you can control.
Metrics for your business.
Which ones determine the health of your business? Though a focused discussion, I can help you to determine which 5-7 have extreme meaning for your business.
Momentum is affected by your metrics.
It is also affected by how consistent are your actions. If you start and stop your actions, then your results have the same effect.
How can you protect your momentum?
Eliminate the distractions.
Stay focused on the end goal.
Take some action every day.