Business Growth Acceleration Tool #2: Business Growth Indicators

How do we know if something is working? Because we can see the output / results.   We know a car engine works because we can see that it propels the car forward. We know a blender in the kitchen works because we put food in it and it blends them together. We know fitness training is working because we are able to do the same activity for longer, or we’re able to do it faster or we recover to resting heart rate quicker.   So how do we know if initiatives in our businesses are working? It’s also through seeing results. But the only way we can see results is if we look for them and then we measure them or record them.   Businesses are generally always looking to improve. They want to win more customers, win bigger contracts, deliver in a more efficient way, generate more profit, create a happier working environment and many other improvements.   In order to move a business forward in any one of these areas, one of the fundamental activities needed is to measure the impact of different initiatives or changes being tried in order to drive the improvement.   Have you ever heard a business owner use the phrase “it feels like things are getting better”? Gut feelings and instinct can be important in business, and a business owner may well have a good general sense of improvement – but unless they know to what extent and what it is that’s caused it, it’s hard to know what to do to replicate it and hard to know how much further...

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