Are Your Targets Helping or Hindering?

 

Lyanne shares her top tip for cutting through the noise and using your numbers to make better decisions:

 

It’s easy to get overwhelmed with information. Targets are set and we look at more and more information to analyse every scenario, but what do we actually then use on a regular basis?

 

On the opposite end of the scale some businesses don’t regularly update their numbers and may just run on a ‘what’s in the bank’ basis but this may not tell you when to increase prices or what costs are pushing your bank balance down. That gap between effort and return is covered in Working Harder, Getting Less Back? A Reflection for Business Owners.

 

There is no right or wrong approach here, everyone is wired a different way, but in today’s world where everything can be updated regularly, wouldn’t it be nice to have useful information to make decisions from?

 

Our top tip would be to have one page maximum for targets. These should be the most important numbers to your business and also the action that drives the success of that target. If you are recording these, it should be easy to make decisions and change what you are doing to keep on track.

 

We help business owners get clear on what to measure – and why it matters. If you’d like to explore how we can support your goals, get in touch with our team.