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Metrics… for Life

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My clients will recognize my constant encouragement to set measurable objectives, and then utilize consistent process to apply metrics consciously and mindfully… for business goals and career goals.

Now there’s a book that helps define the benefit of this philosophy for your personal life, particularly if you are a busy and forward-driving executive or entrepreneur.

Clayton Christensen of the Harvard Business School wrote How Will You Measure Your Life? after a series of life events propelled him to share his point of view (an amazing and moving story).

He writes that his first clue that there was a problem with ensuring a happy and successful personal life was when he attended an HBS reunion to discover that nearly every member of his class had been spectacularly unsuccessful (and generally unhappy) in their personal and family lives, despite many accomplishments in their professional lives.  Sound familiar?

I appreciated Christensen’s realization that his classmates were extraordinarily gifted, with both talent and opportunity, trained to cast sophisticated strategy into aggressive business plans, and execute accordingly.  It wasn’t that they had planned to be unsuccessful in their personal lives, it was simply that they had no plan for their personal lives… and perhaps predictably, the results weren’t what they had assumed.

This realization is at the core of mindful and thoughtful coaching.  Set measurable objectives, explicitly and thoughtfully, and then scrupulously measure progress against the objectives.

I can’t recommend this book highly enough for every entrepreneur and business person; get it and read it.

Why Big Data Matters

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Recommended reading for all entrepreneurs… is this article on Big Data from the Harvard Business Review while most startups in the early stages don’t have ANY data to analyze, let alone enough data that you could call it “big data” and derive any meaningful insight from it…

It won’t be long before many “startups” have data stores filled with information (if you choose to collect it, even 500 customers will provide you with rich data)…

and analyzing that information, deriving insights from it, and acting on it (a three-pronged skill set that few people have… thus the article’s focus on how to find Data Scientists) will be ESSENTIAL.

I’m not talking about being competitive here, I’m talking about survival.

One retailer assumed from their extensive hands-on experience, that service person turnover was a key metric… that would determine customer satisfaction. Makes sense intuitively, eh? You want great service/counter staff, and you want them to stay.

Once they truly questioned their assumptions, re-ran their analysis and plumbed their sales per store… they determined service staff was irrelevant. Store manager turnover, however, absolutely determined if the location was profitable or not.

I’m sure my clients can relate, even though some of them have “smaller” businesses right now. Read and heed!

Accountability and Swift Termination

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Most experienced entrepreneurs will agree that they almost always took too long to terminate key employees when they don’t work out.

In World War II, the U.S. Army grew from 190,000 soldiers in 9 Divisions to 8,000,000 soldiers in 61 Divisions. General George Marshall is credited with instilling accountability in the officer ranks, including generals.

Below are excerpts from the Harvard Business Review article that I strongly recommend you acquire:

“As transformational leaders tend to do, Marshall began by focusing on people. He truly was ruthless in getting the right people in the right jobs—and the wrong people out of them. When Brigadier General Charles Bundel insisted that the army’s training manuals could not all be updated in three or four months and instead would require 18, Marshall twice asked him to reconsider that statement.

“It can’t be done,” Bundel repeated.

“I’m sorry, then you are relieved,” Marshall said.”

Can you imagine that in today’s army?

As you’ll learn in the article, the U.S. Army is no longer run that way (generals are almost never terminated, and certainly never swiftly when held accountable to a leadership goal).

Which way do you run your startup?  With accountability?  With swift action?

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