As a follow up to yesterday’s post about marketing, I thought it would be good to discuss the need for measuring your marketing results. In fact, to be successful, you should be measuring the results in just about every area of your business. It’s only by paying attention to results that you’ll know what’s working and what’s not. When you track what’s happening, you’ll be able to modify your activities to improve the outcome.
To begin, you need to know what to measure, how to measure, what it all means, and what to change so that problems are identified and offending activity can be corrected. In a nutshell: measure the effect – change the cause. Pretty simple.
It’s no secret that what gets measured is what gets done. What gets measured is what gets noticed and, therefore, what gets managed. Are you getting the right things done or prioritizing what needs to be? If not, that could explain why you are tired, struggling, or frazzled. You can’t know what to do next if you are not measuring your results. You become stressed and tired when you don’t know how to locate and prioritize the activities (causes) which are producing your results (effects). When you know what to measure, the process becomes infinitely faster, easier, and more efficient.
Measuring allows you to see:
- exactly where you are
- if you are getting better or worse
- what needs to be corrected
- what it’s costing you to not change
Measuring enables you to say: “Here’s where I want to move the needle and here are the activities that need changing to accomplish this outcome.”
That’s all business analysis is about. That’s it.
To create the results you desire:
- Get clear where you are (measure)
- Decide where you want to go (goal)
- Identify the root problem (cause) that is blocking this progress
- Tackle the problem (execute)
- Evaluate your progress (measure)
- Decide where you want to go from there (goal)
- Identify any problems (cause) blocking progress
- Tackle the problem; measure; evaluate; shift; tackle the problem; measure…..
You get the idea. Follow this process over and over to achieve your desired end results in the fastest and most efficient way possible.
Where do you start? It starts with the numbers and you can’t understand the numbers if you can’t speak the language. Learn what your numbers mean and you eliminate the guesswork. Your numbers show you exactly what needs to be done as well as how, when, and why to improve your profits, cash flow, and financial performance.
Focusing here will show you what to adjust or improve upon. Real estate is a numbers game and following this process will allow you to WIN THIS GAME!
To Your Success!
