Business metrics are simply any type of measurement used to gauge some quantifiable component of a company’s performance — Revenues, gross margin, inventory turnover, return on investment, customer churn, EBITDA, each examples of financial metrics.
The soundest way for any organization to turn their mission statement into success is with fundamentally sound metrics – adopting a holistic approach to their business that incorporates:
- Quantifiable Objectives and Targets – Where you’re at and where you want to be
- Clear Measurement Criteria
- Specific Initiatives to Achieve the Objectives – How to get there
A systematic approach that incorporates those measurements and actions into: 1) financial; 2) internal business process; 3) customer and; 4) growth & learning and an action plan that will sustain your success is time proven strategy.
As a CFO, process and metrics are my life blood – focusing on key performance indicators and working closely with CEOs to make decisions, to control direction, to achieve success. To get as much strategy right, straight out of the gate — yet possess enough experience to know when a key metric needs to be tweaked along the way. No one hits the first pitch, of each at bat, out of the park — every time.
Successful organizations carefully consider their key metrics to maintain their edge – sometimes re-hone their edge — particularly in the challenging environment we work today. A good deal of my experience has been with turnarounds – operations much like our current economics — just more company now. Each of those successes utilized the same fundamental initiatives.
Today rather than sit in the same chair every day I work with SMBs as their CFO on an as-needed basis. I love the variety and challenges my client’s love the scalability and results.
Typical new clients are feeling some pain – the economy remains challenging – occasionally the discomfort is growth related, more typically it’s otherwise lately. New engagements begin with what we call:
The Discovery Analysis™
- A confidential meeting with the business owner(s), then interview company staff (owner’s option)
- Review company’s financial information and computer systems
- Benchmark financial information against industry averages
- Create a confidential report of findings in The Strategy Gameplan™
- That report includes your benchmarks, “current vs. desired” positions, and recommendations for your consideration.
The Strategy Process™
- Confidentially discuss the key findings of The Discovery Analysis™
- Review The Strategy Gameplan™
- Discuss a preliminary timeline for The Strategy Gameplan™
- Agree on the proposed costs for The Strategy Gameplan™
- Initiate a preliminary discussion about Finders, Minders & GrindersSM
Now if and it’s a big IF, you choose not to move forward The Strategy Gameplan™ is yours to keep for the non-negotiable cost to you of $0.00.
Read a bit more about our approach & services — The Game Plan™
If your business is keeping you up at night and you’d ’d like to discuss further please call or send me an email with a convenient time to call you.