Since nobody can do your critical thinking for you, here’s is a simple model to assist you with it. It’s called M.E.I.R., which stands for measure, evaluate, improve, reproduce. Here’s how it works.
You have to keep score in business to know if you are winning or not. Activity does not equal accomplishment. It can be as simple as revenues – cost = profit, but you have to start somewhere. Establish baselines for your key business metrics (sales, costs, profits, new clients, etc.) so you know how you are doing.
As you look at your measurements, try to establish cause and effect. Make sure each person in your organization knows how their roles and responsibilities tie into the key measurements. Track where you are spending time, money and resources and be sure that you are getting a good return on investment.
The first thing you need to improve is yourself. Invest in yourself and watch your business grow. What will you do to keep yourself from being the lid on your business potential? Secondly, look at your key measurements. Where else do you have the potential to leverage existing capacity and strengths for growth?
Once you have determined what is working and how to optimize it (“E” and “I”), find ways to reproduce the systems that are bringing in exceptional results, and multiply their impact. If systems are not getting quality results, blow them up, and redesign something that works.
The M.E.I.R. plan will help you think about your business in new ways and, under this kind of healthy scrutiny, the only way you can go is up.
By Ross Patterson