Numbers Aren’t The Only Metric

I’m sure you’ve heard it plenty of times: You’ve got to track your numbers! What do your numbers look like? Make sure your numbers are up-to-date! 

But numbers shouldn’t be the only metric that you are tracking as a business owner. There is so much more to the metrics of a business than just the financial numbers. 

Behind all of your financial reports and numbers is the business itself — and how well your business has met its goals or executed against its strategic plan are the necessary metrics or ‘inputs’ that drive those financial ‘outputs’. 

Remember: Numbers Aren’t The Only Metric

It’s very easy to fall in love with numbers, especially if they're positive on your financial reports. In my recent Money Matters blog post, I talk about how money matters from day one — but it is just another part of the story and should be the piece that guides you, NOT define you. 

Numbers are fascinating and when they’re placed in very visually appealing reports too, who can blame you for loving the numbers? You are likely always asking yourself:

• How fast are we growing?

• How much money are we making?

• How many likes are we getting? 

In today’s economy, business owners are obsessed with seeing numbers grow — higher and higher and fast. But there’s little insight or importance placed on how you are getting those numbers in the first place. 

Remember: the input affects the outcome.

So, what does that mean? What other metrics am I meant to be tracking, then? 

Your Strategic Plan

One of the top metrics or KPIs that your business should be tracking is your Strategic Plan. Don’t know what that is? 

A Strategic Plan is an organization’s process of defining its strategy or direction by setting priorities, focusing energy and resources and strengthening the operations of a business by setting measurable goals with actionable items. 

This is one of the most important exercises a business can do every year — and it’s important as well to evaluate on a 1, 3, and 5 year basis and revisit frequently to measure your progress. 

Your strategic plan can include a number of attainable goals geared to all different facets of your business. Here are some examples of strategic goals you can set for your business (with actionable to-dos!):

• hit $X in revenue for your business by X date 

• attain a high rating in an Organizational Health Interview of your company (AKA your employees are happy!)

• create a consistent and automated onboarding and offboarding process for your clients

• reduce waste in your production practices to become a sustainable business [if you are a product-based company, perhaps this could be one of your goals!]

These are just examples of different goals that can be set within your strategic plan, and note — they are not all numbers based! Your strategic plan should absolutely be one of your top priorities and measurable metrics as a business owner.

Other Metrics Within Your Business

With a strategic plan, you are outlining your top priorities. But, that’s not to say that the actionable goals or items along the way to help you meet that KPI aren’t important. You can expand not only on those strategic goals you’ve outlined, but also create measurable metrics by looking at different parts of your business, for example:

• Employees or Contractors

• Products/Services

• Philanthropy

• Manufacturing

• Company Culture

And so many more. 

There are other metrics and goals that you can set for yourself across the business, and it’s not required to be a number. 

At JDP, it is literally my job to analyze every area of your business AND help you create a strategic plan to help your business see change and move towards the growth that you’re looking for.

I’ve created a template (for Excel and Google Sheets) for a 1, 3 and 5 year Strategic Plan that is available in the JDP Resource Library that I use myself each year! At the end of each calendar year, I revisit my strategic plan for the next year, and I check in quarterly (sometimes monthly) on those goals that I set and to measure my progress in reaching those KPIs. 

Having a set plan has helped my business maintain steady growth (without breaking me or the bank!) as well as help me stay on track to reaching my business goals. 

HI THERE, I’M JORDYN

Serial entrepreneur, strategic integrator and financial aficionado.

My mission is to revolutionize the way businesses grow with strategic clarity and implementation. It goes beyond consultancy—as I want to be a dedicated partner in propelling your success with strategy and impactful execution with zest and honesty.