Data Driven Planning
It’s the end of the year which means most businesses are hard at work planning for next year. Planning is inherently a data driven activity since most business goals are based on metrics and metric targets. Those targets, and how you set them, are the most tangible embodiment of your company strategy.
As with any decision, setting these metric targets requires balancing two extremes. On one side, you want to be aggressive and push your team to their best performance. On the other side, you want to set realistic goals the team has a chance to achieve. Great targets ride that balance well, and bad targets will under-motivate your team and decrease performance.
This week we’ll cover how to use data to set great metric targets are part of your business planning process. Specifically we will cover:
- Part 2 – Planning for Growth
- Part 3 – Planning for Efficiency
- Part 4 – Sanity Checks
- Part 5 – The Plan
Tomorrow we will get started by covering how to plan when your business is growing. Always a good problem to have!
Quote of the Day: “Life is what happens to us while we are making other plans.” ― Allen Saunders