Making decisions without reference to measurement may lead to costly mistakes, says Betchel Group’s Global CEO Anna Caterina Betchel. “Metrics are a crucial piece of the puzzle to determine the real efficiency and effectiveness of your business. [Forbes]

I have previously asked the customers where I could invest their money. I usually answer that they should be investing the money in leading customer-centric businesses. If we have some higher tangible metric such as cash flows that I may point at, or how much we have grown with less money, then it would make sense to make the investment decision. I have been driven by one measure. Customers won’t respond to hundreds of different metrics. They only respond to ones that go back to the basic core of the business.”