One of the constraints many enterprises face is meeting their daily financial goals. Here is a key insight I learned at a panel that reflected some insightful insights. How do you do this?
No one likes to delegate. Do you know why?
I met with a “stay tuned” CEO of a major tech company as he prepared to deliver a given presentation to investors and Wall Street. After discussing the issues, the CEO asked, “How would I know if we were making the right decision?”
The next time I have an issue that is not financially worthy of mine being involved, I will take these three measurements to my back and ask a simple question. It will help me quickly answer these questions:
Who is paying attention to this issue?
In my opinion, only the best people will listen to what I have to say. Therefore, find leaders in your team who are capable of self-correcting the issue so you can concentrate on what matters most: making money.
What is the current state of the market?
What is the status of your top competitors? Are they gaining market share, regaining lost ground, or losing market share?
This is a critical question as it provides a baseline on which to analyze and measure your competition.
What are the latest industry trends?
This leads us to the third measurement: most important market change since your last performance review, financial report, or board meeting.
I would never say I have all the answers or that all the insights are spot on, but if you are an enterprise looking to make better decisions, consider using a combined evaluation and measurement process.