You are on your path to becoming an expert in knowing how to consistently grow you subscription business by knowing what to focus on to bring your business to the next stage.
Setting up your metrics is the beginning of getting in control of were your are and where you want to take your business.
Send me an email with any questions, problems you might have in finding the data you need or setting up the reporting, I can help you.
Why are metrics important?
Have you ever had a desire to make a major change in your life like lose 30 pounds, 200 mile bicycle race, starting your own business, save $50K?
What did you decide was the thing you needed to do?
Perhaps, you decided you wanted to bicycle 200 miles in 10 hours and that bicycling 1 hour, 3 times a week for 6 months would do the trick. Surprise, I’ve tried that and I failed miserably. While riding 80 miles 3 times a week was doable for my weekly schedule, I realized at race-day, after 15 hours on my steel horse, fighting a constant desire to quite for the last 50 miles while others riders were whizzing by, that riding 200 miles is a completely different game. I had used 50% more time than I had set as my goal, my legs aching and hard as concrete. I had used 5 hours to drive the first 100 miles and 10 hours to drive the last 100 miles. I just wasn’t able to keep the needed pace for the entire race.
After taking to others I realized that expecting to ride 200 miles at the same pace I was training 80 miles, is a complete miss. Riding 80 miles, at every training, had conditioned my body and psychology to that pace and distance. Distance and pace needs to vary, so the physical and psychological limits are pushed and not comfortably the same.
In conclusion, I should have had defined and written down goals and measured my progress towards them, which would have made me achieve the 10 hour limit, which I successfully managed afterwards.
Metrics are the measuring points that break down the goals we wish to achieve, it helps us stay on track, not get distracted, see the shortfalls and correct them as well as enjoy our progress. By the way, enjoying the progress, the small successes, are reeeeeally important because that is what helps constantly drive actions, even on days where we don’t really feel like it.
Metrics helps efficiency and cut time off the journey by eliminating if we STOP doing what we used to and ONLY do what we have defined as our focus.
Is metrics the sole most important thing in running a business, or is there more or equally important things that should warrant our attention?
I truly believe that metrics is a fantastic help for us to focus our actions, the ONE most important thing we need to focus on today, this week, month to achieve our goal. It help us become efficient, rather than get distracted doing busy stuff that don’t bring you directly to where you want to go.
As important as metrics are, it’s obviously the value you want to bring to your clients, the interaction with them and making the product that enable clients to achieve their desired outcome. Understanding the clients problems and designing your product is THE most important thing, the metrics will help you achieve that. So get the metrics setup, so the they are there for you to guide your actions.
The 6 Essential Metrics
Here they are, the 6 metrics you will be keeping a close eye on. It’s the gauges for your intergalactic star destroyer, keep them in range or the whole thing could implode.
If this is not your first business, then you already know this is not an exaggeration.