Business Coach Explains Key Performance Indicator Pitfalls
As a business coach, I constantly see business owners making three demoralizing and key performance indicator-destroying decisions.
Mystic Statistic: “24% [of employees] are “actively disengaged,” indicating they are unhappy and unproductive at work and liable to spread negativity to coworkers.”
Implementing key performance indicators should not be complicated or require a committee. Just simply ask yourself, “What are the two most important repetitive action items that we should measure and focus on improving because doing so would make the biggest positive impact on our business?”
Time to Make It Visual
Now that you are familiar with the concept, it’s time for us to actually go through the effort of defining the two daily key performance indicators for each position within your company that you want to measure.
It doesn’t really matter what medium you use to post these key performance indicators, what matters is that you actually do post them in a massive way as soon as possible. If you and your people can’t see the goals in black and white, it will be very hard to manage for achievement of these key performance indicators.
“What’s measured improves.” -Peter Drucker (Austrian-born American management consultant, educator, and author)
Schedule Daily Standing Team Accountability Meetings
Over time, almost anything begins to drift or fall apart if it is not properly managed. Your team is no exception. I highly recommend that you hold Daily Standing Meetings to hold teammates accountable, assign the daily action items of the day, celebrate wins, and continue establishing your culture of accountability.
It is so CRITICAL that you make these meetings a priority because if you do not, your team will begin to drift, miss deadlines, break commitments, and become something less than excellent, which is not going to be good enough for your customers or for your wallet. You must get into the habit of having this daily meeting so you and your team can stay focused on the proactive tasks that will grow and expand your business. So much of our day can get filled up with reactive customer service issues, reactive legal battles, and reactive human resources issues (like when Karl calls in sick for the 17th time). You must hold your team accountable during these daily meetings or you will default to the mediocrity that naturally occurs when business are not intentional about growth related activities.
Learn from a proven business coach how to keep your Daily Standing Team Accountability Meetings from becoming a mindless waste of time, as a business coach, I highly recommend that you implement the following super moves.
Super Move #1 – Keep these meetings short, to the point, and candid.
Super Move #2 – Make sure this meeting is a standing meeting (literally, stand up) and not one that features bagels, muffins, coffee, and a bunch of moving parts.
Super Move #3 – Start these meetings on time, every time. Don’t keep your team waiting on the dude who comes to work looking like he took a shower on the walk to the front door.
Super Move #4 – Constantly bring up your team’s big goal, your ideal and likely buyers, and why both you and the company are committed to helping your customers get what they want.
Super Move #5 – Bring energy to these meetings. Nobody wants to work for a low-energy sloth.
Super Move #6 – Publically praise the members of your team who are getting things done and privately chastise the members of your team who consistently fail to reach their daily key performance indicator goals.
Super Move #7 – Have the members of your team prepare a short end of the week appraisal of what they got done and what they did not.
Super Move #8 – Have the members of your team publicly share if they accomplished their tasks or not. It’s amazing to me, but the power of positive peer pressure really does help keep many team members focused and on task.
Management Today Is Mentorship
If you truly desire to turn your business into a duplicable and scalable cash-producing and value-adding machine that is capable of working without you, then you will need to develop your management and leadership team. In most cases, delegating leadership of your management team will be the very last step in creating a company that can truly run without your daily hands-on involvement.
Where Have All the Good People Gone?
As a business coach, I see daily that we live in a world that is abundant with opportunities everywhere if we just know where to look. Unfortunately, we also live in a world where the average American was not raised in a stable home by stable parents who invested the time and effort needed to teach their kids the importance of having a solid work ethic, developing an actual skill that the business world appreciates, and establishing the daily practice of refining our faith, family, financial, fitness and friendship goals. Moral boundaries and a solid work ethic are simply no longer present in the average new hire. This creates both challenges and opportunities for employers.
Mystic Statistic: “More than half of all youths incarcerated in the U.S. lived in one-parent families as a child.”
Mystic Statistic: “20 million children are growing up either without a father or mother in the United States.”
On the negative side of things, many employees today do not have the moral boundaries, the communication skills, the business skills, or the work ethic needed to be successful in workplace when they show up for their first day of work. Looking at the bright side however, those companies that do invest in the mentorship of their people and development of a solid company culture will stand out from the pack. Many employees view companies that have a commitment to personal development and upbeat culture as beacon of hope and light within the job market.
Mystic Statistic: “64 percent of millennials would rather make $40K a year at a job they love than $100K a year at a job they think is boring.” “Birds of a feather flock together.” -Unknown Author