Last Piece of Advice
What if you could only give a friend, a student, your son, or daughter one piece of start-up advice, what would it be?
That is the question I will put to the business leaders in Louisville. I will blog some of their answers and assemble an ebook from the rest.
My answer is the following:
Figure out the one metric that drives your business. The one thing that keeps the cash flowing and measure it. Track it relentlessly. Focus your entire organization on that one metric. I will give an example. A restaurant owner calls in on a Friday night at 7:30 and asks, “What is the wait for a table?” That one question can tell her how business is and give her an idea as to the revenue for the evening. How can the wait do that? The answer is simple – wait equals how busy the restaurant is which translates to people in the store, which when multiplies by the average check equals the cash take.
When you identify the metric that drives your business, and when you focus your entire organization on that metric, then the company moves as one. One purpose, one aspiration, a single goal. Know the metric, focus on the metric, drive the metric.
How would you answer the question? – Let me know.
April 22nd, 2010 at 1:32 am
По моему мнению Вы не правы. Пишите мне в PM, обсудим….
грузоперевозки еще My answer is the following: Figure out the […….