Archive for category GENERAL DISCUSSION
How to Get Started at Social Selling
Posted by Rick Pranitis in GENERAL DISCUSSION on November 6, 2014
Social selling is when salespeople use social media to interact with prospects. You might think that social media is a waste of company time, but that couldn’t be further from the truth. Social selling can reduce the sales cycle time by fifty percent. Your potential buyers are on social media, so your salespeople should be too. Embrace social selling to connect with and communicate with prospects. Social media gives consumers the opportunity to ask companies questions directly and allows salespeople to respond quickly. This efficiency is valuable to consumers. Social selling is a valuable, efficient, and effective tool that your company needs to stop avoiding and start using.
Get Started: If you’re new to social media, don’t worry. It’s easy to set up company accounts on Facebook, Twitter, and LinkedIn. You should also encourage your salespeople to start individual accounts. Upload your company logo for company profile pictures and have your employees use professional headshots for their profiles. Every account associated with the company should include a link to your website in the description. Provide social media training if necessary. Equip your salespeople with the social selling skills they need to succeed.
Follow Prospects: You want to catch the attention of potential buyers and build a relevant following. Search for relevant keywords on Twitter and start following users who are discussing relevant topics. Check out your competition. Who are they following? You want to follow as many relevant people as possible. Ideally, these people will start following you back.
Social selling tools speed up sales research. By following customers and prospects, you can get to know them better. You will be able to research your prospects before meeting them. Discover their wants and needs. You can then address these issues and offer solutions. Show how your products/services can solve their problems.
Share Valuable Content: Establish yourself as a credible source of information. Produce valuable content to share via social media channels. Add value, drive traffic, and give consumers a reason to visit your website again and again. You can’t just tweet about your company with a link to your homepage and expect people to click through. Start a company blog and continue to post new, original content regularly. The more content you create and share, the more visible you will be to your followers. When you share content that your followers find useful or valuable, they will be more likely to share it with others, extending your reach even further. By providing new and interesting content, you will gain credibility. Eventually your followers will recognize you and your sales team as industry experts.
Interact with Prospects: Social media allows you to interact with consumers like never before. Instead of pushing the same old sales pitch, have meaningful conversations with prospects. Your sales reps should use their own individual profiles to communicate with prospects. Consumers will be more likely to interact with and take advice from an individual than a company. Take advantage of these platforms and communicate with prospects, answer their questions in a timely manner, and participate in relevant discussions.
Like, share, favorite, and re-tweet interesting content that others are posting. Successful salespeople understand the importance of creating connections and developing relationships with customers. Social selling is all about building strong relationships with potential buyers. By interacting with potential buyers, you can get a better understanding of their needs and interests. Use tools such as Tweetdeck and Google Alerts to receive notifications when consumers are discussing specific topics. You can then participate and provide useful information in real time.
Start Social Selling: It’s impossible to ignore the impact social media has on sales. It has become a valuable lead generation tool. Update your sales and marketing strategies and get your sales team involved. Social selling is a powerful and advantageous tool. Don’t miss potential sales. Start social selling and increase efficiency, productivity, and sales.
This article was originally posted to the SalesForce Search Blog by Scott Lombardi on 10/24/14.
Four Tips For a Great Presentation
Posted by Rick Pranitis in GENERAL DISCUSSION on October 27, 2014
Giving a presentation is very similar to public speaking. Many people freak out because they have to get up in front of an audience and speak about a topic in which everybody assumes they’re an expert. However, you don’t need to lose your nerves! By following the a few simple rules, you can give a great presentation even if you’re not the expert on that topic.
Know your audience: Try to learn as much about the audience as you can because this is about what the audience wants to learn. It’s not about what you want to talk about. For example, the average age of the audience and their knowledge about the topic are important factors which will help you determine the tone and content of the presentation you will deliver. Keep in mind that your slides should consider what the audience doesn’t know and what they want to know.
Communicate the content of the presentation: It’s helpful to have an outline slide at the beginning and a summary slide at the end specifying the key takeaways of the presentation. In the outline slide, tell the audience what you’re going to tell them during the presentation. Then, tell them what you actually want to tell. Finally, to conclude your presentation, tell them what you told them. This is one of the most effective ways to make your audience still remember your main points after the presentation.
Be professional with your slides: Make your slides entertaining. Don’t use too many bullet points and make your slide look overcrowded. Instead, use graphs and pictures whenever possible. Don’t use too much animation in transitions between slides unless you are absolutely sure that all of the animations will work. If you are giving a presentation in an unfamiliar environment or using a different computer other than yours, animations may not work due to different system versions. Remember that simple is always better and less is always more.
Make an emotional connection: Take every opportunity to connect with your audience. Look your audience in the eyes. Don’t just look at your slides. Be humorous and don’t try to show off. Use gestures and hand motions. Be careful about the tone of your voice. Try to sound friendly and not bossy. Moreover, tell stories whenever you can. People like to hear other people’s lives because they usually find similarities and they can identify themselves with them. In addition, stories are more remarkable than graphs and bullet points as they’re easier to tell compared to facts because you can remember them easier.
Stop Using Features, Advantages and Benefits in Selling
Posted by Rick Pranitis in GENERAL DISCUSSION, SALES BEST PRACTICES on October 15, 2014
The key to successful selling is learning to understand a client’s buying criteria and building your presentation around them. Its common knowledge nobody likes to be sold to. But people love to buy. And, because your prospects may feel resistance towards salespeople in general, you need to present your product or service in a way that glides right past any resistance. If you can do that properly, your prospects will want to hear more and they will take action in response to your suggestion.
Stop using Features, Advantages and Benefits!
How are you going to do it? Well, here’s the way to overcome it. Instead of naming features, advantages and benefits of your product and service, start with asking questions. You need to find out your client’s hot buttons, and they’re all located in the unconscious mind with their emotions, and their values.
When you know what someone’s criteria are for any given specific situation, you hold the key which unlocks the door to closing the deal. You have the piece of information which will open your prospects up, and you’ll be able to talk to their conscious and to their subconscious mind.
Then, when you do start with your presentation, your messages will not only be right on target, they will be focused to the one thing and one thing only – that being what is really important to your clients. You’ll not be talking about features or benefits, but the client’s hot buttons.
All humans are the same. We all have needs, we all have wants, we all have drives, and we need to connect to those wants and needs and drives. People love to buy. People love stories. People love to be led. Your role is to lead people, not to name features and benefits. Everyone can be persuaded.
This should be your mantra. You need to believe you can persuade everyone. But to start doing it, you need to uncover their hot button which will make them buy. Forget about selling logically. Forget about focusing on a logical rationalization of objections people have and to handle any objection they have logically.
Stop using features and benefits. Start talking to your client’s unconscious mind. Here I’m talking about their emotions and their values.
So what is a Hot Button?
A Hot Button is something important to your client. It could be a problem; it could be a need, an interest, maybe even a passion. It’s what motivates your client’s decisions. Your role is to find this hot button. Let your clients talk. Your job is to ask open-ended questions, and then you listen. But more importantly, you have to touch on the important stuff.
If you just use same old questions with each and every client you have, you’ll always get the same answer, and probably not be successful as you could be. Every person has things which are really important to them. At a high level, we refer to these as values, like security, adventure, freedom. But people also have values within a different context. In a sales environment, you have to uncover the values that are related to the situation they have, and these are referred to as criteria or buying formula.
Now, if you ask a person “What is important to you in your work?” they’ll tell you what their criteria are for their work, like doing a great job, making lots of money, helping other clients. And if you ask the same person what is important to them about the place where they live, you get to talk to a different criteria because the context is different. A client’s criteria are really context-dependent.
So your client’s hot buttons are dependent on the context of the communication. Your client’s criteria in an influence situation are their hot buttons within that context.
For example, if a person is buying a home and he or she says, “I’m really interested in a safe and secure neighborhood,” that’s what’s most important to them. Then those specific words are their criteria in that context, their hot buttons. When you start presenting, you have to use those same criteria to let them know that you understand them. It’s a part of reflective listening, where you use the keywords that people are mentioning to you during the questioning phase of the sales process.
The truth is its more difficult to sell in today’s market because the world is much more diverse than it was a decade, or even a year ago. Today’s sales challenges don’t respond well to last century’s tips, tricks and techniques. Those skills are not wrong; they are simply old, outdated and incomplete for today’s market.
This article was originally posted by Alen Mayer on The Missing Piece to Your Sales Success.
Social Media; Helping Manage and Close Deals
Posted by Rick Pranitis in GENERAL DISCUSSION on June 23, 2014
Social media is often thought of as an external, customer-facing sales tool. But inside the organization, social technologies are powerful tools you can use to engage your employees for real-time feedback, enabling them to collaborate on tasks and connect to the resources they need for success. Imagine your ability to harness and develop new business ideas when your employees are all connected, working together, real-time.
Sales professionals need to be able to get up to speed quickly, keeping track of the network of people and business events that are relevant to closing deals. They are looking for tools which can make them more educated not just about the prospect but also about your organization’s offerings, before, during, and after sales discussions.
What’s the biggest complaint in sales? Hands down, it’s sending too much time on non-selling activities. Sales people are constantly looking for answers and expertise to close more deals faster. In our personal lives it’s fairly easy to find people and information we need – we use search engines and social networks to find what we want. Why wouldn’t the same approach make sense at work? This is why social experiences should be an integral part of business solutions.
Ask any salesperson how they meet revenue targets and they’ll tell you it’s all about how they can stay on top of the situation. How does a sales person cut through the clutter of daily business and listen to what’s going on in the context of his specific accounts, leads, contacts, and deals? They want business tools which help them “follow” the people, organizations, and events they cares about. And of course they need access to this information no matter where they are—at their desk or on the road through a tablet or phone.
Social tools can also help accelerate the sales process. Salespeople constantly need to make decisions about the deals and people they work with. Public social networks like LinkedIn provide additional insight into customer connections, preferences, behaviors and sentiments, which can lead to more productive sales engagements. Pulling this information into daily productivity tools—such as Outlook email client or a CRM application, for instance—in a way that allows people to manage their social networks and stay up-to-date directly in that tool, is a real benefit to the sales professional and the organization as a whole.
Salespeople are results-oriented—they like to have achievements acknowledged (and shared). Social tools for business can be configured to automatically post updates when actions occur, such as closing a deal. The system can be a real support to someone in this role, offering instant acknowledgement and making sure everyone in his organization’s network—from the boss to the VP of Sales—is aware of the efforts and successes of the sales team.
Ten (too often ignored) Rules for Conference Calls
Posted by Rick Pranitis in GENERAL DISCUSSION on February 18, 2014
We waste so much time in meetings and conference calls, some of which are unnecessary and others that take way too long. We all know this. And yet how often do we leave a conference call or a meeting asking ourselves: “was all that really necessary?” If we just follow these simple rules when considering a meeting or a call imagine how much more productive our time could be.
Make sure you really need it in the first place. If this is really just an update, perhaps a memo would be better to save everyone the time.
On the other hand, be proactive about using a quick meeting or conference call to focus on and resolve/decide on an issue or question that otherwise would become the longest email string in the world that never really reaches consensus or action (you know exactly what I’m talking about).
Make sure everyone is required. Every attendee should be an active participant. Anybody who is just “listening in” should save themselves the time and read the memo/recap afterward. If you are playing Candy Crush while “attending” your next conference call, this probably means you.
Set up a dial-in line vs. “conferencing people in” across multiple phone numbers. Make it really easy for everyone required to join in independently of one another.
If you are the leader or moderator, join the call five minutes early. If another participant is late, that’s bad enough, but having everyone sit around waiting for the leader is far worse and a huge waste of everyone’s time.
Distribute an agenda in advance. You’re doing this for live, in-person meetings right? They’re just as important for phone-based meetings to keep them disciplined, focused and efficient.
If you’re a required participant (which means you’ll be participating) don’t multi-task. Focus with everyone else on the topic/question/decision at hand so it can get done as quickly as possible.
If you are the leader or moderator, actively manage the focus and length of the call. If you scheduled 30 minutes, ensure you can get your business done in that time or less. Also police the discussion so that you stay focused on what’s important for that call only (i.e. on the agenda).
End the call as soon as you’ve completed the agenda or made your decision. Don’t allow the “hey, one more thing since we’re all on here…” It’s not likely that everyone on the call needs to be around for that.
Think long and hard about whether a “recurring” conference call on everyone’s calendar is truly necessary either 1) at all, and 2) that often. Could one of you taking that time to write up a summary/recap memo get the same information disseminated and save others the time? Could you make the call far shorter by focusing that together time on decision-making or problem-solving, and preserving the status updates for the memo? Would you be bold enough to cancel a recurring meeting if there were no decisions to be made, only status updates?
Seven Sales Habits Ruining Your Reputation
Posted by Rick Pranitis in GENERAL DISCUSSION on November 22, 2013
Some would say the sales profession doesn’t exactly have a stellar reputation. And it’s true, the industry is fraught with sales people who will say or do anything to close a deal and this includes companies who condone such behavior. Unfortunately, you might also be guilty of some bad sales habits — habits which could be affecting how your sales actions are perceived.
Here are seven sales habits that might be giving you a bad reputation.
1. Pitching too soon – The vast majority of sales people pitch their product or service too soon. As a result, they end up pitching the wrong solution or they fail to effectively position their solution because they haven’t taken the time to conduct a thorough discovery to determine if the prospect actually has a need for their solution.
2. Opening your pitch by talking about your company – I’m flabbergasted by the number of sales people (and company executives) who still believe this is the best way to open a sales presentation. They use valuable time talking about their company and its achievements instead of focusing on what is important to their prospect…a solution to a problem.
3. Failing to listen – Too many salespeople don’t listen to their customers or prospects and that means they fail to address the key issues that their customer has stated as being important. It sounds simple but it is a common occurrence in the business world. One of the easiest ways to connect with a decision maker is to carefully listen to what they tell you.
4. Not understanding key business issues – In today’s highly competitive business world, sales people are expected to have a strong grasp of issues that are affecting their prospect’s business and/or industry. Bringing new insights to the table can help you stand out from your competition and improve your reputation as a sales professional.
5. Not asking enough high-value questions – It still amazes me how many salespeople think that telling is selling but your prospect or customer should be doing most of the talking in a sales conversation. The key is to ask high-value, thought-provoking questions that get your prospect thinking.
6. Delivering a generic presentation – The objective of a sales presentation is to demonstrate why your prospect should buy your product, service, solution or offering. Unfortunately, very few sales people craft a presentation that is tailored to each prospect. Instead, they use the same slides, the same information and the same approach with every prospect.
7. Failing to follow through – A prospect asks for a particular piece of information and the sales person promises to deliver it by a certain date. The deadline passes and the prospect has to call and remind the salesperson. Because the sale has not been finalized, warning signals sound in the customer’s mind. After all, if the sales person is this slow to respond BEFORE the sale is made (the courting stage), how long will it take him to respond AFTER the sale?
Selling is an honorable profession. Improve your reputation and gain your prospect’s trust and respect by avoiding these bad sales habits.
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This article originally appeared in the Fearless Selling Blog on November 18, 2013.
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Sales Witchcraft and the Insanity of “Turn-and-Burn” Selling Strategies
Posted by Rick Pranitis in GENERAL DISCUSSION on October 29, 2013
It’s October. Fall and Halloween are upon us. So here’s a scary story for the season. I call it scary because I still see it going on, and it scares the ‘you-know-what’ out of me.
Far away, in the magical land of sales wonderment, there exists the holy grail of selling immortality. A place of “drop the facts on you” efficiency where all you need to generate massive amounts of revenue is you spinning through the scripts that came alongside your amazing product. Scripts so magical objections fall away in front of your mighty verbosity. Scripts so powerful you don’t need to know anything about the prospect or the reason you are there. The scripts are enough.
Enter the land of the “one call close”, a land of magical un-engagement. A place where you get what you want first. An opportunity for you to spend as little time as possible creating as big a deal as possible. And if it all sounds too good to be truth, that’s because it is.
You can’t care less and win more. It’s really that simple.
But that doesn’t stop some from agreeing with the sales rep making the off-hand remark about how “He doesn’t want to deal with the details. He just wants to “turn-and-burn”. He’s applauded as if he is the last bastion of sales efficiency and thought leadership, a true example of effective qualifying and “trusting the process”. But that guy is really a moron. And so are those buying into the selfish insanity of “I’ll care when it benefits me” style of business.
But that hasn’t stopped some from romanticizing ridiculous turn-and-burn sales strategies:
• They imagine that a perfect set of closing lines can replace genuine empathy and a relationship.
• They expect that enough marketing emails can replace personal attention and the discipline to prospect better.
• They want to believe that by backing our customer into a corner with what we believe to be our “consultative selling” that we can force them to act quickly instead of giving them space to feel in control.
• They assume that getting another customer is a better strategy than making sure our existing customers stay satisfied for life.
Fantasy land might create a wonderful sub-plot for Hollywood, but it’s crippling to performance.
Caring is simple. You do. Or you don’t.
And despite how these people might try to justify their selfishness, all around them can be seen the ugliness of their attitude and actions. Someday they will too. But it might be too late to do anything about it then. Maybe it’s time to rethink things now – while you still have a chance to change the world.
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Eight Ways to Make People Believe What You Tell Them
Posted by Rick Pranitis in GENERAL DISCUSSION on August 9, 2013
Credibility is one piece of the bedrock of trust. If people doubt what you say, all else is called into doubt, including competence and good intentions. If others don’t believe what you tell them, they won’t take your advice, they won’t buy from you, they won’t speak well of you, they won’t refer you o
n to others, and they will generally make it harder for you to deal with them.
Being believed is pretty important stuff. The most obvious way to be believed, most people would say, is to be right about what you’re saying. Unfortunately, being right and a dollar will get you a cup of coffee. First, people have to be willing to hear you. And no one likes a wise guy show-off – if all you’ve got is a right answer, you’ve not got much.
While each of these may sound simple, there are eight distinct things you can do to improve the odds that people believe what you say. Are you firing on all eight cylinders?
1. Tell the truth. This is the obvious first point, of course – but it’s amazing how the concept gets watered down. For starters, telling the truth is not the same as just not lying. It requires saying something; you can’t tell the truth if you don’t speak it.
2. Tell the whole truth. Don’t be cutesie and technical. Don’t allow people to draw erroneous conclusions based on what you left out. By telling the whole truth, you show people that you have nothing to hide. (Most politicians continually flunk this point).
3. Don’t over-context the truth. The most believable way to say something is to be direct about it. Don’t muddy the issue with adjectives, excuses, mitigating circumstances, your preferred spin, and the like. We believe people who state the facts, and let us uncover the context for ourselves.
4. Freely confess ignorance. If someone asks you a question you don’t know the answer to, say, “I don’t know.” It’s one of the most credible things you can say. After all, technical knowledge can always be looked up; personal courage and integrity are in far shorter supply.
5. First, listen. Nothing makes people pay attention to you more than your having paid attention to them first. They will also be more generous in their interpretation of what you say, because you have shown them the grace and respect of carefully listening to them first. Reciprocity is big with human beings.
6. It’s not the words, it’s the intent. You could say, in a monotone voice, “I really care about the work you folks are doing here.” And you would be doubted. Or, you could listen, animatedly, leaning in, raising your eyebrows and bestowing the gift of your attention, saying nothing more than, “wow.” And people would believe that you care.
7. Use commonsense anchors. Most of us in business rely on cognitive tools: data, deductive logic, and references. They are not nearly as persuasive as we think. Focus instead more on metaphors, analogies, shared experiences, stories, song lyrics, movies, famous quotations. People are more inclined to believe something if it’s familiar, if it fits, or makes sense, within their world view.
8. Use the language of the other person. If they say “customer,” don’t you say “client” and vice versa. If they don’t swear, don’t you dare. If they speak quietly one on one, adopt their style. That way, when you say something, they will not be distracted by your out-of-ordinary approach, and they will intuitively respect that you hear and understand them.
What’s not on this list? Several things, actually: Deductive logic, PowerPoint, Cool graphics, Spreadsheet backup, Testimonials and references, Qualifications and credentials.
It’s not that these factors aren’t important; they are. But they are frequently used as blunt instruments to qualify or reject. We’d all prefer to be rejected or disbelieved “for cause,” rather than for some feeling. And so we come up with rational reasons for saying no, and justifying yes. But the decision itself to believe you is far more likely driven by the more emotive factors listed above.
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This article was originally posted on The Trust Matters Blog by Charles H. Green on July 26, 2013.
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Do You Let Customers Set Prices?
Posted by Rick Pranitis in GENERAL DISCUSSION, MARKETING on June 4, 2013
If you ask a group of product management and marketing leaders most, if not all, will say they carefully develop pricing according to a set business strategy, and their pricing is guided by three requirements: the needs of the buyer, the value the offering delivers and profitability. However many will fail to set strong pricing policies to ensure the fruits of the strategy are delivered. Without this policy, every transaction runs the risk of becoming an “exception,” and customers – not the organization – end up setting prices.
A strong pricing policy clearly spells out pricing, how it’s structured, and what metrics are used to value the offering. It indicates the criteria customers must meet to fit into each price band. It also explains policy (e.g. price protection, raw-material cost increases, etc.). Finally, it provides direction to the sales team on how to manage price objections.
To maintain the value of an organization’s products or services, a best-in-class policy provides a menu of tradeoffs salespeople may offer when negotiating with buyers. Say a company has a budget of $25,000 for software. Your proposal comes in at $32,000. Do you discount? No! Offer tradeoffs of service levels or usage access. That way, customers come to understand the pricing is not open to negotiation, but a solution can be reworked to fit the budget. Once customers are used to working with your organization in this way, they will no longer assume they can negotiate, and will better recognize the value of your offering.
Once you have built strong pricing policies, make sure you do two things: First, educate your sales force on the pricing strategy and policy, and provide them with tools (e.g. ROI models and case studies) to support the policy. Explain the tradeoffs they may offer customers, and role-play negotiating scenarios with them. Second, develop strong pricing policy enforcement at the regional level. How is this done? First, include regional marketing and sales teams when developing the policy, so they can stand behind it. Second, allow no exceptions. Reject all quotes which go against the policy. If field marketing and sales data indicate that the policy is not competitive, (then) consider revising the policy as well as the pricing.
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This article was originally posted to the Sirius Decisions Blog by Lisa Singer on April 24, 2013
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Four Reasons You Need to Implement Performance Measurements
Posted by Rick Pranitis in GENERAL DISCUSSION, SALES LEADERSHIP on May 24, 2013
Most business leaders know intuitively they should be using data to measure their organization’s progress and drive future decisions. However, when things get busy, data is often the first item to drop off the radar.
Have you made performance measurements a priority at your organization? When you understand the advantages that monitoring data can offer you may be more willing to make it a consistent priority. Using metrics to set clear, quantifiable goals within your company offers four distinct benefits:
1. Performance measurements help to create focus by offering clear goals. Some departments—such as your sales team—may live and die by their numbers. However, other departments may lack the hard-number goals that keep them motivated to perform. If your team doesn’t have a realistic goal guiding their day-to-day work, they may end up feeling unmotivated and directionless. Numbers give people something to shoot for.
The metrics you choose need to be meaningful. Annual numbers are too abstract, and even quarterly numbers may get ignored until the final two weeks of the quarter. Figure out what defines “success” for each one of your departments and work with your leadership team to pick a metric which tracks that measure of success. For example, does your marketing department keep track of the number of prospects their campaigns bring in the door? Does your technical support team track the average resolution time for their tickets?
By giving everyone a quantifiable number that guides their daily work, you’ll be offering them clear targets for results and setting up your company for consistent success.
2. Using metrics can also help your team grow. Tracking the right data also enables your managers to create accountability by establishing clear expectations for each of their team members. By examining each person’s results, your managers will get a quick snapshot of how each team member is performing in that dimension. Team members who need additional management or training will get the attention they need.
Additionally, within a team setting, performance measurements can also help to create a greater sense of teamwork by increasing camaraderie—and even some healthy peer pressure—to perform.
3. Keeping track of your business metrics is also good for revealing potential problems—before they grow too large. Monitoring performance measurements throughout your company will give you a good feel for how your company is really doing. Potential stumbling blocks will become evident long before they become large issues, allowing you and your team to attack them head-on and solve them proactively. For example, if your tech team is suddenly spending significantly more time closing tickets, you might uncover a system glitch that needs attention before it halts your whole operation.
Using your data to spot problems early on allows you and your team get out in front of your challenges, rather than waiting for them to impact your bottom line.
4. Relying on hard data, your leadership team can reduce the amount of time it takes to make the big decisions. Timely decisions keep your organization on track toward fulfilling its overall vision. By creating a clear set of measurable metrics which are well-defined, easy to track and understood by everyone in your organization, you’ll be able to make informed choices backed by solid data.
It will also get you and your team in the habit of collecting important metrics as you build your business, rather than running around after the fact to collect numbers. These habits enable the clarity and honesty you need to make the right decisions for your business’ future.
One Final Note – we’ve all heard rumors about companies who have gone data crazy and lost their perspective in the process. Performance measures are designed to help you reach your ultimate outcomes, but they’re not your end goal. As you introduce performance measurements into your organization, make sure you do so with the right perspective. Your chosen metrics represent a single dimension of your company’s health. They always need to be assessed with your company’s ultimate vision in mind. In other words, when you’re analyzing data, always ask yourself what you are really trying to achieve—and how this number will get you there. Then, make your decisions accordingly.
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This article originally was posted to the Vistage.com blog by Kevin McArdie on May 23, 2013.
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