04/07/2022
Data.
If it can't be measured, it can't be improved
When you're a creative person, it can be intimidating to think about data. We don't measure our work in numbers after all. But running a business can be, and especially when things seem hard, facts are our friend.
So, what is one thing you could measure that might help you make decisions about your business?
Here are three things we think everyone should track:
1: Revenue. How much money have you actually made? This figure doesn't need to be shared with anyone else, but you need to know, at all times, how much you're making. Money is one of the most stressful things for all of us, and we love to lie to ourselves to make things seem easier. But in the long run, this is never useful. Track your money.
2: Time. This is different for everyone but it's good to have a basic handle on how long certain things take. You might measure in days, hours or even minutes, but keep track of how long you're spending on things so you can work out later if you'd save money getting someone else to do them, or making the process faster.
3: Connections. This seems like something you can't really quantify, but having data about your customers, suppliers, business partners or other key contributors is invaluable.
Data is only useful when it's useful. It should make things clearer, not more confusing.
Need help working out what you should keep track of? Get in touch!