Setting Team Performance Metrics...and Making Them Stick

Setting Team Performance Metrics...and Making Them Stick

I hate management by nagging. For one thing, it’s usually counter-productive; for another it doesn’t contribute to a great team environment. Managing using scorecards and metrics is a much better approach. It allows everyone to understand the organization’s main objectives. And when scorecards and metrics are properly aligned with company objectives, the results can be incredibly powerful.

I’m not talking about external metrics that you share with investors or in press releases. I mean internal scorecards that you use to make sure your whole team is pulling in the right direction and that everyone’s contributions can be systematically assessed. The metrics you come up with should be specific to your business and to its stage. If you’re an early-stage startup, your metrics might be more focused on just getting and keeping users/subscribers/clients. If you’re in the scaling up phase, they will probably skew more toward consolidating your customer base, expanding into new markets, and developing beneficial business partnerships.

Here are some tips for coming up with your performance metrics and using them to drive business results.

Want to share your experience setting performance metrics? Tell us in the comments section below or contact Early Growth Financial Services for a free 30-minute financial consultation.

David Ehrenberg is the founder and CEO of Early Growth Financial Services, a financial services firm providing a complete suite of financial and accounting services to companies at every stage of the development process. He’s a financial expert and startup mentor, whose passion is helping businesses focus on what they do best. Follow David @EarlyGrowthFS.

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