The Ugly Trap of KPIs
A few weeks back, we had a conversation with a fellow entrepreneur who’s struggling. He dropped words like bounce rate, list size, big “sites” that featured them and the whole shebang. These definitely looked good on paper. You’d think they’re doing so well but they’re not.
How could a company with such “great” KPIs be struggling?
We’ve seen a lot of entrepreneurs fall into this trap - all numbers but they don’t even know what those numbers tell them. They don’t know the story behind those numbers.
This is where the disconnect happens.
When there’s that disconnect, you’re practically just swinging empty numbers every week. They become irrelevant. They don’t tell you the real pulse of your business.
Look at the numbers that you are measuring and ask yourself,
What do these tell me about my customers or clients?
What do these tell me about how my company is doing?
What do these tell me about how I can improve?
What value does knowing these numbers really bring to the table?
Do these numbers show me the real status of my business? Of my team? Of my clients?
And whenever you look at these numbers, always ask why?
More often than not, the stories behind those numbers are what matters the most.
Don’t allow yourself to get stuck with numbers.
Whatever business you may have, you’re not dealing with statistics and algorithm. You are ALWAYS dealing with people. Your clients and your team are people so don’t turn them into statistics.
Deal with them like a human being.