UnProfessional: How a 26-year-old University Dropout Became a Self-made Millionaire by Delosa Jack

Author:Delosa, Jack [Delosa, Jack]
Language: eng
Format: epub
Tags: Itzy, Kickass.to
ISBN: 9780730309246
Amazon: B00IXP99KG
Publisher: Wiley
Published: 2014-02-28T05:00:00+00:00

vital signs and business health

In hospital wards the world over there are people lying on hospital beds with a clipboard at the end of the bed. Numbers that are consistent across these clipboards are things like a patient's heart rate, breathing rate, temperature and blood pressure. These numbers are so critical to the health of a patient that they are regularly and rigorously measured, monitored and managed.

Business is no different. In every business there are certain numbers that, when effectively measured, monitored and managed, can accurately reflect the overall health of the business.

Unfortunately, the vast majority of early-stage businesses do not actively strategise and assess the vital signs across the company. This means that the owner, the CEO and the people within the business don't know what success looks like, let alone whether they're achieving it or not. This results in a lack of leadership, a lack of clarity around the direction of the business and a lack of accountability within the business. Without all of these factors working together, a business simply cannot survive.

Vital signs are not only important at a business management level; it is also critical for every person in the organisation to have targets and numbers that are relevant to their role. Even if you're a sole proprietor just setting out on your journey, you need to know the vital signs that you measure each week to ensure your personal performance is in line with what you are setting out to achieve.

The vital signs for a business development manager might be the number of calls made, meetings conducted, applications received and sales made. For an online marketing manager, the vital signs might be the number of database opt-ins, amount of social media growth, email open-rates, click-through rates, overall web traffic and conversion rates of any sales pages. For an operations manager, the vital signs might include tasks completed, projects progressed, operational errors made, reports received and a customer satisfaction rating.

Every person in every one of our businesses has vital signs that are measured and reported, on a weekly basis, to the CEO.

Every Tuesday afternoon before 5 pm, each of the managers in our businesses submit their vital signs report to our CEO. After reviewing the vital signs on the Tuesday night, the CEO then meets individually with every manager across their company for 30 minutes to discuss their vital signs, identify where the manager believes they are strong, what areas need improvement and what the CEO or board can do to better support and enable the success of that individual.

This not only ensures that every person within each business understands they are accountable to certain targets, but also means they feel supported, because the CEO of the business is taking an active interest in their success on a weekly basis and allowing them to be heard.

The CEO then submits his or her vital signs to the board of directors once a month at a board meeting. The CEO's vital signs include all the numbers that are critical to the overall health of the business.

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