“For a report to be actionable, it must demonstrate clear cause and effect”. Eric Ries made this argument in his bestselling book “The Lean Startup”. He is right to stress on the importance of monitoring actionable metrics. Quite often we get into the trap of vanity metrics. Either these vanity metrics look good or the data is easily available. However, as the name suggests, these do not lead to any action as cause and effect are not established. Have you identified actionable metrics for your business? What metrics do you monitor?
Our judgement, reactions and actions are influenced by our instincts and bias. Our experiences and learnings influence our instincts and bias. In life and at work, perception bias affects our judgement. Most of the times, we do not realize the implications of perception bias. Here are 3 tips to minimize the effects of bias.
Profitability and sustainability for most businesses depend upon customer loyalty. Repeat transactions from customers is what every business aims for. You may have heard about the concept of measuring customer life time value (LTV). There are several strategies and tactics businesses use to lure customers into repeat and more frequent transactions. Delivering a great customer service is one of these and is a zero cost strategy.
Average job tenure now ranges between 2 years to 3 years. If we were to plot global average job tenure in the last 2 decades, it certainly would be a skewed distribution. Switching a job in less than a year or two is no longer considered a taboo. Let us share 6 tips for succession planning for your organization.
This has been a year of forced changes. The global pandemic has forced us to change the ways we live, work and interact. It certainly has given a push to everything digital. Online shopping, online classes for kids, webinars, video calling, online doctor consultations. The shift in consumer behavior towards digital needs an identical shift in business strategies. It has been so for the past few years. However, digital will play an even bigger role in sales and marketing. How to plan your small business marketing strategy in 2020.
I am sure I need not stress on the importance of customer satisfaction. It is tied to the overall business success and scalability. As one of the most critical KPIs for any business, it needs to be measured. Surveys are considered to be the best method to measure customer satisfaction. However not all businesses use surveys. Some cannot while some don’t. This post is for businesses that for some reason cannot use surveys. So how to monitor customer satisfaction without surveys?
The focus of this article is people management. What are the key skills for effective management? I will share three skills you can develop and master for managing your people and earning their trust.
Maintaining a healthy work-life balance has always been a tricky challenge for most employees. This is a greater challenge as working spaces have been confined to our living rooms. Companies worldwide have allowed employees to work from home. Partial work from home or work from anywhere will continue in the post Covid-19 era. How can companies and management help employees manage their work life balance?
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When you have a goal in mind, strategy is about how you would reach that goal. In this post, we will understand strategy in terms of value. Business is all about delivering value to the consumer. A similar product manufactured by two different companies may have varying price points. How do you create value?
Sales is less art and more science. The skills to excel in sales can be taught. However, there are lots of common misconceptions and sales myths you should avoid. You would have heard some or all of these 6 sales myths.